The Internet of Things (IoT) has become firmly embedded in the lexicon of the tech world, and is now becoming increasingly commonplace in everyday consumer lives as well. As we look back at the innovations in the IoT in 2017, what will be the areas to watch in 2018? Keep reading to find out what we see as the big contenders.
Big Data Analytics
A few years ago, the tech world ended up with a bit of a problem: it had massive amounts of data, but had no tools to put it to use. The internet had given us a way to keep much better track of many things from consumer behavior to automation stats, but we didn’t have the software to process these data sets in order to make business decisions.
Since then, machine learning engineers have been busily working to produce an array of software to process this data, and in 2018 we will see results in a very big way. They won’t take the world by storm by any means; there is still a lot of refinement to be done to achieve real, actionable results. However, 2018 will be when the snowball starts to roll down the hill, and this snowball effect will change the face of business development.
Although health care tech is a treacherous road to go down due to layers upon layers of regulation, health care tech will continue to experience innovation in 2018. While futuristic devices that promised to do things like monitor blood glucose levels with a contact lens are still a ways off, easier-to-understand technologies will become a part of regular life in 2018. Doctor-to-patient communication will be facilitated via smartphones, making appointments easier to come by. Internet of Things (IoT) gadgets will continue to show up in the consumer market, which can perform any number of health-related tasks like remind patients to take their medications, monitor exercise or tell patients when their blood pressure is starting to rise. Health care tech will be a slow uphill climb any way you slice it, as dealing with the human body must be done very carefully; but as they say, slow and steady wins the race. Stay tuned.
There is probably no bigger buzzword in the tech world – and probably the business world as well – as blockchain. Blockchain has led to cryptocurrencies like Bitcoin, a major investment market in 2017. This innovation will change the way almost any transaction takes place, whether buying a cup of coffee or purchasing a home in a foreign country. With its unrivaled transparency and speed, blockchain acts as the new dollar bill.
That said, you’re probably not going to complete any blockchain purchases in 2018. ou will,however, see this market intensify. New blockchain companies will come into fruition, and leaders in the space will soon start to become obvious. If you’re an investor, keep your eye out for these blockchain leaders as they begin to rise to the top – there will be big capital returns to be earned in 2018 and beyond.
This is a field that has been getting extensive coverage lately, and 2018 is when we are really going to see it disrupt the property industry. Property is an arena that has been desperate for innovation, although many of its decision makers are hesitant to make a change. In a field that’s historically behind the trend, property technology, or proptech, can no longer be held back. In 2018, building information modeling (BIM) will start to record data on every step of building construction and maintenance, from the blueprint stage to laying bricks to optimizing energy efficiency.
In addition to large-scale software solutions, the smart home will experience another round of gadgets that will take the consumer market by storm. Alexa was a smash hit in the 2017 smart home, and with developers clamoring for the next big thing, consumers won’t have to wait long.
Keep an eye on these Internet of Things trends in the new year – they’ll move fast!