This year's Cyberposium held at the Harvard Business School revealed that Information Technology ("IT") executives are concerned with such areas as security technologies, artificial intelligence, third-generation networking products and services, voice over Internet protocol, and all things wireless!
Recent trends toward globalization and communication technologies are evidence that technological innovations will continue to be the leading source of change in business worldwide; and as a result, entrepreneurial capitalism is expected to flourish everywhere. As markets improve, corporations and individuals will purchase products and services that are expected to improve profits, productivity and existing business processes. For this reason, software companies and others will offer products that will further digitize business processes and services.
According to Harry S. Dent, Jr. in the New York Times Bestseller "The Roaring 2000s," there are eight major trends underway in IT that are creating a new consumer revolution and are expected to result in unprecedented growth in technology, productivity and our economy.
- Vastly expanded computer power
- Continuing mass adoption of portable and home PCs
- Microprocessor-embedded appliances linked through the Internet
- Computers continue to evolve into simple, inexpensive appliances
- Consumers are more rapidly moving online
- Communication bandwidth expanding rapidly
- An aging population, and an overall significant increase in computer literacy
- Accelerating trend toward object-oriented programming for customized software
A recent issue of the "RedHerring" magazine states the following technologies are expected to be the focus of corporations undertaking research and development projects that will be instrumental in meeting consumer demand and in changing the World:
Bio-IT is the tool and data technology used in biotech research.
Companies that can integrate technology, talent and biology to produce medicines and drugs will lead the field.
As demand for high-speed Internet access continues to grow, carriers will have to address the need for expanded bandwidth. Of particular concern, is upgrading older synchronous optical network equipment, designed to carry voice traffic, with dense wavelength division multiplexing hardware, which can handle high-speed data traffic more efficiently.
New offerings in Web applications, virtual private networks, voice over IP, flexible bandwidth, and software-based applications will cause carriers to invest in data centers which will allow companies to outsource their infrastructure and manage applications intelligently.
Since more companies look to outsource their IT infrastructure to external data centers, as well as use the Internet to increase real time communication within their organizations and among clients and vendors, hardware companies are developing an array of hardware devices aimed at enhancing the dependability, speed and security of the Internet.
As a result of ever increasing trends toward convergence communication systems, consumer electronics and computing, companies are adding more functions to devices; such as, DVD playback, graphics and Internet connectivity.
Media companies will need new technologies such as RealNetworks and enhanced digital downloading to stay competitive and meet consumer demand for these services. It is expected that mergers among diverse companies within the Media Industry will continue in the pursuit of bringing new technologies to the industry.
Once this technology is fully developed, the electrical, chemical and physical properties that occur on the nano scale will change the way we innovate and the way products are designed, manufactured and refined.
Although recent world events have pushed security and data storage higher on the list, the top priority for IT managers is integrating those applications they purchased during the previous growth economy. To address this challenge, real-time computing and new software applications delivered over the Internet are expected to flourish in the new Internet Age.
Nearly all the wireless industry's challenges can be traced to bandwidth constraints. Companies are working on making wireless technology more useful in the workplace, reducing the cost of the networks, developing technology geared toward achieving more effectiveness and cost efficiencies, and developing alternative data transmission technology.
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