Technology is evolving quite rapidly, creating changes and progress across multiple industries. The world is doing away with the less popular technologies and upgrading existing ones even as innovations are born. The Covid-19 pandemic may have played a significant role in the birth of some remarkable technologies currently being utilized across several industries.
The gambling and casino industry has emerged as one of the biggest beneficiaries, as online games are seemingly taking over. Following sports betting, it is reported that revenue from online gambling rose by significant amounts in 2020. We are set to see even more trends taking over in 2021, and here is a look at some of the new trends to look out for in 2021.
#1. Artificial Intelligence (AI)
AI has been a huge success, especially towards the end of the last decade, and it can only get better. Image and speech recognition, smartphone personal assistants, navigation apps, ride-sharing apps are among some of the many uses of AI.
Further, expect more of AI in analyzing business-customer interactions in determining underlying connections, which help in predicting demand for specific services. It could be more prevalent in hospitals to allow authorities to reach more crucial decisions regarding resource utilization.
#2. Robotic Process Automation (RPA)
The future is undoubtedly digital, and like AI, RPA is another crucial technology that should take us forward. It is mainly applied in automating jobs through the use of the software. It uses special software to automate business processes, process transactions, and even auto-reply business emails.
As a technology that automates repetitive tasks previously handled by people, RPA threatens to render millions of people jobless, as business models will seek to automate their systems to cut operating costs.
#3. Edge Computing
Not too much attention was being paid to edge computing initially, but it is certainly one of the futuristic technological trends to watch. It has squeezed into the mainstream, with big players such as Microsoft Azure, Amazon Web Services (AWS), and Google Cloud Platform leading the way. Cloud computing is still growing, and the future could see more business models migrating to cloud solutions, but it cannot be said to be the emerging technology when we have edge computing.
#4. Quantum Computing
Another trend to watch out for this 2021 is quantum computing, a form of computing that uses the quantum phenomena like quantum entanglement and superposition. It is currently being used in the prevention of coronavirus and developing vaccines, as it can easily monitor, read available data, and act on it regardless of where it has been drawn from.
Also, expect to see a lot of quantum computing in the finance sector, where banks use it to manage credit risk through high-frequency transactions and fraud detection.
#5. Virtual Reality and Augmented Reality
We have already seen much of VR and AR, but there is still so much more to come from this technology. VR immerses the user in a particular environment, while AR enhances that environment. So far, it has been applied mainly in the gaming industry, but it is also slowly being used for training.
The success of these technologies in 2020 and the potential of some of the innovations could see more of them being integrated into our day-to-day lives.
Other technological trends to watch include blockchain, IoT, cybersecurity, and 5G.