TECH 101 Buzz Words: Big Data
The term “big data” refers to data that is so big, fast, or diverse that traditional methods are difficult or impossible to process.
TECH 101 Buzz Words: Distributed Ledger Technologies
Distributed ledger technology (DLT) is a digital system for documenting asset transactions in which the transactions and their information are stored in numerous locations at the same time.
TECH 101 Buzz Words: Artificial Intelligence
• Artificial intelligence refers to the simulation of human intelligence in machines.
• The goals of artificial intelligence include learning, reasoning, and perception.
• AI is being used across different industries including finance and healthcare.
TECH 101 Buzz Words: Chatbots
With the advancement of technology, more businesses are shifting from conventional to digital platforms to interact with customers. Businesses provide convenience through technology by using AI methods on their digital platforms. Chatbots are one AI method that is becoming more popular in its application and use.
TECH 101 Buzz Words: Machine Learning (ML)
Machine learning is a branch of artificial intelligence (AI) and computer science which focuses on the use of data and algorithms to imitate the way that humans learn, gradually improving its accuracy.
TECH 101 Buzz Words: Virtual Reality (VR)
Virtual reality (VR) is a computer-generated simulation in which a person may interact with an artificial three-dimensional world via the use of electrical equipment such as special eyewear with a screen or gloves equipped with sensors. The user can enjoy a realistic-feeling experience in this simulated artificial world.
TECH 101 Buzz Words: Blockchain
A blockchain is a digital transaction record. The term derives from the structure of the database, in which individual records, known as blocks, are connected in a single list known as a chain. Blockchains are used to record transactions involving cryptocurrencies such as Bitcoin and have a wide range of additional-applications.
TECH 101 Buzz Words: Augmented Reality (AR)
Augmented reality (AR) enhances the real-world setting by morphing the physical environment into a visual one and projecting graphics such as characters and pictures through the user’s phone camera. Through AR, users can control their presence in the real world through a smartphone or another device that supports AR
TECH 101 Buzz Words: Software as a Service (SaaS)
SaaS is a method of software delivery that allows data to be accessed from any device with an internet connection and a web browser. In this web-based model, software vendors host and maintain the servers, databases, and the code that makes up an application.
TECH 101 Buzz Words: Everything as a Service (XaaS)
XaaS recognizes the vast number of products, tools and technologies that vendors now deliver to users as a service over a network — typically the internet — rather than provide locally or on-site within an enterprise.
Prime examples of Xaas are Communication as a Service (CaaS) and Healthcare as a Service (HaaS). CaaS allows a business to access a variety of communication tools and applications as needed. HaaS allows for easier sharing of crucial information, online consultations, prescription deliveries, and other important services.
TECH 101 Buzz Words: Firewall
A firewall is a network security device that monitors incoming and outgoing network traffic and decides whether to allow or block specific traffic, based on a defined set of security rules.
A firewall acts as a barrier between an internal trusted network and outside connections, such as the Internet.
TECH 101 Buzz Words: Cryptocurrency
Cryptocurrencies are increasingly popular digital currencies and an alternative for online payments. To use cryptocurrencies, one needs to have a crypto wallet. This wallet can be software that is a cloud-based service or stored on a computer or mobile device. A wallet is also a tool through which encryption keys are stored to confirm your identity.
TECH 101 Buzz Words: Edge Computing
Edge computing is the practice of capturing, storing, processing and analysing data near the service consumers or data sources, instead of in a centralized data-processing warehouse. Hence, the data is stored at intermediate points at the ‘edge’ of the network, rather than at the central server or data centre.
Edge computing is not part of a cloud system. Instead, edge complements cloud computing but does not replace it.
TECH 101 Buzz Words: Voice-as-User Interface (VUI)
Voice-as-User Interface is a speech recognition technology that allows people to interact with a computer, smartphone or other device through voice commands. Apple’s Siri, Amazon’s Alexa, Google’s Assistant and Microsoft’s Cortana are prime examples of VUIs.
This technology uses voice as the primary mode of communication allowing users to initiate automated services and execute everyday tasks faster and better.
TECH 101 Buzz Words: Digital Transformation
Digital transformation uses technology to reimagine business processes and customer experiences to meet the requirement of changing markets.