Ways Technology Is Affecting Major Global Industries


Conventional services and products are being surpassed by digital alternatives, new opportunities in the market are rising rapidly and even established companies are now having to alter their operating models and business strategies to maintain competitiveness in a changing environment. Clearly, the digital transformation has resulted in some notable shifts already, and the world of business will only continue to evolve as more sophisticated technologies begin to appear. For now, here are some ways technology is affecting major global industries at the moment:

The Internet of Things

When considering major technological changes, the Internet of Things (IoT) is often the first aspect that comes to mind. Consisting of objects such as devices, sensors, and other electronics that can identify and communicate with one another through a shared network, IoT has provided plenty of opportunities in industries all across the board. IoT- enabled sensors are already used for monitoring and operating a variety of business processes, devices are used for providing insights regarding products and equipment, while “wearables” are utilized for overseeing people, animals, and their environments. The potential for further implementation of IoT for digitizing and improving processes will be even greater as this technology advances.

Robotics and automation

Automation is another rapidly growing technology trend within a number of industries. By taking over physical work and certain tedious, repetitive tasks previously handled by human employees, automation can help to streamline processes, increase speed and efficiency, and improve the overall quality, while enabling human resources to focus on more valuable tasks. For this reason, automation is most commonly used in the surveillance, logistics, and warehousing sectors, but it is making its way into numerous different industries as well. The use of physical robots, on the other hand, is rarer. However, their speed and accuracy make them a valuable asset in the manufacturing and construction sectors, enabling the performance of repetitive physical tasks at higher efficiency and lower cost.

Rackmount computers

Coming in various types and sizes, rackmount PCs are securely stored in enclosures called rackmount cabinets. This helps to protect the computers from damage caused by outside elements and other sources, but their benefits go far beyond safety and security. Rackmount computers are also built to withstand harsher environments, they are cooled more efficiently, they are managed better, and they offer cleaner workspaces compared to their desktop counterparts. Due to these advantages, rackmount computers can have a number of applications in a wide variety of industries, from traditional office settings needing more secure, space-saving solutions to industrial environments requiring higher durability and resilience due to harsh conditions.

Augmented and virtual reality

Virtual reality (VR) enables users to interact with computer-simulated recreations of real environments, while augmented reality (AR) is a combination of VR where computer-simulated environments and reality are merged. In industries such as architecture and construction, these technologies have been of great help for visualizing drawings, conceptualizing plans, and even receiving crucial information regarding sites and equipment. VR and AR technologies are used for enhancing the customer experience as well, allowing consumers to virtually test products like homes, furniture, and cars before they are actually produced. In addition, the education sector has seen major improvements thanks to the visualization and remote learning opportunities that these technologies provide.

Blockchain technology

A newer technology that’s gaining plenty of traction, blockchain represents a distributed database shared between the nodes of a network. Blockchain stores information digitally, in a way that allows all parties to be in possession of the same data regarding transactions, without the ability to alter this information in any way. Therefore, a blockchain enables multiple parties to carry out transactions quickly and securely, without the need for third-party verification such as going through a bank. A blockchain can help to establish safety and trust, and will likely completely transform the world of business in the near future. For now, sectors such as logistics, energy, real estate, and insurance are already reaping the unique benefits of blockchain technology.

3D printing solutions

A digitally-operated production technology, 3D printing aims to create physical objects according to specifications laid out in digital 3D models. The process of manufacturing is additive, in which objects are created layer by layer using common materials such as plastic or metal until they reach the desired shape. 3D printing utilizes precise and fast machines that can easily print complex 3D objects with a high standard of quality while coming at a lower cost as well. This technology is already used for producing smaller objects in various industries like industrial machinery parts, dental replacement parts, and artificial organs in healthcare. However, 3D printing can also have a major impact on the construction industry, providing a quick, simple, and cost-effective alternative to building.

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