In the modern world, technology has the greatest impact on people’s lives. From transforming the work businesses perform to creating new growth opportunities, the innovation in technology has completely altered the way of performance. Now, it is closely moving into investors’ lives, disrupting the investment industry.
The rapid increase in online trading solutions has also changed things. Anyone with a computer and an internet connection can now start handling their own stock market investments.
Considering industry reports, AI, digital transformation, IoT and cybersecurity will be the most significant tech investment for executives in years to come. As it is anticipated that 71 percent of the world will use mobile phones by 2024, mobile and blockchain technologies will have an impact on financial inclusions.
So, let’s have a look at how technological breakthroughs will have the greatest impact on the future of investment.
Currently, AI is the most revolutionary technology of this decade and its impact can be seen everywhere from businesses to society. Previously, this technology has been utilized for decision making using data analytics. However, its usage is expected to augment in years to come with more business investments into the AI-driven decision-making system. In the coming years, most common AI practice will be seen in business intelligence, automating tedious, mundane tasks, and making a future prediction using the previous data. It will also bring new investment opportunities to investors.
Quantum Computing defines as the process of harnessing phenomena of quantum mechanics to deliver huge leaps forward in computation. The technology currently is a red-hot topic and it is said that the quantum hype will translate into a massive investment boost in the world of technology. Though it is currently in its infancy and in the research and development phase, quantum computing will pave new ways by solving problems that require a lot of computation. IBM Research and JPMorgan Chase, for instance, leverage this technology to envisage the price of financial options.
Digital transformation is the use of digital or new-age technologies, making business processes more efficient and productive. Today, it has garnered a lot of buzzes as most business leaders consider its significance to their business growth. In the financial industry, digital transformation has made a huge impact as it is reshaping financial services. It has also positively impacted economic growth and has stimulated the growth of innovations.
Blockchain is a shared, distributed, and immutable ledger technology that facilitates the process of recording transactions and tracking assets. The technology currently is revolutionizing the storing, management and transfer of value between digital identities in several economic sectors. Now it is turning to the investment industry. Blockchain acts as the financial traders for making financial transactions while investing.