Unal Patel is a software engineer with more than ten years of experience in Silicon Valley. He remains at the forefront of the tech sector. He's here to explain the top tech industries and how they impact you.
Applied AI
Unal Patel states that artificial
intelligence continues to improve. Each year it finds its way into new areas of
our lives, from helping manage daily tasks to manufacturing.
The industry had $165 billion in
investments in 2021, marking massive growth. One reason for the exponential
increase is that AI is involved in nearly every industry.
The Mckinsey Survey revealed that
56% of organizations surveyed were using AI technology, compared to 50% the
previous year.
It's also financially lucrative for businesses. More than 1/4 of respondents said that 5% or greater of their EBIT could be attributed to using AI.
Financial Technology
The financial technology industry
is growing at a very fast pace. The industry ramped up in 2020 and shows no
sign of slowing down. Currently, more than $44 billion has been invested in the
industry, with half of the financing coming from the U.S.
The industry includes old
friends. Banking, wealth management, and payment services are the backbone of
the financial technology sector. However, cryptocurrency is still a hot topic and
adding to the growth of financial technology.
Healthcare Technology
Healthcare technology has been
around for years, but the pandemic caused it to grow exponentially. The
industry brought in more than $15 billion in capital during 2020. That's an
increase of 50% over the previous year.
Healthcare tech includes
telehealth services, apps that allow patients to access their healthcare
information, and self-testing services. Data-related products have grown
significantly. In the past, these were avoided due to security reasons.
However, the pandemic made them a necessity.
Remote Work Technology
Unal Patel notes that remote work technology has also
seen a huge increase. Remote work has decreased slightly in 2022, but the
industry is still going strong.
Before the 2020 Pandemic, 23% of
workers who could work remotely were doing so at least part of the time. At the
height of the pandemic, this increased to 71% of those who were able to work
remotely most or all of the time.
In 2022, the remote workforce
dropped to 59%. However, this is still a dramatic increase from pre-covid
numbers. The trend is expected to stay, with many workers enjoying the benefits
of working from home.
Remote work technology has not
only increased dramatically in recent years. It's improved significantly as
well. This could encourage more workers to opt for working from home, out of
choice instead of necessity, in the future.
Unal Patel
Unal Patel is a software engineer in San Jose,
California. He works for Cisco Systems, Inc. as a senior engineer. He's
considered an expert in the industry and enjoys performing his duties remotely.
He enjoys playing cricket and
cheering for his favorite soccer team when he's not working. You can also find
him writing songs or listening to live music.
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