Technology is accelerating at a rapid speed. According to entrepreneur and futurist Peter Diamandis, in the next 10 years we will face more progress than we have seen in the past 100 years. Communication networks, sensors, robotics, and Artificial Intelligence (AI) are all rapidly improving and reshaping a wide range of industries. To stay ahead of the curve and achieve new heights, organizations will have to make sure they are making the most of the developing technology trends.
Virtualization and Process Automation
Internet of things (IoT); Robots; Digital Twins; 3-D/4D Printing
It’s expected that up to 50% of today’s routine work processes could be automated by 2025. Robots and self-learning will drive automation of physical activities beyond everyday tasks, leading to fewer people performing these activities. In addition, cutting-edge simulations and 3-D/4-D printing will virtualize processes reducing development cycles and moving strategic and operational practices that strongly correlate with successful digital efforts. These technology trends will undoubtedly lead to a significant reconfiguration of workplaces, and companies will be challenged to rethink the future of work.
5G and Internet of Things (IoT)
5G broadband and the Internet of Things (IoT) will enable faster connectivity across longer distances at an exceptional speed. With 5G set to reach up to 80% of the global population by 2030, advanced speed and coverage will enable new services, business models, and next-generation customer experiences.
Cloud and Edge Computing
Cloud and Edge computing will come together to help companies boost their speed and agility, save costs, reduce complexity and enhance their cybersecurity defenses. Up to 75% of enterprise-generated data will be processed by edge or cloud computing by 2025. It is said that the vast availability of services and IT infrastructure through the Cloud could alter the demand for on-premise IT infrastructure and cut the necessity for IT setup and maintenance. In other words, we are headed towards a shift in importance away from IT abilities to software development skills.
Quantum Computing and Neuromorphic Chips
Next-generation computing will enable further advancement of AI-driven services. For example, high computerized capabilities will allow new utilization of cases such as molecular-level simulation lowering the practical expertise and testing required for various applications and leading to a disruption in many industries. We will also see a rise in highly personalized product developments, the capability to break cryptographic security algorithms, and the faster diffusion of autonomous vehicles.
Advanced Information Processing
Computer Vision; Natural Language Processing; Speech Technology
We will see an increase in machines’ ability to recognize patterns through images, videos, text, and speech and act on those patterns. Digital touchpoints, such as voice assistants will see advanced usability and refined personalization. This technology trend promises to radically increase customer satisfaction through interaction methods and interfaces. The upcoming burst in Artificial Intelligence (AI) applications is set to enhance human-machine interactions and influence the next level of automation. Repetitive labor tasks such as filing, indexing, and document preparation will start to fade.
Biomolecules Biosystems; Bio Machines/Biocomputing/Augmentation
These technology trends reflect the progress in biological science combined with evolutions of computing and Artificial Intelligence, giving rise to cutting-edge innovations. Biotechnology will significantly impact not only economies but also our lives. It will make the high-speed analysis of genetic materials possible and open up promises such as fast vaccine development and customized medicine.
Nanomaterials; Graphene; Molybdenum Disulfide Nanoparticles
With more new materials on the way, the potential of next-generation materials is vast. The next-generation materials will undoubtedly change industries and reconfigure organizations. We can expect to see innovations in materials science, developing innovative materials with programmable properties capable of responding to stimuli from outside factors.
Technology advancements are changing industries, challenging the status quo, and creating new opportunities. Business owners must think through these technology trends and consider how the developing technology will impact their business or industry.
If you need any assistance in considering how to approach new technology implementation, call Millennium Group today: (970) 663-1200