Technology affects our lives, both positively and negatively. It has a significant impact on our way of thinking, communicating, and socializing with other people. So, how has technology changed our lives?
We are entering the era driven by millennials’ buying power and their sophisticated tastes.
Consumers prefer efficient self-service, they prefer messaging over phone calls, as a result, the companies develop chatbots and virtual assistants. As a result, e-commerce retailers design personalized advertisements targeted for the particular consumer with the help of omnichannel digital marketing software.
Personalization of offers drives companies to employ artificial intelligence not only for price differentiation but also fast and agile responsiveness of customer support service as 25% of millennials expect to get a response from customer service via social network within 10 minutes time. The trend is best described in terms of accelerated adoption of a digital lifestyle.
As a consequence, Blockchain, Artificial Intelligence, and the Internet of Things are the hottest destinations for venture capital investments. Throughout 2018 Blockchain attracted more than $5 billion, AI venture founding hit $9.3 billion and IoT gained $3.3 billion with the record number of acquisitions of 27 in Q2 2018. Big companies see great potential in the startups and we see them partner with tech VC’s to invest and promote promising startups.
Instant gratification is the game – we’ve been conditioned to loathe waiting, especially for digital services, and the impatience has crept into our daily life.
We want it with no friction, no barriers, and in a lot of cases, without talking to another human. If we don’t get it, we are perturbed — and we may just go rant about it on social media.
The masses are armed with smartphones and mobile apps, and this handheld accessibility to technology has made the on-demand economy integral to how we operate on a daily basis. You can have somebody else do anything for you with the tap of a finger — drive you to work, deliver your dinner, and just about everything in between.
Across the globe, the on-demand economy has disrupted transportation, retail, restaurants, entertainment, employment, and beyond, and it’s growing rapidly as new apps and business models converge to solve problems. Enabling on-demand information, experiences, and human-machine interactions in the real world open up a whole new realm of possibilities.
Beyond mobile, the rise of IoT technology holds the promise of instantaneous data delivery from devices to other devices or end users. You (or your home automation system) can know immediately if your door is locked, your sprinklers are leaking, or your baby is crying. The more intimately we weave technology into our lives, the more absolutely we depend on its availability, integrity, and security.
Technology now enables us to design medicines on a computer, a process known as ‘rational’ drug design.
By codifying our understanding of physics and molecular interactions into software, we can now find computational solutions to problems in medicine. This allows us to systematically predict new chemical structures that disrupt disease processes in the body by binding to specific proteins.
In the past, drugs discovery was driven in large part by trial-and-error experiments with preexisting compounds. Technology now allows us to design therapeutic compounds that have never before been synthesized, providing fundamentally new options to improve patient care.
Gleevec, for example, a well-known chemotherapy medication, was one of the first rationally designed drugs to be approved and has saved countless lives which otherwise would have been lost to chronic myelogenous leukemia.
Technology has had a significant impact on the way we live our lives. For example, Artificial Intelligence is on a crash course with Augmented Reality, especially in the healthcare space.
There are many ways that both technologies can be used. For example, they can be utilized with headsets, or to enhance phones or tablets.
They can equip employees with advanced features like X-ray vision, heat sensing abilities, and faster access to experts. Rather than replacing humans with machines, these technologies provide a new way to enhance the ways that machines and humans work together. They can improve design speeds and reduce the amount of time it takes for a product to get to market by erasing the need for a physical prototype. It also improves safety and compliance efforts.
A perfect example of how to use AI and AR comes from nurses who use it to locate veins faster and more effectively. AccuVein has a tool which allows nurses or doctors to use a handheld device which scans the patient’s body and makes the vein visible. This greatly improves accuracy and decreases the likelihood of having to stick a patient multiple times.
Artificial Intelligence at Your Local Gym! It’s possible your gym owner is using AI Technology to keep you making that New Year’s Resolution!
The average “family” gym has over 1 million data points about their members regarding demographics and behavior (i.e. card scanning and purchases). Using Machine Learning, a new company MiCoachee has worked with the Data Scientists at UMASS Amherst to crunch all those numbers and predict upcoming membership cancellation by members with high accuracy.
You may find about the same time you are thinking of canceling your membership, you get a call, text, or email with a free class or personalized offer that gets you excited about going again and engages you to stay on track! You have AI with Netflix, Alexa and Amazon to make your consumer experience better now your local gym can help you stay on track by using your behavior!
New technologies, seemingly from science fiction, have transformed blue collar jobs in manufacturing, retail, healthcare, supply chain logistics, transportation, agriculture, biotech and many more into digital New Collar jobs.
Across industries, digital literacy is essentially leading to the existing skills gap as the Future of Work has already started and workers have not been prepared. Up-skilling is required for companies to take advantage of new technologies and education systems must re-think how we prepare people for jobs as 3D Printing operators, warehouse robotic service technicians, autonomous vehicle programs, surgical robot operators and predictive analytics managers.
The digital revolution that has occurred over the last 20-30 years has attributed to rapid advances in technology that is affecting the way in which we live our lives.
3D printing has undoubtedly been one of the most exciting developments in recent times and has gradually been changing the way industries from all kinds of sectors operate from manufacturing right through to healthcare.
Let’s take a closer look at how 3D printing has been changing the health industry, for example.
Although the technology is still in its infancy, 3D printing is already making a huge positive impact. From tailor-made casts for broken bones to face transplants, there are so many areas that 3D printing is helping with.
You may be familiar with a recent story about an Israeli research team 3D printing a human heart. This is an incredible achievement and it just scratches the surface of what will be possible in the future with this technology.
As 3D printing becomes cheaper and more sophisticated, which it will over time, it will open up opportunities for more personalized healthcare. Organ transplants, prosthetic limbs tailored to the individual’s exact measurements, teeth replacements, skin grafts – the list goes on and on. This will revolutionize the sector in a way that no other technology can and will save more lives and improve the quality of life of millions as a result.
That’s just healthcare. Imagine the other areas of our lives where 3D printing can transform the way we live our lives. There has been a huge increase in people buying 3D printers over the last few years. It’s slowly becoming mainstream, which is only going to increase the technology’s potential and footprint in our day to day lives.