A Few Key Technologies In Modern Software Development

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Software development is an active sphere which is highly linked to and dependent on innovations. We are currently seeing a huge transformative effect of innovations like blockchain, machine learning, virtual and augmented reality in various niches. Even these few mentioned technologies can change the world as we know it because the potential they open is virtually limitless.

Importance Of Adopting New Technologies

Taking account of these realities, a software development company that strives to keep the pace with the current developments needs to actively adapt and become proficient in these technologies. This is even a matter of survival since we often witness how startups based on innovative ideas often become multi-billion dollar companies in just a few years, outpacing players that excelled on the market for many decades (the example of Tesla, Netflix). Three of the most important digital concepts/technologies to mention are described below.

Artificial Intelligence

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The work in this field revolves around intelligent agents that perceives the environment and acts towards maximizing the chances to achieve the set goals. The application potential is infinite given that it is relevant to any intellectual task. Some fields where it has been applied include:

  • healthcare – determining the dosage of pharmaceuticals, detecting skin cancer by analyzing images of it;
  • automotive industry – developing self-driving cars;
  • the financial sector – detecting suspicious financial transactions, designing stock exchange robots;
  • arts – creating paintings, music.

Blockchain

This term denotes blocks of data linked cryptographically. The design of this data structure is such that to alter one block of data, all subsequent blocks must also be altered, which is very difficult, given that the consensus of the majority of the network is required. The technology has been applied successfully in cryptocurrency creating a decentralized system which records transactions.

There are some other potential use cases:

  • smart contracts;
  • banking (it can speed up financial transactions making them more secure at the same time);
  • music distribution (to track digital use and payments to authors, compiling data on sales);
  • insurance (p2p insurance, microinsurance);
  • online voting;
  • applications in the sharing economy.

Augmented Reality

This refers to augmenting real-world objects with visual, auditory, haptic or other type of sensor information generated by computers. Applications are limited only by imagination and span various fields:

  • archeology – overlaying archeological structure onto the modern landscape to derive possible configurations of the site;
  • architecture – it can aid in visualizing building projects prior to their implementation;
  • visual art – for instance, allowing people to interact with “enhanced” museum exhibits using their smartphones;
  • education – text, images, videos, can be superimposed into the real-time environment of a student.

Becoming proficient in the following technologies would enable software developers to reap the benefits of these innovations and stay assured they are not outpaced by the competition.

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