THE STATE OF TECHNOLOGY
Data Privacy
Technology in 2021 will be defined by one message: "We have updated our privacy policy." After GDPR's enactment in May 2018, every single organization in the world that collects any sort of data was impacted. Simultaneously, we are seeing sustained growth in Cloud Computing, Urban Mobility, VR/AR, AI/ML, and IoT, while the more established fields of smartphones and blockchain are seeing a cooldown.
Opt-in
Users must explicitly allow companies to collect data, which must be encrypted, up-to-date, and accurate.
Right to be forgotten
Users must be able to access all of their data and be able to delete all of it.
Severe Penalties
The penalties for compliance failure are high and proportional to revenue. Organizations are devoting large amounts of resources towards GDPR compliance.
INDUSTRY REPORTS
Edge computing
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Productivity Technology
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Digitization in Healthcare
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INDUSTRY REPORTS
SELECT CLIENT SECTORS
Cloud Computing
The Cloud Computing market is expected to reach $760 Billion by 2027, almost four times its value of $200 Billion in 2020. The biggest rise in revenue is attributed to public cloud services, where SaaS (Software as a Service) makes up 50% of the market, followed by IaaS (Infrastructure as a Service) with 32% and PaaS(Platform as a Service) with 18%. The largest players within these segments are AWS, followed by Microsoft’s Azure and Google Cloud Platform, however their respective YOY growths are less than half of AliBaba, which has seen a 92% growth in their cloud computing segment. There is an increased preference for omni cloud computing over multi-cloud systems due to its improved security, real-time updates, utmost scalability and ease of use.
Blockchain
Blockchain, launched officially just over a decade ago, is a new technology that aims to record transactions efficiently and permanently. In our rapidly changing digital world, records and transactions have lagged in both management and protection. Blockchain could allow our contracts to be embedded in code and stored transparently, and secure against deletion and revision. Widespread usage would mean that every exchange would be digitally stored and easily accessible, and the transactional work of lawyers, bankers, brokers, and more would be rendered unnecessary. This technology could revolutionize business models and redefine the flow of our economy.
Artificial Intelligence
and Machine Learning
The accessibility to key techniques in AI and ML have dramatically increased in recent years, leading it to become a field of interest for developers ranging from young students to top professionals and academics. Deep learning frameworks such as Keras and TensorFlow as well as cloud computing and related services (Azure, Google Cloud, AWS, etc.) have allowed developers to create neural networks and general statistical formulations for large-scale data analysis with little barrier to entry. The consequent explosion in the implementation of these models, especially as they have relatively little overhead, has paved the way for AI/ML to enter as an application to virtually every scientific field.
Urban Mobility
As technology increasingly serves to streamline and simplify consumers’ everyday lives, urban mobility has evolved to seamlessly integrate technological innovation with the urban mobility scene. Uber and Lyft have streamlined ride-sharing and ride-hailing services, and microbility startups have introduced services such as dockless bike- and scooter-sharing, all leveraging the ubiquity of mobile applications and the ease of online payment. Companies such as Tesla have popularized and experimented with electric vehicles and self-driving cars, inspiring the technology sector to reimagine the role of sustainability and rider experience through busy city streets.
