Technology Trends that will shape the next Decade – TECHVED Consulting

Mumbai, Maharashtra Jan 12, 2022 (Issuewire.com) – Technology is ever-changing and evolving. Especially in the pandemic era, it has shifted gears to the next level. Along with the acclimatizing of the new normal, technology is changing to bring some comfort to that normal.

This article will throw some light on a few technology trends that can shape the future.

Artificial Intelligence: AI is one of the foremost noteworthy buzzes in recent years, but the world continues to be at intervals in the first stages of development with AI. Nowadays, AI is immensely utilized in navigation apps, personal assistant apps, shopping apps, OTT platforms, etc. In the upcoming days, AI will see a lot of relevancies in heterogeneous industries- from travel, healthcare to promoting education. Even at present, some apps monitor patients’ mobility within the hospitals or monitor any drug’s potency on a patient. The AI-enabled chatbots square measure serving the e-commerce trade flourish like anything because of far better client experience. The near future can see improved versions of all of those.

Research shows that the AI market can grow to a $190 billion trade by 2025, and the AI systems can reach over $57 billion in 2022.

 

Automation: 

Robotic Process Automation (RPA)~ RPA is automating repetitive tasks like process transactions, data dealing, deciphering applications, and, in some cases, replying to emails. Prediction says that half of the manual work will be turning into automated ones within the returning decades and will ease several business processes. Human resources will pay their most of the time in resolving complex issues.

According to McKinsey’s research, less than 5% of occupations can be fully automated, while 60% can be partially automated.

 

Intelligent Automation (IA)~ Intelligent Automation that is also known as Cognitive Automation, is defined by IBM as “the use of automation technologies -artificial intelligence (AI), business process management (BPM), and robotic process automation (RPA) – to streamline and scale decision-making across organizations. Intelligent automation simplifies processes, frees up resources, and improves operational efficiencies.” 

 

It can be utilized in varied industries; automotive manufacturers may use it to speed up production or reduce human error. Automobile industries may also use this technology in automated vehicles (AV). As a marvelous example of IA, the game-changing technology creator CES’s (Consumer Technology Association) AI-integrated robot kitchen for the Korean food-tech company Beyond Honeycomb can be taken. 

By this app in 2022, the Korean giant will virtually bring the authentic experience from Koria to Los Angeles. The introduced portable kitchen application at the site of LA will reproduce the indistinguishable taste and surface of the food prepared by genuine culinary specialists back in South Korea. The steps include providing and demonstrating the recipe and the cooking system, learning the real chef’s skills, and finally reproducing the food. The food sensor will scan and digitize the texture and taste of the real-time cooked food.

CES 2022, unitedly with Qualcomm, is close to bringing some revolutionary innovation within the field of Av. So, it can be said 2022 will be a significant year in propellant innovation with IA.

 

Internet of Things (IoT): Knowingly or unknowingly, nowadays, IoT is used daily. It can lock home doors remotely or preheat the oven with the help of an app, track fitness on the Fitbit app, and many more. Not only in-home use, but IoT has also proved to be beneficial in business. It can increase the efficiency of any business, provide a better customer experience and offer benefits, help in decision making, and speed up medical care. 

Research shows that the global spending on the Internet of Things (IoT) is about to reach 1.1 trillion U.S. dollars in 2022. By 2030 nearly 50 billion IoT devices will be used globally and will increase interconnected devices ranging from kitchen appliances to smartphones. New technologies like 5G are expected to drive market growth in the recent future.

 

Metaverse: 

Metaverse has been a hot topic in recent years, and the buzz has been hyped even more with Facebook changing its name as meta. In 1992, author Neal Stephenson first used the word ‘metaverse’ in his sci-fi novel “Snow Crash,” where lifelike avatars met in 3-D buildings and other virtual reality environments. But it’s questionable if the ‘metaverse’ is worthy of being over-hyped. It has already made its place in the gaming industry. Online games like Fortnite, Roblox, and Minecraft are evolutionary to create with metaverse. Even though not vastly used in the mainstream, metaverse’s potential is undeniable. Meta (formerly known as Facebook) CEO Mark Zuckerberg estimates that within five to ten years, the key features of the metaverse would become mainstream. But even now, Ultra-fast broadband, virtual reality headsets, and persistent always-on online worlds are already using metaverse as their crucial technology that may not be accessible to all yet.

 

Metaverse is nothing but a digital universe where users can live. It’s a combination of virtual and augmented reality and video. Users can stay connected with friends through virtual concerts to world tours. They can play a game together or can attend a conference virtually. Apart from this, there are several examples of using this technology. The U.S. army is presently collaborating with Microsoft on an AR Hololens2 to train soldiers. It’ll also be capable of rehearsing a fight and fighting.

Another example can be Fortnite’s collaboration with Balenciaga on outfits for their users and their respective avatars.

 

Edge Computing: 

Edge computing is a distributed technology architecture that deals with data locally at the network’s periphery instead of a centralized location. Major players like Microsoft Azure, AWS of Amazon, or Google Cloud platforms have dominated cloud computing in past years. So, it’s safe to say that cloud computing is a growing field, but it’s no longer an emerging technology trend.

Data is the lifeblood for any business; it is critical to real-control today’s ocean size data where cloud computing is slightly lagging. Edge computing fills that gap by processing time-sensitive data in remote locations with or without being connected to the centralized location.

According to research, by the end of 2022, the edge computing market may reach up to $6.72 billion globally.

 

Blockchain: Blockchain’s simplified meaning would be creating a chain of data where a user can only add but not take away. The previously input data can’t be changed, making the process ultra-secure. Due to this, cryptocurrency like Bitcoin uses this technology. In addition to this, no single entity can take control of data in a blockchain. Blockchain is so secure that it eradicates the necessity of using third-party to intervene in the verification process or validate transactions. 

 

Final Words: 

The technologies mentioned above are a few examples of the ever-revolutionizing technology world. In this fast-paced world, technologies evolve in every small sector, calling for significant changes soon. For instance, Bio-Revolution is one of the advancing areas for intense research. Influenced by AI, automation, and DNA sequencing, it envisions the development of gene-therapies, hyper-personalized medicines, and genetics-based guidance on food and exercise. On the other hand, renewable energy, energy-efficient building or transport, sustainable water consumption, etc., are becoming the new cleantech trend due to the increasing environmental threat. So, before adopting any recent tech trends, it’s essential to analyze the impact and then move further.

 

Written by:

Jay Anthony,

Marketing Head, TECHVED Consulting