Information technologies are accelerating at an exponential rate, ushering in the fourth industrial revolution. This is a digital revolution and the pace of change is unprecedented. This revolution incorporates machine learning (think parallel processing and neural networks) and the concept of self-assembly or self-programmability. As technologies continue to advance, they accelerate the progress of other technologies, and so on, and so on.
To illustrate this, we can look at the evolution of disruptive technologies. In 2016, everyone was excited about the promise of 3-D printing. Now, we’re gearing up for 4-D printing, an emerging technology that will enable us to print objects that reshape or assemble themselves on-the-fly, based on intelligent data.
To make this level of self-assembly a reality, we will need dynamic and agile systems. Enter the Internet of Things (IoT) as the digital platform of the future. But the potential of the IoT has evolved into the “Intelligence of Things”. Even Uber, the popular ride sharing app, has advanced its concept of on-demand travel to incorporate a fleet of electric aircrafts (called “Elevate”) to lift us up and out of the chaos of gridlocked ground traffic (yes, just like in “The Jetsons”).
The old approach to technology development moved linearly at the speed of human coders. The new model progresses exponentially at the speed of data, intelligence and self-assembly. Based on this new model, here are my top picks for technology trends that will dominate in 2017:
1. AI and Advanced Machine Learning: The Automatic Enterprise
Thanks to parallel processing, big data, cloud technology, and advanced algorithms, Artificial Intelligence (AI) and machine learning are becoming more powerful. As tech giants like Google, Facebook, and Apple invest in AI, it is becoming more mainstream. People already interact with virtual personal assistants (PAs) like Apple's Siri and Google Assistant.
Facebook successfully created technology to identify people’s faces with its facial recognition app. Recommendation engines and robo-advisors are becoming a reality in financial services. And robotic butlers are delivering room service in hotels around the world. The analysts are jumping on board, with Forrester predicting that investments in AI will grow 300% in 2017 and Gartner forecasting that 50% of all analytical interactions will be delivered via AI in the next three to five years. These are impressive numbers. But how will these investments pay off for the enterprise? Are computers really more intelligent than people?
Many jobs will disappear through automation and others will change significantly as the enterprise becomes more automated and intelligent. Over the next few years, some of us could be answering to robo-bosses.
From a productivity perspective, we spend a third of our time in the workplace collecting and processing data—AI could all but eliminate this work. Every job in every industry will be impacted by machine learning. The upside? The opportunity to think exponentially means that the potential applications for these technologies are limitless.
For businesses, understanding cognitive systems, big data analytics, machine learning technology, and AI—and how to leverage them—will be critical for survival. In the short term, these technologies will give organizations faster access to sophisticated insights, empowering them to make better decisions and act with agility to outpace their competitors.
2. The Year of Intelligent Things: A Smarter You in 2017
The capability of smart machines increases substantially as they are infused with standalone intelligence.
AI and machine learning will be embedded into everyday things like appliances, cars, sensors and drones. Even our thermostats will continue to become more intelligent; they will not only learn our heating and cooling preferences, but also analyze factors like on- or off-peak use, weather forecasts, and previous consumption patterns to give us recommendations to reduce utilities bills.
This intelligence will be coded into apps. These apps will be driven by data and context, they will synthesize vast amounts of information, learn our behaviors, and react and adapt in real time to deliver relevant and personalized outcomes. Whether they make us more productive at work, optimize our health, or manage energy and utilities consumption in our homes, intelligent things and apps have the power to direct our actions and influence our interactions to help us make better decisions and, ultimately, improve our quality of life.
3. Get Ready for your Digital Twin
In 2017, advances in connectivity and machine intelligence will enable us to demonstrate the large-scale advantages of digital twins.
A digital twin is a dynamic software representation of a piece of equipment or system that emulates the original’s materials, measurements, component parts, and behavior. More importantly, a digital twin also includes data that is unique to the asset it represents. Digital twins are created and maintained to allow simulation, analysis, and control. Initially developed by the military for aircraft, digital twins are gaining traction in other industries, such as renewable energy and manufacturing. The GE Digital Twin has created cloud-based computer models of wind farms which connect turbines while collecting and analyzing data to make them 20% more efficient. Black & Decker has digital twins of assembly lines and materials in one of their factories and has reported improvements of 12% and a 10% increase in throughput.
Over the next year, organizations will use digital twins to boost efficiency, optimize design and performance, and improve quality. Over the next five years, billions of objects will be represented by digital twins, including equipment, facilities, environments, processes, and even people. For every physical asset there will be a virtual copy running in the Cloud. Their potential lies beyond demonstrating proof-of-concept to mirroring an entire supply chain to support globalization and promote economic gain. In the not too-distant future, our own digital twins will help us make better decisions. As the next version of the virtual PA, an algorithm-based identity will maintain all of our preferences and relevant data, prompting us to act based on this information through notifications, reminders, recommendations, and more.
Whether you’re ready or not, the fourth industrial revolution is here. We are witnessing incredible breakthroughs in every industry, driven by disruptive innovation. And the possibilities for application are unlimited. To quote Sun Tzu: “In the midst of chaos, there is also opportunity.”
I wish you all a Happy New Year and great success in 2017.
Mark Barrenechea is CEO and CTO at OpenText