Anyone who thinks of "technology" today almost automatically thinks of artificial intelligence. It is therefore one of the biggest technological developments in business in recent years. It offers the ability to transform large and diverse data sets into enriched information that can help improve speed, cost and flexibility in the value chain. For example, it can help brands and merchants with predictive forecasting, capacity planning and merchandising. This translates to consumers being able to enjoy the benefits of better product availability and faster, more accurate deliveries. In addition to supply chain benefits, AI can also help create a smoother browsing experience and improve customer loyalty through personalization. Online platforms such as Amazon, Alibaba, JD.com and Zalando are using AI enhancements to generate accurate product search results and display virtual items that are customized to the end user. Thus, using 'Generative AI', the focus is placed on content generation such as automatic text writing, image suggestion, music creation, etc.
Extended Reality (VR/AR/MR)
Extended Reality comes from the applications of Virtual Reality, Augmented Reality and Mixed Reality. Work is well underway to bring these 3 technologies together through the use of a single device. XR allows you to enter a new dimension that can deliver an immersive experience for multiple purposes. To know more about XR, it is important to first better understand the other technologies.
This development of these technologies is progressing better and better every year so it can be used for more purposes. Virtual reality is a digital environment or simulation that requires at least a pair of VR glasses to be put on so that a person can interact in this digital 3D environment. The virtual world can be experienced very realistically with fewer and fewer tools so it can be used for more sectors and services.
Augmented reality was created in 1992 in the medical sector. Since then, AR has evolved tremendously but is often still treated as a novelty. Unlike virtual reality (VR), AR has fewer obstacles to acceptance. AR offers the possibility, through a digital tool with a camera, to see the real world with additions of virtually created objects or illustrations. This application is very accessible and also very relevant to many applications. It requires no special hardware, as it is built to work with smartphones and tablets - devices already available to most consumers in the developed world. It gives the opportunity to obtain direct interaction in a digital way through direct and digital input.
Mixed Reality is an amalgamation of the VR and AR worlds to produce new environments and visualizations in which physical and digital objects coexist and interact in real time. Thus, the name Mixed Reality comes from mixing the real and virtual worlds, but does not necessarily take place in a virtual or physical world and is rather a hybrid of both worlds. MR is similar to AR but the difference is that MR allows a virtual layer of images to interact with real world actions (rather than needing a touch screen device to interact as with AR).
The underlying technology that powers cryptocurrencies, such as Bitcoin, blockchain is a decentralized and distributed digital record that provides new opportunities for managing product safety, authenticity and ethical standards. Records cannot be changed after they are added to the blockchain. The most obvious use of this technology is to verify the originality of an object. Microchips using blockchain can tell a customer with complete certainty whether a product is real or an imitation; whether it was stolen, where it was made and the general history of the product. All of this information can be accessed through a smartphone and can help prevent counterfeiting and theft. Blockchain can help companies gain more trust and brand loyalty throughout the product lifecycle because it can tell consumers not only where an item was made, but also by whom it was made, the conditions they worked in and how much they were paid. End users can also learn more about the composition of the product, where the materials come from and what the carbon footprint is. The technology is increasingly popular in the government, healthcare and real estate sectors. Not only products but also contracts can be used safely and smarter with this technology. For example, sensitive information from these sectors can be fully accessible only to the sender and receiver.
IoT – Internet of Things
The Internet of Things (IoT) is a system of connected devices, computers and digital machines with a unique identification so that it can transfer data between them over a network. Cell phones, laptops, smartwatches and other sensors belong to 'The Internet of Things' as long as they are connected and exchange data with each other. Did you know that a person with a heart monitor implant, a farm animal with a chip transponder or a car that warns the driver when tire pressure is low are also part of IoT? For various industries, IoT provides process automation, analytics & insights, work relief and performance monitoring. For example, an aircraft can broadcast the engine status and equipment condition live instantly, and theme parks can analyze popular attractions and bottlenecks by optimizing the flow of visitors. So for companies, it is a great advantage to apply IoT to increase efficiency, optimize customer service, and make difficult decisions easier to solve.
The fifth generation of mobile network is called 5G. Like its predecessors 2G, 3G and 4G, 5G will offer faster connection speeds and be more reliable with low response times at greater capacity. Compared to its most recent predecessor 4G, it is 100 times faster. It offers the ability to move more data in a wireless way. 5G offers network management features that can improve speed, capacity and network latency. This network is ideal for autonomous driving cars. These cars need extremely high network speeds to operate with as little network latency as possible. This is because the vehicle must process highly accurate information at the millisecond and respond to it immediately. For household appliances, this network is therefore less important. 5G can be transmitted on the 'millimeter wave spectrum' to enable high speeds. A major disadvantage is that this has a very short range and you will have to be close to a transmitter cell. Also, the network is dependent on physical obstacles and weather. So there should be no obstruction between the mast and the device and in very bad weather, 5G does not work optimally. This is because the network operates on a high frequency which is therefore also shorter in range. A microwave oven also operates on the same electromagnetic spectrum. This is also the reason why a microwave oven only heats the food inside the glass and not outside. To get more range for the 5G network, relatively small transmitters will be attached to lampposts and on the corners of buildings. This will allow a direct connection to this spectrum.