Technology is constantly evolving and growing at a rapid pace, enabling faster change and progress. Emerging technologies are cutting-edge innovations poised to transform our world. As we navigate ethical considerations, security, and adoption, these technologies shape our future and invite exploration of new frontiers. In this blog, we will explore the top 10 emerging technology trends you need to know this year.
Emerging Technologies: Exploring the Future
Technology is transforming the world today. It is developing at a rapid pace, allowing for faster change and progress. The evolution of technology has greatly affected your life. It has changed the ways you spend your time at work, at home, or anywhere else and it has become clear that the future of humanity is digital and inevitable!
Digital transformation is about technology, data, process, and organizational change to create digital businesses as opposed to businesses that are ‘doing digital’. Digital transformation may involve many emerging technologies but the hottest tech trends right now are artificial intelligence, the Internet of Things, edge computing, digital twin, big data.
Emerging technology refers to novel and innovative advancements that are on the cusp of widespread adoption. These technologies have the potential to transform various aspects of our lives, industries, and society.
Emerging technology encompasses new ideas, inventions, and scientific breakthroughs that are not yet fully integrated into mainstream use. These technologies often disrupt existing norms and create new opportunities.
There are several emerging technology trends that will shape the next decade, impacting organizations, individuals, and the way we work and live. These include artificial intelligence (AI), blockchain, 5G networks, quantum computing, edge computing, quantum computing, robotics, virtual reality, etc. These dynamic advancements bring both opportunities and challenges, impacting industries, society, and our daily lives.
Keep your eyes on the future to see what skills you will need to know to secure your jobs tomorrow and keep up to date with developments.
With all this pandemic spreading across the globe, most IT workers around the world are backing down and working from their homes.
If you want to make the most of your time at home, here are the top 10 emerging tech trends to watch and try to achieve this year, and possibly secure one of the jobs that will be created by these emerging technologies.
Top 10 Emerging Technology Trends That will Continue to Rise
Here are the top 10 emerging technology trends to watch and try to master this year.
1. Artificial Intelligence and Machine Learning
Artificial intelligence has become an integral part of our lives, from personalizing and ranking search results to recommending products and understanding and controlling devices to building better models for the environment, automating industries, and many other AI applications.
AI technologies have already received a lot of buzz in the past decade, but they are still on the list of the top 10 emerging technology trends due to their remarkable impact on how we live, work and play in the early stages. AI is now playing an important role in digital transformation.
AI technology is widely used in image labeling, face detection, speech recognition, optical character recognition, smartphone personal assistants, navigation apps, ride-sharing apps, and more.
Otherwise, AI will be used more to analyze interactions to identify key connections and insights, to help predict the demand for services such as hospitals to enable authorities to make better decisions about resource use, discover changing patterns of customer behavior by analyzing near-real-time data, increasing revenue and enhancing personalized experiences.
With the spread of artificial intelligence across sectors, new jobs will be created in the areas of programming, development, testing, support and maintenance with high salaries as well.
Machine learning is an application of artificial intelligence that is also being deployed in all kinds of industries and it may create a huge demand for skilled professionals.
It is estimated that AI, machine learning, and automation will generate 9% of new jobs in the US by 2025, including data scientists, content creators, bot monitoring and automation specialists, making it another new tech trend you should consider too!
Read Here: 5 Examples of Artificial Intelligence Use in Business
2. Robotic Process Automation (RPA)
Like AI and ML, robotic process automation ( RPA) is another technology that automates business processes and jobs.
RPA technology is used to build, deploy, and manage software robots to automate digital tasks and business processes such as interpreting applications, retail order processing, insurance claims processing, processing transactions, handling data, replying to emails, etc.
According to the study, although robotic process automation will threaten the livelihoods of 230 million or more knowledge workers or roughly 9 percent of the global workforce, RPA technology is also creating new jobs while making the working day easier for humans and changing existing job descriptions.
McKinsey found that less than 5 percent of jobs can be fully automated, but about 60 percent can be partially automated.
RPA offers plenty of career opportunities for IT professionals who are looking to the future and trying to understand the latest technology trends, including web developer, solution architect, project manager, business analyst and consultant jobs which are well-paying jobs.
Read Here: 10 Examples of Robotic Process Automation Use Cases
3. Edge Computing
Edge computing is a distributed computing framework that is designed to capture, store, process, and analyze data near the client, where the data is generated. Edge computing is the key to total digital transformation.
Previously the new and emerging technology trends was cloud computing and its related technologies that were prevalent with major players AWS (Amazon Web Services), Microsoft Azure and Google Cloud Platform dominating the market.
The adoption of cloud computing is still increasing, as more and more companies are migrating to cloud solutions, but it is no longer on the list of new emerging technologies but rather edge computing.
The cloud will be more established, and a lot of computing capabilities will be powered by the cloud, the Internet of Things will also drive this trend as well. According to Gartner forecasts, global spending on cloud services was expected to reach more than $482 billion in 2022, up from $314 billion in 2020.
As the amount of data handled by organizations continues to increase, they have come to realize the limitations of cloud computing in some situations.
Edge computing has become an integral part of Industry 4.0. Edge computing technology distributes processing, storage, and applications across a wide range of devices and data centers, and brings enterprise applications closer to data sources. It helps solve some of these issues as a way to bypass the latency caused by cloud computing and move data to the data center for processing.
There are many real-life edge computing use cases. Edge computing can be used to process time-sensitive data at remote sites with limited or no connection to a central site. In these cases, edge computing can act as micro-data centers.
Edge computing will increase as the use of Internet of Things (IoT) devices increases. The global edge computing market size was valued at $15.96 billion in 2023. The market is expected to grow from $21.41 billion in 2024 to $110.6 billion by 2029 and $216.76 billion by 2032, exhibiting a CAGR of 33.6% during the forecast period.
Read Here: The Role of Cloud Computing in Digital Transformation
4. Quantum Computing
The next notable technological trend is quantum computing, a form of computing that makes use of quantum phenomena such as superposition, interference, and entanglement.
Quantum computing uses the collective properties of quantum states to perform calculations. This technology could help prevent the spread of coronavirus disease and develop potential vaccines. It has the ability to easily query, monitor, analyze and act on data, regardless of the source.
In sectors ranging from cancer research to space exploration, edge cloud will become increasingly important, and quantum computing will need to keep pace with growing business demand.
Another area where quantum computing is finding applications is banking and financial services, for credit risk management for high-frequency trading and fraud detection.
Quantum computers are now many times faster than ordinary computers, and huge brands like Splunk, Honeywell, Microsoft, AWS, Google and many more are now involved in making innovations in the field of quantum computing.
Experts expect rapid progress in this field over the next year, because the increasing demand for greater computer capabilities will accelerate the development in this sector, and within a short period of time, commercial quantum computing will soon be within the reach of very large sectors.
The global quantum computing market revenue was about $509.61 million in 2021 and is expected to reach $1,339.16 million by 2026 and $2.5 billion by 2029. It is estimated to grow from $0.36 billion in 2023 to $1.63 billion by 2035, representing a CAGR of 13% during the forecast period. You must have expertise in quantum mechanics, linear algebra, information theory, probability and machine learning to make your mark in this new trending technology.
5. Virtual Reality and Augmented Reality
The next technological trends are Virtual Reality (VR), Augmented Reality (AR) and Extended Reality (ER).
Virtual reality immerses the user in a completely virtual environment while augmented reality uses a real-world setting and enhances the real environment. VR and AR have been used primarily for gaming so far, they have also been used in several areas such as training.
We can expect that VR and AR technologies can be integrated into our lives and work alongside some of the other emerging technologies we’ve mentioned in this list.
AR and VR have huge potential in training, entertainment, education, marketing and even rehabilitation after injury. These emerging technologies could be used to provide museum-goers with a deeper experience, train doctors to perform surgical operations, improve theme parks or even boost digital marketing.
This technology is the basis of Metaverse which is the basis of Web 3.0 or the third generation of the Web where most of the interactions are using VR technology.
Read Here: Applications of Virtual Reality Technology
6. Metaverse
A metaverse is a combination of multiple elements of technology that focuses on social connection.
Facebook launched the big race for “Metaverse” in 2021, and this term refers to a digital reality that combines social media, online games, AR and VR, and cryptocurrencies with which the user can interact. Metaverse represents the future of the Internet that provides access to all kinds of entertainment and projects including business opportunities.
Experts expect that 2022 will witness a widespread “Metaverse” with easy access and use, as it will turn into a digital hub, likely to include entertainment, social communication and work productivity. It will also create a complete ecosystem of new developers, applications, ads and digital innovations, facilitating consumption processes and access to services.
Today, a few companies own a stake in Metaverse, including Facebook, Amazon, Alibaba and Snapchat, but the Microsoft Teams app is perhaps the most advanced in the world in this regard. Apple’s wearable devices with augmented reality glasses coming soon also point to entering the Metaverse arena. As for the Chinese company, WeChat, it has great capabilities in facilitating payments and access to a variety of services, which can be considered a prelude to breaking into this world.
With the growth of the Metaverse business system, it is expected to have a direct impact on the future of many technology sectors, including games, wearable devices, virtual and augmented reality, social networks, educational and healthcare technology, communications, and digital currencies.
7. Blockchain
Although most people think of blockchain technology in relation to cryptocurrencies such as Bitcoin, it provides useful security in many other ways.
In the simplest terms, a blockchain can be described as data that you can only add, hence the term “chain” because you are creating a chain of data.
The inability to alter previous blocks is what makes it so secure. Additionally, blockchain technology is based on consensus so no single entity can control the data. With this technology, you don’t need a trusted third party to oversee or validate transactions. The use of blockchain technology in secure transaction is one of the emerging technology trends.
Many industries are involved and apply Blockchain, especially the financial industry and data insurance. A Blockchain developer works on developing and implementing architecture and solutions using this technology. The average annual salary of a developer in this field is half a million dollars.
If you are fascinated by Blockchain technology and its applications and want to make your career in this trending technology, then this is the right time to get started.
Read Here: Blockchain Technology: Advantages and Disadvantages
8. Internet of Things (IoT)
Another emerging technology in the list of top 10 emerging technology trends that is driving the continuous digitization and data transformation of society in many new and amazing ways is the Internet of Things (IoT). Many “things” are now created using a Wi-Fi connection, which means that they can be connected to the Internet and to each other.
The Internet of Things (IoT) is a system of interconnected digital devices that is fuelling digital transformation for leading companies. IoT is therefore the future, and it has already enabled appliances, home appliances, cars, etc. to connect and exchange data over the Internet.
As consumers you already use and benefit from the Internet of Things, you can remotely lock your doors if you forget to leave for work and preheat your ovens on your way home from work.
However businesses have a lot to gain now and in the near future, IoT can enable better security, efficiency, and decision-making for businesses. It can enable predictive maintenance, accelerate medical care, improve customer service, and deliver benefits you haven’t even imagined yet.
And we’re only in the early stages of this new technology trend: projections are that by 2030 some 50 billion of these IoT devices will be in use worldwide, creating a massive network of interconnected devices covering everything from smartphones to kitchen appliances.
Global spending on the Internet of Things (IoT) was $318.8 billion in 2022, and new technologies such as 5G networks are expected to drive market growth this year. The global IoT market size is projected to grow from $714.48 billion in 2024 to $4062.34 billion by 2032, exhibiting a CAGR of 24.3% during the forecast period.
If you want to go further in this popular technology, you will have to learn about information security, basics of artificial intelligence, machine learning, networking, device connectivity, data analytics and automation, understanding of embedded systems and you must have hardware and design knowledge.
Read Here: Internet of Things (IoT) in Industrial Automation
9. 5G Technology
one of the most useful emerging technology trends following the Internet of Things is 5G, as 3G and 4G technologies have enabled us to surf the Internet and use data-based services, increase bandwidth for streaming on Spotify or YouTube and much more.
5G technology is expected to deliver higher multi-Gbps peak data speeds, greater reliability, ultra-low latency, huge network capacity, increased availability, and more that could revolutionize our lives.
5G will be able to support remote control of critical services, advanced autonomous driving, the Internet of Things, personal communications, and more.
5G can enable services based on advanced technologies such as AR and VR, along with cloud-based gaming services such as Google Stadia, NVidia GeForce Now, and more.
5G technology is expected to make businesses more efficient and give consumers access to more information faster than ever before. It can also be used in factories, HD cameras that help improve smart grid control, safety and traffic management, and smart retail as well.
Read Here: Benefits of 5G Technology for Businesses
10. Cyber Security
Due to the acceleration of digital transformation, we are witnessing more personal and organized cyberattacks around the world, and many companies have been the target of major cyber attacks. they have become more vulnerable to destructive attacks due to the increase in remote work with the spread of the epidemic.
Cybersecurity may not seem like other emerging technology trends, given that it has been around for a while but it is evolving just like other technologies. This is partly because threats are constantly new, malicious hackers trying to access data illegally will not give up anytime soon, and will continue to look for ways to bypass even the most stringent security measures.
This is also partly due to adopting new technology to enhance security. As long as we have hackers, cybersecurity will remain a popular technology because it will constantly evolve to defend against these hackers.
This year, cyber-attacks are expected to continue across different sectors, and in turn, the industry will take a variety of countermeasures, and these actions will include awareness and education of individuals so that they can recognize and avoid network attacks, thus contributing to the protection of company resources.
Expanding the application of artificial intelligence technologies will make creating powerful cybersecurity protocols easier, less expensive, and more effective than ever before, and the use of artificial intelligence can enable cybersecurity to identify risks and learn the behaviors of cybercriminals, thus preventing future attacks.
The number of cybersecurity jobs is growing three times faster than other technical jobs. According to Gartner, around 60% of organizations will use cyber security risk as a primary determinant by 2025 in conducting third-party transactions and business engagements.
Emerging Technology Trends: Why They Matter
These emerging technology trends are shaping various industries and have the potential to impact our lives significantly. Keeping an eye on emerging technology trends is crucial for several reasons:
Staying informed about new technologies allows individuals and organizations to innovate and adapt. By understanding what’s on the horizon, they can proactively incorporate relevant advancements into their strategies.
In a rapidly evolving landscape, those who embrace emerging technologies gain a competitive edge. Whether it’s process automation, virtualization, or 5G connectivity, being ahead of the curve can make a significant difference.
Technologies like 5G and the Internet of Things (IoT) have the potential to unlock economic activity. Implementing faster digital connections can boost global GDP by trillions of dollars.
As automation, robotics, and data-driven innovations become more commonplace, understanding their impact on jobs and organizational structures is essential. Being prepared can mitigate disruptions.
Overall, monitoring emerging technology trends isn’t just about curiosity; it’s about strategic foresight, competitiveness, and navigating the ever-changing digital landscape. Stay informed and adapt to these transformative technologies.
