Technology has completely transformed many different industries in the last 20 years, with most businesses now relying on technology to be successful, stay efficient and meet their customer’s needs. From automation to eCommerce, there has been an astonishing amount of tech implemented in the industry in recent years. However, this has not always been the case, and this article looks back at the last decade to see how tech has started to change the way that companies do business with each other in the modern world.
The entertainment industry, which includes aspects such as gambling, gaming, and media, has completely transformed since its roots. Although much of entertainment has always been technology-based through innovations in film and computer techniques in order to create their work, technology has now started to change how we consume entertainment. For instance, streaming sites have completely dominated the market for the last five years, with nearly half of homes now having access to a streaming service, and have even started to open their own production companies to rival large film businesses. Rather than go to the cinema or invest in DVDs, you now have the option to stream any film you want directly into your home through changes in computer technology.
Not only this, but entertainment such as casinos have changed drastically, with many casinos on the high street now shutting down in order to be replaced by online games and betting sites. Not only do these sites provide platforms on which to bet, but they also offer volleyball livestreams and other resources to help punters to keep updated with games.
Change is crucial to engineering in order to keep up with the demands of customers and the needs of the modern world, and their adoption of technology has proved this. Engineering has evolved in recent years to focus on data-driven techniques, using elements such as the IoT to develop and store information, as well as to manage operations to make them more efficient. Data from different industries, such as aircraft and automobile industries, is also being used to hone engineering designs and ensure that they are optimised to battle frequent issues with the products that are being developed. Tech has completely modernised the types of engineering that are in demand, with a number of new skills being taught. This brings about new roles, such as those in computer engineering. They are starting to focus on businesses’ migration to the cloud in the next few years to come.
The big feature of technology which has allowed manufacturing processes to improve is automation, with many manufacturers using this to allow them to increase their core productivity. Additionally, this ensures that documentation and admin can be filled in efficiently. Not only this, but manufacturing facilities also use automation and machine learning to ensure that their safety protocols are in place and to decrease wastage. There have also been innovations in the tools that manufacturers use to make their products a success, with elements such as 3D printing allowing them to create and edit prototypes within seconds, transforming their designs directly into the finished product.
The world will always need food, and so the food industry is one of the most useful industries that technology can help to modernise. Though surprising, the food industry is also being transformed beyond recognition by technology, as robotics are not being used to ensure that good quality standards are being constantly met by companies. Robotics in the food industry are also reducing the safety issues that are rampant in the food industry, while also being able to meet demand through their ability to increase productivity in the sector. The food industry has also started to rely on the use of drones, which track elements such as the weather and soil to ensure that crops are grown to their optimum. The managers are then aware of any problems that might occur with the food that they are cultivating. This can help to analyse the produce that each crop will make, as well as check for diseases and contamination that could cause problems when they are put on the market.
Although banking is a reasonably traditional industry, even finance has seen many changes in recent years that has influenced its modernisation. This includes personalised advice and services through the use of artificial intelligence to ensure that people are able to understand their financial position.
Banks are starting to modernise by transferring to open bank models that rely on aspects such as account aggregation and the widening of their services to include tasks like taking deposits from exterior organisations, such as cafes and shops. There has also started to be marked increases in the number of chatbots that are used to calm customer concerns about their banking and answer common queries, as well as the use of blockchain as an investment to coincide with the use of AI.
Technology has modernised the way that students consume education, allowing students to become more self-motivated by providing the tools for them to perform their own research on projects and to conduct studies from anywhere in the world. Technology such as remote learning portals has allowed students to connect to their coursework and see their results at any time. As well as this, interactive learning that involves smart boards allows students to interact with the content shown on screen, whether that is through writing on the board, playing videos or using the touchscreen to play educational games.