Daily Mirror (Sri Lanka)
New Technology Trends for 2022
Technology today is evolving at a rapid pace, enabling faster change and progress, causing an acceleration of the rate of change. However, it is not only technology trends and emerging technologies that are evolving, a lot more has changed this year due to the COVID-19 pandemic making IT professionals realize that their role will not stay the same in the contactless world tomorrow. Here are some top emerging technology trends in 2022.
Artificial Intelligence (AI) and Machine Learning
Artificial Intelligence, or AI, has already received a lot of buzz in the past decade, but it continues to be one of the new technology trends because of its notable effects on how we live, work and play are only in the early stages. AI is already known for its superiority in image and speech recognition, navigations apps, smartphone personal assistants, ride-sharing apps and so much more.
The AI market will grow to a $190 billion industry by 2025 with global spending on cognitive and AI systems reaching over $57 billion in 2022. With AI spreading its wings across sectors, new jobs will be created in development, programming, testing, support and maintenance, to name a few. On the other hand AI also offers some of the highest salaries today ranging from over $1,25,000 per year (machine learning engineer) to $145,000 per year (AI architect) - making it the top new technology trend you must watch out for!
Robotic Process Automation (RPA)
Like AI and Machine Learning, Robotic Process Automation, or RPA, is another technology that is automating jobs. RPA is the use of software to automate business processes such as interpreting applications, processing transactions, dealing with data, and even replying to emails. RPA automates repetitive tasks that people used to do.
Although Forrester Research estimates RPA automation will threaten the livelihood of 230 million or more knowledge workers or approximately 9 percent of the global workforce, RPA is also creating new jobs while altering existing jobs. Mckinsey finds that less than 5 percent of occupations can be totally automated, but about 60 percent can be partially automated.
Formerly a new technology trend to watch, cloud computing has become mainstream, with major players AWS (Amazon Web Services), Microsoft Azure and Google Cloud Platform dominating the market. The adoption of cloud computing is still growing, as more and more businesses migrate to a cloud solution. But it’s no longer the emerging technology trend. Edge is.
As the quantity of data organisations is dealing with continues to increase, they have realized the shortcomings of cloud computing in some situations. Edge computing is designed to help solve some of those problems as a way to bypass the latency caused by cloud computing and getting data to a data center for processing. It can exist “on the edge,” if you will, closer to where computing needs to happen.
Edge computing will increase as use of the Internet of Things (IOT) devices increases. By 2022, the global edge computing market is expected to reach $6.72 billion. And this new technology trend is only meant to grow and nothing less, creating various jobs, primarily for software engineers.
Next remarkable technology trend is quantum computing, which is a form of computing that takes advantage of quantum phenomena like superposition and quantum entanglement. This amazing technology trend is also involved in preventing the spread of the coronavirus, and to develop potential vaccines, thanks to its ability to easily query, monitor, analyze and act on data, regardless of the source. Another field where quantum computing is finding applications is banking and finance, to manage credit risk, for high-frequency trading and fraud detection.
Quantum computers are now a multitude times faster than regular computers and huge brands like Splunk, Honeywell, Microsoft, AWS, Google and many others are now involved in making innovations in the field of Quantum Computing. The revenues for the global quantum computing market are projected to surpass $2.5 billion by 2029. And to make a mark in this new trending technology, you need to have experience with quantum mechanics, linear algebra, probability, information theory, and machine learning.
Although most people think of blockchain technology in relation to cryptocurrencies such as Bitcoin, blockchain offers security that is useful in many other ways. In the simplest of terms, blockchain can be described as data you can only add to, not take away from, or change. Hence the term “chain” because you’re making a chain of data. Not being able to change the previous blocks is what makes it so secure. In addition, blockchains are consensus-driven, so no one entity can take control of the data. With blockchain, you don’t need a trusted third-party to oversee or validate transactions.
Internet of Things (IOT)
Another promising new technology trend is IOT. Many “things” are now being built with Wifi connectivity, meaning they can be connected to the Internet—and to each other. Hence, the Internet of Things, or IOT. The Internet of Things is the future, and has already enabled devices, home appliances, cars and much more to be connected to and exchange data over the Internet.
As consumers, we’re already using and benefitting from IOT. We can lock our doors remotely if we forget to when we leave for work and preheat our ovens on our way home from work, all while tracking our fitness on our Fitbits. However, businesses also have much to gain now and in the near future. The IOT can enable better safety, efficiency and decision making for businesses as data is collected and analyzed. It can enable predictive maintenance, speed up medical care, improve customer service, and offer benefits we haven’t even imagined yet.
And we’re only in the beginning stages of this new technology trend: Forecasts suggest that by 2030 around 50 billion of these IOT devices will be in use around the world, creating a massive web of interconnected devices spanning everything from smartphones to kitchen appliances. The global spending on the Internet of Things (IOT) is forecast to reach 1.1 trillion U.S. dollars in 2022. New technologies such as 5G is expected to drive market growth in the coming years.
The next technology trend that follows the IOT is 5G. Where 3G and 4G technologies have enabled us to browse the internet, use data driven services, increased bandwidths for streaming on Spotify or Youtube and so much more, 5G services are expected to revolutionize our lives. by enabling services that rely on advanced technologies like AR and VR, alongside cloud based gaming services like Google Stadia, Nvidia Geforce Now and much more. It is expected to be used in factories, HD cameras that help improve safety and traffic management, smart grid control and smart retail too.
Just about every telecom company like Verizon, Tmobile, Apple, Nokia Corp, Qualcomm, are now working on creating 5G applications. 5G Networks will cover 40% of the world by 2024, handling 25% of all mobile traffic data making it an emerging technology trend you must watch out for, and also save a spot in.
Cyber security might not seem like an emerging technology, given that it has been around for a while, but it is evolving just as other technologies are. That’s in part because threats are constantly new. The malevolent hackers who are trying to illegally access data are not going to give up any time soon, and they will continue to find ways to get through even the toughest security measures. It’s also in part because new technology is being adapted to enhance security. As long as we have hackers, cybersecurity will remain a trending technology because it will constantly evolve to defend against those hackers.
As proof of the strong need for cybersecurity professionals, the number of cybersecurity jobs is growing three times faster than other tech jobs. According to Gartner, by 2025, 60% of organisations will use cybersecurity risk as a primary determinant in conducting third-party transactions and business engagements.