Technology Trends That Will Revolutionize the Market in 2018

source: fossbytes.com

In the late 1960s, developers began dabbling with the idea of an online network. Fast forward to the 90’s and flip phones with cameras were the “next big thing”. Back in those days, it took 3-5 days to see how our selfie came out because a developing film was the norm, TVs looked like microwaves with antennas, and we were lucky if the storm didn’t disrupt our dial-up internet connection.

Things are different today. Selfie sticks are a thing, TVs are practically paper thin, and we can stream multiple movies at the same time during the wildest storms. Nevertheless, just like the late 60’s and 90’s, technology is always growing — now at a faster pace than ever. Competitors are coming up with bigger and better products every day, with the goal to outdo one another. Let’s take a look at what technology trends 2018 has lined up for us.

1: Artificial Intelligence (AI)

Artificial intelligence has gone a long way since Siri was introduced in 2011. However, when the Google Home Mini and Amazon Echo were released last year, the world of AI exploded. In fact, Google reported that they have sold more than one Google Home device every second since Google Home Mini started shipping in October. With that being said, it is, without a doubt, a certainty that 2018 will be filled with virtual assistants.

2: Producing Algorithms

When Google established their ranking system, others were astounded by the ability to display optimal results consistently on the top. In fact, many social media outlets attempted to mimic the results — from Instagram prioritizing posts in your feed based on the likelihood of your interest on the content to Facebook pinning more relevant and top posts that you interact with on your newsfeed.

These algorithms also affect what kind of ads you see when surfing the web — it’s not a coincidence you see the sweater you were just online shopping for the night before whilst scrolling through your newsfeed. Similarly, when you’re done with an episode or movie on Netflix, it recommends what you should watch next based on its own algorithms. All these results are produced through extensive algorithms that predict what you enjoy watching, shopping for, and what you use the Internet for.

With renowned social media outlets already altering their algorithms to better suit the user, there’s no doubt that other competitors and retailers will begin to produce algorithms as well as part of the technology trends 2018 has in store for us.

3: Virtual and Augmented Reality (VR and AR)

source: www.pymnts.com

Virtual reality blew up in 2017, but with competitors constantly shooting out new VR products, chances are good it’s going to keep getting bigger alongside its fraternal twin, augmented reality. These two powerhouses are sure to dominate as the top upcoming technology in 2018.

The power of VR/AR technology allows you to watch sporting events at home and engage in virtual in-store shopping experiences. Imagine sitting front row of a basketball game with the Knicks huddled right beside you, only to take off the VR headset and realize you were cuddled up in your warm bed the whole time. Instead of going to stores and waiting in line for cramped fitting rooms, imagine having a mannequin that is personalized to your body type and can easily try on a virtual inventory of your favorite outfits with the press of a button. Goodbye long lines and item limits per fitting room!

Now let’s say you’re traveling and walking down a foreign street with signs in a different language. With the help of AR glasses, those foreign words can easily be translated within seconds. As a matter of fact, Amazon is already making this a reality; there is news that they will be releasing augmented reality glasses attached to their Alexa voice assistant. The possibilities are literally endless when it comes to augmented and virtual reality.

4: Internet of Things (IoT)

Also known as networked connections that go beyond the traditional smartphone, tablet, or PC, IoT has been rising in the tech world. Remember when you needed an HDMI cable just to stream shows from your laptop? Now it can be done easily, wirelessly, and with just a click of a button.
These innovative IoTs function through existing network infrastructures, which allow for more opportunities in direct integrations. This means there will be improved efficiency, accuracy, and overall economic benefit. The cool thing about IoT is that data is collected via various technologies, allowing it to flow data between devices.

For instance, Nest’s Wi-Fi thermostat is not something to look past. This learning thermostat is equipped with technology to sense your goal temperature of the day, and automatically programs itself after adapting to that pattern throughout the week. Not to mention, it senses when no one is in the room and automatically goes into “Eco-Temperature” mode, saving a good chunk of your electricity bill.

5: Blockchain

source: www.finance-monthly.com

The blockchain is a list of records, or blocks, that are linked and secured using cryptography. A popular form of cryptography that has recently blown up is bitcoin. 

Commonly known as the cryptocurrency, bitcoin is the first type of decentralized digital currency and is expected to change the banking game. Experts are predicting blockchain will surpass currency exchange and will breed a new playing ground for civic engagement. This ranges from fraud reduction to tax management, to get more voices heard by the government.  

For instance, although the cannabis industry is gaining support for legalization, it is still taboo. Roughly 75% of cannabis businesses function without bank accounts and may turn to blockchain and cryptocurrency to amend this issue. In general, many are turning to blockchain to show transparency and accountability, and traditional industries will eventually follow through as well.

Final Thoughts

As we look at all the great technology and devices 2017 blessed us with, it’s time to prepare for bigger and better things that 2018 will have in store for us. As a recap, let’s review what will be the up and coming technology in 2018:

1. Artificial intelligence is getting smarter and will be more accessible to everyone.

2. Producing algorithms always has, and always will affect what you’re seeing when surfing the web.

3. Virtual and augmented reality will grow bigger and better and will be accessible at your fingertips.

4. The Internet of Things will grow even bigger than it already is, and is projected to alter our everyday objects.

5. The blockchain is the new and improved currency.
Best of luck in 2018!