3 Tech Industry Developments to Watch

Some of the biggest lifestyle changes in the last 10 years or so are thanks to technology. Just think of the new morning routine: watching a favourite show on your smartphone or tablet while commuting, listening to the hottest new podcasts, scanning social-media posts to keep up with friends and family, and making price comparisons before stepping foot in a store. In fact, you may never even go to a physical store, opting instead for online shopping and home delivery.

The companies behind many of these developments have grown significantly, reporting multi-billion dollar earnings annually.

As an investor, it can be worthwhile to stay on top of what's reshaping the world.

1. Artificial Intelligence 

AI connects data insights with experiences to help people and businesses make decisions and improve processes.

• AI works in everything from speech recognition when you call customer-service lines, to robotic process automation in manufacturing facilities.
• Your smartphone uses AI to tell you what time you need to leave to arrive on time for an appointment by combining data you saved in your calendar and the real-time GPS location of your phone.
• The AI market is expected to grow from US$8 billion in 2016 to more than US$46 billion in 2020, according to a report last year from market intelligence firm International Data Corporation.

2. Cryptocurrency

Cryptocurrencies are peer-to-peer electronic payment systems that allow individuals to transfer funds online without an intermediary.

• Digital currencies rely on the open source technology and a network of users to complete transactions rather than a record-keeping department.
• A currency's value is determined purely by the market in which it trades, is not regulated by government, and is borderless.
• Bitcoin is the most familiar name in cryptocurrencies.
• Blockchain, the technology behind digital currencies, is an electronic ledger or database of transactions and can allow for the creation of a unique digital signature, which can help safeguard electronic actions.

3. Space Travel

Until earlier this year, most rockets were one-trick ponies. They could only be used for one space flight, burning up on re-entry to Earth's atmosphere. Things are changing.

• At the end of March, tech billionaire Elon Musk's company SpaceX successfully completed the world's first reuse of an orbital class rocket. After completing a mission in spring 2016, the rocket launched for a second mission to deploy a communications satellite and returned to land on an ocean barge.
• The SpaceX team is now aiming to land a rocket and have it ready for reuse within 24 hours.
• Musk's goal s to make the colonization of Mars a reality by bringing the per-person cost of a trip on his envisioned Interplanetary Transport System to roughly US$200,000, in line with the median house price in the U.S.
• Fun fact: Many credit the investment in NASA's Apollo missions for the rise of modern computing because computers were a spin-off technology created to support the space program.

Couple all of this information with the dizzying pace of technological advancement and it's easy to make a case for adding in a regular dose of tech reading to your routine. It may just offer some fuel for your investing decisions.

*This article was updated on October 6.