I came across this interesting article in the HBR The Tech Trends You Can’t Ignore in 2015 which lists some of the major tech trends that have the potential to be the next big thing(s) in 2015. From the realms of machine learning to Uber like substitutes for everyday life problems, the article presents a melange of the innovations that are likely to leave a lasting impact on the ever changing tech landscape! So here goes the list:
1. Deep learning: The new cool kid in the block that represents the future of machine learning algorithms used for solving a gamut of problems from predictive analytics to drawing informativeness from missing data. Fundamentally, deep learning relies on the assumption that the observed data is generated by interactions across different types of data and uses the neural network approach to achieve high levels of learning from lower levels using the large multi layered dimensionality in the data.
This could instrumental in bringing a major change in the way we understand the financial data if it is able to replicate its success in the areas like computer vision and speech.
2. Smart Visual Personal Assistants (SVPAs): Can be as simple as an app that monitors conversation between two parties and suggest possible solutions to problems discussed. The technology relies mostly on Natural Language Processing and combines it with intensive data mining techniques to solve problems.
3. Uber like substitutes: Uber cashed in on a daily life problem and monetized it to a $40 Billion company. 2015 will possibly provide more such solutions to everyday needs such last on demand grocery and personal services.
This could present an exciting opportunity to have a very granular view of the consumer behaviour thanks to the large amount of structured personalized data generated through these apps.
4. Oversight for Algorithms and Data Privacy: This represents the counterpart for using machine learning techniques for solving problems. Drawing on the loopholes and overcoming the shortcomings of an automated decision making process. Definitely the top priority for financial services providers and retailers with thousands of terabytes of customer information.
5. Block Chain Technology: One possible solution to the issues around data privacy and oversight could lie in using the Block Chain Technology used in Bitcoins to encrypt sensitive information. Block chain can be thought of as a sort of distributed consensus system, where no one person controls all the data. This is very interesting especially as it present a new regulatory challenge for every application it will have (as we have already seen how Bitcoin has given regulators quite a few sleepless nights).
So what according to you will be the tech game changers in 2015?