Buzzwords for tech in 2017: Serverless Computing, IoT, Blockchain, Big Data and AI

The speed with which technology is moving is hard to keep up with. Everyday we encounter a new invention or an incredible update. Amidst all this we do come across certain key phrases that are either new or unknown. We have decided to bring forward all such keywords that were buzzing in the technosphere in 2016 and might continue to rule 2017 as well.

Serverless Computing

So, after SaaS (Software as a service), 2016 was all about the new devlopment in cloud computing, that began when physical servers largely were replaced with virtual technology or software- serverless computing. Which may also be refered to as Function as a Service (FaaS).

FaaS allows its users to develop, run, and manage application functionalities without taking the pain of orchestrating and overseeing the backend infrastructure. Serverless computing is highly cost-effectvie for computing resources, than renting or purchasing a fixed quantity of servers.

So, according to us, 2017 is going to be all about specilised services and efficient implementation. Hence FaaS, will provide a better experience and also has an attractive pricing structure. Who would not want to run almost every type of application or function, with zero infrastructure administration on the IT professionals? Isn't this a dream come true?

IoT

Yes, IoT is not going anywhere even this year. Right from your Google homes to Snapchat glasses, IoT is here to stay. To all those who are still wondering what exactly is IoT. Here's a basic definition, the Internet of Things is a network of physical objects with internet connectivity that communicate with each other and internet-enabled computers and systems.

So, everything from smartwatches to automated cars, Google Homes and Amazon Echo are befitting examples of what all areas does the term IoT cover. As per a rough estimate there are around 6.4 and 17.6 billion IoT-connected devices in the world today. By 2020 there will be 20–30 billion such devices. We told you, IoT is here to stay. Gartner study  predicts that by 2022, IoT will save consumers and businesses $1 trillion a year in maintenance, services and consumables.

In the space of IoT, Greenfield is being embraced by so many IoT adopters because its development is conceptually easier than brownfield. On the other hand, “Brownfield” development enhances traditional software engineering practices. However, Greenfield is considered the traditional target environment during software development.

Brownfield aims to extend the traditional software development plan to add context. Hence there's a greater potential and challenge that lies in brownfield development. Especially because it calls for the integration of connectivity and data collection into things and designs that already exist. Hence, the new developments in IoT 2017 will be Brownfield  replacing Greenfield. 

Blockchain

While in India we are still busy with e-wallets and cashless transactions, the real push to the cashless move might come with this technology. Blockchain is disrupting the financial industry with its database model developed to provide independent transaction verification for users of bitcoin and other cryptocurrencies.

Blockchain is predominantly used for currency, it can be used for anything of value: documentation (including legal documents), art or music, votes, and much more. If we sum it up, Blockchain applications can help us go cashless for real, reduce transaction costs, and accelerate business processes. While blockchain development is still at a basic stage, its relavance will continue to grow.

AR

Augmented reality is going to be big even in the coming years. Pokemon Go and its huge success is perfect example of how the untapped power of AR was used in 2016. AR is subtle as compared to VR as the latter is less immersive. AR lets you seamlessly visualize products in real life environments.

In the near future we will continue to see AR in speech translation apps, on-site interior design planners, Snapchat glasses, Cars and even more games like Pokemon Go. Gartner analysts feel by 2020, 100 million consumers will shop in augmented reality.

Big Data

The word has been buzzing for a while now. Big data has been changing the way people are now making decisions for their marketing plans or new launches. Big data lets you come up with innovative data virtualization and graph databases. Proliferation of technology has vastly increased the amount of data available to businesses, and data analytics all made possible by Big Data.

However, many believe that the numerical strength of Big Data is also its biggest weakness and hence we look forward to a qualitative edge to an existing structure of Big Data. Read more about scope of Big Data in 2017.

AI

Artificial Intelligence is one of the fastest-growing areas of expertise. Right from medical sciences to smart devices AI is now developed into a full fledged field of research and ideation.

Columbia University has started a course to develope the skills in AI. They believe, the need for AI specialists exists in just about every field as companies seek to give computers the ability to think, learn, and adapt.

AI is definitely the need of the hour.

These keywords were doing the rounds of the technology space in 2016 and will continue to grow over the next year. "We are all geared up for what the future holds. At the core of future outcomes is the notion of digital disruption, which has moved from an infrequent inconvenience to a consistent stream of change that is redefining markets and entire industries," said Daryl Plummer, managing vice president, chief of research and Gartner Fellow.

Here's to new developments and more innovations in existing spaces. 2017 bring on your magic!