TRENDS - Top 15 technology trends in the next 5 years
"Any sufficiently advanced technology is indistinguishable from magic." - Arthur C Clarke
Technology is always changing and we can expect all sorts of new initiatives to take place in the next five years that will change how we live. Below are some of the most interesting technology trends we see coming in the next several years.
We have been reading a great deal about the software development of the Metaverse and what the new Facebook initiative could look like in a few years. While it isn’t yet possible to live in the Metaverse, we think in five years, it will be possible to fully immerse yourself there.
Right now, the Metaverse is where the World Wide Web was in the mid-90s. Many people believe once it advances and improves, the Metaverse will have a revolutionary impact on us like the Internet did. It’s expected this will forever change how we socialize, work, and live, and organizations that don’t adapt to the Metaverse will be wiped out.
The big driver of the Metaverse experience is gaming. As the Metaverse’s technical capabilities grow, more games will be available there that completely immerse you in the experience. And that life-changing experience is what will make people move to the Metaverse.
We could eventually get to the point where people live most of their lives in the Metaverse.
2# Edge Computing
The lag that might impact how operations are conducted is one of the main worries for many firms nowadays. In order to evaluate data as rapidly as possible, several sectors are focusing on how effective and responsive computers are. Edge computing is useful in this situation.
Edge computing brings computer processes and data storage closer to organizations and reduces response times and lowers the amount of bandwidth used.
Some advantages of edge computing that we will see in the future are: Boosts cybersecurity to a new level by reducing problems with privacy regulations, local compliance, and the sovereignty of data. Computer speed will increase dramatically with edge computing as it reduces latency. For instance, self-driving cars need faster computer processes because every fraction of a second the vehicle is moving is critical.
Biometrics will play a key role in increasing security by allowing individuals and devices to verify and move effortlessly through our high-tech world.
We already experiencing the Biometrics in Lifts for button and our cell phone where we are using Fingerprints and Iris Scanning to unlock our phones.
Many people think drones will be much more common by 2024 and 2025. Right now, drones are mainly used only by videographers and photographers. But soon, drones will be cheap enough that a lot of people will want to own them. And with improved technology, they will be able to be flown for many hours at a time without a recharge.
Drones also will not require permission from the government in the next few years, so they could be used for more things. For instance, drones may be used more to find people or animals that are lost. There also could be more use of drones to deliver consumer goods.
There will be a time soon when none of us can go through a day without seeing a drone.
Blockchain is data that only can be added to and cannot be taken from or changed. Because the data cannot be changed, it makes it extremely secure. Also, blockchain is driven by consensus so no one person or organization controls the data. Blockchain means there isn’t a third-party gatekeeper keeping control of the transactions.
Blockchain is solving the growing need to secure and manage transactions across the internet, as it provides a flexible alternative to centrally managed record keeping. Distributed ledger technologies have proven valuable in managing data and supply chain challenges.
Many of us only think about blockchain technology in terms of cryptocurrencies such as Ethereum and Bitcoin. However, blockchain offers many types of security that are beneficial in other areas.
Artificial intelligence (Al) refers to programmed algorithms that automatically parse and apply knowledge. From security to sales applications within businesses of all sizes, Al is the largest force in emerging technology today.
Artificial intelligence will grow by leaps and bounds in the next few years. Recently, the idea of AI has advanced as researchers and scientists have found more innovative ways to use the tech.
Healthcare is one sector we anticipate will see substantial growth in AI. Medical practitioners will be able to do mental activities much more quickly thanks to the advancement of artificial neural networks (ANN) and sophisticated deep learning (DL).
Further, AI in the medical field will help doctors to leverage data to notice patterns that can make the delivery of healthcare a more personal experience. Healthcare could see major changes because of AI with healthcare professionals spending more of their time working with the patient rather than understanding the diagnosis.
7# Cloud Computing
Cloud computing will only get bigger in the coming years as more organizations large and small put their data in the cloud and stop relying on local servers. We can expect a large transition to cloud computing in the next five years in many organizations, businesses, and industries.
There also will be more advances in alternatives to cloud computing, including edge computing and fog computing. Fog computing bypasses the challenges with cloud computing not being able to process massive amounts of data in a short time.
8# Serverless / Fog Computing
Function as a Service (FaaS), also known as serverless computing or fog computing, enables businesses to create real-time scalable systems that can adapt to demand that can change dramatically and instantly. FaaS is a consumption-based platform that enables developers to launch apps rapidly and affordably.
Robotics are shifting from industrial use to service delivery and have the potential to create change impacting our homes and businesses physically and virtually.
10# Natural Language Processing (NLP)
Natural language processing (NLP) is a field of Al that enables computers to analyze and understand human language. Speech-to-text converts human language to a programming language, and text-to-speech converts a computer operation to audible response.
Translate Functions and voice-based applications are the example of NLP which are supporting our day-to-day activities.
11# Mixed Reality (MX)
Mixed reality technologies (AR/VR) are changing the way we interact with machines, data, and one other. Organizations are utilizing mixed reality, augmented reality, and sensor technology to improve human productivity, operational effectiveness, and execution flexibility.
12# Robotic Process Automation (RPA)
RPA is another emerging technology that will automate many jobs. RPA involves the use of software to automate routine business processes including processing technologies, interpreting applications, manipulating data, and even answering texts and emails. RPA will essentially automate common tasks that people once did by hand.
Some sources estimate that robotic process automation will threaten the jobs of more than 200 million people and up to 9% of the workforce around the globe. RPA, however, also will create new jobs, and it is believed that most jobs can only be partially automated, not entirely replaced.
No list of emerging tech trends is ever complete without talking about 5G. This is the new generation standard in mobile communications that offers faster speeds and reduced latency. This is great news because so many of us use our phones all the time to live our busy lives.
Of course, 5G networks have been developed for many years. But now the networks are starting to go online and 5G is offering much faster speeds on mobile devices and Internet connections are more reliable.
With so much more wireless bandwidth available, it’s not possible for more IoT devices to connect with each other. There also will be more possibilities in the future for self-driving vehicles and even smart cities. All of these things will be made possible by much faster wireless data transfers with 5G networks.
5G's improvements—low latency, intelligent power consumption, high device density and network slicing—make it a breakthrough and an opportunity for the channel. 5G will make augmented reality, smart cities and connected cars truly possible.
The Internet of Things (IOT) collects data from numerous linked devices, enabling the development of system analytics. These platforms, gadgets, and databases have the ability to bring new business opportunities, efficiencies, and insights.
15# Quantum Computing
Quantum computing is a type of computing that uses quantum principles including quantum entanglement and superposition. This intriguing trend in technology is also part of preventing the spread of viruses and developing new vaccines. These things are possible with quantum computing because of the ease of monitoring, querying, and acting on data, no matter the source.
Quantum computing is the engine that will drive our ability to process and analyze big data and will be the key to leveraging machine learning and the power of Al.
Quantum computing also should be of use in the future in finance and banking to reduce credit risk and detect fraud.
Quantum computers are now much faster than conventional computers and large brands of computers are now making significant advances in quantum computing.
This list of technology trends in the next several years shows how much technology changes in a short time. While all of these technologies are still relatively early in their lifecycles, we can expect that they will continue to improve and evolve in the next five years.
“We are changing the world with technology.” - Bill Gates
“The Science of today is the technology of tomorrow.” Edward Teller
By the time another five years passes, it’s hard to imagine how much more advanced technology will be but we are sure it will be impressive!
Thanks for reading and before you go…
SUBSCRIBE to join the community of curious readers who receive weekly emails directly in their inbox related to finance, health, philosophy, psychology, and technology.
FOLLOW | Facebook | Twitter | Instagram | LinkedIn | Pinterest | Reddit | for daily smart visuals.