We’ll experience more technological progress in the coming decade than we did in the preceding 100 years put together.
Tech trends will dominate this shifting landscape in “modern business” era.
Understanding the effects of this change can help avoid nasty shocks to the system, for both individuals and organizations.
Businesses that are making the most of advances in tech are also in a good place to make the most in terms of return on their investments.
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),”.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.
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 defences.
Next-generation computing will, McKinsey believes, “help find answers to problems that have bedevilled science and society for years, unlocking unprecedented capabilities for businesses”.
It includes a host of far-reaching developments, from quantum AI to fully autonomous vehicles, and as such won’t be an immediate concern for all organizations. “Preparing for next-generation computing requires identifying whether you’re in a first-wave industry such as finance, travel, logistics, global energy and materials, and advanced industries.
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.
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.”
Developments in materials science have the potential to transform multiple market sectors, including pharma, energy, transportation, health, semiconductors and manufacturing.
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.