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What is the latest trend in IT?
Every year, Future Today Institute publishes a report on the latest tech trends and how it will affect different sectors of the economy. The number of innovations which we are seeing is evolving faster than ever. It is important for a company to pay attention to the latest tech trends for the growth and success of the company. A company should be aware of the latest innovations in IT and how to apply emerging technology trends to business development.The market research firm predicts companies worldwide will spend more than $3.5 trillion on IT in 2019.This means that there are billions of dollars at stake for the growing tech trends, things that developed within that last few years are ready to take off and become mainstream next year.Gartner and other market research firms predict the following latest tech trends will be the biggies in 2019:Visual EngagementToday, customers want fast, easy and effective engagement. Companies need to adapt a customer-centric approach to offer quick and excellent customer services and to build a long-lasting relationship with the customers. Visual engagement is one of the latest and noteworthy tech trends to offer great customer support. Companies increasingly leverage visual engagement tools — video, co-browsing, screen sharing, and annotations — to cut through the customer conversation clutter, to be better understood, and to connect emotionally.AI and advanced machine learningArtificial intelligence and machine learning became big buzzwords in 2016. AI continues to be at the front of the conference, tech discussions, and development. Research firm Markets and markets reports, the AI market will grow to a $190 billion industry by 2025. There will be major and advanced AI innovations that could change how businesses interact and communicate with customers.Machine learning is one of the most exciting emerging technologies. With the help of machine learning, computer devices analyze the repeated patterns and process it. It works on particular algorithms codes which start running when you search for certain content and, as a result, you come across the suggestions of similar content on your social media platforms.Internet of Things (IoT)The Internet of things is another best innovation of new technology. IoT (Internet of things) help companies to convert any object into a digital device. IoT is where everyday items get chips or sensors, and apps, and join the internet The idea behind this is helping companies to know how customers are using and interacting with their product. By tracking these digital devices, companies can garner data which can be used to cater to customer demands in a much better way.Virtual RealityWhile AI will infuse everything, from cloud services to IOT, there's one area that will really develop and grow intelligent in 2019: virtual assistants.While Siri, Cortana, and Google Now are not exactly new, such services are being sewed into more areas.For example, Apple finally opened Siri up to third-party developers in 2016, so you can now tell Siri to send a payment to someone via Venmo. You can use Cortana (via Windows 10) with many Microsoft Office apps, too.The Global Intelligent Virtual Assistant (IVA) market size is expected to reach USD 12.28 billion by 2024, according to Grand View Research.Wrap upImplement these latest tech trends of 2019 in your business to significantly improve your customer service and to take your business to the next level.
What should schools teach the next generation to thrive in the era of artificial intelligence?
Hard and soft skillsThe key to success in the future labour market is to combine hard and soft skills into a well-integrated package, tailored to your individual talents.Being able to combine skills like this is the advantage that humans have over machines. Intelligent machines can be taught procedural skills, but it will be many years before they are capable of having a well-rounded set of soft skills. A car-building robot does one thing very well, but has no idea how to interact with people.So our challenge will be to learn how to program computers to do the things we want them to do. With later generation programming languages it is quite possible for regular people to program computers. You do not need to be a hard-core techie, though there will always be work for these.What you will need if you are to interact with computers is a solid grounding in Science, Technology, Engineering and Maths (STEM) subjects. This foundation is then enhanced with a range of people skills not traditionally associated with STEM. Skills like communication, critical thinking, novel and adaptive thinking, entrepreneurship, design, social intelligence, cross-cultural competency, new media literacy, transdisciplinary, cognitive load management and virtual collaboration. This is the full package of skills for success in the future labour market. The more of these you can acquire and demonstrate, the greater your perceived value to an employer will be.What jobs will be needed?Employment specialists compile lists of what they think will be in demand, based on trends. These are some of the jobs that appear on multiple lists.The IT sector is likely to need:Information security analysts, big data analysts, artificial intelligence and robotics specialists, applications developers for mobile devices, web developers, database administrators, business intelligence analysts, gamification designers, business/systems analysts and ethicists.In other disciplines, there will be a need for:Engineers of all kinds, accountants, lawyers, financial advisers, project managers, specialist doctors, nurses, pharmacists, physical therapists, veterinarians, psychologists, health services managers, schoolteachers (K-12), market research analysts, sales reps and most trades (particularly bricklayers, carpenters, plumbers, electricians).What jobs are going?Theoretically, any job that can be described as a “process” could be done by an intelligent machine. In reality though, many such jobs will continue to be done by humans because people still prefer to be served by other people.Those that will be automated will tend to be those that can be done on-line at lower cost or for free, or those that are physically-demanding, boring, dirty, dangerous or remotely located.Agricultural workers, miners, postal service workers, librarians, sewing machine operators, switchboard operators, typists, data entry clerks and word processor typist, video store clerk, travel agent.Flexible workThe workers of the future are likely to have not one job but a flexible portfolio of part-time or casual jobs that they operate in a more fluid way.With virtual and augmented reality, jobs can be more location-independent, not tied to a city office. You can have a balance of living somewhere pleasant and affordable while working at your desired job(s). You could be living in a big city or somewhere more regional or even on a ship at sea – anywhere with broadband internet.Success is limited only by your creativity and entrepreneurship. Prosperity will come to those who find new niches in the market and create new businesses, and do so from virtually anywhere.Tomorrow’s JobsWhen The Future Laboratory teamed up with Microsoft to bring some clarity for career planners they produced Tomorrow's Jobs, a report that predicts some of the more important IT-related jobs of the future.The Future Factory used a method that all of us can use to good effect. First you look at the patterns coming forward from the past ten or twenty years, and then make predictions by projecting the same patterns into the future. This is how to be proactive about seeing where the world is heading.Virtual habitat designerVirtual reality is already gaining ground on conventional gaming. It is likely to become a major force in consumer electronics into the future. In China alone around 200 VR companies are absorbing the most talented designers, creating demand globally that have jumped 800% since 2014.VR designers will become integral members of product design teams in the creation of new VR experiences running on ever-cheaper but more powerful equipment.The designers most in demand will be those who combine the narrative skill of the game designer with the spatial awareness of the architect, urban designer and landscape architect. These are the folks who will create fascinating virtual worlds that people will not want to leave.Ethical technology advocateMuch has been written about robots replacing humans, some of it quite scary and sensational. Some process-driven jobs will certainly be automated. But what of the jobs that robots and artificial intelligence (AI) will create?The robotics engineer, AI specialist and maintenance worker will all be in demand. But we will also need people who advise on how humans and robots should act towards each other. We will also need to teach robots about our strange behaviour so they can react to us in the way that another human might.These robot ethicists will have the important job of mediating between people and robots, advocating on behalf of the robots. Why? Because the general population may need some convincing that robots are a good thing to have around, and to counter the perception that they are dangerous. In 2016 Germany allocated €200 million to research this area with other countries set to follow suit.Digital cultural commentatorDigital communication is evolving from text-based to being visual (pictures and video). This is already happening as Pinterest and Instagram are growing faster than text-based platforms such as Facebook and Twitter.By the 2020s, visual communication is likely to be dominant, with multimedia artists, animators and illustrators being in greater demand by organisations wanting to communicate with a mass audience.Visual skills such as animation will be complemented with music, text, object-oriented programming and augmented reality.The ideal worker in this field blends advanced technology skills with the humanities. They understand human nature and know how to use the latest technology to create compelling narratives.Freelance biohackerOpen-source software platforms combined with a tremendously information-rich internet is putting the tools of science within the reach of millions who were previously unable to participate in research.This is giving rise to the citizen scientist, who is already proving that remarkable things are possible by motivated amateurs.Beyond this, we will see the growth of crowd-sourcing to find solutions to complex medical and technological challenges.For example, the open-source gene-editing tool CRISPR is being used by thousands of scientists to collaborate in search of cures for depression, schizophrenia, autism and Alzheimer’s to name just a few.By the 2020s, citizen science will have evolved into a viable career for millions of bioscience graduates with an entrepreneurial attitude.Internet of things data creativeBy 2025 there will be billions of pervasively embedded devices in everyday objects that gather data about many things, the sheer quantity of which defies imagination.We already call this Big Data but it is going to get much bigger.Internet of things data creatives are analysts with creative flair. They not only find the useful information buried in the data, they also know how to tell an engaging story with it.The job will combine the technical skill of the data scientist with the communication skills of the digital cultural commentator mentioned earlier. Their work will have a major impact in tomorrow’s hyper connected world.
How GST will impact export incentives?
The passage of the Constitution (122nd amendment) Bill, 2014, allows for the launch of the Goods and Services Tax (GST), a unified and pan-national tax structure. GST will create a common domestic market, remove distortions arising out of a multiplicity of levies and rates, and foster efficiency by minimizing the cascading effect of taxes in the manufacturing chain. GST will also have a beneficial impact on India’s economic diplomacy, including foreign trade.The GST fits nicely into the Modi government’s drive to improve ease-of-doing business in the ‘Make In India’ campaign. Manifold taxes, with differential rates in different states, created hurdles for the smooth conduct of business and added costs at every stage, frustration foreign investors. Foreign Investment decisions and the expected rate of return from projects often suffered due to these distortions, occasionally even deterring fresh investment plans. Most global value chains, with the exception of Foxconn, have avoided investing in India because of regulatory and bureaucratic tangles, especially those related to the multi-layered tax regime.The successful implementation of GST will reverse this, helping to attract new investments especially from global value chains which often aggregate inputs from different constituencies.The other immediate beneficiary will be Indian exports which have long suffered from lack of international competitiveness due to differential taxes and the energies expended on complying with the complex tax labyrinth. A 2010 report from National Council of Applied Economic Research had found that eliminating cascading taxes on exports could increase GDP growth by 0.9-1.7 per cent.For instance, a garments manufacturer and exporter has to depend on multiple suppliers of inputs – finished cloth (processed and dyed), threads, buttons, zips, sewing machines, ironing products, packaging, labels – for producing his finished good. These suppliers in turn, source raw materials from multiple sources, located in multiple locations, each party paying multiple taxes in different tax jurisdictions. At each stage, goods get delayed in transit for assessment and payment of varied levies – sales tax, octroi, excise, service tax. This fosters inefficiency and adds costs to each additional layer for the exporter. In addition, with each state legislating separate laws, meant that exporters couldn’t claim full set-off on the free-on-board price, rendering exports uncompetitive.GST will alleviate this. The Foreign Trade Policy (FTP) for 2015-20 says: “The simplification and harmonization of the indirect tax regime of the country will reduce the cost of production and lead to a seamless, integrated Indian market, thereby making Indian trade and industry more competitive.”The benefit to services exports will become clearer in the next few weeks, but right away, the travel, tourism and hospitality sector is a clear winner because of its dependence on a wide spectrum of vendors and suppliers.As the implications and impact of this simplifiying legislation starts to make itself apparent and the GST’s advantages for incoming foreign investment and out-going exports gain momentum, it will add veracity to Prime Minister Modi’s on-going economic diplomacy efforts.