The continual change of human lives has brought about a change in the way the software industry behaves and operates. In the mid-’90s the software industry was focusing on designing a system mainly for transaction purpose. After the year 2016, the product business was concentrating on building up a framework, not for mass appropriateness but rather, for giving a customized involvement.

Software product engineering is at a continual development phase. Software 4.0 is taking into account of the “how” of the software business and is redefining the way the businesses connect with their customers.

Software 4.0 has given birth to the new concepts, the concepts the industry had never thought off. Some of the concepts are discussed below:

  • Health Care

People are getting occupied with their ordinary timetable that they give extremely less consideration to their well being. Their well being conditions are corrupting as result of their timetable yet they are helpless. They don’t have that amount of time at their disposal that they can pay a visit to the specialist. The software industry has changed the way people consult a doctor. The humans are equipped with a mobile application where with a tap of a finger they can enter their details and then an AI engine can analyse the data and compare the data with the previous data of the people suffering from the same syndrome. The Artificial Intelligence enabled bot comes with some solutions related to the problems. If the patient is not satisfied, then they can consult the specialist in that section. They can consult the best doctors with a tap of a button, significantly cutting the time and the overhead cost. This concept is changing the face of the Industry and it is the near future for mass applicability.

  • Banking

The banking industry, in general, are facing a lot of issues regarding the Non-Performing assets. That is reducing the profitability and hence affecting their operations. This one of the many issues regarding the banking sector. The overhead cost of the banks is increasing so the banks are moving totally digital, reducing the fixed overheads. Nowadays the banks are born in Clouds and operate from the cloud. They hardly have any physical presence. Yet prove to be safest in their operation. Thanks to Software 4.0 they can analyse the trends and traits of any loan defaulter from their historical data by the help of Artificial Intelligence mechanism and that is helping in reducing the number of non-performing assets.

Banking is an integral part of any individual, but visiting a physical branch by taking out time from their regular activities is a nightmare for them. Software 4.0 is revolutionizing the way people bank. With a tap of the screen, they are connected to the bank and can perform banking transactions. The banks adopting digital banking operations are attracting more customers by providing better customer experience.