Learning and enhancing your skills are vital in this technological era. This helps you to prepare yourself for getting the highest paying jobs in the field of your choice. And if you are a professional already, learning new technologies and tools will take you an inch closer to the promotion you always dreamt of. Widening your arsenal of tools also enhances your value as a professional in your company.Here are some of the latest technologyconcepts that are sure to dominate the IT industry,

1. Artificial Intelligence

Artificial intelligence (AI) is the technology used for equipping computer systems with the ability to make decisions like humans. When AI programs are fed to systems, the aim is to mimic human intelligence for performing complex tasks such as pattern recognition, speech recognition, weather forecast and medical diagnosis.AI is used in navigation based applications like Uber, voice assistants like Siri, video streaming services like Netflix, IoT devices and in search engines like Google and Bing.AI helps in automating tasks such as traffic, scheduling trains, making business predictions and designing driverless cars!

2. Data Science

Next up in the list of latest technology concepts is not surprisingly Data Science. Data Science is the technology that helps to make sense of complicated data. You know that data is produced in a humungous amount every day by companies. This includes business data, sales data, customer profile information, server data, and financial figures. Most of this data is in the form of huge data sets that are unstructured. The role of data scientists is to convert these unstructured data sets into structured datasets. Then, these data sets can be analyzed to identify patterns and trends. These patterns are useful for understanding the company’s business performance, customer retention, and how these areas can be improved.

3. Internet of Things

The IoT (Internet of Things) is a network of devices that are connected to each other. Their devices caninteract and share data with each other. These devices may be connected via WiFi, and they share data about their environments and how they are being used. These devices have a computer chip that facilitates this exchange. IoT not only enables the connection between different devices but also their remote access. For example, you lock doors of your car remotely, preheat your ovens and geysers. The FitBit that you use for tracking the number of calories you burn also runs on IoT technology. IoT chips embedded on machines help businesses to assess the performance of those machines and assist in their maintenance. 

4. Blockchain

Blockchain is the foundational technology that powers electronic currencies such as Cryptocurrencies. In simple terms, a Blockchain is an electronic ledger that can be shared among different users. This helps in creating a record of transactions that cannot be altered. Each of these records is time-stamped and linked to the previous one. So every time a new transaction is added to the ledger, it is stored as another block in the chain of transactions – hence the name. Blockchain is updated after the different parties contributing to the ledger agree. After new data is fed into a block, it cannot be erased. This makes technology verifiable and secure.

5. Robotic Process Automation (RPA)

Robotic Process Automation (RPA) is a technology used for automating daily tasks, similar to artificial intelligence. Here, the software is used for automating repetitive tasks such as handling and replying to emails, processing transactions, and handling business data.This technology is used for automating tasks for low-level employees to higher-ranking officials. RPA can automate more than 40% of daily tasks. According to McKinsey, more than 60% of all repetitive tasks can be partially automated using RPA. So, this technology is going to threaten a lot of jobs.