In the essential 8 technologies, we looked at the technology’s relevance to companies and industries; (global reach; technical viability, market size and growth potential including the potential to become mainstream); and the pace of public and private investment in them. In the technology disruption the Essential Eight, we also assessed the business impact and commercial viability over the next five to seven years.
Here are the Essential Eight and how they are poised to reshape our world:
Artificial intelligence (AI):
Artificial Intelligence is an “umbrella” concept that is made up of various subfields such as machine learning, which focuses on the development of programs that can teach themselves to learn, understand, reason, plan, and act when exposed to new data in the right quantities.
Augmented reality (AR):
This “augmentation” of the real world is achieved via supplemental devices that render and display said information. AR is distinct from Virtual Reality (VR); the latter being designed and used to re-create reality within a confined experience. Addition of information or visuals to the physical world, to improve the user experience for a task or a product, via a graphics and/or audio overlay
Its one of the essential technology where distributed electronic record that uses software algorithms to record and confirm transactions and anonymity with reliability. In the blockchain technology, the record of events is related to blockchain shared between various parties and data once entered can’t be changed, as the downstream chain reinforces upstream transactions.
Drones can operate autonomously on a predefined flight plan or be controlled remotely. Water or Air based devices and vehicles, for example, that fly or moves without an onboard human pilot, Unmanned Aerial Vehicles.
IoT(Internet of Things):
The concept of IoT has come to represent any system that is now “connected” and accessible by a network connection. IoT allows devices to be connected and remotely controlled or monitored. The industrial IoT in sort (IIoT) is a subset of IoT and refers to its use in industrial sectors and manufacturing
this is the also main essential technology where virtual specialists that automate or electro-mechanical machines, enlarge or help human activities, according to set instructions often a computer program or autonomously
Virtual reality (VR):
Virtual reality typically requires equipment, intended to be an immersive experience most commonly a helmet/headset. A system-generated simulation of a three-dimensional image or a complete environment, inside a characterized and contained space, those viewers can communicate in practical ways.
3D printing relies on innovative “inks” including plastic, metal, and more recently, glass and wood. Additive manufacturing techniques used to create three-dimensional objects based on digital models by layering or “printing” successive layers of materials.
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