With the growing pace of technology, it will impact our lives in a better way to a greater extent in the near future. Many new trends in technologies like cloud, mobile and big data, together, seem to have changed the market trends and growth plans. With the worldwide IT industry re-evaluating itself to come up with new business ideas, many of the old IT and tech jobs around the globe are finding innovative ways to reinvent themselves. For techies who are craving for IT jobs and for those beginning their careers, 2017 must be the year of reinventing their abilities, insight and qualifications.

  • Artificial intelligence (AI) and Machine Learning (ML)

AI and ML, comprises of technologies like neural networks, deep learning and natural-language processing, also includes some of the advanced systems that understand, study, forecast, adapt and potentially operate autonomously. With creation of more intelligent programs and devices, systems can learn and change future behavior.  When compared to the past, the blend of extensive parallel processing power, advanced algorithms and massive data sets to feed the algorithms has unleashed this new era.

AI and machine-learning techniques can be used in banking for current real-time transactions, as well as predictive models of transactions.

  • Internet of Intelligent Things

When we say intelligent things it generally falls into three groups: robots, drones and autonomous vehicles. Each of these will evolve to support a new phase of digital business and influence a larger segment of the market, but these represent only one surface of intelligent things.  In near future, IoT devices will become intelligent things to deliver the power of AI enabled systems everywhere including the office, home, office, and hospitals.

As intelligent things evolve and become more popular, they will shift from a separate to a collaborative model in which intelligent things communicate with one another and act in order to accomplish tasks.

  • Virtual (VR) & Augmented Reality (AR)

Virtual reality and augmented reality has transformed the way individuals interact with each other and with software systems by creating an immersive environment.  For instance, VR is helpful in training scenarios and remote experiences. Businesses can overlap graphics into real-world objects with the help of AR which is a blend of both virtual and real worlds. Immersive experiences with AR and VR are at a point at which a series of small changes are expected in terms of price and capability but will not replace other interface models.  Towards future, enterprises should look for targeted applications of VR and AR.

  • Digital Technology Platforms

For any digital business, ‘digital technology platforms’ are their building blocks. Every organization will aim to comprise any or all of five digital technology platforms: Analytics, IoT, Information systems, customer experience, and business ecosystems. In near future AI, IoT platforms and services will be a key focus.   In order to meet the challenges of the digital business, companies should be able to recognize how industry platforms will evolve.

In today’s date, innovation in technology is evolving at a rapid pace. In this regard, all these trends have the capability to change the way business work, if used appropriately.