We’ve all heard it before: the pace of technological development is growing. It’s erratic and unpredictable. According to the World Economic Forum acknowledged in its Future of Jobs report, we’re in the midst of the fourth industrial revolution.
The advancements in previously unrelated areas like machine learning and artificial intelligence and robotics, nanotechnology 3D printing, biotechnology, and genetics are growing and expanding each other . . . In 2020, on average greater than three-quarters of the fundamental skills required by most professions will consist of skills that aren’t thought to be essential to the work today.
The most important thing to survive the new industrial revolution is to lead it. This requires two essential aspects of agile companies understanding of the disruptive technologies and a strategy to build talents that profit from it.
10 technologies that will change the world economy before 2025.
With the proliferation of technologies across various areas, it’s difficult to keep up. Each new innovation is described by the media as “the next big thing.” In a combination of a report from the McKinsey Global Institute and Pluralsight’s experts in the field and experts, we’ve created the top 10 technology trends that are likely to be the driving force behind the 4th industrial revolution. According to the Institute states, “Not every emerging technology will alter the business or social landscape – but some truly do have the potential to disrupt the status quo, alter the way people live and work, and rearrange value pools.”
1. Mobile Internet
Interfaces, formats and sensors, and apps will change as mobile devices become the dominant source of internet connectivity. In the year 2025 mobile internet will be accessible to more than 4.3 billion users.
2. Artificial Intelligence
User interfaces and machine learning such as gesture and speech recognition technologies will improve to improve productivity or even eliminate knowledge-based tasks completely.
3. Virtual and Augmented Reality
Goldman Sachs is betting on the virtual and augmented reality market to grow to 80 billion in 2025. That’s roughly $7 billion at present. Major changes will be coming to the infrastructure of technology and an app ecosystem will be created for both users and businesses alike.
4. Cloud technology
One of the most talked about buzzwords of the past decade will continue to be influential in the next decade. Virtually all IT applications and services could be made available through the cloud.
5. Internet of Things
Nearly 9 billion computers are online. the number of connected devices is projected to rise from 50 billion and nearly one trillion over the next decade. Companies will be faced with monitoring and security of systems, products as well as devices, and even individuals.
6. Robotics with advanced technology
Artificial Intelligence machine vision, sensors, machine vision motors, hydraulics, motors, and other materials will alter the way services and products are offered. A rise in tech talent to build, operate and maintain modern robots will be seen.
7. Biometric technology
The results of a recently conducted poll of security professionals found the fact that 72 percent of businesses are planning to ditch traditional passwords in 2025. This will lead to new authorization systems for face or voice recognition, eye-hand, and signature verification.
8. 3D printing
3D printing has the potential to provide unprecedented amounts of mass customization and drastically cut the costs of supply chains, resulting in estimates of economic benefits of between $230 and $550 billion per year in 2025.
Genetic engineering technology will expand as computers speed up processing speed. DNA sequencing technology along with advanced analytics can boost the production of agricultural products, decrease dependence on fossil fuels, and increase the lifespan of humans.
Blockchain is most commonly used as the virtual currency Bitcoin However, it is also used in a recent study that found 64 distinct uses for blockchain in 200 companies. Secure, streamlined transactions and contracting will be the main drivers of commercial usage.
Wildcard: Quantum computing
The use and application of quantum computing are not clear however quantum computing is growing over the hype. Google’s Quantum AI Laboratory predicts that quantum computing technologies of small size will be available commercially in five years. It will assist companies to increase their revenue, cutting costs, and decrease the investment in infrastructure.
The workforce of 2025 is required to learn about enterprise
These technologies can bring huge advantages for companies of all sizes However, they could bring big obstacles. The McKinsey report provides some tips to prepare for the challenges ahead, including anticipating the future demands of employees through education: “The nature of work will continue to change, and that will require strong education and retraining programs.”
The World Economic Forum concurs: “Across the spectrum of sectors, the impact of technological and other advancements has shortened the life-span of existing skill sets. . . . The ability to shape, manage and direct the changes that are taking place are in short supply unless we act now to build it. Businesses must put the development of their workforce and talent strategy in the forefront of their development. Businesses can no longer remain passive consumers of already-built human capital. They need a fresh approach to satisfy their requirements for talent.”
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