Did you know that in the market of digital banks there are solutions that allow customers to open an account on their phones in minutes, wherever and whenever they want?
Digital banking, digital bank, mobile banking... but do you know the difference between them?
Let's learn this together.
What does Digital Revolution mean?
Is the shift from mechanical and analog to digital electronics, has widespread the adoption and integration of digital technology in all areas of society, including business, education, entertainment, and communication.
It began in the second half of the 20th century with the arrival of digital technology that had caused a disruptive change in both society and the economy.
What's its impact?
The Digital Revolution began with the invention of the Internet and the rise of personal computers in the home. This revolution brought about a paradigm shift in the way modern technology was used in industrial processes and quickly became integrated into society and the global economy.
Characterized by its constantly evolving nature, digital technology has continued to expand and enhance productivity across a wide range of sectors and industries.
The impact of the Revolution
Discrete cosine transform
Another development in digital data technology was a compression technique called discrete cosine transform, it became a fundamental item to the digital revolution later as the basis for most digital media compression standards from the late 1980s onwards, including different digital image formats, video coding formats, audio compression standards and digital television standards.
The 1980s were a significant decade in the evolution of the digital revolution, as the popularity of digital devices increased dramatically. This was exemplified by the widespread adoption of Automated Teller Machines (ATMs), the use of industrial robots in manufacturing, the emergence of electronic music and video games, and the use of computer-generated images in the movie industry.
In the early 1980s, millions of people purchased their first home computers, and digital cell phones were first developed around this time as well. However, it wasn't until 1991 that digital cell phones were sold commercially. In 1988, the first digital camera was created, marking another important milestone in the evolution of digital technology.
The invention of the transistor in 1947 marked a significant milestone in the timeline of the digital revolution. This revolutionary semiconductor device paved the way for the development of advanced computers and other electronic devices and is considered by many to be the beginning of the digital age.
During the 1950s and 1960s, computer systems were adopted by governments and various other organizations for a variety of purposes. These early computer systems were often large and expensive, and were primarily used for tasks such as data processing and scientific simulations.
Gordon Moore forecasted that the number of components that could be placed on an integrated circuit would double approximately every year, leading to exponential increases in the complexity and capabilities of electronic devices.
Known as Moore's Law, it has driven much of the innovation and progress in the field of electronics and computing over the past half-century.
In 1969, the public was introduced to the concepts that eventually led to the development of the internet. This included the first connections between computers, which allowed for the development of software that enabled remote login, file transfer, and new forms of communication such as email. These advances marked a significant milestone in the evolution of the internet and paved the way for the widespread adoption of this technology in the decades that followed.
In parallel with the development of the internet, scientists began to explore the concept of time-sharing between computer users and eventually the possibility of achieving this over wide area networks. The public was first introduced to these concepts in 1969, when a message was sent over the ARPANET (Advanced Research Projects Agency Network), marking the first connection between computers. Further software development enabled the use of remote login, file transfer, and email, which have become essential components of the internet and modern communication.
The computer and the internet became increasingly familiar to the general public and by the end of the decade, the ability to use computers had become a necessity for many jobs.
The internet became a normal part of most businesses and an integral part of everyday life for almost half of the European population.
The digital revolution led to the widespread adoption of mobile phones and the continued growth of the internet. The number of internet users increased significantly during this decade, and television began to transition from using analog to digital signals. These developments were driven by the ongoing evolution of digital technology and the increasing affordability of electronic devices.
The digital revolution continued to have a significant impact on society, leading to the widespread use of the internet and the proliferation of mobile devices.
By the end of the decade, nearly 70% of the world's population owned a mobile phone, and the connection between internet websites and mobile devices had become a standard in communication.
So far, we have witnessed telephones with the capacity of a computer in the palm of your hand, remote jobs, completely online companies, digital currencies and gadgets with Artificial Intelligence.
The Digital Revolution through the years
What's next for Digital Revolution
As technology has become more user-friendly and accessible, individuals across all levels of digital literacy have embraced it and started using it in a wide range of areas of their lives.
By 2020, more than half of the world's population actively used the internet, resulting in the digital revolution having a widespread impact on everyday life, from social media and online shopping to remote work and on-demand entertainment services.
The digital revolution has significantly reshaped the way we function in our daily lives.
Modern digital systems offer new ways to optimize the efficiency of shared resources and create reliable solutions for individual users. These systems have been designed to support a wide range of activities and aspects of our lives.
Fossil has recognized the importance of innovation in differentiating itself from increasing competition. In mid-December, the company launched an app that enables users to virtually try on watches from the brand on their wrists from the comfort of their own homes. The app is available on multiple channels, including Fossil.com and the Watch Station platform, and allows users to test out different models without having to leave their homes.
Made for You
In mid-December 2022, Amazon introduced a new product called "Made for You," which allows users to design their own custom T-shirts from start to finish. With this innovative technology, users can choose the size, material, and color of their T-shirts to create a truly unique and personalized product. This technology is interesting because it goes beyond what traditional textile professionals offer, allowing users to create custom, tailor-made T-shirts in real-time.
This app can work independently or with Waze and can send real-time traffic information to drivers without the driver having a connected vehicle. This application supports drivers and gives them the information they need for an adapted and optimal driving experience. The user has the possibility of reporting problems related to traffic, parking concerns and possible accidents. Much of the data is anonymous which encourages the user to make reports discreetly. The purpose of this application is to promote intelligent and cooperative transport.
IKEA Place is an app that allows users to visualize IKEA products in 3D at a real scale in their own space. This app includes a wide range of products sold by the company, including cabinets, tables, sofas, and chairs, and helps users better understand the size, design, and functionality of the different pieces of furniture in their own interiors.
This app is designed to help users reduce stress and anxiety, which can often contribute to sleepless nights. It includes features such as guided meditations, a sleep history, customized breathing programs, and playlists of relaxing music to help users get a good night's sleep and maintain their performance throughout the day.
The World Wide Web
The invention of the World Wide Web in 1989 by Tim Berners-Lee revolutionized the way we communicate and access information. He developed a set of standard rules for communication between systems and created a server to store information, as well as a browser software that allowed users to interact with various internet resources.
Over time, improvements to the web made it easier to use, leading to an increase in internet users and the integration of the internet into mass culture. By 1996, many businesses had websites and adapted their business models to meet the growing expectations of customers.
The Digital Revolution
“The massive transformations driven by digital technology have begun. The Digital Revolution gives you a complete roadmap for navigating the breathtaking changes happening now and shows you how to succeed.
Silicon Valley executive, thought leader, and New York Times best-selling author Inder Sidhu shows how cloud computing, social media, mobility, sensors, apps, big data analytics, and more can be brought together in virtually infinite combinations to create opportunities and pose risks previously unimaginable.
You’ll learn how digital pioneers are applying connected digital technologies, also known as the Internet of Everything, to dramatically improve financial performance, customer experience, and workforce engagement in fields ranging from healthcare to education, from retail to government.”
The Technology Fallacy: How People Are the Real Key to Digital Transformation
Gerald C. Kane
“This book offers managers and business leaders a guide for surviving digital disruptions—but it is not a book about technology. It is about the organizational changes required to harness the power of technology. The authors argue that digital disruption is primarily about people and that effective digital transformation involves changes to organizational dynamics and how work gets done. A focus only on selecting and implementing the right digital technologies is not likely to lead to success. The best way to respond to digital disruption is by changing the company culture to be more agile, risk tolerant, and experimental”
AI 2041: Ten Visions for Our Future
Kai-Fu Lee, Chen Qiufan.
“In the next 20 years, much of our human life will be changed due to artificial intelligence. Authors Kai-Fu Lee and Chen Qiufan share the eye-opening AI possibilities that we may see by 2041 (including the prospect that AI might trigger massive job relocation and displacement across numerous industries)”.
Disclaimer: the information provided is for informational purposes only and is not intended as a recommendation or endorsement of any particular product, service, or course of action.