Today, we have the ability to do many things that were not possible a few years ago, all thanks to phenomenal growth in processing power, cloud storage and bandwidth. Technology is evolving day by day and it has changed the way us humans live, purchase products, communicate, travel, learn and perhaps a variety of our day to day changes that now go by unnoticed due to these constant technological advancements.
Some people believe technology is a boon while others disagree. Technology is like two sides of a coin; it can create problems of enormous proportions and it can also solve mind-boggling problems with relative ease. Technology isn’t good or bad; it is about what mankind chooses to do using technology that matters.
We live in an era where people’s tastes and preferences are rapidly changing which also influences the demand of innovative technology. The demand for technological advancement is high simply because almost everything that we use has been innovated and upgraded to better standards, for instance, the transformation of “Vintage phones” to “Smartphones” has revolutionized our daily lives.
A variety of industries have been revolutionized and advanced thanks to technology. Here we explore some of these strides that mankind has taken for its own good using technology:
Agriculture Adding Value with Advanced Technologies
Many developing countries are still largely ‘Agriculture Economies.’ Majority population relies on livelihood either directly or indirectly related to agriculture using traditional methods in such countries. That’s why adoption of emerging technologies in agriculture has grown at a fast pace. The core reason behind this is the tremendous value it brings for farmers and land owners. In the agriculture industry, emerging technologies like IoT, AI, Blockchain and Big Data is helping farmers under the category called “Precision Agriculture”, which is changing the way farmers manage their crops.
Goldman Sachs Global Investment Research, estimates a total addressable market of $240 bn by 2050 based on total value generation of $800 bn and 30% supplier value capture.
Agriculture industry adopts emerging technologies for unpredicted events, weather forecasts, resource or knowledge limitations, and poverty preventions. In agriculture industry, farmers frequently face uncertain crop damages and insurers also undergo financial losses due to small insurance contracts that ensure protection with small premiums, that leads to high overheads and low profit. To overcome these challenges, Cygnet helped the emerging start-up in taking an ambitious leap with its path-breaking blockchain based solution.
The core value that emerging technologies brings to agriculture includes:
- Monitoring the resources like chemicals, fuel, water, fertilizers etc.
- Enhancing the quantity and quality of crops
- Higher yield in the same amount of land
- Reducing environmental footprint
- Analyzing Earth Observation Data
- Weather forecasts
- Moderate Risks
Healthcare Under the Influence of Technological Advancement
The influence of technological innovation reached to healthcare, and making it more advanced. In healthcare, technology plays an important role in almost all the procedures from patient registration to self-care tools. Especially, devices like tablets and smartphones has replaced conventional monitoring and recording systems. Thanks to the technological advancements, patients can now have access to full consultation in the privacy of their own homes.
According to Transparency Market Research (TMR), the global digital health market was at $179.6 billion, in 2016. Growth in this market is anticipated to rise at a CAGR of 13.4% between 2017 and 2025, reaching $536.6 billion by the end of 2025.
Emerging technologies like IoT, Wearable technology, AI and Cloud have contributed to services being taken out of the confines of hospital walls and integrated them with user-friendly, accessible devices. Not only this, there are many advancements in healthcare that have emerged with the rise of emerging technologies. Here are a few:
- Electronic health records
- Self-service kiosks
- Remote monitoring tools
- Sensors and wearable technology
- Real-time monitoring services
- Voice-assisted devices
- The Cloud Storage
With an aim to ensure access to health services, maintain and improve the health status of nationals, residents and visitors, Cygnet helped the national health authority of a Middle East country to develop a collaborative public healthcare information system that can be accessed by general public, healthcare professionals, students, investors and healthcare facility operators.
Transportation Taking New Road to Innovation
The transport industry is currently undergoing significant changes thanks to transformative transportation technologies. Although we have become familiar to jam-packed public transport and long international flights, the future transportation is on its way to change these situations very soon and it is in the midst of a revolution. Emerging technologies like IoT and AI are advancing the efficiency of current transportation methods along with the new inventions that are self-confident to reshape the way people move on the roads.
The Internet of Things and Artificial Intelligence assures that all people and vehicles are connected through the same networks and collects the necessary data. These highly connected networks could possibly help in utilizing some important features of our daily driving for:
- Route Planning
- Accident Prevention
Cygnet Infotech helped various transport providers in developing an engaging and innovative smart transport and traffic management system which modernized operations and enhanced bus passenger experience. The real time passenger information in the system assisted the travelers with all the real time updates helping them to plan their journey well. Air quality monitoring allowed to check on quality of air and estimate pollution level. The entire system is running live in various counties of UK and Australia.
- Air quality monitoring
- Real time passenger information
- Fault and asset management
- Strategic control and command
- Adaptive control platform for real time traffic
- Travel information portal
As inferred from these applications of technology, we are on the brink of substantial breakthroughs that can make the lives of people better and address the burning issues on the planet ranging from plastic waste, wildlife depletion to cleaning of the oceans to addressing pollution.
It is the beginning of new innovations of all kinds and the effects of technological advancements will simplify the way we do things, save time, increase production, simplify communication between people or between humans and machines.
Do you have an innovative idea that needs out of a box IT solution? If you want to explore the benefits of deploying emerging technologies in your organization then get in touch with experts at Cygnet today at +1-609-245-0971 or email@example.com.