IT, Tech, and AI: 10 Buzzwords You Can’t Live Without in 2018
Big data is booming, but where’s the focus? All the trends and buzzwords prevalent in the tech space are in a constant state of flux. Struggling to stay on top of it all? Don’t worry – we compiled some of the top buzzwords for 2018 to clarify things for you. Stay in the know, and on top of that tech verbiage, and read below to learn more about the 12 buzzwords your non-profit or association can’t (and shouldn’t) live without in 2018:
- Artificial Intelligence (AI)
Artificial Intelligence or AI is a broad term that encompasses all things technology. Basically, anything that’s not human, and can compute or think, is considered AI. It’s typically broken out into two types: “narrow AI” or “strong AI.” Narrow AI gets a system working, without simulating human behavior, while strong AI allows a system to simulate human behavior, and “think as humans think.” Scientists have been working on AI for years, and the tech world is expected to roll out some new applications in 2018.
- OCR (Optical Character Reader)
Also known as Optical Character Recognition, OCR is when electronic versions of handwritten or typed text are converted into machine-encoded text. For example, when you scan a document or are using a photo of a document.
- Artificial Neural Network
Picture a human brain—there are groups of nodes that connect to a vast network of neurons, creating a neural network. It works the similarly in technology; these interconnected nodes have an input and an output that allow the computers within a network communicate with one another. These interactions create an artificial neural network.
- Internet of Things (IoT)
Internet of Things or IoT is one of the most prominent and influential buzzwords in recent years, and will continue to grow in popularity as its applications become more tangible. IoT essentially works to create one big information system—everyday physical objects connect to the Internet and each other. This includes mobile devices, wearables, consumer and home electronic devices, as well as automotive and environmental equipment and appliances. Between Google, Apple, and Amazon, there are many differing platforms on the market today, that don’t necessarily play well with each other. Stay tuned to see what advances take place in this arena, in 2018.
When you think of the term “blockchain,” one company should come to mind: Bitcoin. The technology behind Bitcoin, is blockchain, and it’s what enables Bitcoin users to exchange currency without any fear of being ripped off or receiving “counterfeit” Bitcoin. Blockchain works by keeping a transparent record of each transaction that happens using Bitcoin as currency. Investopedia put it simply, “To use conventional banking as an analogy, the blockchain is like a full history of banking transactions. Bitcoin transactions are entered chronologically in a blockchain just the way bank transactions are. Blocks, meanwhile, are like individual bank statements.”
While a “token” represents a unit of value, “tokenization” enables new class assets. Tokens can be assigned to almost any asset, person, organization, or utility. They are important in blockchain environments because it’s how we exchange and share value with customers and partners. This kind of organization is essential to any non-profit or association structure.
Decentralization removes the middleman. Blockchain enables smarter transactions because the database (or ledger) is managed by a network versus one central authority; this means the network operates on a peer-to-peer basis. Usually, cryptography is used during these exchanges, to validate and record every transaction. It’s very secure and sets a high bar for trust.
- Digital Detox / Digital Productivity
People are highly ingrained in technology these days, so much so – they have a hard time separating themselves from it; because of that the term “digital detox” has become highly popular online. The concept is to be totally disconnected from technology – your phone especially – and all social platforms, entirely. The idea is to go outside or make face-to-face connections in real life (without documenting them online), in order to foster a better quality of life.
In the workplace, many “digital productivity “ tools, pop-up, and add-ons that contain a constant flow of news, updates, beeps, emails, notifications, etc. that tend to disturb and interrupt meetings or focused work time. These tools are usually developed to help facilitate communications or unclutter email boxes.
- Microservices / Microservice Architecture
Microservices, also known as microservice architecture, is a method of developing software systems. This IT-related buzzword can be broken down into several component services, so which can be deployed, twisted, and redeployed independently. It focuses more on products than projects, is organized around business capabilities, and has a decentralized data management and governance.
- Quantum Computing
Scientists have been researching this field for decades. Quantum computers can solve significantly more complex problems versus standard electronic computers; they do this by using quantum bit (qubits) instead of binary digits (bits), meaning the data isn’t limited by two defined states (0 or 1) anymore.
Technology is on the rise, and the sky’s the limit—we’re excited to see where all of these buzzwords take non-profits and associations in 2018! Read more buzzwords here.