The new year of 2017 has brought ample amount of both reflection and expectation with it. The technologies and tools have pushed the envelope of possibilities in a significant manner. As we have entered into the new year, the technology buzzwords like Cloud Computing, Big Data, IoT, Machine Learning and Analytics have entrenched themselves into the domains of our daily life and innovation equally. With no uncertain term, we can assert that transformations in the processes of industrial productions, global supply chains, governance and civic amenities implementation in the coming months and years.
As espoused by technology evangelists, the unhindered (by human) interactions between machines in the manufacturing processes have brought a new era of industrialisation. Famously, we call this as Industry 4.0. Similar is the farming sector where the use of IoT devices and tools governed in a distributed ecosystem streamlines the farm production without strong cohesive effort of farmhands on the field. This is no longer in a realm of speculation; things are changing on the ground rather quickly. 2017 will see the changes without fail. In fact, the global supply chains that drive manufacturing, distribution and retail with information technology as its enabler, have started accepting the technical remoulding without inhibition.
In a different note, there will be different verticals that will be slow to adopt the changes due to lack of adequate tangible tools and methods to integrate new technologies into their fold quickly. These are FinTech, Health, Alternate Energy and Waste Management. These verticals are quite sensitive to these new technologies, and will bring great transformations with adoption. However, hurdles of right public policy support, cybersecurity concerns and lack of skilled people will slow down the transition in the next few months.
As I have already indicated above, the challenges of security will dominate the technology landscape in the coming months. The tools and startups delivering successful products in this area will find great acceptance. Otherwise, the startup ecosystem will see many challenges due to reduced opportunities to access open market. Startups will see significant competition from established players with their ability of aggregating products from smaller players to boost their supply chains. This will push new players to stick to bigger companies and their supply chains to sustain and grow. Of course, a favourable public policy may help to break this jinx.