Technology is evolving at the speed of light, and we can expect that the next few years will see a lot of technological disruption that will completely transform the world as we know it today. As we stand at the cusp of the fourth industrial revolution, we are seeing the convergence and interaction between multiple technology trends at the same time; and this is what makes the future so exciting!
Here, we talk about the top 10 tech trends that will reshape and redefine our lives.
By the time we write this, the Internet of Things (IoT) is already an old story; but it is expected to evolve further and completely revolutionise the ways in which we gather and transmit data. The whole world will be connected, and with increasing numbers of intelligent, connected devices and objects, our lives will be made simpler and far easier through technology. Anything that can be connected, will be—right from devices and products, to the spaces in which we live and work. Workplaces and homes will be connected and smart, and the spaces around us will have the ability to monitor what’s going on and send us notifications and suggestions.
Computers will be everywhere! From smartphones to wrist watches, glasses and tablets, laptops, automobiles, workspaces, factories and even kitchens, computers can be used in myriad ways to improve our lives. In the years to come, processing power will increase manifold, and the size of computer microchips will shrink, making computers and devices much smaller, lighter, cheaper, and more powerful. Quantum computers can be used to complete tasks that were previously considered impossible.
Ubiquitous computing and the IoT contribute to the huge volumes of data that are generated, day in and day out. Datafication aims to transform every aspect of a business into measurable data that can be tracked, monitored, and analysed. Every single activity that we undertake through our daily activities generates data, and this is only increasing by the day. Businesses will be able to harness this data to inform their decision-making and design better products and services. They can streamline and improve business processes, and even generate new sources of revenue. Data, however, also poses many risks in the form of possible breaches of data privacy and security.
AI, or artificial intelligence, directly co-relates to the humongous quantities of data generated every day, and creates intelligent capabilities out of the insights from the data. AI has made incredible leaps in the last few years, particularly when it comes to healthcare, robotics, defence and many other critical sectors. As our interactions with machines become increasingly intelligent, every product and service might feature advanced AI capabilities.
XR includes all immersive technologies, such as virtual reality, augmented reality, and mixed reality. Primarily developed for the gaming industry, XR is today deployed across a wide range of industries and sectors, and can be used to create personalized and interactive experiences for customers and employees. For instance, customers who wish to purchase real estate in other parts of the country can visit the property in the online world, taking AR tours that place them in the middle of the site and allowing them to navigate their way around. Nursing students can undertake virtual simulations that help them to practice processes such as IV cannulation in a simulated clinic.
The metaverse blurs the space between the real world and the digital one, and XR is only going to accelerate this shift. Once it advances and improves, the Metaverse will be as impactful as the Internet once was. Organizations that don’t adapt to the Metaverse will find themselves outpaced by the competition, and will find that they must get on board to accommodate this revolutionary platform.
While most of us think that blockchain refers to cryptocurrency, it is actually just one application of a much larger application, called digital trust. This is essentially the confidence that users place in organizations to build a secure and safe digital world, where online interactions and transactions of exchanging value can take place safely, securely, and easily. Blockchain and distributed ledger technology is set to play a pivotal role in raising digital trust and making interactions more secure, in the years to come. Business will seek to partner with the new innovators and entrepreneurs who are pioneering in the blockchain space.
Much like machine learning and AI, RPA or Robotic Process Automation is another emerging technology that will take forefront, automating many jobs. It involves the use of software to automate routine business processes that do not require critical thinking skills, such as processing technologies, interpreting applications, manipulating data, manufacturing, and to some extent answering texts and emails. While this trend will make many jobs redundant, it will also create a great many new jobs, such as RPA developers, analysts, and architects.
In today’s fast-paced world, where speed is a critical consideration for most organizations, any time lag can affect how online operations are managed. Edge computing is all about creating efficient and responsive computers so data can be analysed as quickly as possible. It brings computer processes and data storage closer to organizations, thus effectively reducing response times and minimising the amount of bandwidth used. As latency is reduced, speeds will dramatically increase. As an example, self-driving cars need faster computer processes because every fraction of a second the vehicle is moving can be very critical. If there is a sudden need to brake, accelerated processing speed can make it happen instantly to keep the passengers safe.
Materials science, which studies and manipulates materials, and nanotechnology, which is the science of controlling matter on the atomic and molecular level are already making incredible advances and this will only continue. Some examples are computer chips, smartphone displays, lithium-ion batteries, stain-resistant fabrics, and so on. This trend can also make huge leaps in energy conservation and help to make our lives easier and more enjoyable.
While nuclear fusion was once considered to be the cleanest renewable energy solution for the future, it was found that maintaining a fusion reaction takes more energy than it produces, and there are many dangers of nuclear fallouts associated with nuclear reactors. In the next decade or so, advances in magnet technology will make it soon possible for us to see a nuclear fusion reactor deliver a net power output.
Green hydrogen is another exciting zero-carbon energy solution that splits water into hydrogen and water through a process of electrolysis. It will use renewable electricity sources and does not create harmful by-products.
As multiple tech trends combine and feed into each other to deliver huge changes in our lives, we are bound to see new advancements every day that make the world a better, safer place for us all. The future lies in change.
At MWT Technologies, we are leveraging these advancements in technology to offer new-age products and services to our customers across the world. Our experts will find sustainable, innovative tech-based solutions for all your business challenges, helping you meet and exceed your goals quickly and effectively.