Emerging Technologies

Chances are, nearly all of us have heard of the Internet of Things (IoT) by now.  IoT can be many things and that list continues to grow with new innovative ideas being explored daily.  Basically, we can think of it as a non-traditional network connected device.  To expand upon that, IoT is a collection of billions of physical (electro/mechanical) devices that serve a wide variety of purposes and are distributed throughout the world and are connected to the Internet. It is a device or system that is electro/mechanical equipment with digital input/output.  It is a wide variety of network connected computing components.  Each with a unique identifier that enables it to transfer data over a network without any other assistance or interaction. That data is received and processed and utilized by a variety of systems/applications and their number grow minute by minute.

The shrinking physical size and cost of microprocessors is expected to propel the global IoT market forecasts.  All things considered suggests that the number of IoT devices will grow to around $1.6 trillion U.S. dollars by 2025. That is up from just over $210 billion U.S. dollars in size at the end of 2019. Link: https://www.statista.com/statistics/976313/global-iot-market-size/  It is important to keep in mind that IoT will be influenced by a number of emerging technologies and that includes blockchain technology as well as 5G. Many believe that IoT will have a transformative and disruptive impact on business, government, industry and our daily lives. Given the projected growth, variety of applications and estimated value IoT brings to the table, program and project managers will likely see initiatives involving IoT devices and technologies going forward.

So, Deep Ledger Technology is another name for Blockchain.  Blockchain is a relatively new and emerging technology that is commonly referred to as a ‘Digital Ledger.’  It is a list of records (referred to as blocks). It allows digital information to be entered, distributed, but that information is not allowed to be copied and most importantly it cannot be altered. That makes this highly secure and very desirable for a wide variety of applications. It first appeared as a core component of cryptocurrencies. Here is a link to a webinar on cryptocurrencies.  Although a bit dated now (April 2017), it sets much of the foundation.
LINK: https://www.projectmanagement.com/videos/380495/Cryptocurrencies

The Blockchain overall market is projected to grow to $169.5 billion by 2025 from a mere $1.3 Billion in 2017. That is very aggressive growth.  Many believe with the explosion data we are currently experiencing and that is expected to continue, these estimates of dramatic growth could be highly likely.  In 2018, IDC estimated that data will grow to an astonishing 175 zettabytes worldwide by 2025.  It is clear, that much data, demands aggressive management techniques.  When asked if Blockchain was a strategic imperative a limited number of respondents felt as follows, only 15% said YES and 35% said NO, with the remainder stating they were unsure.  It should be noted, many professionals are not really sure what blockchain is, or how the technology can be used. Clearly blockchain appears to be following Gartner’s Hype Cycle

Gartner’s Hype Cycle – LINK: https://www.gartner.com/en/research/methodologies/gartner-hype-cycle

There is little question, blockchain holds the promise of solving many of the data management problems we currently face as well as reducing our costs. There are a number of new products and services that leverage blockchain that have the potential to become commonplace throughout the digital world. This is another of the many emerging technologies that appears to be on the horizon with disruptive potential.  As such, program and project managers should familiarize themselves with the technology. 

The VR/AR/HA technology suite recently took a big step forward with the release of a VR glove that uses haptic feedback and motion capture to simulate real touch in a virtual reality environment. Think about that in a whole-body suite.  This goes far beyond gaming.  Think about this tied to a robot with a mechanical hand and our movement is replicated by the robot!  This would close the feedback loop!

LINK: https://screenrant.com/teslasuit-vr-glove-real-touch-feedback-new/

Given the holiday season, I thought a topic that is a bit off of technology and addresses the betterment of society would be in order.  Every industry has the potential to have human trafficking activities within their domain.  Farm labor, factory workers and domestic labor are three of the more frequently mentioned industries where human trafficking activities are identified as being present.  Human Trafficking a global problem estimated at $150 billion. One often referenced government stat puts the problem at between 600,000 to 800,000 women, children and men who are bought and sold across international borders every year.  They are exploited for forced labor or use for commercial sex. 

INSIGHT:  The forced labor activities have been found in cleaning/janitorial services, massage parlors, and possibly nail salons (partial list). 

There have been a number of instances where human trafficking activities were operating clandestinely inside another company without any executive awareness. Human trafficking is a horrific crime. In addition, the damage to an organization’s reputation caught up in a human trafficking scandal or criminal probe can be substantial as well as the fines and imprisonment. Accusation alone can bring with it a dramatic change in an organization’s critical measures of success. Loss of customers, drop in sales, lower stock prices and so much more.  With so much that can be put at risk, it was shocking to learn that less than 12 percent of organizations asked, actually have a program in place to identify and address any human trafficking activities even by 3rd-party vendors. However, that is minuscule when compared to the damage to the people and their families that are sold and used.  

INSIGHT:  The human trafficking industry is primarily cash paying – to those doing the trafficking and for the services of those being trafficked. It is also important to note that cryptocurrencies have been identified as helping to facilitate human trafficking around the world.

Webinar: Cryptocurrencies – while a bit aged now, this provides the basics about cryptocurrencies for those who are unfamiliar.  LINK: https://www.projectmanagement.com/videos/380495/Cryptocurrencies

If you have some concerns or have seen suspicious activities that could indicate involvement with potential human trafficking, you would be well advised to contact your organization’s Security Department, Chief Risk or Compliance Officer.  AGAIN, if you see something say something.

BREAKING NEWS: Strategic Cooperation Agreement - teaming to advance quantum information, science and technology!

Perhaps a sign of things to come!

https://www.nextgov.com/emerging-tech/2019/12/us-japan-sign-international-statement-quantum-cooperation/162053/