Human civilization experienced rapid transformation in technology with the start of the 21st century. Analysts have termed this rapid growth in the internet and tech as the 'Third Industrial Revolution. All the previous industrial revolutions took significant strides in improving human communication. The first and second industrial revolutions allowed humans to harness the power of agriculture, factories, and electricity, giving rise to urban living. The third industrial revolution turned the conventional internet into the internet of things and gave birth to a sharing economy. The five technology trends discussed below made this shift possible and will continue to shape the future of communication:
1. Penetration of Artificial Intelligence in Human Lives
Smart devices are now part of the norm. Technologies like Alexa, Siri, Google Assistant, etc., have made headways into the consumer market. These intelligent technologies work over AI concepts and rely on machine-based learning and Big data for constant improvements to provide an extremely personalized experience for the end-user. These devices seamlessly integrate appliances, homes, and tech devices and can be controlled with a single touch on a smartphone. AI has given our conventional devices a 'new brain' to communicate with other devices and work coherently. An example of improved communication through AI is that a user can program and sync his home network to his smartphone and turn their appliances off or on at will.
2. Roll Out of 5G Technology
Network service providers worldwide started adopting 5G technology, and as estimated, the rollout will be complete by the end of 2021. 5G will bring revolutionary changes in the way humans have experienced connectivity. An individual aiming to learn more and take advantage of the changing trends need to know that an online degree in communications will pave the way to enter the industry. 5G will offer enhanced mobile broadband with faster download and upload speeds, lower latency, and smoother integration with 5G-enabled devices. It tends to revolutionize the way consumers view and consume content.
3. FinTech Revolution and Modern Banking
The advent of online banking removed the need for having brick-and-mortar banks. The entire banking industry has seen a global consolidation, i.e., reducing physical branches and improving online banking services. The need for visiting branches in person will become a thing of the past with services like mobile banking, cryptocurrency, blockchain technology, online trading, and investments. Security of data is crucial for banks as customers trust them with sensitive personal and financial information. The FinTech revolution is changing how people previously viewed banks and the financial industry. A much more significant focus is on securing networks.
4. Cloud Storage For Everyone
Services like iCloud, Google Drive, and Dropbox have revolutionized all industries. They brought cloud storage to the fingertips of individual users and businesses alike. Cloud storage has enabled users to store, access, and modify data on-the-go as long as they have a stable internet connection and a smart device. It has increased communication and productivity by manifolds as employees can now access employer servers from their home's comfort. Jobs that could previously require a designated office can get completed, reviewed, and submitted from anywhere in the world. Moreover, cloud storage has changed how companies make backups as storing their backup data in the cloud is less expensive and more secure and convenient.
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5. Traditional Media versus Social Media
Television, radio, print, and out-of-home advertising used to form a significant chunk of conventional media communication. Even today, leading companies' marketing and communication budgets remain involved in advertising on television. However, the invention of social media is changing this game. Several industries have realized that social media communication is more cost-effective and provides better targeting. It allows a dynamic range of interactive content that could be useful to generate higher revenues. Facebook ads, Google ads, and other platforms have made it convenient for brands to target the desired audience. Now the marketers can create tailor-made campaigns even with smaller budgets.
Conclusion
The field of communication has seen rapid expansion ever since technology made headways in improving the existing structures. The past century has changed the way humans look at telecommunication. The world has come a long way from telephone transmission lines to VOIP services and can now enjoy seamless video-conferencing, accelerated by the onset of a global pandemic. Clients and companies can be based in any part of the world and can still communicate freely and get tasks done.
Remote-working and the concept of freelancing and online business have given birth to a new generation of entrepreneurs. They run multi-million-dollar businesses from the comfort of their own homes and with the use of intelligent devices.
However, these trends will snowball further, with more revolutionary services popping up every day, making communication and productivity reachable and cheaper for end-users.
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