by Anika D | Dec 6, 2022 | Emerging Technology
The metaverse concept has recently gained a lot of limelight as AR and VR technologies become more widely adopted worldwide. It is a booming sector expected to touch the $800 billion mark by 2028. But is this technology that important? Stay with us as we outline some real-world metaverse use cases for you.
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At Home
Our nests are a strong place where hybrid and virtual realities can make a considerable difference. Most houses will be metaverse with Wi-Fi, 5G, fiber, and Fixed Wireless Access. Impactful graphics ensure streamed-back and real-time gaming experience for teenagers.
You would be surprised to know that over 51% of the metaverse users are either in their teens or younger. Apart from this, it can also offer an incredible entertainment experience to you. Be it movies or sports; you can get a real-life experience with this technology.
At the Stadium
Similarly, this technology can amplify your fan experience at real sports venues. The latest smartphone apps will enable you to point out an athlete and access his statistics. Moreover, your physical presence in the stadium can also become a part of your family’s experience at home.
You would be surprised to know Manchester is set to become the first football stadium in the metaverse. It is a digital universe that sports fans can explore as digital avatars.
At the Shopping Mall
The technology has revolutionized the entire online and offline shopping experience for buyers. You can combine shopping lists with their stock situations and price promotion with AR-assisted shopping paths. You can also maintain a wish list where AR will enlighten you through ads that match your shopping list.
You can also explore stores to experience the grandeur of the metaverse. AI has also played a vital role in enhancing the value of the metaverse. Connect with an expert to understand the types of AI and its uses.
At Hospital
Metaverse is doing a great job of enhancing the effectiveness of our healthcare systems. The XR technologies have offered an immersive experience that takes the patients out of their immediate surroundings.
Moreover, advanced haptic surfaces enable better therapeutic physical interactions for isolated patients. Metaverse also helped remote caregivers directly access and interact with their patients. They can do it via teleoperated equipment and avatars.
Across Industries
Businesses can use the meta to improve their supply chains and processes. Engineers can use this technology to operate equipment and machinery remotely. Moreover, companies are also widely using metaverse to provide on-the-job training to their employees.
They can now effectively remove roadblocks they encounter while handling different tasks. Forward-looking warehouses, factories, and logistic terminals can gain a competitive edge with the help of metaverse applications. Apart from the metaverse, adaptive AI will also change the customer experience in various sectors.
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Summing Up!
So, it is how this technology is revamping the world. These are just a few of the unlimited use cases of the metaverse. We can expect many more industry-changing and ground-breaking uses for the platform as it develops in different sectors.
by Anika D | Dec 3, 2022 | Emerging Technology
Smart contracts are technical codes written and uploaded on the blockchain. They can restructure transactions, remove intermediaries, reduce costs, and align business interests. Experts believe that smart contracts can transform business practices and interact globally. They are here to stay for longer than we thought. Here are some mind-blowing things that will make smart contracts a hotcake for enterprises in the coming years.
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Sophisticated Technology
Smart contracts have codes that automatically initiate transactions once the services are provided, and goods are delivered. These computer protocols digitally enable the control, verification, and execution of an agreement.
Moreover, these contracts run on blockchain platforms. It processes all the transactions uploaded on the contract. This process eradicates the role of consultants, advisors, and other middlemen. All these things make negotiations easier and hassle-free.
Development of Trust in Procurement
Enterprises often face challenges in developing trust and reliability in the market. For instance, both parties must submit multiple documents proving their trustworthiness when selling a property. Smart contract technology can help them significantly here.
It can speed up the processing time, remove intermediaries, and add reliability to the transaction. Considering this advantage, over 36% of the smart contracts have been deployed and verified alone in 2022.
Strengthening the Platform Economy
What is a platform economy? Well, it is the tendency for businesses to move towards digital platform business models constantly. These platforms are basically computer systems that provide services that allow businesses, customers, and the general public to connect, sell, and resource products.
Blockchain can strengthen this platform economy by integrating smart contract technology into it. It helps identify surpluses and openings to match buyers to these offerings. Companies can consult market experts to know what blockchain trends are for 2022.
Improve Regulations
Businesses worldwide strive hard to find effective methods to regulate their processes. Smart contracts can be a revolutionary solution to this issue. Enterprises can use this technology to implement laws, regulations, treaties, and directives.
Moreover, it can also help reduce the cost of compliance for businesses, making it more effortless. That’s not all. Smart contracts can also help minimize the burden and cost of oversight.
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Cleaner Supply Chain
Managing supply chains is not an easy task. It is almost impossible for retailers to identify the source of their products. Moreover, they cannot guarantee that labor was not used in the manufacturing process or that the raw material used was conflict-free. There are many such roadblocks that businesses face. Smart contracts can help here. It will record every exchange and transaction within the supply chain. This real-time traceability empowers enterprises to be more vigilant, responsible, and ethical in their practices. It can also help companies eradicate obsolete processes useless to the business.
Summing Up!
With a CAGR of 24.2%, the global smart contract market is expected to surpass $1460.3 million by 2028. This stat proves that smart contracts have very bright opportunities for enterprises to refine their strategies and processes. Enterprises can also hire experts to know the examples of smart contracts on blockchain technology.
by Anika D | Nov 30, 2022 | Emerging Technology
The mass application of cloud computing technology has been a prime driver of most transformative technology trends. Experts consider it the next big thing after IoT, AI, and hybrid working. That’s not all. This technology is also expected to boost the effectiveness of AR/VR, metaverse, and quantum computing in the coming times.
In the next year, we can expect enterprises to continue leveraging cloud services to access innovative and latest technologies. It will also be vital in driving efficiencies in their processes and operations. So, here’s a rundown of the top cloud computing trends to look for in 2023.
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ML and AI Integration
Experts expect that the demand for ML and AI integration into cloud computing will rise in 2023. Businesses can use this combination for applications like virtual assistants, digital asset management, cloud-based security, reality as a service, etc. It will improve data security, enhance self-learning capabilities, and create more personalized cloud experiences.
Hybrid Cloud Solutions
Companies can consider using hybrid cloud solutions in 2023. The global hybrid cloud is expected to grow from $85.3 Billion to $262.4 Billion by 2027. Companies can get the best public and private cloud technology by leveraging this solution. These solutions offer better flexibility and enhanced data processing. It is a highly cost-effective and scalable solution that will benefit organizations significantly.
Docker and Kubernetes to Manage Cloud Deployment
Kubernetes and Docker provide a platform to distribute software in packages. Using these technologies in managing cloud deployment will enable large-scale deployments. It will offer high efficiency, better scalability, cloud deployment automation, and flexible resource sharing.
This combination will offer a cost-effective and quick deployment. Moreover, the adoption of 5G services and other ultra-fast networking technologies will also help immensely in solving this problem.
Data Security on Cloud Computing
Data security has been one of the major concerns for companies that are using cloud computing on a larger scale. Human errors, malware, and bugs can lead to a serious security breach. Data loss is another threat due to software corruption, insufficient data backups, and unintentional data deletion.
Developers are considering using access control, encryption, and activity monitoring to prevent this issue in 2023. Apart from this, companies can also adopt the best practices to avoid email security compromises.
Cloud Cost Optimization
Over 63% of the technical professionals say that will prioritize cloud cost optimization in 2023 to increase their total cloud ROI. Several organizations are trying their best to optimize their IT services expenditures. To combat this problem, cloud service providers will offer more cost-effective solutions to ensure high-performance levels and availability.
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Summing Up!
So, these trends show that the future of cloud computing is going to be very bright in the coming times. Apart from cloud computing, companies should also keep an eye on the top enterprise technology trends in 2023. It will help them stay abreast with all the latest in the market.
by Anika D | Nov 21, 2022 | Emerging Technology
The technological arena is buzzing with a new term – ChatGPT. Within a week of its launch, it made over 1 million users. Experts also speculate that this platform can potentially replace Google and even humans in the coming times. Surprised and want to know more about it? If yes, you have come to the right place. Keep reading as we shed light on what AI ChatGPT is and can it replace humans.
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What is the AI ChatGPT?
It is a conversational chatbot developed by Elon Musk. It is a prototype dialogue-based AI chatbot that can understand human language. It can also generate impressive human-like text replies. The GPT – Generative Pre-Trained Transformer is a type of text-generating AI.
Users can feed their queries, and the AI ChatGPT will understand the question and reply efficiently. The unique part about AI ChatGPT is that it can also answer follow-up questions, reject unsuitable requests, and challenge incorrect premises.
That’s not all. ChatGPT can also generate detailed texts and write poems. Another distinct characteristic is its memory. The ChatGPT can recollect earlier conversations and present them in front of the users.
What are the Features of AI ChatGPT?
Let us have a look at the top features of ChatGPT and how AI is changing the future of the world.
- Responding to queries and answers – ChatGPT is an advanced AI technology that is specially designed to respond to the questions of the users. 74% of online users use chatbots when searching for answers to simple queries.
- Composition – It can also compose normal texts, literary texts, academic articles, movie scripts, etc.
- Solving computation equations – ChatGPT was proficient in solving mathematical equations and computational problems.
- Correct Errors – Detect, debug, and correct errors in code blocks. You can also connect with an expert to know the different types of AI and their uses.
- Translate languages – ChatGPT can effectively translate different languages for the users.
- Recommendations – ChatGPT can also offer typing recommendations to the users. It can also recommend probable causes and underlying issues.
- Keyword detection and text summarization – This technology can provide effective keyword detection and text summarization features as well.
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Can AI ChatGPT Replace Humans?
You see, professions that include content creation can turn obsolete one day. Be it an author, journalist, or copywriter; everyone can run out of ideas at a point in time. The ability to create human-like texts has evoked suggestions that the latest technology can replace humans.
However, the AI ChatGPT lacks critical analytical skills, nuance, and ethical decision-making abilities. 59% of the users said that it often doesn’t understand human language and 30% said that it performs commands inaccurately.
It also gives wrong and inappropriate answers that present misinformation. So, at this point in time, AI ChatGPT cannot replace humans or take over their full-fledged writing functions.
Bottom Line
So, despite so many qualities, AI ChatGPT can never replace humans. After all, it is a machine that can write and think by humans. But it cannot function like a human brain. It cannot resolve out-of-the-context questions. Technologies are made by humans and cannot replace them at any cost.
by Anika D | Nov 19, 2022 | Emerging Technology
The concept of edge computing has been grabbing a lot of limelight lately. It is high time companies consider investing in it as soon as possible. So, what is edge computing? It is a revolutionary computing paradigm that refers to many devices and networks near or at the user.
It processes data closer to where it was generated in the first place. It decentralise data and reduces dependence on cloud computing. It enables faster processing leading to better action-let outcomes in real-time.
It enhances data privacy and security and improves business reliability and efficiency. Moreover, it also offers unlimited scalability, reduces operational costs, and improves latency. Keep reading on as we outline the applications of edge computing in this post for you.
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Automobile Industry
The edge computing sector is growing at a CAGR of 17.8% in the last five years. It promotes real-time data processing. It enables devices and applications to react to data promptly. Automobile vehicles can use this technology to enhance efficiency, improve safety, decrease traffic congestion, and reduce accidents.
Moreover, it also supports AI and ML applications. Apart from this, companies also heavily rely on their data to make decisions. Applied observability is the new enterprise IT monitoring trend that provides a clear visibility into their data pipelines.
Healthcare Industry
We all have seen how emerging technologies affect nursing care. Fitbits and other health monitors help keep a check on the chronic conditions of the patients. These gadgets can save lives by quickly alerting caregivers through notifications.
In the same way, robots performing surgeries also instantly analyse data to assist accurately, quickly, and safely. All these things are done with the help of edge computing only.
Security Solutions Industry
Security surveillance systems can also be immensely benefitted from edge computing technology. It can help them respond to threats within seconds. Edge computing can help the systems identify potential threats immediately and notify users of any real-time suspicious activity.
Retail Industry
Targeted information and ads for retail companies are based on major parameters like demography set on field devices. So, it can help here by safeguarding user privacy. It can effectively encrypt the data and save the source rather than sharing unprotected information to the cloud.
Smart Speakers
Smart speakers can understand voice instructions to run basic commands with the help of this technology. Adjusting thermostat settings, turning lights on and off, and internet connectivity are some of the features of this technology.
Video Conferencing
Voice delays, frozen screens, poor video quality – a poor link to the cloud can lead to many video conferencing frustrations. Companies can get rid of these quality problems by using edge computing. They can also hire experts to learn more about the applications of edge computing in video conferencing.
Summing Up!
The industry is expected to reach $43.4 billion by 2027. It is an innovative technology that can benefit different industries worldwide. It is a booming domain that can drastically transform how we work and manage business activities.
by Anika D | Nov 12, 2022 | Emerging Technology
What is SIEM?
SIEM stands for Security Information and Event Management. It is an advanced cybersecurity technology that supports security incidents and threat detection. It does that by collecting and analyzing both historical and real-time data. It extracts data from all the devices and applications into one platform.
When an attack is about to occur, it provides insight into all the major IT components like servers, firewalls, and gateways. It also allows enterprises to quickly analyze and identify potential cybersecurity threats and correct them on time. AT&T Cybersecurity, ArcSight ESM, IBM QRadar, Splunk, and McAfee SIEM are some of the top SIEM tools used by enterprises.
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Why is SIEM Important for your Business?
Here are the top advantages of SIEM:
Provides a Holistic View
SIEM provides a comprehensive view of an enterprise’s information security system. All the information is saved in a centralized repository. It includes firewalls, applications, and networks. The authorized people can access and analyze this information to keep their systems safe.
Log Management
Do you know that SIEM can retain and analyze almost 100% of logs across various systems and platforms? The security operations team can use these logs to find probable cyber threats and develop combating strategies. They can also use these logs to strengthen their current data security systems and establish future threat detection strategies.
Compliance
Many SIEM tools help in producing compliance reports. These tools can effectively collect data across the entire infrastructure and check for violations. The information generated here can help the security operations auditors to review compliance standards. This whole process can help companies stay ahead of evolving violations.
Analysis
Companies need help finding correlations between events and data. Moreover, it can play a vital role in this aspect. It can offer more content to their data. Many SIEM tools use industry models to categorize common abnormalities and correlations. This process makes identifying security concerns and fixation quite easy for enterprises.
Threat Detection
No business is immune from cyber threats. Even the US national weapon system is vulnerable to cyber-attacks. SIEM can become a boon for such organizations as it can detect impending danger effectively.
This technology analyses collected data and compare it with the present real-world examples. This data also helps analysts identify potential threats and alleviate it at the earliest. SIEM tools also use machine learning and threat intelligence to recognize upcoming threats as they arise.
Unauthorized Network Detection
It can also play a vital role in detecting unauthorized network connections. It is a boon for companies constantly under the threat of cyber-attack, malware, and phishing. SIEM has emerged as the most effective way to protect companies during such incidents.
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Do you Need SIEM in your Business?
Considering the wide range of advantages, yes. If you are a small or medium-scale business, you should consider investing in this promising technology. In addition, it is an emerging technology expected to reach the 5.5 billion mark by 2025. Moreover, it can also help you become a cyber-resilient organization. In a nutshell, going for it will pay you off in spades in the coming times.
