There are various research organizations which conduct surveys and analysis of new and upcoming technologies to know their impact in terms of jobs, earnings and profits for the companies. For example, Gartner is one such organization which provides this type of research based information in the form of graphs and charts as part of Gartner hype cycle and Gartner magic quadrant. According to several such organizations, the following are the best and emerging technologies in the IT industry with their ranking.
In Machine Learning (ML), computers can understand and prescribe the events. For example, a computer can suggest a consumer better purchasing options and items, depending on the analysis of the history of the purchasing pattern and taste of the consumer.
Artificial Intelligence (AI) is at the next level of ML where the machine can take intelligent decisions. The ML and AI technologies blend a variety of other skills and expertise such as neural networks, deep learning, and natural language processing which are keys in Data science.
A data scientist analyzes and interprets complex data to help organizations make better and more timely decisions. Data scientist job is the top most job in IT industry.
Marketing automation is a method to use technology and software applications to launch the business products and services into new markets and automate the repetitive tasks of the consumers. Marketing automation helps to save time, lowers the operating costs of the business, and optimises the performance of the business.
IoT is a technology to interconnect different digital and electronic devices which are in a home or office. In a recent article by Forbes about IoT, it is stated that this technology is going to comprise 30 billion devices by 2020.
IoT is an interconnecting technology. For example, the doorbells could be connected to a voice-based application which tells the information about the person on the doorstep. Every home appliances could relate to each other, such as a refrigerator, microwave ovens, security cameras, television sets, etc., and in turn, connected to the technology.
Cloud is a big memory reservoir that can be used to store data and applications. The market forecast states that in the next five years, 50% of the business organisations and global companies are moving their data to the cloud. So, there is an increased need of providing security to such data. The use of cloud computing technology would ease the worry of security issues of the data for the business firms and help them focus on other important business activities.
Blockchain is a technology that is useful to send or receive digital money. Using block chain, we can add data but we cannot copy, modify or change it. It is originally developed for use of digital currency and Bitcoin.
In the simplest of terms, blockchain can be described as data we can only add to, not take away from or change. Hence the term 'chain' because we are making a chain of data. Not being able to change the previous blocks is what makes it so secure. With blockchain, we don't need a trusted third-party to oversee or validate transactions.
Virtual reality is an artificial environment that is created with software and presented to the user in such a way that the user suspends belief and accepts it as a real environment.
Virtual Reality (VR) immerses the user in an environment while Augment Reality (AR) enhances their environment. Although VR has primarily been used for gaming thus far, it has also been used for training, as with VirtualShip, a simulation software used to train U.S. Navy, Army and Coast Guard ship captains.
Both technologies have enormous potential in training, entertainment, education, marketing, and even rehabilitation after an injury.