Next Gen Technology

Automation has resulted in technological advancements in various verticals and has led to the emergence of next-generation technologies such as advanced robotics, AI, the Internet of Things (IoT), and 3D printing & blockchain. These technologies provide fast data transmission, process automation, and secure data storage in a decentralized manner.

The growing trends of online shopping, increasing use of consumer electronics, greater internet accessibility, and automation of production processes are factors driving the commercialization of next-generation technologies. Government initiatives to spread awareness regarding digital payments, cryptocurrencies, and digital education are also bringing these technologies into the mainstream. The occurrence of COVID-19 has disrupted the global technological landscape and shifted customer focus toward touchless solutions.

Drivers:

• Governments around the globe are formulating cryptocurrency regulations, increasing consumer trust and aiding the storage of financial information using blockchain technology
• Public & private infrastructure programs, such as smart city development and smart factory construction, are fueling advanced robotics, 3D printing & AI
• Rapid need for increased internet speed and rising data consumption are propelling 5G
• Consumer preference toward autonomous mobility is surging the use of AI, machine learning, and IoT among vehicle manufacturers
• The surging use of e-commerce is encouraging market players to use next-generation technologies in inventory management, customer relationship management, order tracking, and supply chain management
• These technologies also assist industries such as BFSI in making their systems and solutions security-proof to decrease the threats of cyber-attacks