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CTOs may be considered as the gatekeepers of technology adoption. In this role, they are required to fight the constant bombardment of hyped technologies, to choose the ones that will likely provide long-term benefits for the company. Technology infatuation is difficult to resist, especially with the massive influx of exciting technologies over the past decade.

So, here is a list of four emerging technologies that hold the promise of transforming business landscapes. Although a great deal of advancements has already taken place in these technologies, they can still be termed as “emerging’ since their full potential is yet to be unleashed.

1.     Internet of Things (IoT) and Data Analytics 

IoT means different things to different people. To some it means smart cars and intelligent appliances. To leading CTOs, on the other hand, IoT-enabled systems represent a powerhouse of data generation. M2M (machine to machine) communication makes processes more efficient by reducing the need for human intervention. Not just that, it removes human biases from the equation and eliminates human errors.

With this, IoT offers businesses the most powerful currency for growth – Data. The estimate of IoT data generated in 2019 stands at more than 500 zettabytes (with one zettabyte being equal to one trillion gigabytes)! And, this is expected to grow exponentially. No wonder then that thought leaders like Bill Gates and Dr Judith Dayhoff say that IoT has given the inanimate world a “digital nervous system”.

The magnitude of data represents a huge opportunity as well as a major challenge for companies. This data can be used for anything, from market research to predictive analytics. It can empower businesses to find a competitive edge and target new consumers. Within a business, leaders will be able to gain comprehensive horizontal and vertical views. 

While businesses have acquired data for many years, they haven’t been able to leverage it completely. Large parts of data remain unused, which should be a concern for CTOs. Data is worthless if it cannot be presented in consumable formats.

2.     5G Connectivity

Devices communicate over the internet, which means the role of cellular technology is vital. With speeds typically around 200Mbps and up to 1Gbps, 5G promises not only to be super-fast but also to provide increased network capacities and lower latency. This means thousands of internet-enabled devices and IoT sensors can run simultaneously and smoothly.

The results could be revolutionary. Businesses could live-stream events for millions of people at one place. Manufacturing robots could be empowered to ease tasks like assembly, packaging and construction by communicating with one another. Driverless cars could become a reality. Technologies like Augmented Reality (AR) and Virtual Reality (VR) could change the way we educate students or train employees. 

5G could act as a catalyst for easy adoption and a higher number of use cases for these technologies. In India, 5G is expected to constitute 11% of mobile subscriptions by 2025, according to the 2019 Ericsson Mobility Report.

3.     Cloud Computing 

Since vast quantities of data will be generated by devices, supported by 5G, most companies will be compelled to transition to a cloud infrastructure. If data is to be the new currency, businesses need to focus on storing this valuable asset and make it accessible to people from anywhere and at any time, while also protecting it from unauthorized access. 

Doing so will dramatically lower operational costs, lead to smoother infrastructure management and offer flexibility to scale according to changing business needs. Everything from bandwidth to processing power can be scaled inside a cloud infrastructure. This will be important for businesses to manage fluctuating demand due to seasonality or economic cycles.

The security of data remains a top concern for global CTOs. The onus lies on the CTO to forge relationships with trusted partners that offer robust data protection solutions.

4.     Facial Recognition

With devices already poised to provide such tremendous benefits, technologies like Facial Recognition can be brought into workplaces to enhance security, such a system called facial recognition based visitor management system. Companies can use this technology to provide a rich employee experience. This technology has multiple benefits from Visitor Management to Employee attendance through facial recognition. Instead of card punching, facial co-ordinates can become the source of attendance rolls, helping the HR/admin to prevent abuses like ‘buddy punching’ and increase the reliability of data related to productivity, wage theft and absenteeism.