In this blog, Lalit Dhingra unveils the Next Technological Frontier.
While interacting with the computer science students before the summer break at Georgia Tech, an interesting question came from one of the students – What after digital? Which technology will dominate, or will digital continue to dominate for the next 10-20 years? Nonetheless, answering that question was not easy.
As we all know, the last four decades have seen tremendous technological advancements transform how we live, work, and communicate. In the 80s, we saw the advent of personal computers. In the 90s, we saw mobile phones and the growth of the internet, followed immediately by the e-commerce boom. In the 2000s, digital media and social media made waves, and starting in the year 2010, we saw the rise of cloud computing, Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT). In the last 8-10 years, we have seen tremendous use of digital technologies in business and personal life.
Today, digital technologies are all-pervasive. Being digital is no longer a differentiator. It is a pre-requisite. A report by Gartner claims that 91 percent of businesses are already engaged in digital initiatives. In the post-digital age, constant disruption due to the exponential growth of new technologies will be the norm. We will continue to see cloud computing, AI, ML, IoT, and robotics at the forefront. Together AI and IoT have the potential to revolutionize various industries, such as healthcare, transportation, manufacturing, and finance. They can help automate complex processes and improve decision-making. However, there are concerns about the ethical implication of these technologies, like security, privacy, and job displacement.
Augmented reality (AR) and mixed reality (MR) are already creating a more immersive experience for users, leading to a dramatic shift in how people interact with the digital world. From entertainment, gaming, and education to social networking, retail, e-commerce, and healthcare, more and more industries are expected to embrace AR/MR to enhance the customer experience. With the growing demand and adoption across various sectors and rising investment opportunities, the global market for AR is projected to reach USD 88.4 billion by 2026.
The most exciting is quantum computing, which has the potential to be the most significant technological breakthrough of the modern times. Unlike classical computers that use bits to represent information, quantum computers use quantum bits or qubits, which can exist in multiple states simultaneously, allowing for exponentially faster calculation. Quantum computing could significantly impact various fields, such as cryptography, drug discovery, and material science. It could also enable the development of new AI algorithms that can process vast amounts of data in real time. However, this technology is still nascent and will take some time to be widely available.
AI and ML: Taking problem-solving to the next level with automation
AI enables software systems to problem-solve by processing massive amounts of data to achieve specific goals. The AI market is expected to grow exponentially, reaching nearly USD two trillion by 2030. AI is critical in the post-digital era as it will further automate a wide range of tasks, thus reducing human workload and simplifying processes. ML will also be essential to train algorithms on various problems and creating advanced predictive AI models.
AI will be leveraged in everything from healthcare, finance, and automotive to marketing, supply chain management, manufacturing, and research and analysis. Some significant strides have already been made with innovations like generative AI, self-driven vehicles, and AI-assisted diagnoses. ChatGPT is the latest disruptor in the industry, enabling users to have human-like conversations to generate text for composing emails, essays, and code.
Enterprise automation: Streamlining business processes to drive efficiency
Enterprise automation is the next phase of digital transformation, and it leverages a combination of AI, ML, advanced analytics, cloud computing, and process automation to ensure greater efficiency in enterprise operations. In addition, it facilitates customer engagement, delivery, and internal support functions like payroll, IT operations, human resources, and compliance. A survey of C-level executives, directors, and senior managers by the Economist Intelligence Unit revealed that around 91 percent of organizations use automation technologies, and 51 percent use them extensively.
Enterprise automation is already being implemented in banking, finance, healthcare, and telecom to enhance process efficiency and customer satisfaction. Organizations that successfully implement automation at scale are called self-driving enterprises. The DHL Group is a good example here. The company used tech stack orchestration and deployed automation tools for 280,000 users worldwide to enable end-to-end automation, eventually improving the overall experience of employees, users, and stakeholders. In the post-digital era, more and more businesses are expected to embrace enterprise-level automation. Meanwhile, customer centricity, employee experience, and operational agility will remain central to this shift.
Internet of Things: Driving innovation through connected devices
The Internet of Things (IoT) is already used in smart homes and automobiles. In the coming years, real-time data analytics and cloud computing will broaden the IoT use cases. As a result, it will have more ground-breaking implementations across various industries like logistics, retail, healthcare, sustainability, and the public sector. Other great use cases will be seen in fleet monitoring, inventory management, energy and sustainability monitoring, remote surgery, and patient monitoring.
Robotics: Unveiling the everyday potential of automation in the physical world
In the coming years, industrial or commercial robots are expected to become more prevalent across industries like manufacturing, military and law enforcement, healthcare, agriculture, and transportation. The significant rise of commercial drone systems will also prove transformative for many industries. By leveraging embedded systems, remote sensing, and GPS, drones can easily reach remote and hazardous locations to facilitate disaster relief, healthcare supply, aerial inspection, and terrain mapping. They are already used in agriculture, shipping, and photo/videography.
The post-digital era will see technologies disrupting how we interact, collaborate, and innovate. I strongly feel that while quantum computing is an exciting and promising technology, it is challenging to predict whether it will be the “biggest of the lot” compared to other emerging technologies such as AI, IoT, cloud computing, robotics, and AR. It is possible that different technologies will have different impacts on various industries, and all of them may play a significant role in shaping the next.
