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5 latest Technologies that will rule the future 2022


Not long ago, the idea of 3G or 4G sounded witty, and even the implementation of electric cars seemed unthinkable. But, it all happened, and that too for good! The time wheel is revolutionizing continuously, and so is technology. The things tech has made possible today were not even in our wild imagination a time ago. All this happened due to human’s stubbornness to change and regularly improvise technology for advanced tomorrow. But, just like time is dynamic, technology also changes continuously. And today’s best invention can just be tomorrow’s usual when more advanced principles arise. That’s how technology never fails to amaze humans. Let’s dig in to know the 5 latest technologies that are here to stay!

Every day, a new application or principle arises, opening a whole new dimension for making lives more automated and better. Here are some of the technological breakthroughs that seem pragmatic for the advanced future we all aspire to- 


  1. Data Science


If we say That Science is the next big thing of the 21st century, it will not be an exaggeration. Its application in some of the most complicated and thriving sectors makes it a technology worth advancing and exploring. 


For years, Interpreting, monitoring, and leveraging data has been a core process for enterprises, research, logistics and whatnot! Data science provides an ability to manage, comprehend, interpret and implement this complicated data and uncovers the core understanding of data for various processes.


A precise and efficient data science algorithm can assist in A to Z of data operations. This further makes research surveys, medical findings, and IoT possible. Data analysis and interpretation in these domains and e-commerce retail can unleash new dimensions to reach and understand the target customers. The applications of data science in getting deep insights into climate patterns, understanding migration strategies of wildlife, etc., are also emerging. 


Artificial intelligence and machine learning can do wonders and provide humans with insights they never knew existed. Therefore, the tech giants like Netflix and Amazon are inclined toward investing in Data analytics. 


“ The core advantage of data is that it tells you something you didn’t know before.”

                                                                           ~Hilary Mason (Data scientist and founder of Fast forward labs)


  1. Robotics


If there is something that is most fascinating about tomorrow is “Automation” and what could be the best example of automation than Robotics 


The idea of robotics lies solely in the aim of mitigating human intervention in any process and achieving automation through robots with a perfect and precise combination of hardware and software coordination. 


An AI-driven algorithm and perfectly placed mechanical parts make a perfect robot!


The applications of robots in warehouses, medical surgeries, and logistics are highly leveraged. Not only this, but the ideas of implementing robotics in security systems, mechanics, and other processes are also emerging. 


  1. Blockchain


When everything is going digital, how can currency step back?


Since the digital currency or cryptocurrency has been in the news, blockchain is also getting the limelight and some genuine investors. The way people have been inclining toward blockchain to invest and extract some extra benefits is probably one of the future technologies. 


If the reports are believed, the blockchain market will get $11.7 billion worldwide by 2022. Besides this, the other associated amenities of blockchain, such as security, advanced gateways, unique implementation, and engagement, make it worth talking about. The bank’s infrastructure costs are estimated to get reduced by around 30%. 


If you are someone interested in investing and getting good returns, digging deep into blockchain would be the perfect plan for you! 


  1. AR & VR


Augmented Reality or Virtual reality is another emerging technology for the future. The way it enhances the user experience and brings different “reality” alive, it has immense unlocked chambers to unlock. 


Application: Gaming, IoT, and security systems is explored and leveraged.


  1. Edge computation


A new emerging technology, Edge computing, provides solutions to some hard-to-deal issues. Edge computing stores data near the source so it can easily access even with weak networks. 

Its implementation in IoT devices has made them fast and more reliable. But, the technology is still under experimentation and implementation processes. 


Technology is a Surprise


Technology is a complete surprise and has dimensions no one can even think or dream of. It can provide humans with the powers we always desire. Apart from these 5 latest technologies we discussed, there are many more on the cusp of becoming! Only time will unfold the wonders to us.


And its dynamic nature is not a result of today. Can you think of a time when there were no computers? We have come along a path that even flying automobiles seem doable today. The unthinkable technology of today will always be usual tomorrow and new technologies principles will keep on arising. 



Data Science: a blessing for today’s banking world

Standing in long bank queues is a thing of the past. Today, banks are no farther than a click on our mobiles or laptops. With the advent of digitalization, everything transited to the online world. To serve customers where they reside, Banks also moved to online platforms.

Traditional banking believed to have lesser risks, today, seems inappropriate due to obvious reasons. Therefore, banks try to develop secure systems online to serve customers with their banking solutions in minimal effort.

But, as Banks involve the motion of money, there lies a great great deal of risk by transiting to online banking platforms. Cybercrimes, frauds becoming prevalent in recent times further elevates the risk and scrutiny associated with modernized banking.

But, technology is always here to help. Data Science, a newly emerging field can assist the banking and insurance sector in some magical ways providing reliability, security, trust, and whatnot!

What is Data Science?

Data science is an interdisciplinary arena playing around data. It uses some stable scientific methods, algorithms, processes, and operations to extract and analyze knowledge and critical information from loads and loads of data. This can also assist in applying extracted data to a broad range of applications. Data science can not only extract data but also highlight some crucial points and connections in data that otherwise are impossible to spot.

As banking involves complicated data collections, incorporating data science can provide a stable and convenient way for operability of today’s banking systems.

Here is a list of five amenities provided by data science to today’s modernized banking-

  1. Customer Data Management

The finance industry relies on data. The massive amount of data about customers from different demographics, transactions, account holders, any unprotected activity or protected activity carried on online platforms, external payment gateways provides some insightful analytics about customers.

The data from millions and millions of customers can play a pivotal role in banking management and can serve as a repository of customers. As banking solely relies on the foundation of the security of customer data, Data science can aid in maintaining and handling large customer data.

Data scientists leveraging data science can process and manage hefty customer data with the aid of specific data science algorithms and operations. This fuels the decision-making ability of the banking system and ultimately elevates profits for banks. Data science can also aid in the management of both structured and unstructured data.

2. Personalized services

A customer always likes to be entertained as an individual. That’s where personalized services make an impression. This can be done by serving them with specific insurance policies, loan reimbursements, discounts etc. But, banks having millions of customers feel cumbersome to execute these personalized services.

Data Science saves the hassle. It is an authentic solution for such problems. With the aid of specifically designed algorithms, data science can enable banks to send customers personalized alerts, offers, facilities, and much more. This has visibly extended the banking sector’s ability to provide customized services and to establish trust among customers.

3. Risk analysis and management

The banking sector is prone to anomalies and risks. But, these risks if managed optimally can be controlled and curbed. The insurance sector; one of the main sectors of banking often gets losses due to loopholes in the system. Thanks to technology, Data science can now assist in mitigating these downfalls.

It can, by the aid of previously collected data, identify the glitches in the system. This enables banks in designing risk-free models of insurance policies and also determining the credit score or worth of their clients. The development of specific data science algorithms can also provide deep insight into the demographic markets thereby helping insurance companies to target specific locations and predicting profit-loss ratios.

4. Real-time analysis

No matter what industry one may consider, real-time analysis always helps. Traditional banking collecting data in real-time always felt limiting when it came to comparing and contrasting the real-time data for immediate implementation of solutions, changes, and amendments.

Modernized banking, however, can conquer these glitches with the aid of Data Science. Data Science integration in the banking world provides real-time analytics that keeps banks updated all the time. It further elevates the data and online portal’s security. It also enhances banking official’s ability to solve customer’s issues right at the moment.

This gains more importance in online payment gateways and transactions. In these systems, real-time analysis saves from massive frauds.

5. Fraud Detection

This is practically one of the most important applications of Data Science in the banking and insurance industry. Curbing and controlling banking frauds at first hand establishes customer’s trust and subsides any possible banking malfunctions.

To prevent fraud, Data science can efficiently identify kinks in the banking systems. This is generally established by creating layers and two-factor authentication on baking systems, strong IPs, detecting servers, etc.

Data Science: a present and future of banking

So far, many banking platforms have leveraged data science for serving customers better. It is also hypothesized that in the coming future, there would be no physical banks and modernized banking would take over traditional banking completely.

In such a possibility, Data Science can be the savior. By end-to-end managing and keeping an eye on crucial data, frauds, risks, and services, Data Science can hold the banking sector at a place. If modernized banking has a future, the fountain would stand on Data science.

Aarsh, Co-Founder & COO, Gravitas AI

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