Why is technology advancing

Technology stats and facts show that AI remains one of the most sought-after technological advancements pioneering technological growth around the world. Read on to find out some amazing stats on how AI and machine learning are impacting society. Google Translate is a service developed by Google to help customers translate text and websites to any desired language.

Before the introduction of AI, it would typically take more time to translate a series of words in a foreign language, as the process is done one text at a time. However, with the application of deep learning a sub-function of AI , the Google Translate service is now able to interpret a whole sentence or website at once.

Tech growth stats indicate that machine learning is currently one of the most popular and most successful sub-functions of AI. It should come as no surprise that the market is growing in value. As you can see, there has been positive growth over the years, which is likely to continue. Giant tech firms have been pouring big bucks into research and development, the reason why technology keeps advancing every day.

Examples of big names investing heavily in this sector include Facebook, Amazon, Microsoft, Google, and Apple. The pandemic led to massive job losses, leaving one in every four adults in serious financial difficulty. They had issues footing their bills. Others had to borrow loans and now have huge debts. AI statistics show that its adoption will lead to job losses to the tune of 85 million by the end of Experts predict that there will be 95 million job openings because of artificial intelligence.

By , humans and machines will strike a balance of when it comes to working. AGI mimics human intellect. Think cooking or styling hair with precision. Experts predict that there are high chances that in most work environments in , nine out of 10 companies will use AGI technology.

IT job posting between August and September was virtually nonexistent. However, experts forecasted that it was only a small hitch that would go away in the coming months.

Experts estimate that the number of connected cars in Europe, China, and the US will be about million by While that sounds impressive, we should think about the security aspect. It will be paramount for developers to come up with top-of-the-range security programs to keep cybercriminals at bay. The world is beginning to wake up to the fact that robotics and automation powered by AI could be the future of work.

However, some are more prepared than others. Those that fail to prepare may be left behind when the changes start to take effect. Emerging technologies and automation will be at the forefront of cushioning businesses from the effects of the pandemic. Data strategy is a set of informed decisions taken from a position of insight after careful study of available data on how best to move a business forward.

It is the job of AI to study the set of available data, and help to draw insights as to existing flaws and what needs to improve. AI technology is progressing , and the industry is growing pretty fast. Businesses and individuals alike love its efficiency. Logically, demand will continue to rise in the coming years. Data that has become so large and complicated for the traditional computer system to make sense of is referred to as Big Data. However, Big Data impact statistics have shown that it can become a goldmine to whoever understands its capacity.

Check out the statistics that follow to discover the impact of Big Data on technology and internet growth. Big Data can be a source of insight for those that care to put in the work, understand patterns in its data, and relate them to their various businesses. Facebook is an exemplary example of a company that is effectively utilizing both Big Data and AI to understand its audience better. Big Data is like the new gold for businesses. Coupled with AI, a good deal of information can be extracted from both structured and unstructured data.

The Fortune companies know this. The most successful entrepreneurs also know this. For this reason, technology growth statistics tell us that these companies always have a specified budget put in place for data analytics.

Big Data impact statistics reveal that for businesses that can do away with the junk of unuseful data, Big Data can provide direct and specific information about what works for such businesses and what does not. Instead, it enables them to focus all of those energy and resources on what works. According to tech growth statistics, we now produce data in trillions and quintillions daily.

This number has been on the rise over the last few years, meaning that we should expect to produce more in the next years. Revenue from big data and analytics has been on an upward rise over the last few years. According to Big Data impact statistics , the ability to extract, understand, and utilize Big Data has a direct impact on both sales and revenue.

With Big Data, businesses can better understand their customers, thereby channeling their efforts towards what works and increasing conversion rates. As enticing as the idea of Big Data analytics may seem, it still requires a lot of technical and specialized kind of skillset to make sense of the large chunk of available data. Thankfully, the best data visualization software can transform huge amounts of raw data into easy-to-digest visuals.

These can provide decision-makers with valuable insights quickly and easily. Given how rapidly technology is growing, and the millions of data being generated daily, top company executives are beginning to realize the usefulness of Big Data.

Some even argue that failure to invest in Big Data for any business is like walking your way towards bankruptcy. Internet traffic growth statistics tell that over the last decade, mobile usage has been on the rise, even surpassing desktop web traffic for the very first time in late Almost anything can now be achieved on mobile. Check out some of these mobile tech statistics to discover how vital technological advancements on mobile have become. As of , cell phone browsing has surpassed that of other internet-connected devices.

According to internet traffic growth statistics, more than half the world population was actively browsing the internet as of That translates to around four billion people. It is indeed a global village with billions of people who might have otherwise never met connecting. Call it an addiction! The fact remains that mobile phones have become a massive part of how most of us function daily. We check our phones almost all the time for messages, notifications, time, etc. Well, there are people with dual SIM cards.

Then there are those with more than one device, not forgetting integrated devices like security systems or cars. This could be either to read up reviews of a particular product that they are about to purchase or to locate an alternative store where they can compare products and prices.

Either way, this goes to show the impact of technology on how we live our daily lives. You may also like. Why Content Marketing Works November 29, How to Understand Visual Media February 27, Six Ways to Cut to the Core of March 6, April 17, Even Social Security is tied to employment. People who have not worked are not eligible for retirement benefits so we need to figure out ways to take care of those people in the newly emerging economy. We should consider the establishment of activity accounts for lifetime learning and job retraining.

In an era of fast technology innovation and job displacement, there needs to be a means for people to gain new skills throughout their adulthood. This account could be augmented by contributions from the person him or herself as well as the government. Similar to a retirement account, money in the fund could be invested tax-free in investment options including cash reserves, stocks, and bonds.

The owner of the account could draw on it to finance lifetime learning and job retraining expenses. It would be portable, meaning that if the person moved or switched jobs, the account would migrate with that individual. The goal of this account is to provide incentives for continuing education.

Under virtually any scenario, people are going to have to continue their education beyond the first twenty years of their lives. Emerging jobs are going to require different skills than what people gain in school. There will be new jobs created that may not exist today. As pointed out by Brookings Institution scholar Kemal Dervis, it will be crucial as technology innovation continues in the future to provide people with a means to upgrade their skills and knowledge levels.

With the expected increase in leisure time, adults need time and financial support for continued learning. We should not envision education merely as a time for young people to learn new skills or pursue areas of interest. Education is an enrichment activity and we need to view it as a general benefit for the individual as well as the society as a whole. The trends cited in this analysis suggest that we need to consider income supplements or benefit eligibility through vehicles other than full-time jobs.

The workforce ramifications of emerging technologies mean that many people in the future may not be able to provide for their families through regular employment. One possibility comes through volunteer activities. Even if people have limited employment options, many participate in a wide range of public-minded organizations.

They help other people, train the next generation, or provide assistance for the less fortunate in society. A variety of survey evidence demonstrates that young people are particularly interested in volunteerism. In general, they have different attitudes toward work and leisure time, and many say they want time to pursue outside activities. A number of them value volunteer activities outside of their work experience.

They have varied interests and want extra-curricular activities that fulfill them. This may involve tutoring in after-school programs, helping English as a Second Language pupils, stopping domestic violence, protecting the environment, or encouraging entrepreneurship. In a digital world where there may be less work and more leisure time, it makes sense to think about incentives and work credits for volunteerism. This could include credits toward social benefits or public rewards that acknowledge community contributions.

In the United Kingdom, for example, volunteers get reimbursed for expenses or earn credits for job training programs through participation in worthy causes. Going forward, the United States should consider those types of incentives.

In the future, people are likely to have more time outside of employment so it makes sense to encourage them toward community engagement and give them incentives to volunteer for nonprofit organizations or charitable causes. This will benefit the overall community and give people purposeful activities in which to engage. People will use their leisure time to pursue interests in arts and culture, or special areas that they follow.

This could include reading, poetry, music, or woodworking. Depending on their background, they could have more time for family and friends. A study of family time found that macroeconomic conditions affect how much time people spend together. To summarize, advanced societies are at a major turning point in terms of how we think about work, leisure, and social benefit delivery.

If these economies need fewer workers to complete needed tasks and benefits are delivered mainly through full-time jobs, there is a danger that many people will have difficulties getting health care, pensions, and the income maintenance they need to sustain their lives. This is of particular concern at a time of large income inequality and highly skewed economic distributions. The contrast between the age of scarcity in which we have lived and the upcoming age of abundance through new technologies means that we need to pay attention to the social contract.

We need to rewrite it in keeping with the dramatic shifts in employment and leisure time that are taking place.

People have to understand we are witnessing a fundamental interruption of the current cycle where people are paid for their work and spend their money on goods and services. When a considerable portion of human labor is no longer necessary to run the economy, we have to rethink income generation, employment, and public policy. Our emerging economic system means we will not need all the workers that we have. New technologies will make these individuals obsolete and unemployable.

In this situation, it is important to address the policy and leisure time issues raised by persistent unemployment or underemployment. There is a danger of disruptions and unrest from large groups of people who are not working. That creates poverty and social dissatisfaction and runs the risk of instability for the society as a whole. Stability cannot be enforced through a police presence or having wealthy individuals live in gated communities.

There needs to be ways for people to live fulfilling lives even if society needs relatively few workers. We need to think about ways to address these issues before we have a permanent underclass of unemployed individuals. This includes a series of next steps for society. There needs to be continuous learning avenues, opportunities for arts and culture, and mechanisms to supplement incomes and benefits other than through full-time jobs. Policies that encourage volunteerism and reward those who contribute to worthy causes make sense from the standpoint of society as a whole.

Adoption of these steps will help people adapt to the new economic realities. I wish to thank Hillary Schaub for outstanding research assistance on this project. So what skills should professionals develop to maintain an impact in this cyber-driven world? We cannot ignore or slow down the advancement of technology. As individuals fully immersed in a digital world, we need to accept that our professional roles will inevitably change in the future. Therefore we must adapt ourselves accordingly.

But how exactly? By developing the perceptive and cognitive skills that neither machines nor software can emulate, such as logic, creativity and common sense. Also, as great as technology may be, it will never be able to socialize quite like we do. Sound communication skills will certainly never go amiss in the workplace. We will need to develop, at the very least basic but ideally advanced, ICT skills to efficiently manage digital technology. This needs to change ASAP.

We cannot sugarcoat the situation — those who refuse to develop the necessary digital skills may lose their jobs in the future. Start your technology training today and ensure your digital awareness.