4 Funds To Tap Transformational Technologies Growth

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The coronavirus pandemic has brought about radical transformation in both societal and technological norms. The society is likely to continue remote trends like digital communications, work from home, online shopping and education, throughout 2021 and beyond. Technology will not only continue to assist this societal transformation but also become a cornerstone for this change. Hence, transformational technologies should provide ample growth opportunities for funds with stocks of companies providing these kinds of technologies.

Now, what is transformational technology? It is an amalgamation of hardware and software-based tools designed to enhance human psychological well-being along with cognitive function and physical capabilities. Hence, big data, artificial intelligence (AI), cloud computing, internet of things (IoT), robotics, blockchain and even 5G are the building blocks of this transformation.

Per a survey conducted by IBM, the COVID-19 pandemic has accelerated digital transformation at 59% of organizations. Hence, reducing costs is the top benefit that is attributed to the transformation initiatives across various verticals of business. Reliance on tech platforms has become more acute in recent days. Businesses which are digitalizing but cannot afford infrastructure are opting for various platforms-as-a-service. Companies have shifted to more cloud-based business activities, accelerated process automation, and made permanent changes to organization strategy.

In the last decade, AI has faced explosive growth. AI’s application in the field of testing and planned deployments is phenomenal. Companies are encashing AI’s capabilities in social engineering, designing media content, and data poisoning. Additionally, concepts like big data are constantly helping companies set a target for advertising based on age, gender, shopping habits and location. Meanwhile IoT is playing an integral part in our daily lives, both at home and office. At homes, people are using personalized smart home devices and robots for security and controlling the environment. Meanwhile in offices, industrial IoT systems are helping in business communication, emergency incident management, automation control and management, real-time workforce tracking and management, logistics and supply chain management, asset tracking and management, business process optimization, and predictive maintenance.

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