As the advancement of technology moves at such a fast pace, the way that we communicate, work, create businesses, and even how we see ourselves are changing very rapidly. The technological advances which formerly seemed to be ‘futuristic,’ are now oscillating into being the ‘new norm’, and many more innovations are forthcoming that will really be defining the next decade. This is a watershed year in which many of today’s hottest topics — AI (Artificial Intelligence), Advanced Computing, Digital Infrastructure, etc. — are merging and creating all-new opportunities.
If you are a business owner, a tech developer, a student, or simply someone who wants to know what the world will be like in the near future, being aware of, and having an understanding of these emerging technologies will now be necessary. Here are the most important technologies you will need to become familiar with, and a description of the significance of each of these technologies.
1) Generative Artificial Intelligence (AI)
Generative AI has migrated from just experimental, into a place where it can indeed transform how we produce things. Instead of just analyzing or classifying existing data as all previous generations of AI have done, Generative AI now has the ability to create “something new” from existing data. Generative AI can produce text, images, audio, video, software code, and even product designs.
Generative AI is going to change the manner in which we use traditional AI tools in our lives. Generative AI can now be found within the tools that are part of most companies today. For example, companies are using Generative AI to automate customer service interactions and the creation of marketing copy/materials. They are also using Generative AI to speed up the software development process and provide improved decision-making capabilities. In creative industries like Art, Design, and Media, Generative AI is changing the way we create Art/Design/Media.
This year, accessibility is one of the greatest reasons why generative AI is so poweful. The tools are now much easier to use than they were in the past, and they are becoming integrated into the normal platforms that many people already use at home and work. As a result, there is a greater emphasis on developing generative AI to be responsible (i.e. transparent, reduce bias, and ethically deploy).
In terms of why this is important, generative AI increases an organisation’s productivity, reduces costs, and redefines how humans work with machines across industries.
2. Artificial General Intelligence (AGI) Research
While generative AI is certainly a powerful technology, it is still considered a narrow type of artificial intelligence. AGI is considered to be a system that can understand, learn, and apply knowledge in a variety of different tasks, much like a human being can.
AGI research has picked up momentum in 2022, and current advances in reasoning, memory, autonomy and multimodal learning are allowing AI systems to move toward general intelligence. Although the ultimate goal is still many years away, incremental advances are already improving Artificial Intelligence’s ability to solve complicated problems, plan future actions, and adapt to new situations.
There is an increasing recognition by governments, researchers and organisations of the need to focus on safe and aligned development of AGI, due to the immense potential impact of AGI on society.
Why this is important is that research into AGI is shaping the future of AI capability, governance, and Global competitiveness.
3. Quantum Computing
The transition from theoretical to experimental for quantum computing has begun; Quantum computing differs from that of classical computing in that instead of using bits, Quantum computers use qubits to enable them to perform certain types of calculations thousands of times faster than classical computers.
Progress in quantum hardware stability, error correction techniques, and hybrid quantum/classical computing systems has been made this past year. Industry sectors, including pharmaceuticals, materials science, transportation/logistics, and financial services, are beginning to utilize quantum to maximize molecular simulations, optimize problems, and calculate risk.
While widespread use of Quantum Computers is still several years away, many early adopters are currently establishing themselves ahead of the competition.
Why It Matters: Quantum Computing will open up the ability to solve problems that we currently cannot address, creating new opportunities and advancements for both businesses and science.
4. Extended Reality (XR): Augmented Reality (AR), Virtual Reality (VR) and Mixed Reality (MR)
Extended Reality (XR) is a new technology that unifies Augmented Reality (AR), Virtual Reality (VR) and Mixed Reality (MR) into a single immersive virtual experience. The development of XR has progressed over the course of this past year in that XR technology is now smaller, cheaper and more practical for everyday use.
In education, XR (Extended Reality) creates immersive and experiential learning environments for students. In healthcare, XR provides an avenue for surgical training via simulations and therapy in creating simulated environments for patients suffering from neurological or psychological disorders. XR is also changing how businesses work and collaborate remotely on employee training and development activities; companies are using virtual workspaces for employee onboarding, team meetings and product design. Furthermore, the entertainment and gaming industries continue to innovate in immersive narrative technologies.
As XR hardware improves further and as XR content ecosystems develop more fully, the capability for XR to evolve from a novelty to that of a utility that is used on a daily basis has already started to develop.
Why it matters: XR is redefining humans’ ability to interact with both digital data and with one another.
5. IOT (Internet of Things) And Smart Infrastructure
The IOT continues to expand as it connects billions of physical devices across the globe. This year there is increased emphasis on creating smarter, safer and more energy efficient systems.
Smart City developments take advantage of IOT sensor systems to improve the optimization of the flow of vehicles on the road, decrease energy consumption and increase safety of the public. The advent of Industrial IOT provides industrial players with predictive maintenance as well as real-time monitoring and optimization of equipment in the manufacturing sector. Home IoT has made devices within the home more interoperable and also focuses on the privacy requirements of homeowners.
The integration of Artificial Intelligence (AI) with the IOT (the term for this is often termed the AIO) is creating systems that do not simply collect data but are also able to actively learn and adapt.
6. Blockchain Technology’s Use Cases Extending Beyond Cryptocurrency
Over the past few years, blockchain technology has gained traction in a number of industries outside of its initial offerings as a currency (cryptocurrency). Industries such as real estate, banking, and healthcare have started utilising blockchain technology to help create real-world applications.
The Decentralised Finance Market (DeFi) continues to develop as industries look for ways to streamline the process of owning and exchanging digital assets. Additionally, many of these industries are using blockchain for supply chain transparency, secure sharing of sensitive information, and asset protection via digital identity and ownership tracking.
On the other hand, there has been an increase in the interest surrounding tokenising real-world assets (like your home, art or stocks) into tokens that can be stored, accessed and transferred on the blockchain without losing the true ownership of the asset.
Why this is Important/What Blockchain Provides: In the current digital environment, blockchain solutions provide improved security, consensus, and trust for users.
7. Artificial Intelligence (AI), Biotechnology, and Healthcare
Biotechnology is experiencing explosive growth through the use of artificial intelligence (AI) tools for drug discovery through accelerated timeframes. As a result, we are now able to move from a timeframe of years to a timeframe of months for creating new drugs to treat illnesses. AI is also helping healthcare practitioners to create treatment plans that consider an individual’s specific genetic and/or health profiles, leading to
The emergence of gene editing technology, such as CRISPR, provides an opportunity to cure previously untreatable diseases. Furthermore, the rise of remote health monitoring and wearable health technology has made it easier for healthcare providers to reach more patients and also offers the potential to reduce healthcare expenses.
The integration of biotechnology, AI, and biology into the prevention, detection, and treatment of illnesses has caused a great deal of change in the way we approach the diagnosis and treatment of illnesses as well as in managing the effects associated with them.
8. Green Tech and Sustainable Innovation
Green technology used to be a “nice to have” but is now a growing priority due to increasing climate concerns. There are numerous advances occurring this year with respect to renewable energy technology, energy storage technology, and carbon capture technology.
Advancements in battery technology are allowing electric vehicles to become more efficient and affordable. AI-powered smart grids continue to advance the distribution of energy. Additionally, many companies now have digital measurement tools to track and manage their environmental footprint.
Companies are beginning to recognize sustainability as not only an ethical responsibility but as a competitive advantage.
Why Green Tech Matters: Green tech is imperative to help reverse climate change and create a sustainable future through technology.
9. Edge Computing
Edge computing is a design pattern that allows companies and people to process data closer to the source of data generation, also known as the edge of the network.
Edge computing helps reduce latency, provide improved data reliability, and offer enhanced privacy of data. As a result, there are many applications for edge computing—including autonomous vehicles, smart factories, healthcare monitoring, augmented/virtual realities—that require near-real-time processing capabilities.
The growth of 5G networks will continue to support increased growth in edge computing in 2020 and beyond.
Why Edge Computing Matters: Edge computing provides faster, more intelligent, and more secure digital solutions.
10. Cybersecurity Supported through Artificial Intelligence
As our world continues to advance technologically, there are also an increasing number of cyber threats. Cybersecurity this year is benefitting from the rapid rise of AI and machine learning.
AI-enabled solutions provide tools that allow for anomaly detection, attack prediction, and instantaneous response capabilities. Concurrently, as we move toward a more remote workforce and cloud adoption; the concept of “Zero Trust” architectures; increases on demand for Identity Management solutions; cybersecurity will no longer just be an afterthought, but a growing business priority.
The ability to digitally verify and maintain Security and Trust are the foundation of the Digital Economy:
Takeaways
Emerging Technologies in this year impact each other and are not solely trends. Biotechnology is made possible via AI; IoT data optimizations are made possible through the improvements offered by Edge Technology; Blockchain builds and sustains digital trust and Green Technologies will be further enhanced through Data-Driven Optimizations; together these technologies provide for an increase in Intelligence, Immersion, and Interconnectivity.
The importance of staying abreast on these emerging technologies is not simply about being on trend, but rather positioning yourself or your company to take advantage of what is coming down the pike; the future has already been created and is coming together now.
