Blockchain
Many of us only think about blockchain technology in terms of cryptocurrencies such as Ethereum and Bitcoin. However, blockchain technology offers many types of security that are beneficial in other areas.
Blockchain is data that only can be added to and cannot be taken from or changed. Because the digital data cannot be changed, it makes it extremely secure. Also, blockchain sotware is driven by consensus so no one person or organization controls the data. Blockchain means there isn’t a third-party gatekeeper keeping control of the transactions or the total software.
Adoption of Blockchain Businesses Models and Services
Blockchain will also create new business models that have not been thought about. With increased ownership over new digital world organizations, products and services can be created and sold in unique ways.
Blockchain is one of the technology trends that is ever-expanding into digital use cases from finance to healthcare to beyond. This is an emerging technology in the digital world.
AI
Artificial intelligence (AI) will grow by leaps and bounds in the next few years. Recently, the idea of AI technology has advanced as researchers and data scientists have found more innovative ways to use the tech trend.
We think one area that will expand rapidly for Artificial Intelligence (AI) is for consumers. A great example of this is the Teak Smart Cube – an AI driven power adapter designed to help users save on energy bills. The teak outlet is a breakthrough technology trends that is utilizing versatile hardware and smart software to turn the energy consumers of today into conservers of tomorrow. With AI and a clever hardware design, it will make your home smarter, energy bill smaller, and the planet greener. A growing worry of AI replacing human jobs will increase in the next decade. Human beings will need to resort to what we do best with emotions and creativity. This will be the decade of robot and human interaction and collaboration. Both a decade of fear and promise for the human generation.
Machine Learning
A major contributor to the development of machine learning technology is the advancement of chip design and access to data. Computing power has grown enormously. Data has become the new business currency. Trends say the future of many industries is connected with data and access to data. Smart sensors build data, as machine learning algorithms utilize it to learn like a human would. The development of data is not cheap, though. That is why the internet of things can help aid in the access of data. How can these new analytics boost our understanding of the world and business? This trend and other technologies all weave together in this day and age.
Machine learning and Artificial intelligence are technology trends that will not go away anytime soon.
Cloud Computing
Cloud computing trends will only get bigger in the coming years as more organizations large and small put their data in the cloud and stop relying on local servers. We can expect a large transition to cloud computing in the next five years in many organizations, businesses, and industries.
There also will be more advances in alternatives to cloud computing, including edge computing (which we detail on this list) and fog computing. Fog computing bypasses the challenges with cloud computing technology not being able to process massive amounts of data in a short time.
Fog computing moves every function the network’s edge so speeds are much faster. Cloud computing, and third-party cloud computing, is one of the technology trends carried on from the last six years,
Robotic Process Automation (RPA)
RPA, like machine learning and AI, is another emerging top technology trend that will automate many jobs. RPA involves the use of software to automate routine business processes including processing technologies, interpreting applications, manipulating data, and even answering texts and emails. RPA technology will essentially automate common tasks that people once did by hand.
3D Printing
Advanced 3d printing is another item within this realm of emerging technologies, 3d printing poses the question: can you manufacture without the heavy manufacturing processes normally required? Robotic process automation in 3d printing technology might make manufacturing things as simple as asking a machine for a part. Many of the global trends have a trend within a trend, making it important for the business world to adopt these top trends.
Some sources estimate that the emerging technology robotic process automation will threaten the jobs of more than 200 million people and up to 9% of the workforce around the globe. RPA, however, also will create new technology jobs, and it is believed that most jobs can only be partially automated, not entirely replaced.
Tech professionals who want to learn the ins and outs of RPA will find jobs as RPA developers, analysts, and architects. Robotic process automation is a massive upcoming part of future technology trends.
5G
No list of emerging top technology trends is ever complete without talking about 5G. This is the new generation standard in mobile comms that offers faster speeds and reduced latency. This is great news because so many of us use our phones all the time to live our busy lives.
Of course, 5G networks have been developed for many years. But now, with current technologies, the networks are starting to go online and 5G is offering much faster speeds on mobile devices and Internet connections are more reliable. The smart 5G networks are going to expand the internet of things.
IoT Devices
With so much more wireless bandwidth available, it’s possible for more IoT devices to connect with each other. There also will be more possibilities in the future for self-driving vehicles and even smart cities. All of these things will be made possible by much faster wireless data transfers with 5G networks. With the role-out of 5G around the country, 5G technology takes a place as one of the top technology trends of 2022.
Expansion Of The Metaverse
We have been reading a great deal about the software development of the Metaverse and what the new Facebook initiative could look like in a few years. While it isn’t yet possible to live in the Metaverse, we think in five years, it will possible to fully immerse yourself there.
Right now, the Metaverse is where the World Wide Web was in the mid-90s. Many people believe once it advances and improves, the Metaverse will have a revolutionary digital impact on us like the Internet did. It’s expected this will forever change how we socialize, work, and live, and organizations that don’t adapt to the Metaverse will be wiped out.
Virtual and Augmented Realiy
Augmented reality and virtual reality are two sides of the metaverse. Augmented reality could increase advertising space in the real world with new special glasses. Virtual reality would in itself create a whole new digital area for advertising. The technology still has some catching up to do until it could be considered one of the rapidly emerging technologies.
Edge Computing
One of the major concerns for many organizations today is the lag that can affect trends in in how operations are managed. That is why many industries are concentrating on how efficient and responsive computers are so data can be analyzed as quickly as possible. This is where edge computing comes into the picture.
Edge computing brings computer processes and data storage technology closer to organizations and reduces response times and lowers the amount of bandwidth used.
Some advantages of edge technology that we will see in the future trends are:
- Boosts cybersecurity to a new level by reducing problems with privacy regulations, local compliance, and the sovereignty of data. While many think that edge computing makes the possibility of cyberattacks more likely, the truth is that it reduces the impact on the organization if an attack occurs.
- Computer speed will increase dramatically with edge computing as it reduces latency. For instance, self-driving cars need faster computer processes because every fraction of a second the vehicle is moving is critical. Data analysis is limited to the edge, so processing speeds can be massively accelerated.
- Reduces the cost of keeping the data by categorizing it according to a management point of view. Data can be kept on locations on the edge so it reduces the cost of bandwidth.
How can your companies use edge computing? How can the adoption to this new technology created global strategic innovations of the decade? Greater growth in data and analytics for industries following these new technologies is certain.
The pace of change in the technology sector has always been brisk. As much as 10 years worth of growth in e-commerce may have been compressed into just three months in late 2019, according to McKinsey & Company, which predicts that we’ll experience more technological progress in the coming decade than we did in the preceding 100 years put together.
Any change can be unsettling and keeping pace with developments even more so. Part of the challenge is knowing which are the most significant changes and which are the ones that are less likely to bear fruit.
Process automation and virtualization
Around half of all existing work activities could be automated in the next few decades, as next-level process automation and virtualization become more commonplace.
“By 2025, more than 50 billion devices will be connected to the Industrial Internet of Things (IIoT),” McKinsey predicts. Robots, automation, 3D-printing, and more will generate around 79.4 zettabytes of data per year.
The future of connectivity
Faster digital connections, powered by 5G and the IoT, have the potential to unlock economic activity. So much so that implementing faster connections in “mobility, healthcare, manufacturing and retail could increase global GDP by $1.2 trillion to $2 trillion by 2030.” 5G and IoT will be one of the most-watched tech trends for the next decade.
“Far-greater network availability and capability will drive broad shifts in the business landscape, from the digitization of manufacturing (through wireless control of mobile tools, machines and robots) to decentralized energy delivery and remote patient monitoring.”
Distributed infrastructure
By 2022, 70% of companies will be using hybrid-cloud or multi-cloud platforms as part of a distributed IT infrastructure. It will mean data and processing can be handled in the cloud but made accessible to devices faster.
“This tech trend will help companies boost their speed and agility, reduce complexity, save costs and strengthen their cybersecurity defenses,” McKinsey says.
Applied Artificial Intelligence (AI)
AI is one of the biggest tech trends. We are still only in the early days of the development of AI. As the technology becomes more sophisticated, it will be applied to further develop tech-based tools, such as training machines to recognize patterns, then act upon what it has detected.
By 2024, AI-generated speech will be behind more than 50% of people’s interactions with computers. Companies are still searching for ways to use AI effectively though, the consultancy says: “While any company can get good value from AI if it’s applied effectively and in a repeatable way, less than one-quarter of respondents report significant bottom-line impact.”
Future of programming
Get ready for Software 2.0, where neural networks and machine learning write code and create new software. “This tech trend makes possible the rapid scaling and diffusion of new data-rich, AI-driven applications,” according to McKinsey.
In part, it could see the creation of software applications far more powerful and capable than anything available today. But it will also make it possible for existing software and coding processes to be standardized and automated.
Bio Revolution
There is a “confluence of advances in biological science” that “promises a significant impact on economies and our lives and will affect industries from health and agriculture to consumer goods, energy and materials.”
Propelled by AI, automation and DNA sequencing, the bio revolution promises the development of gene-therapies, hyper-personalized medicines and genetics-based guidance on food and exercise. These tech trends will create new markets but will also raise some important ethical questions. “Organizations need to assess their bQ or biological quotient – the extent to which they understand biological science and its implications. They should then sort out the resources they need to allocate to biological technologies and capabilities and whether to integrate those into their existing R&D or partner with science-based start-ups,” McKinsey says.
Future of clean tech trends
Renewable energy, cleaner/greener transport, energy-efficient buildings, and sustainable water consumption are at the heart of clean tech trends. As the costs associated with clean-tech fall, their use becomes more widespread and their disruption is felt across a growing number of industries
“Companies must keep pace with emerging business-building opportunities by designing operational-improvement programmes relating to technology development, procurement, manufacturing and cost reduction,” McKinsey believes. “Advancing clean technologies also promises an abundant supply of green energy to sustain exponential technology growth, for instance, in high-power computing.”