Who could have possibly imagined that ordering food home would be just a few clicks away or buying anything by sitting at your couch will become a reality; all this was made possible by technological advancements?
There are electric cars and smart gadgets these days that prove that technology and the human race have evolved a lot over the past few decades. Innovation is at the forefront of whatever businesses do these days, be it start-ups or tech giants like Google and Microsoft.
All these technological advancements could not have been possible without money. For companies, especially in the UK, direct lenders offer unsecured business loans to propel their research and development efforts. These are no guarantor, no collateral loans that come with flexible repayment options, and varied tenors.
Your business will get these loans even if your credit profile is not very high, which is not the case with loans taken from established commercial banks.
This blog will highlight more such technological innovations or trends that are relatively in the nascent stage as of now but will define the future. Here it goes:
Artificial Intelligence (AI)
Artificial Intelligence is most probably the biggest and the hyped buzzword of the decade gone by. Businesses are using it from several countries, including the UK, but the penetration, potential, and AI application, are relatively lesser-known.
Companies worldwide are automating redundant jobs as they want machines and systems to act on their own and respond intelligently. AI is expected to completely transform the way we see and do things going forward.
Internet of Things (IoT)
This is the second most discussed and debated modern technology topic globally due to its limitless potential. IoT is the central theme around all the technological innovations we will see in the coming decade. It allows millions of devices to stay connected and share data among themselves.
IoT enabled devices will find their way to our homes and offices, which will make our life easier. These devices could be wearable gadgets, smart refrigerators, and air-conditioners, virtual assistant, web-activated electrical equipment, to name a few.
When all this works in tandem with AI, these smart devices will be able to make decisions independently without external instructions. Isn’t it fascinating to imagine, think of what reality would look like?
Big Data Analytics
Data is the king, and this is unarguably the best takeaway from the decade gone by. Data is humongous, and to make sense of it to frame patterns and take business decisions will be what is being done by big data analytics.
It is humanly impossible to analyze millions of terabytes of data to extract meaningful information from it. This is where modern data analytics tools used by data scientists come into the picture.
When combined with other technologies, big data will work wonders for businesses and their customers as well. A new business can take business loans from AoneCredit to purchase analytics tools.
You must have heard of Bitcoin, a cryptocurrency and its bull run in this decade; it works on what is called Blockchain or a distributed ledger.
Blockchain is known to offer advanced level security. It has proven its mettle time and again as more and more businesses in diverse industries have been using it to transform their operations.
As a user, you cannot delete any data or fudge it, you can only add data to the existing chain; there is a ‘chain’ at the end of the name of this technology. Additionally, in a ledger, a single user cannot control data, which helps secure transactions.
The very premise of autonomous cars is in the testing phase and will very soon transform into reality. Research and development are picking pace, be it autonomous cars, trucks, taxis, and even ships. It is a giant leap when it comes to innovation in the automobile sector.
Think of it this way, if someone had asked you about driverless cars back in the early 2000s, you would have laughed to rejected this thought outrightly, but it is no more a dream today.
Robotic Process Automation
Who could have imagined that a single machine will perform the work of 1000 workers, that too in half the time? All this is possible today in this automation driven era led by technological innovation.
The robots being employed in industries are automating the redundant and not so complex tasks. This automation increases productivity and, hence, the output of small businesses and allows workers to focus on complex and manual tasks for better output.
Cloud computing has revolutionized the whole idea of data storage and sharing as now data is being stored on the cloud and not on inbuilt servers of companies.
Everyone in the organization working from anywhere in the world now have access to this data efficiently, and the best part is that it is super safe with no chances of data theft. Many tech stalwarts in Amazon, Oracle, Google etc., are now offering cloud services to their clients.