Top 5 Strategic Technology Trends for 2018

Technology is the variety of techniques, skills, methods, and processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation. Technology can be the knowledge of techniques, processes, and the like, or it can be embedded in machines to allow for operation without detailed knowledge of their workings.

Technology is the use of scientific knowledge for practical purposes or applications, whether in industry or in our everyday lives. So, basically, whenever we use our scientific knowledge to achieve some specific purpose, we're using technology. Well, there is slightly more to it than that. Technology generally involves a specific piece of equipment, but that equipment can be incredibly simple or dazzlingly complex. It can be anything from the discovery of the wheel, all the way up to computers and MP3 players.

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Here are top 5 technologies which are in trend:

1   1. Artificial intelligence

Artificial Intelligence or AI is the simulation of human intelligence processes by machines, especially computer systems. These processes include learning (the acquisition of information and rules for using the information), reasoning (using the rules to reach approximate or definite conclusions), and self-correction. Particular applications of Artificial Intelligence include expert systems, speech recognition and machine vision.

2. Internet of Thing

The Internet of things (IoT) is the network of physical devices, vehicles, home appliances and other items entrenched with electronics, software, sensors, actuators, and network connectivity which enable these objects to connect and exchange data. Each thing is exclusively identifiable through its entrenched computing system but is able to inter-operate within the existing Internet infrastructure.

The Internet of Things involves the increasing use of objects and entities – known, in this context as things -- provided with unique identifiers and the ability to automatically transfer data over a network. Much of the increase in IoT communication comes from computing devices and embedded sensor systems used in industrial machine-to-machine (M2M) communication, smart energy grids, home and building automation, vehicle to vehicle communication and wearable computing devices. 

3. Big data

Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis. But it is not the amount of data that is important. It’s what organizations do with the data that matters. Big data can be analyzed for insights that lead to better decisions and strategic business moves.

Big data is data sets that are so large and composite that traditional data processing application software are inadequate to deal with them. Big data challenges include capturing data, data storage, data analysis, search, sharing, transfer, visualization, querying, updating and information privacy. There are three dimensions to big data known as Volume, Variety and Velocity.

4. Crypto currencies

A crypto currency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Crypto currencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.

Bit coin, created in 2009, was the first decentralized crypto currency. Since then, numerous other crypto currencies have been created. These are regularly called alt coins, as a blend of bit coin alternative. Bit coin and its derivatives use decentralized control as opposed to centralized electronic money/central banking systems. The decentralized control is related to the use of bit coin's block chain transaction database in the role of a distributed ledger.

5. Block Chain

Block chain is a database that sustains an endlessly growing set of data records. It is distributed in nature, meaning that there are no master computer assets the entire chain. Rather, the contributing nodes have a copy of the chain. It’s also ever-growing — data records are only added to the chain.

A block chain consists of two types of elements:

·         Transactions are the procedures created by the participants in the system.

·         Blocks record these transactions and make sure they are in the proper series and have not been interfered with. Blocks also record a time stamp when the transactions were added.

Two Main Types of Block chain

1- In a public block chain, everyone can read or write data. 

Bit coin, for example, uses an approach where anyone can write.

2-   In a private block chain, all the participants are known and trusted.