As 2017 is coming to a close, the current popular tech trends will be expanding their wings into 2018. The one thing we need to note is that technology will be embedded into every aspect of business, ensuring a digital future.
So what tech trends do we have to look forward to in 2018?
Artificial Intelligence (AI) and Machine Learning
The incredible power of AI will enhance decision making, reinvent business models and remake the customer experience. A Gartner survey showed that 59% of organisations are currently gathering information to build their AI strategies, while the remaining 41% are in progress of adopting AI solutions – this is phenomenal.
In “heavy industry” where use-cases for machinery are far more complex than getting from A to B, there is an expected influx of new technology. In fact, autonomous machinery is anticipated to be widely adopted before self-driving consumer cars. Examples include far more improvements in light based technology such as LiDAR, RADAR, and GSP systems. There’s currently a range of machine learning applications in robotics, and the practicalities of both self driving, and self operating machinery is a lot more apparent on the worksite vs the roads.
Moving forward, AI will be incorporated into every application, app or service on some level and will allow machine learning to automate data preparation, insight discovery and analytics for strategic growth. The ability to incorporate AI in business modelling is promising, but also very exciting and there will be a large drive for this throughout 2018.
Blending the real and virtual world creates a digitally and enhanced connected environment. Digital twin technology is exact digital models of a real-world entity or system that is designed to bring static objects into the digital world. By using sensors, conditions, speed and other information, intelligent future predictions can be made, meaning the digital twin can be altered until it reaches peak performance. Only when a digital twin performs to specific requirements will it be physically manufactured. Companies who invest in digital twin technology in 2018 will see a 30% improvements in cycle times of critical processes.
The Oil & Gas industry has embraced digital twin processes within the construction of well, rig and downhole equipment, using mathematical models, software algorithms and data models to drive a representation that’s as accurate as technically possible. This has led to more efficient and agile workflows, and better decision making processes.
Although not a household buzzword, Blockchain is the invisible technology that is changing the world. Simple put, it is decentralized technology – no one person controls the information. Think about a blockchain as a distributed database that maintains a shared list of records. These records are called blocks, and each encrypted block of code contains the history of every block that came before it with timestamped transaction data meaning nothing can falsified. These are linked together and secured through cryptography.
How will this affect construction? There’s the possibility that blockchain technology will replace existing structures with a real-time, collaborative environment, and has applications within the BIM industry, with some suggesting that this will be the next big thing to chain transparency and efficiency in the industry.
The coming few years are going to be incredibly exciting for the development of tech trends.