The world is witnessing massive technological innovations. Every day we hear buzzwords like artificial intelligence, machine learning, the internet of things, and more.
All in all, technology is shifting gears and accelerating like a supercar! And businesses are redefining their innovations, agility, operations, and business growth by incorporating different types of technologies such as blockchain, AI, and machine learning.
With these advancements in making, you might question what’s going to stay and evolve in the future?
Will the Internet of things continue to be the boss? Or is there any chance of replacement?
You’ll find all these answers in this article. Apart from IoT, we’ll also talk about four other technology innovations that will shape the future of the world.
If this sounds like something worth your attention, keep reading.
1. Cloud-Native Applications – Innovative & Competitive Edge
Over the past few years, the world has witnessed a rapid change in application infrastructure, and as it seems, more and more organizations are moving to cloud applications. As revealed by few studies, 35% of all production applications will be cloud-native by 2022.
Cloud-native means all applications are built to run in the cloud. Today, companies are focusing on cloud-native app development to create more efficient, flexible, and scalable systems. One reason cloud-native is becoming popular is that it lets teams focus on what matters—delivering key business needs—rather than getting bogged down in infrastructure details.
Furthermore, cloud-native apps are more affordable than conventional options. The majority of cloud-native apps allow uniformity of infrastructure and tooling. Businesses can also thus anticipate lower prices because of cloud-native architecture’s open-source models. No other capacities allow organizations to pay-per-use estimate time in milliseconds.
Considering the technological advancements, the launch of new tools, agile product development methods, more developers, and a lot of code reuse, 500 million new apps will be created by the year 2023.
Given the faster adoption of cloud-native applications, we’re also most likely to see a change in user interfaces over the coming years. Hence, by 2024, we’ll be seeing artificial-intelligence-powered user interfaces. Put simply, automation will replace the majority of the current screen-based apps.
2. Internet of Things – Astounding Innovation
The Internet of things is becoming the most potent superpowers of the tech world. Even in developing countries, we are seeing large-scale deployments that have emerged in vastly different industries and use cases such as electric vehicles, smart surveillance, smart cities, medical applications, and more.
The range of potential and existing IoT devices is enormous. We are already seeing people using their smartphones to communicate with IoT devices – from home thermostats to smart speakers, there’s already so much that this technology is doing. By 2025, there will be more than 21 billion IoT devices and AI will continue to become a bigger thing.
The predictions are for millions of endpoints being deployed as digital transformation takes hold across many industries. Put simply, IoT is expanding, and we’re going to see it rise exponentially.
As we enter 2021, I predict that while IoT-enabled devices and the connected home market will keep seeing steady incremental growth, the corporate IoT sector will also pick up exponentially. There’ll be more requirements from diverse industries such as agricultural equipment, food manufacturing, coffee brewers, and real estate management.
Furthermore, 2022 will be the year of Corporate IoT, for it will feature expansions into a huge variety of use cases. It will also drive meaningful business improvement in the coming times. Put simply, the future of IoT is very bright, and it is quickly involving from a technology experiment to a worldwide phenomenon.
3. 5G Technology – Global Innovation
The arrival of the 5G network will not only change tech but will also offer an entirely new mobile experience. 5G, as wireless technology, is expected to deliver internet speeds that’ll be 100 times faster than the standard 4G connections.
As studies depict, 5G is going to be one of the most disruptive technologies in recent years. In the future, 5G is expected to provide higher service quality, higher bandwidth, and lower latency – all of this will help improve the user experience both in the business and consumer space, from telehealth to gaming use cases.
As 5G technology has been going through rapid innovation, it will most likely change the way we’re spending our lives. Soon, we’ll enter an era where communications will be faster, and connections will be stronger than ever.
If everything works in the manner experts have predicted, 5G would be the best solution for the people who want to stream high definition, 8K videos in a flash. Hence, with 5G connections and speeds, consumers will be able to enjoy graphics-rich mobile games, crystal-clear video calls without having to deal with lag.
Even though few organizations have successfully introduced 5G-capable devices, this technology still requires some more time for proper application. But once the 5G becomes fully functional, there won’t be any need for any type of wire or cable to deliver communications or entertainment service to your mobile devices. With the introduction of 5G, you’ll be able to download 3-hour long movies in a matter of seconds.
4. Electronic Bikes – Innovation for a Healthy Commute
With urban areas getting denser, and traffic turning more hectic, many people are looking for commuter-friendly vehicles. An e-bike is becoming a smart choice for people living in smart cities. As the population density keeps increasing, the one-car-per-person model won’t be as sustainable as it is today.
That’s why people are looking for an alternative. In congested cities, e-bikes promise to provide a cheaper and faster commute from A to B versus sitting in the car and waiting for traffic to clear.
Smart city planners have understood the benefits of e-bikes and their scope in the future. They are investing in technology that promotes the well-being and health of people. While all two-wheelers generally offer a healthier commute than riding a car, e-bikes are a better option because they provide low-impact exercise – which makes them a better option for people who want to keep fit.
Some employers are already taking notice of the benefits of e-bikes. They are enticing staff with special incentives – encouraging them to ride electric bikes to the workplace. With these advancements on track, the future of e-bikes is likely to witness exponential growth.
In the year 2017, the U.S electronic bike market grew over 25% from the previous year as the Americans bought as many electronic bikes as they did the electric cars the previous year. By the year 2023, global sales of electronic bikes will reach around 40 million units.
So, if you’re wondering whether e-bikes will be a good investment, you should know that these bikes offer the same great benefits as a traditional bicycle, including cost savings, more comfort, and improved health. Another advantage of these bikes in our view is better range and efficiency in climbing hills.
Perhaps the biggest benefits of e-bikes are their environmentally friendly nature. There’s no need to visit the petrol pump and fill your tank with fuel. This benefit comes as a relief especially when we see petrol prices increasing every day.
5. Blockchain – Business Innovation
When we hear blockchain, the first thing that comes to our mind is bitcoin and other cryptocurrencies. After all, cryptocurrencies provide a platform for decentralized transactions and storage of digital currencies. They also enabled different sectors in transactions and storage by reducing third-party interference and eliminating centralized control.
Blockchain seems to appear as a technology that will shape future innovations. Gradually, a lot of businesses have started accepting payments in bitcoin, and a huge number of marketers and investors are putting their money into it. Through the evolution of bitcoins or blockchains has its challenges, but things are finally starting to mature.
As revealed by a Gartner study, by 2039, business value added by blockchain will increase to $3.1 trillion. I believe that blockchain has immense potential, especially for enterprise blockchains – there is huge scope, and it will have a profound impact on businesses in the upcoming years.
Blockchain can be leveraged by retail, fintech, healthcare, e-commerce, and other industries because it ensures more transparency in digital transactions, and that too without compromising security.
Conclusion
I see these five technologies shaping our future, but the truth is, we are already witnessing their impact.
Weren’t you already aware of the benefits of e-bikes, cryptocurrencies, the internet of things, 5G technology, and cloud-native applications?
You most probably did. What we’re trying to say is, these technological innovations have started creating an impact, and soon, they’ll dominate the industries.
All in all, the future is exciting and we’re confident that the above technologies will form the backdrop to drive growth.