Technology never stops. It is something that is continually growing and becoming more and more integrated into our lives by the day. Technology looks for ways to keep users engaged but also creates convenience in our day to day lives. In numerous cases, technology has even surpassed human capabilities, which is why we rely on it so much as a society. Every passing year, technology upgrades from its previous version, and everyone around has to adapt to it in order to continue flowing along with this modern and technological world.
This same goes for the world of business. When you start implementing more advanced technology into your business, it can improve productivity and efficiency in the workplace. With technology, the tedious tasks that needed to be performed previously now become effortless and everything becomes a lot more convenient for the company as a whole.
Nevertheless, a great disadvantage when it comes to technology is that if people don’t get ready for the changes that are occurring every year with technology, they can fall behind, and as a consequence so will their business.
Businesses nowadays are always looking for technological innovations in order to maintain themselves relevant, as it is a factor that everyone looks up in everything. For instance, when the pandemic got underway earlier this year, casinos were forced to close due to restrictions placed by the government and state and in order to continue as a functioning business, they had to convert to an online-based business. Casinos such as https://casinoorbit.com/de/online-casinos-ohne-deutsche-lizenz/ did this by using technology to continue to thrive.
These days, people are aware that most businesses have an online presence of some sort whether it’s a social media page or full-fledged website that offers their services to its clients. If not, that business is almost sure to be a failure at some point down the line. If a business doesn’t utilize the technology they might affect the ability that they can communicate or interact with their customers in the long run.
On the other hand, for those who are successful these days are the ones that are ahead of the game when it comes to keeping an eye out for technological advances and the latest trends.Below, you’ll find a list of some of the future technological advances in business we can all expect to see within the next 5 years.
Facial Recognition Technology
Facial Recognition Technology is the next big thing in technology, it will serve businesses as a way of identification, either for their employees or for their customers. Using facial recognition is a great way to identify and authenticate a person by considering all biometric measurements. This method will make the recognition process of a person as well as overall security of our everyday lives to another level entirely.
Artificial Intelligence (AI)
You have probably heard about Artificial Intelligence, and although it sounds like a myth it will be much more prevalent sooner than you think. What much of the world doesn’t realize is that AI is already running many of the technology and applications that we use on a daily basis. It is said that AI can enhance and correct the customer’s experience when doing business. In the same way, people believe that AI can even correct business operations because of its precision and excellent development.
5G Technology is coming soon to a phone or tablet near you. When it comes to business, 5G will be a significant improvement to the speed of transactions, network connections and more. In addition, 5G technology will include top-notch technology, including the latest cutting edge networks with an ability to navigate and download faster than ever before.
These are just a few of the technological advances that are expected to appear in the next couple of years, start preparing yourself for them, as they are most likely going to benefit your business in a variety of ways.
What the D.C. Riots can Teach us about Technology
Washington DC just witnessed violent riots that took most people by surprise. But for people who have been observing trends on Social Media keenly, the signs were there to see.
The events that led up to political extremists storming the capital have been building up for a while now. Much of that build-up leading was taking place on Social Media.
Now that we know how dangerous Social Media can be, there are some touch lessons for the tech community to learn.
There is no doubt that technology has done so much good within Washington DC. Law enforcement agencies have leveraged the power of Social Media to trace and apprehend individuals who participated in the lawlessness of that day.
The riots in D.C. have brought to the fore the good and bad side of technology.
How Technology Enabled the Riots in Washington
It is impossible to deny the role of technology in making what happened at the Capitol even possible. Platforms like Twitter had rioters openly agitating and organizing during the lead up to the event. Little attention was paid to them.
Extremist groups congregated and coordinated their activities on Social Media networks including Twitter, where they built up the momentum to their big day when they stormed Washington.
As the rioters plotted together with like-minded people and groups like QAnon on Social Media, they also spread lots of misinformation.
Fact or Falsehood?
One of the major observations from the activities of the few weeks is how falsehoods get retweeted more frequently than facts.
Because social media users aren’t protected enough from misinformation, misinterpretations and lies often spread faster than facts.
This easily leads to events like what we witnessed on the 6th, when mobs of rioters stormed the Capitol in Washington DC.
Social Media companies have been the subject of much criticism for their failure to act in a more timely fashion. If groups like QAnon had lost their social media platform earlier, they would not have successfully mobilized for the D. C. riots.
The Role of Tech Companies in Security After the Riot
It may seem like the role of technology in these riots was a purely negative one, but technology has also played a positive role in the situation.
Because the riots were so widely publicized on Social Media with thousands of photos, videos, and live streams, law enforcement had an easy time tracking down rioters with facial recognition technology.
The vast wireless network on the Capitol helped law enforcement to track devices within the building. As the rioters stormed the building, their IP addresses were picked up by the network. This made them easily identifiable by their phone records.
Social Media no doubt played a role in making the Washington DC riots happen. But it is also a useful tool for bringing the law-breaking rioters to book by providing a record of their intentions which are admissible in a court of law.
Besides just providing evidence after the fact, law enforcement agencies are working on using Social Media to predict such events before they occur and act to stop or prevent them.
How the Capitol Riots Could Shape the World of Technology
The riots in DC brought in light the good and bad aspects of technology and now people are even more aware than before of the influence of technology on public safety.
This newfound awareness could shift the way America handles technology going forward. Tech companies are taking a more proactive approach to dealing with threats, and the government is putting technology at the center of its security operations.
Because Washington D.C.s wireless infrastructure was so instrumental in tracing and apprehending the rioters, it is likely that more attention will be focused on establishing more smart cities across America in order to enjoy the security benefits. Experts foresee that smart cities will grow by 18.9% per year over the next five years.
Law enforcement can be a lot more efficient if they can leverage a more connected city infrastructure
Twitter and Facebook responded to the riots by locking Trump’s social media accounts ostensibly to keep him from inciting more violence.
This is the most drastic action that a social media company has taken against abuse of their platforms by public officials.
Social media sites could become more proactive in future to identify and address these threats in time.
Technology’s Power for Good and Evil
Technology is as good or as evil as its users. The D.C. riots have demonstrated clearly that technology’s greatest strength is also its greatest power to harm.
Technology’s power of positivity or destruction is possible depending on how it is used.
We cannot condemn technology in total even after what happened any more than we can keep going without changing anything.
The greatest lesson is that individual users, tech companies, and authorities must be vigilant to harness the power of Social Media for good while mitigating evil.
China to Reign in Risky Borrowing and Fraud using Financial Data from Tech Companies
To combat fraud and risky borrowing, the Chinese government may turn to local tech companies for help.
Anonymous sources told Reuters that companies like JD.com and Tencent (affiliated with Alibaba) may have to give up users’ loan information.
With such a move, China would be exerting even higher levels of control over the internet.
Under the new plan, tech companies would share loan information with Credit agencies under instruction from the People’s Bank of China.
Lenders will then be able to access this information from credit bureaus and use the information to evaluate the risk of lending to individual borrowers. These credit agencies include Baihang Credit and Credit Reference Center.
The policy may work in favor of smaller lenders who take on a higher degree of risk than larger lending companies.
Payment platforms like Alipay and Ant Group have a billion users collectively which means that they possess a wealth of information that smaller lenders can benefit from.
WeBank is a small consumer lender controlled by Tencent and JD Digits is under JD.com.
According to Shanghai-based Fintech entrepreneur Alex Sirakov, China will be making the right choice: “China seems to be making the unpopular, albeit right choice to sacrifice the current closed loop mentality financial paradigm in favor of a broader digital identity framework with potentially better access and greater efficiency in the long run.”
Large tech companies wield so much power in China that the Chinese Communist Party is growing more and more concerned about them.
Ant Group was supposed to debut on the stock market in November, but the $37 billion IPO was cancelled two days before it went live. It was an anticlimax.
The People’s Bank of China demanded that the Ant Group mends its business in order to meet government regulations and make itself more cooperative with the government and transparent in its dealings with micro-lending services.
Chinese government regulating agencies are now investigating ecommerce giant Alibaba. The mere announcement of these investigations led to a significant 9% dip in share prices.
East Asia Economics expert Richard McGregor said this to AFP: “There is an underlying political message that no company and no individual can grow so big in China to the point where they can potentially challenge the authority of the [Chinese Communist Party].” McGregor is based at Sydney’s Lowy Institute.
The Israeli Startup Driving a ‘Tree Farming 4.0’ Revolution with AI
An Israeli startup has benefitted from a substantial funding for their AI-powered tree-care drone project.
SeeTree is a startup that is working to help farmers care for their tree using Artificial Intelligence. The startup just received a $30 million funding in a Series B round led by the International Finance Corporation and supported by Citrosuco, Netafim, Orbia Ventures, and Hanaco Ventures who all participated in Series A.
Citrsco is an orange juice firm and Netafim is in drip irrigation.
SeeTree makes it easier for farmers to monitor their trees’ health and track the growth of each tree. It also helps develop individualized plans for the care of single trees or tree clusters.
By fitting fleets of drones with multi-spectral sensors, SeeTree captures ultra-high-resolution images which can be analyzed and compared with soil samples and tree samples.
The company then leverages Machine-Learning algorithms to carry out analyses and feed farmers with information they can act on in real-time to care for their trees. This information allows farmers to understand the state of their trees with regard to water consumption, pests, soil, growth rates, and diseases among other factors.
“We started with citrus and are servicing the largest citrus growers globally. We have a strong playbook and will continue scaling within citrus. We are now equally focused on growing our offerings into new crops such as almonds, olives, and hazelnuts, where we are already deployed and supporting farmers” explains CEO Israel Talpaz.
SeeTree’s work force of 120 is already hard at work monitoring more than fifty million trees in South Africa, Brazil, Chile, and the United States.
“Our vision is to enable the ‘Tree-Farming 4.0 Revolution’ with the Intelligence-per-Tree that we provide. SeeTree as a standalone solution can reduce operational expenses by 20-40%. By connecting SeeTree to tractors, irrigation systems we can unlock additional optimizations to further increase the value to our farmers,” adds Talpaz.
SeeTree has raised more than $45 million since it was founded in 2017 by Israel Talpaz, Barak Hachamov, and Guy Morgenstern. The tech company now wants to use their latest round of funding to take their revolution worldwide, take care of a wider range of crops, and develop their R&D and service delivery capacities.
“SeeTree has scaled in a massive, but frankly difficult-to-penetrate, market,” says Board Director Pasha Romanovski who is also a cofounder at Hanaco Ventures.
“The SeeTree team, led by Israel, has been able to productize a tremendous amount of deep technology into a platform accessible to farmers. They’ve developed great technology and have been able to execute in an important market ripe for innovation – trees.”
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