Our world is developing at an exponential rate and those things regarded as impossible back in the days are gradually becoming reality in our presence.
Right now, we can conveniently say that the fourth industrial revolution has dawned on us.
What we saw in movies such as Minority Report, Total Recall, I-Robot and Ghost in the Shell among others are now more real than we can ever imagine.
In as much as this is a welcome development, the speed at which the world is evolving is so frightening at times.
Ever since the turn of the century, all the industrial revolutions that man has ever achieved and surpassed has been triggered by a primordial hunger that is geared towards simplifying every problem he encounters and making his environment easy for him to operate and manipulate
In some instances, this hunger can be termed selfish drive because it solely focuses on man’s benefits but it has seen man conquer almost everything on earth and now, his sight is set on venturing into space and exploring other worlds.
In the last few years, some private individual’s vision have come closer to reality than ever before especially in the realm of commercially built spaceships and it is just a matter of time before humans colonised other planets, starting with Mars.
Man will never be satisfied with his present circumstances and the urge to create and to some extent destroy, is just part of him.
This urge will see him create better things continuously, thus paving way for the evolution of disruptive technology. If this urge remains part of human nature very much, technology will keep evolving.
The rise of technology has seen man create technological concepts such as automation, Artificial Intelligence, machine learning, bio-medics, augmented reality, quantum computer (Supercomputers), IoT and Smart cities among others
All these innovations may still be in their early stages, but they have basically affected man’s relationship with himself and how he relates to his environment.
With these technological innovations, one can then start to question what the future of business holds across the world.
How will the world combat the growing population in the face of machines taking over many jobs?
Across the world, business organisations are beginning to invest more in Artificial Intelligence capabilities to accelerate and individualize customer service experience, achieve high productivity and reduce human bias that may lead to errors.
Organisations are now more aware of the benefits that come with infusing the AI technology, into their processes.
According to the MuleSoft’s Connectivity Benchmark survey 2019, which anticipates a 95 per cent growth projection in the adoption of AI this year, AI will be more infused and used for:
Surgical robots, warehouse pick-and-place robots and drones
In financial services, AI is used for fraud detection, investment services and loan approvals
In retail, AI is used for personalised offers and promotions. 53 per cent of consumers are willing to allow retailers to track their shopping behaviour if it means they can receive personalised offers and promotions.
Healthcare institutions use machine learning to enhance disease detection.
There is a growing concern about the growth of technology that is already rendering some jobs obsolete. Humans no longer have the monopoly of driving the — Finish Reading on the Punch