Technology Creating a New Dimension in Industries

Technology Creating a New Dimension in Industries

Healthcare

Healthcare is one of the oldest and most vital industry to be a part of the human lives. The technological industry has infiltrated our lives at every possible turn. Needless to say, a combination of these two industries has facilitated progress at a staggering rate and saved millions of lives which might not have been possible without it.

Due to the new developments in this sector, doctors and physicians are now able to detect and diagnose even the most complex diseases at more cellular level. Even the patients are becoming less dependent on their doctors and more capable due to the technological developments.

Healthcare-Technology

Artificial Pancreas for Diabetics, Intelligent Pills Delivering Medication to Specific Locations, Invisalign, Nanobots in Blood are few but most recent and powerful innovations that are making the Medical treatment much easier and faster.

Jeffrey Bauer, Ph.D., an independent Health Futurist and Medical Economist, says, “We have the opportunity to create phenomenally better healthcare systems in terms of delivery, outcomes, and reducing costs.”

According to the American Telemedicine Association, more than half of the hospitals in the United States use some form of telemedicine. Close to 1 million Americans use remote cardiac monitors and millions of patients worldwide use telemedicine to monitor their vital signs and reduce the need for hospital visits.

Mobile health or mHealth is freeing healthcare devices of wires and cords and enabling physicians and patients alike to check on healthcare processes on-the-go. An R&R Market Research report estimates the global mHealth market will reach USD 20.7 billion by 2019, indicating it is only becoming bigger and more prevalent.

Agriculture

The New Vision for Agriculture, defined by World Economic Forum partners in 2009, holds that to meet the world’s needs sustainably, agriculture must simultaneously deliver food security, environmental sustainability and economic opportunity. AgTech is a way to reach that goal. Technology may be able to deliver solutions where conventional breeding approaches have failed; it could greatly assist the development of crop varieties able to thrive in the difficult environments where many of the world’s poor live and farm.

Through the use of technology, each farmer is able to feed 155 people today, compared to 1940, when one farmer could feed only 19 people (Prax, 2010).

With precision agriculture, control centers collect and process data in real time to help farmers make the best decisions with regard to planting, fertilizing and harvesting crops.

Agriculture-Technology

Modern biotechnology has the potential to speed up the development and deployment of improved crops and animals. Technology has turned farming into a real business, now farmers have electrified every process, a consumer can place an order directly online, and the product will be transported from the farm to the consumer in time when it’s still fresh. This proves cost efficient to the farmer money and it cuts out mediators who tend to buy low from farmers and sell high to end consumers.

Solar Energy

One of the recent technology trends making waves on the globe right now is the significant use of solar energy systems to generate clean, non-polluting electricity and to also curb other issues that directly affect the environment. Solar technology will play a decisive role in reaching that goal.

The conventional crystalline silicon solar cells present in the majority of solar panels in the world and organic thin-film solar cells are possible only due to solar technology.

Recently, a group of scientists at the University of Toronto unveiled a new type of light-sensitive nanoparticle called colloidal quantum dots, that many believe will offer a less expensive and more flexible material for solar cells. Panels using this new technology were found to be up to 8% more efficient at converting sunlight.

Just recently, Scientists at the University of Maryland were able to develop transparent and stronger wood. Apart from many other interior and household uses, it can also be used in making advanced solar panels. It would help solar cells trap light; light could easily enter through the transparent function, but the high haze would keep the light bouncing around near where it would be absorbed by the solar panel.

Travel, Tourism & Hospitality

One of the largest impacts on the travel agency has been the rise of online booking. Customers looking to book a trip no longer need to visit an agency – they can go online to companies and book an entire trip themselves.

travel technology

“Digitalisation has given us choice in a big way,” says Tamara Lohan, Co-Founder and Chief Technology Officer at boutique hotels website Mr. & Mrs. Smith. “More people are travelling than ever before, and companies like Airbnb encourage younger people to explore sooner, and in a more cost-effective way. Technology has also given us more information on the place we are going than ever before. Want to know if there is an artisan chocolatier close to your hotel in Amsterdam? Well, now you can – in seconds.”

Other travel companies like MakeMyTrip, Yatra, Cleartrip etc, provide the customers with the power of planning and booking their own trip, from tickets to accommodation, at their fingertips, even at the most remote places.

Digital travel sales worldwide from 2014 to 2019 (in billion U.S. dollars)
Digital travel sales worldwide from 2014 to 2019 (in billion U.S. dollars)

“Digital technology has changed the way we connect with guests, creating a 24/7 relationship in and out of stay,” says Stephan Croix, Vice-President of Marketing at Starwood Hotels & Resorts, owner of hotel chains W. Hotels and Alof.

Food Tech

Food remains another industry that was touched by the modern technology and changed many aspects of the industry – from what we eat to where we eat.

Social networking sites have played a huge role in shaping the views of society on a countless issues, and they are also playing a role in shaping people’s opinions of dining establishments. With Foursquare and Yelp, customers can leave their thoughts on a restaurant – good or bad – when they check-in.GoBizReview-com-Helps-Restaurants-Increase-Online-Reputation-and-Social-Media-SEO-Marketing

According to a recent article in the USA Today, restaurants in San Francisco, Atlanta, Boston, Chicago, and in other parts of the United States are starting to allow patrons to use iPads to place their orders.

If you take a look at the figures globally, Domino’s Pizza saw an increase of close to 750% (Forbes). The key reason for this growth hasn’t been the quality and taste of the pizzas alone, it’s been a cutting edge digital and technology strategy. The digital systems are so strong that it becomes easier for consumers to place, track, pay, and pick their orders. Domino’s currently is working on a project of creating a food consumption ecosystem, which makes it easier for people to order and get pizza delivered even at railway stations.

Investment in food startups, which mainly include food ordering apps, has increased by 93% to USD 130.3 million, comprising 17 deals till September 2015, as against only five deals in 2014.

Food tech

Recent innovations:

  • Mobile (Online / App) Ordering
  • Quick home delivery options
  • Online coupons
  • Choose or make your own order (Eg. Pizza selection and toppings)
  • Food eCommerce websites

Technological advancements boom throughout history and have helped push civilization forward —sometimes faster, sometimes slower — to greater wealth and better health. And will continue to do so.

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