Innovation

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innovation research, innovation house 5g innovation fintech innovation lab it innovation innovation it retail innovation innovation management software centre for international governance innovation frugal innovation innovation center center of innovation financial innovation

  Innovation is at the very core of what we, as the human species, can achieve. Think of the telegram and today’s instantaneous smartphone applications that you can not only send messages on but also call and text in the same app. We have not only surpassed mobile communication, but technology has gone even further to allow for face-to-face virtual interaction. It may seem like something ordinary, but only thirty years ago, it was unthinkable that we would reach not only mobile telecommunications for calls and texts, but also live video chat and two-way video communication. The ease at which technology has facilitated such implementation is also quite astounding. The market has become so proliferated with such solutions that it has become normal to expect such cutting edge technology in the palm of our hands.

 

What We’ll Discuss On This Article:

 

  Technology

Technology is not the only field that has shown innovation, and numerous other sectors and industries have contributed to the development of the world to the point it has reached. These include the energy sector, transportation, manufacturing, logistics, supply, and many others. All these have worked together to improve and steer entire industries. There have been three industrial revolutions, and the world is looking to industry 4.0. 5G technology and 5G innovation is expected to play a pivotal role in industry 4.0 and will be relied on to provide the speeds and enhanced bandwidth needed. Transportation systems, for instance, will depend on 5G technology to facilitate driverless cars and their interconnectivity. Traffic systems and alert notifications for these cars will also work autonomously, creating the need for reliable and dependable internet connectivity and speeds.

 

  Gaming

The gaming industry will also look to 5G to ensure that gamers can experience seamless and interactive gaming. A lot of the games in the market today have been too slow when streamed online. 5G technology would completely change that and make live streaming games seamless. It would be like watching a playing video file with clarities of up to and exceeding 8K. The resolution of numerous games will improve tremendously and will complement the gaming experience and the efforts that manufacturers put into making the various tags. Gamers will enjoy increased speeds and immersive gaming at the very cutting edge. Such speeds will increase stay-in enjoyability as 5G technology is like the ocean, and 4G is only a lake. Think about it. 5G will revolutionize the way we interact with telecommunications and will open a whole new world of connectivity. I don’t think any of us has experienced several GB-per-second downloads, and it will be like watching the computer literally run.

 

  Growth

Innovation has fueled growth tremendously over the last three decades. It has been one of the most productive times of the world when it comes to automation and what machines and technological systems can do. Think of automated conveyer belts and the rapid movement of products into packing and onto shipping trucks for distribution all over the world. Automotive manufacturing has also enjoyed the speed that comes with automation and robotics. The sector has seen the utilization of lean principles for assembly and agile methodologies for simulation software to ensure that motor vehicles production happens rapidly and with increased quality. Testing for all cars coming out of the production line gets bolstered by innovation. Approaches such as lean principles have been around for decades, and the advent of technology has only meant that such an approach has only become more effectively applied. Technology, in this light, has acted as an additional and catalytic layer of bolstering or improving the principles that became used in traditional systems. The ideas of scholars such as Albert Einstein and Nikola Tesla are now what the world is implementing, actualizing, and approaching. 

 

  Algorithms

Algorithms have also been featured dramatically in the discussions of innovation. Algorithms stand accused of treating people like statistics, and that is currently playing out in the United Kingdom. Students have widely protested the use of algorithms to predict their exam and test scores as they have been unable to sit their exams due to the current pandemic. The lockdown due to COVID-19 has paradoxically been very good to tech companies, and we have become more reliable on technological systems for communications. Technologies such as ZOOM are today mainstream thanks to the events caused by the current pandemic. The pandemic has pushed us to rely on virtual communications and interactions, as physical interactions have become increasingly difficult. The circumstances have nudged us to familiarize ourselves with new technologies, and this has meant a shorter learning curve for video conferencing and video chat systems.

 

  Interactivity

The internet has allowed us an extra layer of human connectivity beyond the physical and emotional interaction that we would typically have amongst ourselves. Usually, we interact with others physically, or think about them and interact with them emotionally or even spiritually, when we cannot be together. Technology has blended these interactions and allowed for a middle point and peer-to-peer connections and connectivity. Today, a C.E.O can be in Dubai and still give directions for business activities in London. He or she can even attend a virtual meeting with individuals in the United States on the same day. The need to be in a particular location physically for you to interact with others has become redundant. The same holds for wearing a pair of pants with a suit as an individual can be wearing an outfit only from the waist up and conduct serious meetings via video chat. Unfortunately, some workers and job roles have also become redundant due to robotics and the automation of various jobs.  Human-computer interaction is still not as natural as social interaction, and technology will, in the future, need to provide avenues to better person-to-person communication.

 

  Encryption

Protests have also become innovative and have shown us the innovative solutions that we as young people can come up with when necessity forces us to. Encryption and encrypted systems have become the new norm, and users can have encrypted peer-to-peer connections that are secure and virtually inaccessible to third parties. Encrypted messages ensure that protestors have workarounds for censorship. Additionally, banking, finance, and other sectors can increasingly secure their systems and ensure reliable online transactions. Blockchain technology has also revolutionized the security of technological systems and especially the field of online or virtual currency. Such action has reduced the number of computer crimes occuring globally. Blockchain technology has numerous other applications and can even be used to secure voting and ensure that medical records are stored securely. Even as we learn more about these systems, it is evident that innovation will touch all aspects of life, and living in the twenty-first century will entail the promise of technological solutions for a myriad of

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Do you use encrypted messaging?x

 

  Frugal Innovations

Innovation can also be frugal, where companies can find niche markets and provide technological solutions geared towards functionality and simplicity. These kinds of innovations aim for the simplest of solutions to problems that society and the entire world face. Instead of complicating the solution, frugal innovations seek to provide a clear-cut and working solution. Such a solution is a solution that is easy to implement, cost-effective, and non-complex. Such innovations allow all of us to interact with numerous levels of complexity within similar technologies, as per our familiarity levels with the technology. For instance, one can use a Kindle tablet to read e-books if they are unable to configure or understand the functionality of computers and computing. Fields such as big data will also have a significant impact on how consumers relate with businesses online.

 

  Cloud Computing

Cloud computing has dramatically influenced how well startups can conduct business and access the tools and solutions that they need. Today, startups can virtually enjoy platform as a service (PaaS), software as a service(SaaS), and infrastructure as a service(IaaS). These reduce the cost of doing business considerably, as companies need not have all these facilitations in-house and can outsource them through the cloud. Outsourcing in this manner is beneficial as it also negates the need to cater for security and maintenance as the cloud provider will provide for these. Cloud providers include Microsoft Azure, Google Cloud, Oracle, Salesforce, Amazon Web Services (AWS) offering services such as Amazon S3 cloud storage, among others. These are companies that allow organizations and individuals to develop applications and systems on the cloud, for a fee, and without the need to have all these systems installed and configured in-house. Such facilitation also means that small companies can afford development and that they also acquire support services from experts working for cloud providers. Support and facilitation dramatically increase the ease of system development and ensures that anyone can develop systems without the need to have in-depth infrastructural-setup knowledge. 

 

  The Future

Innovation underlines what this century is all about. The twenty-first century is the century of innovation and will have a tremendous impact on the course that human life will take for hundreds and thousands of years to come. Innovation has meant that we have had to learn new ways to interact and work. We can now comfortably work at home, and this will revolutionize how companies interact with their staff and how consumers get their goods and services. Delivery systems and online commerce have also increased the ease of purchase and shopping. Even as this could lead to consumerism, the global economy is enjoying increased online commerce, which has led to ease of conducting business and numerous opportunities for new market entrants.

 

Consequently, there is increased competition in almost all sectors, and industry players are increasingly outdoing themselves as a way to gain a competitive edge. Such competition improves the quality of goods and service production and leads to increased customer satisfaction. As such, innovation in markets and sales and commerce has been very beneficial to us consumers and has offered numerous options for what to purchase. Technology and innovation have significantly improved the product offerings that are accessible to consumers globally and their accessibility. 

 

  Sustainability

We should all seek to innovate, and the world will be sure to appreciate and support genuinely innovative solutions. Find your niche, develop a passion for a particular industry, and look for ways to provide solutions, products, and services that effectively solve a real problem and provide value to consumers. Innovation is at the core of how well we will all lead our lives and the extent of the impact that we can have on the lives of others. Companies are becoming increasingly innovative, and this has led to increased customer engagement and customer relationship management. The availability of information has also increased knowledge, and we are all motivated to learn, owing to the proliferation of knowledge and learning solutions. Innovate, provide solutions, and make a positive impact on society. This way, the world will become a better place, and we will all grow and increase the beauty of the world as it is, nature and our inner beauty. Stay responsible and ensure that you care for the environment. Innovate in a way that ensures environmental friendliness and sustainability. 

 

Watch the video below for more on Frugal Innovations.

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