The economy has been constantly evolving over the past few years, largely driven by the adaptation of innovations in the technology sector across the broader market. There are a few changing industries that have seen a revolution in the way consumers enjoy products. Amazon has revolutionized the shopping experience for the customer and is in the process of changing the way groceries and consumables are purchased. The purpose of this article is to touch on some of the upcoming trends in the economy, and how some of these disruptive companies are impacting the consumer experience.
The automotive industry is in the crossfire of a technology revolution as companies like Tesla (TSLA) are looking to implement alternative energy solutions into everyday vehicles. They recently announced that they are getting ready to release an electric-powered semi-truck. Indeed, commercial truck sales California companies browse will soon include all-electric options alongside classic diesel. But alternative energy is not the only way that the automotive industry is changing. Alphabet (parent company of Google) has been focusing a lot of its efforts on its autonomous driving business arm Waymo. There are also other companies that could facilitate this transition to autonomous driving as many of the microchip stocks have formed partnerships with these pioneering companies, such as Advanced Micro Devices (AMD) and NVidia (NVDA).
The same companies that are impacting autonomous driving are also transforming the gaming industry. The high powered graphics processing capabilities of the new chips being developed have created a more immersive experience than ever. But the really true transformation may come through the advent of virtual reality. One of the biggest companies that are involved in virtual reality in relation to gaming is Facebook (FB). Their Oculus Rift virtual reality gaming system has yet to fully catch on, but as this technology advances even further, there could be a change in the winds coming with console gaming systems. Sony recently launched a PlayStation virtual reality racing bundle that could lay the groundwork for eventually replacing the existing user experience, making gaming more immersive than ever.
There are a variety of ways that home automation has been changing over the past few years. The NEST smart thermostat system is easily connected to your smartphone for easy and energy efficient adjustments to your home environment. But the real way that this is changing is through the advent and recent implementation of artificial intelligence in the home. The latest saturation of the market with smart speakers is just the beginning, as these systems are now connecting to all facets of your home as more and more devices become connected to each other and the consumer. This has been coined the Internet of Things (IoT), and is transforming the way the consumer interacts with their home.
Technology has also been transforming the way that medicine and medical care is delivered. An AI application in healthcare like a robot can make a huge difference in a company’s bottom line. In fact, robotics have been transforming the way that a variety of surgical procedures are being performed. And as the robotics industry continues to transform there will be a new plethora of affordable surgical procedures that are either fully autonomous or simply assisted by robotics.
Perhaps one of the most well-known companies in this industry is Intuitive Surgical (ISRG). Intuitive’ s Da Vinci system is one of the most advanced and effective surgical assist robotic systems. As this technology continues to advance, the applications for remotely delivered health care and surgery will explode. Keep an eye out for this company to continue implementing their system into more and more hospitals as this field continues to grow.