How Tech Is Disrupting Leading Industries
If you take a look at today’s industries, you’ll notice there are tech tools in almost every department. Companies need to adapt to new tech trends. We could say that technological disruption is natural and that it has taken place throughout history. In this post, we will understand how tech is disrupting leading industries.
Machines are smarter than us
During the transition from manual manufacturing to the industrial revolution, the whole economy changed due to technology. There were a lot of jobs lost to automation; while in the past, farmers needed a massive group of people to do farming-related tasks, there was no need to hire that many farmers when machines could do all of those tasks.
Although we’ve experienced this is in the past, this time is different for one reason—technology is developing faster than ever. According to Big Idea, computers double their capacity each year. This means that we’re getting closer to the stage where machines are smarter than us. However, we’re not there yet, so companies can still leverage technology to improve their efficiency. Here we show you some of the ways that technology is disrupting leading industries.
Artificial Intelligence (AI) is a discipline that works with deep learning. AI refers to computers’ capability to simulate human behavior. Therefore, it is an essential component of automation. Although it sounds like science fiction, AI has been around for more than 60 years. The term Artificial Intelligence was first coined in 1956 by John McCarthy. However, the discipline evolved a lot in the following years.
Today, AI is used for automation in many industries. Digital marketing uses AI to automate customer service by using chatbots. These bots are available for customers 24/7. Therefore, the customer service department has been disrupted by technology.
But this isn’t the only example of AI. Artificial Intelligence is also used in the financial industry. AI can identify fraud more accurately than any human could. Artificial Intelligence is one of the most promising technologies we ever created. Experts even say that with time, AI will revolutionize the healthcare industry to detect symptoms earlier and more accurately.
In the past, we used to believe this was something only humans could do. We thought that machines would only be able to perform tasks if we programmed them to. But what if you could make your computer learn by itself? Machine learning is the ability of machines to learn from experience.
Machine learning is used on data science to optimize the process of filtering and identifying data, but today it is widely used in many industries. The translation industry could be at risk of automation due to machine learning. Even one of the largest translation companies could fall. One Hour Translation’s CEO, Ofer Shoshan, believes that soon the role of translators might disappear due to automation.
Internet of Things
Today, the number of devices connected to the Internet is growing exponentially. The Internet of Things (IoT) trend is taking over, and that’s why we have IoT coffee makers, IoT thermostat systems, and so on. The evolution of IoT will continue to grow. According to Arya Systems, the IoT industry is expected to reach $3 trillion by 2025.
IoT has the power to disrupt almost every industry, from agriculture to energy and healthcare. One of the most beneficial tech advances in IoT is health sensors. These sensors are either implanted or used as a tech wearable to detect changes in blood pressure or blood glucose levels. This is important because patients can detect early signs of a heart attack, for example. These sensors are connected to the Internet, so they can call 911 if there’s an emergency.
Have you ever imagined a world with smart traffic lights? Gridlocks would become a thing of the past. This is possible by using IoT traffic lights connected to vehicles. This is a model that’s being designed for autonomous cars. However, sooner or later, we’ll have this traffic light system in our cities. IoT could potentially revolutionize the automobile industry as we know it.
Technology is changing almost every aspect of our lives. Therefore most industries have started to implement tech tools to stay on top of trends. Industries that stick with old methods are at risk of being disrupted. Yet, in the future, we’ll probably see more advancements in Artificial Intelligence and IoT systems.
Artur Meyster is the CTO of Career Karma (YC W19), an online marketplace that matches career switchers with coding bootcamps. He is also the host of the Breaking Into Startups podcast, which features people with non-traditional backgrounds who broke into tech.