Home ›› 11 Jan 2022 ›› Editorial
Technology evolves rapidly, and new inventions and improvements to older tech promise to be life-changing, convenient, and accessible. But, technology, both physical and digital, takes time to brainstorm, design, create, and perfect. That’s why we first hear about new tech years before it’s ready to hit the market. Environments of remote workplaces will increase the demand for virtualization and digitization. The technology which took a pivotal role during the pandemic scenario played are expected to continue the thrive during the upcoming year, we can explore more. So, we have to wait and look at how they could change our living ways by providing mechanical support and sophistication. All these technologies are evolving and emerging all around us. These technologies welcome skilled experts. Over the decade, we have been able to experience the latest technologies that enter our lives and play an important part in our day-to-day tasks.
Blockchain can be measured as a specific database type. The change between a typical database and blockchain is the strategy to know how to store data. In a simple database, the data are saved in a way that is considered into well-defined columns and rows. Even in a blockchain, the data are saved or stored in the blocks form. Every block is connected to its successor and predecessor, which methods a chain-like pattern; therefore, it’s called ‘blockchain.’ The blockchain data are encrypted and saved in a hash format. Without the right keys, it is impossible to decrypt the blockchain network data. This method makes blockchain very effective against data leakages and cyberattacks. Now big financial corporations like JP Morgan and many other multi-national corporations have implemented blockchain technology in their business. In 2022, the truly dispersed features of blockchain will make so many opportunities across many industries.
Artificial Intelligence (AI) is an innovative computer science branch. The main AI objective AI is to have decision-making abilities like human beings. Artificial Intelligence gives so many advantages to individuals and industries. Many companies have adopted computerization to improve their productivity and efficiency to gain competitive benefits over their competitors. AI is playing an important role in almost every industrial sector.
AI-powered devices help to examine the problem and give tailored treatments. In software development, AI-based no-code/ low-code platforms save a lot of time by developing the app from scrape rather than writing the codes for thousands of lines. Self-driving vehicles development is one of the outstanding achievements in the technology field. Natural Language Processing and Machine learning are the artificial intelligence branches. Pre-trained language models will enable new applications and experiences composed with far less developer effort than before. We will see more people tweeting and blogging about low-code and no-code frameworks that reduce developer friction in creating complex AI-powered applications.
Nowadays, Cloud services are becoming an essential part of businesses. Cloud services help to save a lot of effort and time in managing and maintaining local databases. Furthermore, keeping a local database requires experienced workers to manage the entire database and conduct regular maintenance checks.
It will stop any cyber-attacks or data leakages. With cloud service, the data become more flexible as it might be gain access to from anywhere. Cloud providers can also provide tragedy recovery management for data protection in any disaster case. The maintenance downtime will also be less when compared to the locally managed data downtime centers.
5G is the next cellular connectivity generation. With high-frequency radio waves, 5G can give greater connectivity speeds. 5G deployment has already started in many countries of the world. 5G range’s radio frequency has a very small wavelength and lies among the 24GHz to 100 GHz range. This spectrum range can transfer the data at high speed, and the transfer distance is also very short. So, it is essential to adopt the necessary setup like small towers within buildings.It means that 5G can easily receive and transfer data from a wide variety of sources, and the data transmission can happen simultaneously on the same wavelength.
Quantum computers are the next supercomputers generation. The bits (0s and 1s) are replaced by quantum bits with super great states, where the state maybe 0 and 1 simultaneously. A quantum computer can perform a heavy task that needs 10,000 years for a supercomputer to do round about in three minutes. The huge computational abilities of quantum computers can certainly decrypt encrypted data. Many huge businesses like IBM, Google, Microsoft, etc., are in the early steps of organizing quantum computers. Quantum computing is still in a relatively early stage in its development, but we are seeing real advancements in the technology, and we’ve reached a point where executives need to consider its business implications. In 2022, we’ll continue to see a fast-developing business ecosystem, increasing investment, and accelerating research breakthroughs. In 2021 alone, announced investments in quantum computing start-ups have surpassed $1.7 billion, more than double the amount raised in 2020.
Robotic Process Automation is also a technology that is systematizing jobs. RPA is the software that works to automate business processes like interpreting apps, handling transactions, dealing with the data, and even answering emails. RPA systematizes repetitive tasks that people used to do.
McKinsey discovered that less than 5 per cent of jobs could be completely automated, but about 60 per cent can be partially automated.
VR (Virtual Reality) and AR (Augmented Reality), and also Extended Reality (ER) are the next exceptional technology. Virtual Reality engages the user in a situation while AR improves their environment.I think we should be thinking about ethical and human rights issues pertaining to the AR and VR space, and relatedly, transparency from tech platforms as it pertains to privacy and content moderation. To the former point: This space is truly shaping up to be a wild west, and we shouldn’t underestimate the very real issues that arise when people enter realistic virtual spaces. It’s vital that we as consumers pay attention to the very real threats posed by the increasingly realistic virtual world . . . and remember, as we enjoy its development, that not everyone will have the same access to it. As for the latter, we’ve seen the harms that come when companies fail to moderate content–as well as when they over-moderate, particularly in cultural contexts where they lack competence. Better transparency doesn’t solve all of these problems, but it would be a huge step forward for users, advocates, and journalists alike to be able to start to make sense of how big tech corporate practices really work.
As AR technology improves and social media use increases, more people will invest in their posts, especially on Instagram and other social media platforms. So now, instead of spending thousands on the latest designer piece of clothing, companies are starting to sell luxury clothes that can only be seen in photographs.
So, in 2022, we can expect that these technologies forms be more combined into our daily lives.
The writer is MD and CEO of Community Bank. He can be contacted masihul1811@gmail.com
