Technology Buzzwords: Buzzword Watch
There are many buzzwords out there from leading analysts – Gartner Hype Cycle is very popular. IDC, Forrester, Frost & Sullivan etc. make similar predictions. Similarly, CompTIA.org is an IT Industry trade body.
This is an informal look at interesting concepts that may be worth paying attention to in the year ahead.
Cryptocurrency: A digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
Device Mesh: The device mesh refers to an expanding set of endpoints people use to access applications and information or interact with people, social communities, governments and businesses.
Containers: Open platforms to build, ship, componentize, & run distributed applications & move them across platforms and clouds with greater independence (e.g. Docker).
Quantified Self: A movement to incorporate technology into data acquisition on aspects of a person's daily life in terms of inputs (e.g. food consumed), states (e.g. mood), and performance (mental and physical).
Haptics: Haptics is the science of applying touch (tactile) sensation and control to interaction with computer applications.
Per Gaze: A Google-Glass patent for an ad system that allows real-world ads to be translated into digital behaviors.
Internet Of Things: A proposed development of the Internet in which everyday objects have network connectivity, allowing them to send and receive data.
Sensorization: Sensorization is a buzzword to define the extent or the trend of embedding as many sensors as possible within a device or appliance.
Gamification: Applying game mechanics and game design techniques to engage and motivate people to achieve their goals.
Software-defined Networking: An approach to computer networking that allows network administrators to manage network services through abstraction of higher-level functionality.
Mobile Wallets: Mobile wallets use near-field communication (NFC) chips inside mobile smart phones and tablets to transmit payment information.
Machine Learning: Type of artificial intelligence (AI) that provides computers with the ability to learn without being explicitly programmed.
Wearable Technology: Category of technology devices that can be worn by a consumer and often include tracking information related to health and fitness.
Location-based Authentication: Goes beyond user-id, password & biometrics to prove an individual's identity and authenticity based on location. Pre-authorizations, reduce CNP fraud.
Data Stewardship: Management and oversight of an organization's data assets to help provide business users with high-quality data that is easily accessible in a consistent manner.
Flexible Display: A flexible display is an electronic visual display which is flexible in nature; differentiable from the more prevalent traditional flat screen displays used in most electronics devices.
Screenless Displays: Part of an emerging technology in the field of displays that are likely to be a game changer and would change the way displays are used. e.g. holograms (like Star wars), LCD panels, cockpit windows
Augmented Reality: A technology that superimposes a computer-generated image on a user's view of the real world, thus providing a composite view. Augmented reality adds graphics, sounds, haptic feedback and smell to the natural world as it exists. Best example – Pokemon Go.
These are buzzwords that you will be seeing used in major Retail Banks across the world. Retail Banks have really developed over time as a dynamic workspace. Learn all about how Retail Banks function in our retail banking and wealth Management course.
Written by Alex Harrison.