The Future of Tech: My Predictions
It moves so quickly ...
POSTED BY ROGER EDDOWES ON 30/07/2018 @ 8:00AM
This week, I'm turning over blogging duties to Milton Keynes IT guru Lionel Naidoo from Dragon IS. The tech world moves quickly, so here are Lionel's predictions for the future of technology ...
The future of tech is exciting and will only benefit businesses!
copyright: wavebreakmediamicro / 123rf stock photo (licensee)
When we think about the year 2050 and the tech of the future, it’s hard not to imagine a completely alien world. However, it is only 30 years from now and much of the technology that will shape our future is already being used by businesses across the world today.
I offered my predictions at the recent Essendon Breakfast Network Meeting at Towcester Race Course on 4th July. I touched on some of the most common business concerns and how technology may solve them in 2018/19 and beyond to 2050.
Some of my predictions are below:
Blockchain is an ever growing list of records, linked using cryptography. Blockchains which are readable by the public are widely used by cryptocurrencies. Private blockchains have been proposed for business use. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data.
It is an "open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires a consensus of the network majority.
Blockchains may be considered secure by design and exemplify a distributed computing system with high fault tolerance.
Artificial Intelligence, also known as AI, is intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans and other animals. Colloquially, the term 'artificial intelligence' is applied when a machine mimics 'cognitive' functions that we associate with human abilities such as learning and problem-solving.
AI research grows at the same rate as advances in computer power and as big data becomes more structured and accessible. AI has become an essential part of the technology industry, helps to solve problems in science and medicine, and is better able to analyse business data to make more accurate predictions and forecasts.
The Internet of Things
The Internet of Things (IoT) is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these things to connect and exchange data. Using the Iot results in efficiency improvements, economic benefits, and reduced human monitoring.
The number of IoT devices increased 31% year-over-year to 8.4 billion in 2017 and it is estimated that there will be 100 billion devices wordwide by 2050.
Advances in hardware
Hardware usually follows Moore's Law and doubles in power every 18 months. In addition, the circuit integrations half in that timescale too, so we find computers getting more and more powerful as well as smaller and smaller.
But we're reaching the limits with silicon now so researchers are looking at other materials to allow us to shrink hardware further. Quantum computing will become take a huge leap forward as technology improves. Can you imagine the elation (or maybe fear!) the day we can prove that a computer is actually thinking rather than just mimicking our thought processes?
My presentation certainly got everyone thinking about the incredible pace of technology and how it could transform their business activities.
Roger here again. Lionel also talked about how mobile phones will be obsolete by 2025, cancer could be defeated by nanotech by 2050 and how augmented reality is giving an extra layer of information to surgeons, engineers, law enforcement and rescue workers.
"We live in exciting times!"
I was fascinated by Lionel's presentation and the predictions he made. If you'd like to connect with him, or are maybe looking for a new IT support company to look after your businesses technology, do visit the Dragon IS Website or call Lionel on 01908 613 080.
Until next time ...
If you're looking to work with a leading firm of accountants, then why not visit our website which you can find at www.essendonaccounts.co.uk and let's see how we can help you!
Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.
Roger loves ‘getting his hands dirty’, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.