Technology has always been a common interest for many people across the globe. It crosses physical and cultural barriers to create common interests or goals among individuals and groups. Technology is always changing and will only continue to evolve in the future. The constant evolution of technology has created some impressive economic effects in recent years. S&P 500 technology sector has seen a 41% gain for the year, and this number is only expected to grow in the future. Despite the tariff war between China and the United States, technology stocks are still expected to rise in the near future. Some of the areas in which technology will grow are car innovations (smart cars, virtual and augmented reality, and healthcare).
The technology in smart cars has been experiencing a great deal of improvements in recent years. Companies like General Motors, Mercedes-Benz, Audi, and others are working on effectively creating self-driving cars. The technology used in these cars is far more advanced than anything ever used in cars before. This usage of new technology will help technology-based companies like Ambarella, which supplies camera chips and grow other technology stocks.
The world of virtual reality is also opening new doors in the world of technology and business. One of the most common ways virtual reality is viewed in action is through a virtual reality headset. These headsets feature giant goggles with a screen in front of a user's eyes. When a user puts the goggles on and syncs the goggles to a gaming counsel, laptop, or smartphone a stereoscopic 3D image is created by angling the two 2D images. Virtual reality is soon expected to play a large role in marketing a variety of products and services, which will again play a role in growing the technology sector.
New technology is also reinventing the traditional hospital. The new Stanford Hospital features a robotic pharmacy, tracking for staff and equipment, and remote monitoring of patients. These new features will allow doctors and nurses to check in on patients without having to go to their room. These technologies work to increase a patient’s comfort and health while increasing labor productivity.
Although technology is for a wide variety of inventions, it has one main purpose: to enhance the quality of life. With constant improvements to inventions and technologies, the market for technology and human quality of life will only continue to grow.