As 2021 draws to a close, a pulse check on cutting-edge computing solutions for businesses is essential. While some solutions have been growing and maturing over the last few years and are only beginning to impact businesses, others have seen their adoption and use cases explode as a direct impact of COVID 19 and other factors.
Cutting Edge Computing
As technology advances, each of these solutions will offer more value and improved processes for companies in any industry. Many will work intertwined with one another, creating customizable hybrid solutions.
Here is a quick look at some of the essential cutting-edge solutions for businesses.
1. Artificial Intelligence and Machine Learning – Expected to grow to $190 billion by 2025, Artificial Intelligence (AI) is poised to revolutionize business processes. AI can be deployed in navigational apps and used for advanced speech recognition. It is also powerful in manufacturing where it can analyze data, provide trends, and uncover insights undetectable by human analysis. Paired with advanced Machine Learning (ML) algorithms where machinery learns to change, adapt, and deploy real-time solutions, AI is leading the way to creating smart cities and smart factories.
2. Robotic Process Automation – When people think of smart factories, they often think of robots producing big-ticket items like automobiles. But robotic process automation is more than just cool robots. It encompasses all types of automation that can be performed faster, with higher quality, and higher efficiency than human operators. It may be something as simple as an actuator triggering a critical point in production. It can also mean that a machine makes autonomous or semi-autonomous actions when problems are detected.
3. Edge Computing – The proliferation of advanced analytics in manufacturing, oil and gas, and urban planning has created a strain on bandwidth and higher than desired latency for responses in an automated system. Edge computing decentralizes the cloud-based paradigm and allows data processing to take place at the “edge” where the machine or equipment is operating. This process enables data to be cleaned, organized and checked for redundancies or missing information before going to the cloud. As a result, the cloud-based analytics engines can be used for analysis and core functions, reducing latency and bandwidth.
4. Virtual and Augmented Reality – Many people have heard of Virtual Reality (VR). Beyond the gaming aspects, this technology continues to improve. VR can be used for advanced training and simulations. For smart factories and smart cities, Augmented Reality (AR) is an up-and-coming tool for business. Using goggles to capture the field of vision, a field tech or a machine operator can maintain contact with experienced staff who can draw, type, or point to parts and tasks directly within the user’s field of vision. It can even help facilitate remote training in a world where COVID-19 made such training necessary. This feature can reduce repair time, limit the training curve, and enable experienced staff to have more capacity within the same hours. AR is also an excellent safety tool in smart factories, as the user can be directly guided to the safest task by the person with whom they are communicating.
5. 5G – IoT technology is rapidly changing workplaces, especially in manufacturing and far-flung industries such as oil and gas. 5G promises to lift the current 4G standard of data transmission from 100 Mbps to 20 Gbps over a cellular infrastructure. This results in increased device response and reduced latency. Similarly, expensive infrastructure for wire, cabling and other hardware can be bypassed, resulting in a faster and more cost-effective technology.
Taking Advantage of Cutting-Edge Computing Solutions
At the Henry Bernick Entrepreneurship Centre (HBEC) at Georgian College, we understand that tomorrow’s entrepreneurs will want and need access to the most advanced technology. Our programs for business innovation, R&D, entrepreneurship, and mentorship incorporate that understanding into what we offer. With access to faculty, staff, and student project groups, we can help you choose the best technology path to help get your business off the ground. We also offer additional value-added services you may have not yet considered. Contact us today to find out how we can help.