Top Technology Trends shaping the coming Decade

Technological change has always been rapid. The challenge for entrepreneurs is to know which trends are significant and which will bear less fruit. Technology reshapes health and materials sciences, energy, transportation, and a wide range of other industries and domains.  

WHICH TECHNOLOGY TRENDS MATTER THE MOST?

According to research, there are ten cutting-edge technologies that are attracting the attention and funding of investors and technologists. Understanding the impact of these technology trends on organizations and the people whose jobs will be affected is key to avoiding any negative disruption effects from technology transitions.

Automation and Virtualization

  Half of all existing work activities could be automated in the coming decade as next-level process automation and virtualization become 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 79.4 zettabytes of data per year.

The Future of Connectivity

Faster digital connections powered by 5G and the Internet of Things (IoT) have the potential to unlock economic potential. So much so that the implementation of faster connections in "mobility, healthcare, manufacturing and retail could increase global GDP by up to $2 trillion by 2030." 5G and IoT will be one of the most watched technology trends of the next decade. "Much greater availability and network capabilities will lead to far-reaching shifts in the business environment, from the digitization of manufacturing (via wireless control of mobile tools, machines and robots) to decentralized energy supply and remote patient monitoring."

Distributed Infrastructure

Seventy percent of companies use hybrid cloud or multicloud platforms as part of their distributed IT infrastructure. This means that data and processing can be handled in the cloud, but made available to the device faster. "This technology trend will help companies increase their speed and agility, reduce complexity, save costs and strengthen their cyber defenses."

Next-Generation Computing

Next-generation computing "will help find answers to problems that have bedeviled science and society for years, and unlock unprecedented opportunities for businesses." It covers a range of far-reaching developments, from quantum artificial intelligence to fully autonomous vehicles, and as such will not be of immediate interest to all organisations. "Preparing for next-generation computing requires determining whether you are in a first-wave industry such as finance, travel, logistics, global energy and materials, and advanced industries, or whether your business depends on trade secrets and other data that must be protected during the transition from current to quantum cryptography.

Applied Artificial Intelligence 

AI is one of the biggest technology trends. Of course, we are still in the early days of development, but as AI becomes more sophisticated, it will be used to further develop technological tools such as training machines to recognize patterns and then act on what it finds. . McKinsey predicts that by 2024, AI-generated speech will account for more than 50% of human interactions with computers. While companies are still looking for ways to use AI effectively, "any company can get good value from AI if it's applied effectively and in a repeatable way."

Future of Programming

Get ready for Software 2.0, where neural networks and machine learning write code and create new software. “This technology trend enables the rapid scaling and proliferation of new applications that are data-rich and use artificial intelligence,” says McKinsey. In part, this could see the creation of software applications far more powerful and capable than anything available today. However, it will also enable standardization and automation of existing software and coding processes.

Trust Architecture

IT Governance reports 1,243 security incidents in 2021 that accounted for more than 5.1 billion compromised records – an 11% increase compared to 2020. Despite advances in cybersecurity, criminals continue to redouble their efforts. As a growing technology trend, trust architectures will help in the fight against cybercrime. "Furthermore, an architecture of trust reduces the risk of security breaches, lowers the cost of security compliance, lowers operational and capital expenditures associated with cybersecurity, and enables more cost-effective transactions, such as between buyers and sellers."

Bio Revolution

There is a "confluence of advances in life science" that "promises to have a significant impact on economies and our lives, impacting industries from health and agriculture to consumer goods, energy and materials." Driven by artificial intelligence, automation and DNA sequencing, the biorevolution promises the development of gene therapies, hyper-personalised medicine and genetic advice on food and exercise. These technological trends will create new markets, but they will also raise important ethical questions. “Organisations need to assess their biological quotient (BQ) – the extent to which they understand biological science and its implications. They should then clarify the resources they need to allocate to biotech and whether to integrate it into their existing R&D or collaborate with science-based start-ups.

Next-Generation Materials

Developments in materials science have the potential to transform a number of market sectors. Among such materials is graphene – a single layer of carbon atoms arranged in a lattice honeycomb configuration that, despite its incredible thinness, is about 200 times stronger than steel. It is also an efficient conductor and promises to revolutionize semiconductor performance. Another is molybdenum sulfide—nanoparticles already used in flexible electronics. "By changing the economics of a wide range of products and services, next-generation materials with significantly higher efficiencies in many previously untouched application areas can change the economics of industries and reconfigure societies within them."

Future of Cleantech Trends

Renewable energy, cleaner transport, energy efficient buildings and sustainable water consumption are at the core of clean technology trends. As the costs associated with clean technologies fall, their use expands and their disruption is felt by a growing number of industries. "Companies must keep pace with emerging business-building opportunities by designing operational improvement programs related to technology development, procurement, manufacturing and cost reduction."