By Michael Rivera, PhD
Acceleration in digital transformation has changed consumers’ expectations. People are increasingly reliant on technology. In response, organizations are working hard to stay on top of their games with innovative technology solutions. There is fierce competition across every industry, and companies are looking to increase their competitive advantages with emerging technologies.
If you want to stay competitive or be a leader in your space, you must implement emerging technologies promptly and properly. In this digital economy, it takes innovation to stay ahead of the curve. If you fail to innovate, competitors will be miles ahead of you – over time.
To enable you to stay up to date with recent strides in the world of technology, we’ve put together four emerging technologies to watch out for in 2023 and beyond.
1. Digital Twin
A digital twin is a virtual model or representation of a physical object. The virtual model spans the object’s lifecycle and uses real-time data from sensors on the physical object to simulate performance and keep track of the object’s operations. In other words, a digital twin is a virtual model designed to reflect a physical object. The object can be a product, system, or process.
Gucci has leveraged this technology to sell a virtual model of its product. The company launched The Gucci Garden Experience to sell virtual products. It sold a virtual-only digital twin purse for a price higher than its physical counterpart.
2. Internet of Things (IoT)
Internet of Things (IoT) refers to the network of physical objects (things) with sensors, software, and other technologies, enabling them to connect and share data with other devices and systems over the internet. Companies are using IoT technology to build innovative products and services. A good example of an IoT application is smart homes. In a smart home, appliances, such as air conditioners, lights, fans, and electric kettles, can be networked and operated remotely by the owner.
3. AI/Automation
Artificial intelligence has been around for many years. However, there have been some massive advancements in AI in recent years. For example, AI-enabled automation and Natural Language Processing (NLP) breakthroughs have revolutionized how organizations execute operations and manage customer relationships.
Today, companies rely on AI-enabled automation to streamline operations and increase productivity. In a typical traditional setting, there are routine, repetitive tasks that occupy employees and slow down activities. With automation, companies can do more in less time and with fewer human resources.
Machine learning or NLP helps develop customer service solutions, like knowledge base software and chatbots. Artificial intelligence is vast and helpful in many ways. It’s a leading technology to keep track of.
4. 3D Printing
3d printing is a method of creating a three-dimensional object layer-by-layer using a computer-aided design. This emerging technology is also known as additive manufacturing. 3D printing is applied in various industries or ways, including education, prototyping & manufacturing, medicine, construction, art & jewelry.
Final Thoughts
Keeping track of new technologies can be overwhelming. But it’s worth doing because it helps you stay competitive with innovative solutions. In addition, implementing new technologies requires high-level tech expertise and experience. This is where Thinaer comes in!
Thinaer is a leading provider of technology solutions that helps the world’s prominent companies adopt emerging technologies, solve challenges, and achieve ROI quickly by reducing the cost of operation. Whatever your needs are, we can help you achieve your goals in no time. Talk to us today!