We will make more technological advancements in the next decade than in the preceding 100 years combined. Furthermore, ten technological trends will dominate this shifting landscape. Understanding the effects of this change can help individuals and organizations avoid unpleasant systemic shocks. Businesses that take advantage of technological advancements also benefit from a higher rate of return on their investments.
The technology sector has permanently moved at a breakneck pace. A decade’s worth of growth in e-commerce may have been compressed into just three months in late 2019, implying that the next decade will see more technological advancement than the preceding 100 years combined.
Any change can be unsettling but keeping up with current events can be especially so. A portion of the challenge is determining which changes are the most significant and which are less likely to bear fruit.
These are the top ten technologies vying for investors’ and technologists’ attention and funding. Additionally, they are the most likely to play a significant role in the changing face of the modern workplace. Understanding the impact of these technological trends on organizations and the people whose jobs will be impacted is critical for avoiding the worst consequences of the disruption that may ensue.
Cyberattacks, email phishing, crypto scams, and ransomware are on the rise, forcing cybersecurity firms to look for technological solutions to address the vulnerabilities. Individuals’ accounts, countries’ critical infrastructure, and businesses of all sizes are being hacked, resulting in millions of dollars in losses.
In response to the COVID-19 virus, workplace digitization and remote working made it critical to retrain employees on online safety to prevent data breaches and losses.
Additionally, many companies are adopting and implementing new cybersecurity technologies, such as artificial intelligence (AI), monitoring and protecting networks against hackers in real-time rather than reacting to a threat after it has already occurred. Additionally, cloud storage providers provide end-to-end encryption for online data storage and transfer.
Virtualization and Robotic Processes Automation
Around half of all current work, activities could be automated over the next few decades as advanced robotic process automation and virtualization are becoming more prevalent.
By 2025, the Industrial Internet of Things will connect more than 50 billion devices (IIoT). Robots, automation, and 3D printing, among other technologies, will generate approximately 79.4 zettabytes of data each year.
Adoption of 5G technology
According to Ericsson’s Mobility Report, which Statista Research published, subscriptions to 5G technology will exceed one billion this year.
While 4G made significant advancements, such as seamless video streaming, 5G is 100 times faster, which means that uploads, download files, data transfers, and streams will be significantly faster.
5G will bolster the Internet of Things (IoT), a network of internet-connected smart devices that connect and communicate. Unlike 4G, many devices can connect to the 5G network without experiencing significant performance, latency, or reliability degradation. This is due to the network-slicing feature, which establishes independent networks with customized devices’ services.
Additionally, whereas 4G mobile networks struggle to maintain connectivity in densely populated areas, 5G can transmit radio waves to one million devices per square kilometer.
The Next-generation computing
Next-generation computing will aid in the resolution of long-standing problems in science and society, enabling businesses to operate at previously unimagined levels of capability”.
It encompasses a range of far-reaching advancements, from quantum computing to fully autonomous vehicles, and as such will not be a priority for all organizations immediately. Preparing for next-generation computing requires determining whether your business operates in a first-wave industry (such as finance, travel, logistics, global energy, and materials, or advanced industries) or whether it relies on trade secrets and other sensitive data that must be protected during the transition from current to quantum cryptography.
Internet of Behaviors (IoB)
Service providers collect a great deal of customer data via IoT devices. Businesses utilize analytics and big data techniques to ascertain the value of data in what has been dubbed the Internet of Behaviors (IoB).
Businesses can personalize their services, promote their products, and enhance a customer’s experience with the company by reviewing this customer information.
While personalized solutions are critical, businesses must convince users to share personal data to develop them.
Customers are also uneasy about risking their privacy in exchange for valuable services due to website hacking and other cybersecurity challenges. A new data collection method will be critical for businesses’ data analysis requirements.
There is a convergence of biological science advances like Optometry EMR that has the potential to have a significant impact on economies and our lives, affecting industries ranging from health and agricultural production to consumer goods, energy, and materials.
The bio revolution, fueled by artificial intelligence, automation, and DNA sequencing, promises the development of gene therapies, hyper-personalized medicines, and nutrition and exercise guidance based on genetics. These technological advancements will create new markets, but they will also raise significant ethical concerns. Organizations must assess their Qb, or biological quotient, which indicates their understanding of biological science and its implications. They should then prioritize the resources they need to devote to biological technologies and capabilities, determining whether to integrate them into their existing research and development efforts or partner with science-based start-ups.
The rebranding of Facebook as Meta focused attention on the metaverse, described as the next progression in social connectivity.
The metaverse is a three-dimensional virtual world into which people can log as avatars to socialize, work, shop, collaborate, and play games.
Businesses invest in novel technologies, such as virtual reality (VR) and augmented reality, to bring the metaverse to life (AR). For instance, virtual reality headsets enable users to explore and immerse themselves in digital worlds while sharing their experiences.
According to MetaMetrics Solutions, Metaverse property sales reached $501 million last year and surpassed $85 million this year. Thanks to blockchain technology, individuals can now own these virtual assets and even make in-game purchases.
Materials science advances have the potential to transform a wide variety of industries, including pharmaceuticals, energy, transportation, health, semiconductors, and manufacturing. Graphene is one of these materials; it is a thin piece of carbon atoms set up in a hexagonal lattice configuration that is approximately 200 times stronger than steel despite its incredible thinness. Additionally, it is a highly efficient conductor that has the potential to revolutionize semiconductor performance. Another is molybdenum disulfide, which is already used in nanoparticle form in flexible electronics.
By altering the economics of a broad array of goods and services, upcoming materials with considerably higher efficiency in a variety of as-yet-untapped application areas have the potential to alter industry economics and reorganize businesses within them.
Following years of uncertainty, blockchain technology is now attempting to establish itself as a viable solution to various technological problems.
Blockchain is a decentralized distributed ledger that underpins cryptocurrencies, digital payment technologies, encryption, and blockchain gaming. Content creators’ use of non-fungible tokens (NFTs)–blockchain data units that are not interchangeable–to successfully develop work, sell it online, and earn cryptocurrencies is becoming more popular.
The ledger feature of blockchain enables the technology to store medical data and other personal records, enforce copyright protection, identify title deed owners, track transactions online, trade on NFT marketplaces, and monitor supply chains.
Due to the COVID-19 safety guidelines, office workers were prohibited from returning to work. Thus, businesses shifted to remote working, re-creating office settings, employee engagement, and workflows through collaborative technologies.
Businesses that create collaborative tools redesigned their services to meet the different and novel demand for put publicly workspaces.
Google Workspace and Microsoft Teams are the most widely used collaborative technologies. Both companies provide
- proprietary project management applications and third-party integrations,
- messaging applications,
- digital asset management
- voice calling, and
- video conference tools for their digital workspaces.
Collaborative technologies’ primary benefits are document synchronization and real-time employee communication, ensuring that work is completed efficiently.
The COVID-19 pandemic has significantly affected technological advancements in the last two years. People have developed a greater awareness of the importance of improving healthcare and treatment access, expanding e-commerce and digital payments, and boosting online security. Additionally, environmental protection and promotion of sustainable technologies bode well for the planet’s future.
Educational and cooperative technologies will continue to transform the way we learn and work, and AI may assist in determining the best course of action. Simultaneously, we must balance innovation and regulation to safeguard privacy and security.