1. Artificial Intelligence

AI is being integrated into many industries such as healthcare, financial services, advertising, manufacturing and many more. Artificial Intelligence is used in a string of operations like streamlining workflow, increasing automation, improvement in customer support management and optimizing logistics. In the banking sector demand for AI has increased threefold over the last few years. Millennial students are quite accustomed to devices like laptops, smartphones and tablets. A combination of these modern devices, Artificial Intelligence and integrated data analytics has made learning procedures much more interesting gained popularity among next-gen students.

2. Drones

These days, drones are used in industries more than ever. Hospitals use drones to deliver supplies on different floors. In remote geographical locations, drones supply medical utilities. In the agricultural industry, farmers monitor farm operations by drones. They can also detect pest activities. In the oil and gas industry drones monitor the impact on the environment after installing various machinery. The survey of various mining operations is done by drones nowadays. Drones have a significant impact on the construction industry. They gauge topography, carry out ground surveys and monitor construction progress.

3. Image Recognition

Image recognition is helping in the advancement of various industries in many ways. The fashion industry has applications that capture images of people and give a detailed description of the kind of attire they are wearing. This will help in the creation of new designs and patterns. In the hospitality sector, hotels can recognize guests once they arrive on their premises. This will help in delivering better customer service

4. Virtual Reality (VR)

Virtual Reality has been used mainly for entertainment purposes like gaming. But gradually it has become more than a recreational tool. Real estate companies use VR technology to give their future home buyers a have a look at every detail of their future home. Some fashion retailers and cosmetic companies have VR solutions that allow customers to try their products virtually without coming down to their stores. VR is also making waves in the fitness industry. Some companies have made VR apps that make workouts entertaining and fun for some clients who don’t feel motivated to workout. These apps enable clients to enjoy rock climbing from their gym. Automobile companies create VR experiences that make it possible for clients to try out a new model from their home. Some companies deploy virtual reality interviews for hiring employees.

5.Blockchain technology

One particular technology that is improving financial services is blockchain. Almost 52 per cent of financial services companies have implemented blockchain for smooth transactions with a combination of high speed and benefits related to costs. In the healthcare industry, it also has a great impact. Privacy of health records can be ensured by digitally signed blockchain-based data which allows only authorized access. Hospitals, patients, doctors and insurance companies form a blockchain that can reduce fraud in payments related to healthcare.

6. IoT

Iot devices are making it possible to do high-tech farming. Smart sensors and agricultural drones aid in monitoring every animal and plant and assign a customized feeding and medical routine. In the real estate industry, IoT helps to grow margins for developers and enabling more efficient building operations. It helps in the reduction of costs and as well as improves physical security. IoT is also improving financial services. Smart cashpoints which are connected with vending machines allow customers to transfer money, accept a deposit, and take out a loan and many other applications.