Tighten the seatbelts to embrace the impact from the next wave of computing. If the Internet wave impacted every industry, the ubiquitous computing powered by IoT, Mobility, Cloud and AI is already disrupting the way we do business.
Amazon Go, the cashier-less convenience store has taken every technology enthusiast by surprise. The friction free, cashier-less, kiosk-less transactions will indeed take the shopping experience to a different level. The myriad of sensors and cameras tracking every product in the store and using advanced computer vision algorithms has made the impossible possible.
The digital disruption of the auto industry has proven that there isn’t any place for laggards in this Tsunami of innovation. I will hedge my bets on traveling to my daughter’s graduation party in a driverless car. The countless real-world scenarios while driving is now gracefully handled with the advancement in sensors, edge computing and computer vision algorithms. Now, the whole ownership model and the driving experience has opened up newer business models for the automotive OEMs and technology companies to ponder and monetize.
Industry 4.0 is creating the Smart Factories that allows interoperability amongst machines, devices, sensors and people to connect and communicate. IoT, digital twins, machine learning and digital enterprise are powering the Industry 4.0 revolution. The deeper insights obtained from the digitization of the factories is promising continuous production, highest compliance in ensuring operator safety, shorter product lifecycles and better product quality.
Customer support and self-service portals have been given a facelift with the Chatbots. The consistency in handling customer issues, 24×7 availability, reduced operational cost in training the bots, yet keeping the customer satisfaction at the highest level are clearly qualifying the Chatbots as a low-hanging fruit in its adoption. The democratization of AI technology in creating powerful Bots that can do advanced workflows and transactions has made it possible to implement a full-fledged BoT in weeks, not in months.
Smart speakers have become a household thing. They aren’t just fun anymore – but a gateway for smart home management, personal assistant and a guru. The fluid natural language processing capability powered by machine learning and AI and the infinite computing power of Cloud has opened up the possibilities of a layman with no specialized technical knowledge to interface with a computer.
The recent research studies are predicting the life expectancy in the western world to exceed 90 years by 2030 – thanks to the precision medicine and advancement in genome research. AI and Big Data is increasing the accuracy of the diagnosis, and further prognosis for early prediction of diseases and outbreak. Robotic surgeries are further increasing the accuracy and reducing the human errors.
The common theme of “Automation” is taking over every industry. On one hand, we are directly benefiting with sophistication, convenience and longer life expectancy; while on the other hand, every autonomous robot is likely to displace 5 to 6 workers, according to MIT research study. Clearly, it is impossible to stop automation. But, the time to draft regulations, guidelines and mitigation strategy is now.
These key events, technology growth and the disruption will feature in our memoir, having been a witness.
VP – IoT Solutions