Technology has made its presence felt in almost all sectors. According to Morgan Stanley Disruptive Change Researcher Stan DeLaney, emerging trends are likely to affect various markets in the coming years. As 2017 draws to a close, let us take a look at the various trends that will have an impact on future markets.
Machine learning is all about pattern recognition. In the future, we will see radiology and scans detecting cancer earlier than they are detected today. It is also likely that machine learning will be used to scan for genes that might predispose us to certain kinds of diseases. In order to keep up with the change, DeLaney recommends investors to follow the data. “He who controls the data owns the technology.” says DeLaney.
Cars are one of the most expensive to purchase after a home. 9 out of 10 accidents are due to human error and autonomous driving is seen as a safer alternative. This technology will be facilitated by the date processing capability of machine learning. Autonomous vehicles will save 50 minutes a day for drivers. Vehicle crashes will fall by 90% which will save billions of dollars. While most car manufacturers have already made moves towards autonomous driving, it still remains to be seen when it will become a reality.
Augmented reality (AR) is still in its early stages of development but its full potential will be felt over time. It has the ability to simulate real-world scenarios. It is a technology that will have multiple applications. In the future, we will see orientations or trainings being held in a safe environment. In the medical field, AR will allow surgeons to practice complex procedures first before operating on patients. It will also allow consumers to sit on the field at a sporting event or travel to exotic locations.
Blockchain will be most applicable to industries that require sharing of documents or contracts. With its shared-ledger approach, financial firms will see the impact of blockchain on the time, cost, and complexity of how transactions are recorded and how custodial business is done. The technology will help reduce mistakes such as during instances when ownership claims have been made on more shares that a company has issued. It will also help companies like KSM Appliance Repair with their record-keeping tasks. The only problem is that some jobs may be eliminated once Blockchain has been implemented.
CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) is a new tool designed for genetic research that allows scientists to locate specific segments of DNA and easily replace or delete them. This will affect the way healthcare is delivered. With CRISPR, diseases will be cured at the genetic level. The technology will affect existing medical treatments. This technology will help strengthen bacterial defense systems.
As we move towards the future, expect these technologies to have a major impact on various industries. It is worth noting that these are just some of the developments that will shape the future.