It is high time for companies to explore advanced digital trends as new research suggested, on Tuesday, that not embracing technologies like Blockchain, artificial intelligence, robotics, machine learning and virtual and augmented reality can lead to the companies being disrupted.
Global IT solutions and services provider Dimension Data stated that these technologies can lead to disruptive results, thereby reshaping the entire digital business in 2018. The coming year is considered very significant for companies as they adopt Blockchain, the software behind digital currency Bitcoin, to harness its immense potential in the sector of business, money, and society.
"In the financial services sector, we've seen the US and European capital markets moving onto Blockchain platforms and similar activity in markets such as Japan. Considering how conservative and compliance-focused this sector is, that's quite remarkable," Dimension Data's Group Chief Technology Officer Ettienne Reinecke told IANS.
"I believe that Blockchain has the potential to totally re-engineer cybersecurity, but the industry has yet to come to terms with it," he added.
Reinecke also stated that Blockchain will bring about the Internet of Things (IoT) in 2018, leading to new applications being created in the area of cybersecurity.
Advanced wireless technologies will also be developed to assist IoT, taking mankind a step forward in the field of pervasive connectivity. "Some of these advancements will include 5G and Gbps Wi-Fi, new controls, virtual beacon technology, and low power, long distance radio frequency," said Reinecke.
Head of Solutions at Dimension Data India, K. N. Murali, said that India is also following global trends when it comes to adopting advanced technologies, including Blockchain.
"There has been an increase in the adoption of Blockchain especially within the Indian BSFI sector, and is currently being used for fund transfer, digital identity and payments infrastructure," said Murali. The "zero trust" security model, which is emerging again in 2018 and will be implemented by Blockchain, will actively verify whether users are actually entitled to access certain data sets before it lets them see it.
This will have a major positive impact on cybersecurity and data encryption technologies.
(With inputs from Indo-Asian News Service)