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How will AI affect industries in the next decade?

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How will AI affect industries in the next decade?

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The Future of Technology: Predictions and Trends for the Next Decade

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From AI to sustainability, explore how emerging technologies will impact our daily lives and industries. Keep up with the future of technology.

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How will 5G transform the networking we have today?

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How will 5G transform the networking we have today?

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Technology has transformed every aspect of our lives in once unimaginable ways. With the rapid advancement of technology, we are witnessing an increasingly interconnected, automated, and intelligent world.

From artificial intelligence to the Internet of Things (IoT), technology is transforming our society at an unprecedented pace. In this blog post, we will explore the future of technology and its impact on our community.

One of the most significant technological trends is the rise of artificial intelligence (AI). With AI, machines can learn from data and improve their performance over time, enabling them to perform tasks that were once thought to be the exclusive domain of humans. AI has the potential to revolutionize the way we live and work, and it is already transforming industries such as healthcare, finance, and manufacturing.

Another trend shaping technology's future is the Internet of Things (IoT). The IoT refers to a network of connected devices that can communicate with each other and share data. This technology has the potential to transform everything from transportation to healthcare, enabling us to live in a more connected and efficient world.

Exploring Emerging Technologies and Their Impact on Society

As technology continues to evolve, we expect to see breakthroughs in areas such as quantum computing, robotics, and biotechnology. These technologies can transform our society in ways we cannot yet imagine, from curing diseases to exploring new frontiers in space.

However, with all these advancements, some challenges need to be addressed. One of the biggest challenges is the impact of automation on jobs. As machines become more intelligent and capable, many jobs that humans once performed will become automated, leading to significant job losses in some industries.

Another challenge is the ethical implications of technology. With the rise of AI, there are concerns about the potential for machines to make decisions that could harm humans. Additionally, there are concerns about privacy and security as more and more of our data is collected and analyzed by machines.

Beyond Technology Embraces a Bright and Uncertain Future

In conclusion, the future of technology is both exciting and uncertain. While we can expect to see incredible breakthroughs in areas such as AI, IoT, and biotechnology, we must also be aware of the potential challenges of these advancements. By working together to address these challenges, we, as Beyond Technology, a company dedicated to transforming business through technology, can ensure that we will continue to improve our lives and make our world a better place.

Listen to our podcast HERE. In this edition, our CEO, Jorge Mandujano, talks about how technology will impact our future as a society. Follow us and find out about new technology trends.

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The Future of Technology: A Look at the Major Trends That are Transforming Our Society Technology has transformed every aspect of our lives in once unimaginable ways. With the rapid advancement of technology, we are witnessing an increasingly interconnected, automated, and intelligent world.

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In my book, Tech Trends in Practice, I talk about a lot of technology trends that are already moving out of the R&D departments and into everyday life, but the following five I think will have the most profound impacts on our society and the human race as a whole.

The 5 Technologies That Will Change The Future Of The Human Race
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Artificial Intelligence

Artificial intelligence, or AI, and machine learning refer to the ability of machines to learn and act intelligently, meaning they can make decisions, carry out tasks, and even predict future outcomes based on what they learn from data.

AI and machine learning already play a bigger role in everyday life than you might imagine. Alexa, Siri, Amazon's product recommendations, Netflix's and Spotify's personalized recommendations, every Google search you make, security checks for fraudulent credit card purchases, dating apps, fitness trackers... All are driven by AI.

AI is going to revolutionize almost every facet of modern life. Stephen Hawking said, "Success in creating AI would be the biggest event in human history." And Hawking immediately followed that up with, "Unfortunately, it might also be the last, unless we learn how to avoid the risks."

There are potentially huge risks for society and human life as we know it, particularly when you consider some countries are racing to develop AI-enabled autonomous weapons. AI and machine learning are the foundation on which many other technologies are built. For instance, without AI, we wouldn't have achieved the amazing advances in the Internet of Things, virtual reality, chatbots, facial recognition, robotics, automation, or self-driving cars, just to name a few.

AI is also going to transform human jobs. AI-enabled automation will have a particularly significant impact and may lead to the displacement of many jobs. But rather than subscribing to a vision of a dystopian future where all human jobs are given over to robots, I believe AI will make our working lives better. AI will enhance the work of humans, and new jobs will arise to replace displaced jobs.

What's more, as machines become more intelligent and capable of carrying out more human tasks, I believe that our uniquely human capabilities, things like creativity, empathy, and critical thinking, will become all the more precious and valuable in the workplaces of the future.

Gene Technology

Genomics is an interdisciplinary field of biology that focuses on the understanding and manipulation of DNA and genomes of living organisms. Gene editing is a group of technologies that enables genetic engineering in order to change the DNA and genetic structure of living organisms.

Biotechnology is advancing to the point where it's viable to alter the DNA encoded within a cell; this will influence the characteristics or traits that its descendants will have. In plants, this could affect the number of leaves or their coloring, while in humans, it could affect their height, eye color, or their likelihood of developing diseases. This opens up a range of possibilities that are almost unlimited, as it means that any characteristic of a living organism that is inherited can theoretically be changed.

Much of the work being done with gene editing is in the field of healthcare. Among the most exciting current projects is the correction of DNA mutations which can lead to serious illnesses such as cancer or heart disease. But, perhaps more than with any other technology, there are a huge number of ethical and legal concerns as well as "what if" questions when it comes to genetic manipulation and editing. Genome editing in humans is currently banned in many countries, including much of Europe, as its long-term results are not understood.

With anything as potentially transformative to society as genomics, it can be easy to get carried away thinking about possibilities such as wiping out cancer or even indefinitely prolonging human life. In reality, such huge advances are likely to be a long way away, if they are ever possible at all. Focusing on solving smaller problems that will have an immediate real-world impact is likely to be more fruitful in the short term.

Human-Computer Interfaces

Human-computer interfaces create wearable devices and technology that help to improve the physical and potentially mental performance of humans and help us lead healthier and better lives. Perhaps the most prevalent examples of wearables today are fitness tracker bands and smartwatches: small, easy to wear devices that typically monitor our activity and provide insights that help us lead healthier, better, more productive lives.

However, the term wearable doesn't necessarily mean something that you strap onto your wrist or where elsewhere on your body; it also extends to smart clothing such as running shoes that can measure your gait and performance, advances like robotic prosthetics, and robotic wearable technology used in industrial settings.

As technology gets smaller and smarter, the sheer range of wearables is going to expand, and new, smaller, smarter products will emerge to supersede the wearables we're familiar with today. For example, we already have smart glasses, but these are likely to be replaced by smart contact lenses. After that, smart contact lenses will likely be replaced by smart eye implants.

Advances like this lead many to believe that humans and machines will eventually merge to create truly augmented humans, transhumans, or humans 2.0, where the human body is souped up like a sports car to achieve enhanced physical and mental performance. This would transform the world of medicine and eventually maybe even challenge our understanding of what it means to be human.

At a societal level, we could be heading toward an even greater divide between rich and poor, between the Haves and the Have Nots. Technology is promising to help us live longer and healthier lives, maybe even offering the chance to live forever, but probably only for those who can afford it. Imagine a society in which the rich are effectively superhumans that live forever, and everyone else is normal and disadvantaged... There's also a wider ethical question about whether we should want to live exceedingly long lives given the huge strain that would put on our planet.

Extended Reality (XR)

Extended reality, or XR for short, encompasses virtual reality, augmented reality, and mixed reality and refers to the use of technology to create more immersive digital experiences.

In practice, XR is being used to boost brand engagement, let customers try before they buy, enhance customer service, make workplace learning more effective, and improve other organizational processes.

XR Technologies offer exciting and entirely new ways for people to experience the world around them. XR technology is already finding very real applications in our world, and is likely to dramatically change the way we interact with technology. In fact, mobile-based AR experiences, such as the Pokemon Go app, generated over $3 billion in global revenue in 2018. XR is also the user interface into the metaverse, the idea of a virtual universe where we can be whoever or whatever we want, while exploring the digital world of gaming, meeting up, going to events, or anything along the lines of the movie 'Ready Player One'.

But accessibility and availability are obvious obstacles to overcome, given that XR headsets can be pricey, bulky, and clunky. But the technology will become more common, affordable, and comfortable to use, which will only increase the chance of widespread use. The biggest challenges will include privacy and the potential mental and physical impacts of highly immersive technologies.

3D Printing

3D printing, also known as additive manufacturing, means creating a 3D object from a digital file by building it layer by layer. 3D printing may seem distinctly more low-tech than artificial intelligence or gene editing, but it has the potential to completely transform manufacturing and other industries.

Using 3D printing, the factories of the future could quickly print spare parts for machinery on site. Entire assembly lines could be replaced with 3D printers. We could print human tissue for transplant, print weapons, even print food.

3D printing technology brings many opportunities, but it also brings some downsides, challenges, and obstacles to overcome. While it has the potential to reduce the environmental impact of manufacturing by using fewer materials overall, we have to consider the environmental impact of the printers themselves.

3D printing also presents problems for intellectual property owners, since the technology enables counterfeiters to produce fake license goods cheaply and easily. There's also the problem that weapons can be easily 3D printed. One thing I find particularly exciting about 3D printing is the potential it brings for mass personalization of products. Thanks to 3D printing, products and Designs can be customized to suit one-off requests in orders, and this could cover anything from personalized sneakers to food that's personalized to our individual nutritional needs.

Keep an eye on these technologies, as I believe they have the biggest potential to impact the future of human life and our society. To stay on top of these and other trends, sign up for my newsletter, and check out my books ' Tech Trends in Practice' and 'Business Trends in Practice.'

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The 5 Technologies That Will Change The Future Of The Human Race

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Some technology trends are so transformative that they have the potential to change the future of what it means to be human. Here we look at the five tech trends that fall into this category.

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Innovation is critical to the future well-being of society and to driving economic growth.

The World Economic Forum's Technology Pioneer community is composed of early to growth-stage companies from around the world involved in the design, development and deployment of new technologies and innovations.

Each year, the Forum recognizes a new cohort of Technology Pioneers and incorporates them into its initiatives, activities, and events.

Innovation is critical to the future well-being of society and to driving economic growth, both of which are key priority areas for the World Economic Forum. To support these two pillars, the Forum launched its Technology Pioneer community in the year 2000.

The community is composed of early- to growth-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and poised to have a significant impact on business and society.

The programme aims to give next-generation innovators a voice in solving global issues and the opportunity to contribute to the exploration of future trends. Each year, the Forum recognizes a new cohort of Technology Pioneers and incorporates them into its initiatives, activities, and events.

We asked our 2022 cohort for their views on how technology will change the world in the next five years. From maturing of advanced technologies such as Web3 and quantum, to managing flexible grids and on-demand manufacturing, here are their predictions for our near-term future.

'Credit will become accessible to those ignored by traditional financial institutions'

Madhav Krishna, Founder and Chief Executive Officer, Vahan

With an explosion in internet penetration across the world accompanied by the proliferation of digital labour marketplaces or platforms, 'gig-work' is going to become the predominant mode of work. This shift has larger ramifications for low-skilled/blue-collar workers who usually comprise more than 80% of the workforce in developing countries. Internet platforms in e-commerce, food delivery, ride-sharing, logistics and so on have low barriers to entry and are creating a wealth of earning opportunities in countries where there aren't enough jobs for low-skilled populations. Workers can engage with many platforms in parallel and maximize their earnings. Soon, digital labour marketplaces will embed financial services into their products which will make credit accessible for many people who are ignored by traditional financial institutions. Over time, technology will enable financial stability and discipline without the need for people to gain relevant knowledge. AI and machine learning advisors will become ubiquitous, constantly recommending the next gig, next investment or next online class to us, truly democratizing growth and financial wellbeing.

'Web3 technologies will revolutionize the world of commerce'

By 2025, Web3 technologies will have revolutionized the world of commerce, in much the same way that Web2 transformed access to information. Physical and digital (phygital?) 'things' will be listed and traded on an open, liquid, digital market. In the early days of the internet, information was mostly siloed within proprietary online networks. However, the zero marginal cost of distribution, combined with consumer demand, led to the single, searchable, open internet of information we enjoy today. Understandably, commerce has taken longer to make the leap. With the exchange of physical assets, the need to manage counterparties' risk, mediate disputes and ensure settlement, requires trust. This trust is vested in either trusted intermediaries or trusted sellers. Consequently, e-commerce transactions are mostly siloed within one of many, closed, proprietary systems. The advent of Web3 technology enables the automation of settlement by smart contracts and the tokenisation of physical asset commerce transactions into a universal standard such as NFTs. Just as decentralized finance's 'money lego' applications have begun to unbundle traditional finance, an ecosystem of decentralized 'commerce lego' protocols and applications will evolve to create an open marketplace for things, where everyone can share in the value they create.

'The data industry will become more inclusive and affordable'

The amount of information - or data - about our universe and about ourselves, has grown exponentially over the past decade. But with enormous growth comes an array of issues: data privacy, management, access, and affordability are some of the biggest areas of debate amongst citizens and leaders alike. Who owns my data? Is my phone spying on me? How much money are companies making from it? These questions are becoming increasingly pertinent as companies continue to collect our data, whether we pay them or not, and with or without our permission. Issues also persist in industries like finance. Why am I paying a fortune for market data? In the next few years, so long as governments allow it, we'll see technology in the dataindustry become more inclusive and affordableas startups enter the space.

'In the future, our focus will be on the human experience'

By 2027, we'll look back at our current digital interactions the same way we see our carbon emissions today. Social media has exposed the perils of technology designed without humans at the centre, and its harmful effects on our mental health and emotional wellness. We're missing what we removed from our interactions a decade ago: humanity, intimacy, depth, and empathy. Real conversations instead of mass influence. Interactions that make us feel closer to each other. In the future,our focus will be on the human experience. The transition to the metaverse will be not a technological but a sociological paradigm shift. The metaverse will be shaped by the communication of our emotions, enabled by technologies such as virtual and augmented reality, and brain-computer interfaces. New hardware, platforms, disciplines, and senses will come into play. We'll redefine social contracts in the virtual world, where emotion, trust, and safety become our most important currencies. We'll decentralize the platform experience in favour of the human being. We'll give our daughter a soothing caress from across the ocean. We'll hold the hand of our grandmother who has passed away. We'll treasure those meaningful moments. Our interactions with others will be centred on our human experience.

'Battery powered construction will underpin sustainability efforts'

The construction industry accounts for almost 40% of global CO2 emissions and much of this is driven by the urbanisation of humanity. Fossil fuels continue to power construction projects, resulting in around half a billion tonnes of CO2 emitted each year. Noise and exhaust fumes from fossil fuel use also negatively affect worker health and local air quality. This is rapidly changing. The industry is adopting battery energy storage systems (ESSs) tailored for construction sites that reduce carbon emissions by 80%-the remaining 20% is the carbon of electricity used to recharge the ESSs. The electrification of mobile construction machinery is also making giant strides towards commercialisation. All of this is driven by advances in lithium-ion battery technology. Looking into the future, long-duration ESSs-which only need recharging weekly, monthly or longer-make off-site recharging from solar or wind farms a real possibility. The world is still figuring out the right technology base for long-duration ESSs, but there are multiple options: flow batteries, non-lithium-ion non-flow batteries, gravity-based ESSs, heat-based ESSs and hydrogen-and a winner, or winners are sure to emerge. In short, the future for how we build cities is charged with potential.

'Building will dynamically respond and adjust to support human wellness and comfort'

90% of life is spent indoors and 50% of carbon emissions are created by buildings. Their impact is simply massive; so is the volume of building data that could be harnessed for better outcomes on people and planet. Today, we see buildings becoming smart and automated through increasingly cost-effective sensors and control points. Properly connected smart buildings can react to dynamics like equipment status, space occupancy, weather and more, using AI to optimize for best impact.Most building systems are still manually controlled, but in coming years, we'll see this status quo totally upended. Building will dynamically respond and adjust to support human wellness and comfort; minimize carbon emissions; and include building-to-building interoperability enabling true metaverse applications for the built environment. Driving this change will be a fundamental transformation in the construction industry; the emergence of digital twin and 5G/6G technology as key tools enabling new ways of assessing and optimizing value over the building lifecycle from design to construction into operations; and growing understanding of energy as a not just a direct cost to portfolio holders, but also a liability for those who cannot keep up with new regulatory and ESG frameworks.

'Grid flexibility will phase out fossil fuels and jumpstart the clean energy transition'

One pressing challenge that lies on the road to a clean-energy future is grid flexibility, and the need for more dynamic interaction between energy supply and demand. As we incorporate more intermittent renewable energy sources such as wind and solar into the power mix, flexible load will be crucial to ensure that the grid can always meet demand. Unlocking a significantly more digitized, decarbonized and resource efficient future by 2025 will be made possible by market-driven software solutions that allow smart energy technologies, such as EV chargers and heat pumps, to respond to real-time grid requirements in targeted areas, optimizing the asset owner's earnings as well as supporting the electric grid when it needs it most. When aggregated together, these distributed energy resources can collectively offer the flexibility needed to phase out polluting fossil fuel-powered peaker plants and jumpstart the transition to the clean energy future.

'People will eat more nourishing food'

Though nourishing, tasty food should be available to wealthy and poor alike, too often there is a great gulf between the "is" and the "should." But there is nothing inherent in capitalism or the profit motive that demands the divergence. Good news is in the wind: thanks in part to new processing methods for healthy sugar or salt alternatives, good food will become an accessible, ubiquitous option for all consumers. People will eat more nourishing food even if in some cases they do not realize it - because cost and taste will be at par with less healthy, legacy foods. In the best of cases, production assets for questionable food ingredients (e.g., high-fructose corn syrup) will be redeployed for healthy counterparts. Finally, in a virtuous circle, global reductions in diet-related healthcare costs will have a deflationary effect on food prices, and global alleviation of health-related suffering will free individuals for inspired innovations that benefit humankind and the earth.

'Central bank digital currency will revolutionize the financial system'

Inga Mullins, Founder and Chief Executive Officer,

A new digital form of a country's fiat currency issued directly by a nation's monetary authority or central bank is predicted to have one of the biggest disruptive impacts over the next 3-5 years. This form is referred to as a central bank digital currency (CBDC). When underpinned with blockchain technology, a CBDC has the potential to revolutionize the financial systemand pave the way to increasing financial inclusion and improving the lives of billions of people globally by providing access to cheap and affordable financial services. Due primarily to its architecture, a well-constructed CBDC can support offline payments, shielded transfers, automation throughout the programmability layer, and possess cash-like properties. All these features when taken together will foster financial inclusion of the user by providing them with a digital alternative to physical cash, enhancing access to their money even in remote areas, and providing options for those that are currently unbanked. Innovative payment platforms will provide an on-ramp for building CBDC and bridging them together to existing payment networks, including both traditional banking and alternative finance. For banks and issuers, they'll be able to integrate their existing infrastructure and be able to provide a broad spectrum of CBDC-linked payment-related services and exercise cross-chain interoperability protocols for universal payment access to digital national currencies, stablecoins, NFTs, the Metaverse and much more.

'Supply chain intelligence will solve the food crisis'

Julie Gerdeman, Chief Executive Officer, Everstream

Several decades of accelerating climate change, a global pandemic, conflict, and fragmented supply chains impacted food production and distribution, driving the global food crisis to catastrophic levels. By 2027, major food, beverage, and consumer packaged goods manufacturers will use AI-driven supply chain technology to see future disruption and act before weather, labour issues, and other incidents can harm the global food supply. Contingency plans will be needed far less often because companies will have advanced insights exposing how future weather events will impact their suppliers, giving them ample time to find alternatives. They will predict spikes in commodity availability, change their purchasing habits and reformulate their products so shelves remain stocked. Food spoilage and waste during transit will no longer be a problem because manufacturers and shippers can spot unusual weather, labour issues, and other stoppages well in advance. Food distribution to remote locations that need it the most will no longer be delayed due to port and road closures. Predictive supply chain technology will enable companies to shift from reactive response to proactive action, keeping store shelves stocked and food flowing worldwide.

'AI will reinvent how we think about education'

Asude Altintas, Co-Founder and Chief Executive Officer, Twin Science

The traditional education system was invented nearly 200 years ago to meet the needs of the industrial revolution - it is not functional today. Today, the needs of our world have been gathered under the United Nation's Sustainable Development Goals. On the other hand, 21st-century skills that will serve these needs are listed by the World Economic Forum. The younger generation already has the desire to co-create solutions to the world's biggest problems and create a more compassionate world. Technological progress is a great chance to help every child develop skills and competencies to solve these problems and build a better future. AI will be used to understand children's own interests to suggest the next step in their learning journey. AI will also generate insights for their parents and teachers and will turn them into mentors. The internet is already connecting children with the best experts, improving the quality of education and reducing inequalities. Every child will be able to ideate, prototype, test and iterate in a cost-effective way. In this way, they will innovate and improve the well-being of the world.

'Technology will bring the best opportunities to the best talent'

Projjal Ghatak, Chief Executive Officer and Founder, Onloop

The one sector that has gone through breakneck change in the last two years is the workplace. Office work has been the default for knowledge workers for decades and did not warrant a full re-think until the pandemic. The pandemic tested it to its fullest but although we saw flat to increased productivity, the loss in cultural connectivity and an increase in anxiety, fatigue, apathy and burnout are all also some of the effects being felt. In a pace of rapid change, it is hard to parse out each piece independently. The pandemic also lasted long enough to truly change the talent landscape for many companies to a permanent global and hybrid one. This means that companies can seize the day in thinking about a global talent market to tap into in a realistic fashion. So, if I had to be provocative, I would saythat technology is going to be a true leveller. It will bring the best opportunities to the best talent irrespective of where they live thereby truly unlocking the full potential of a billion knowledge workers.

'Advanced manufacturing and fashion technology could digitally transform the apparel industry'

Transforming the apparel industry with localized, on-demand manufacturing. The apparel industry is riddled with excessive waste and supply chain challenges. Today, most brands and retailers are forced to mass-produce goods with limited consumer input, resulting in high merchandise return rates, waste from overproduction, and lower profit margins due to deep discounts of unwanted merchandise. And while on-demand apparel and footwear are believed to be a solution, traditional manufacturing models still require months of lead time and hundreds of miles of travel between order and delivery - a problem which has only been exacerbated by global supply chain instability. Advanced manufacturing and fashion technology can digitally transform the apparel industry by bridging the gap between creators, consumers, and local manufacturers. It can play an important role in producing custom goods locally, resulting in dramatically reduced turnaround times - days, not months. This innovative model has the potential to not only reduce the environmental footprint of the fashion industry but also improve supply chain security on a global scale. It's a promising solution that can be achieved with an open platform that unites best-in-class partners for the greater good of the apparel industry, and the world.

'The quantum internet is coming'

Jim Ricotta, Chief Executive Officer and Chairman, Aliro Quantum

The quantum internet is coming, and it will revolutionize the world just as the classical internet has. And just as classical networks enabled today's internet, quantum networks are required to build the quantum internet of tomorrow. The quantum internet is expected to have a profound impact on how we live our lives by enabling breakthroughs in energy, medicine, material sciences and more. In the next five years, we will see quantum networks emerge from local area networks and clusters into continent-scale area networks using quantum repeaters, which are the foundations of the quantum internet. As a result, we'll see more and more use cases emerge for quantum networks. For example, quantum secure communications leverage the power of physics to enable unhackable security. Distributed quantum sensing will enable ultra-high-resolution telescopes, as well as ultra-precise clocks and GPS. And to make the power of quantum computing useful, clustered quantum computing and ultimately distributed quantum computing will enable the quantum internet.

'AI will power clinical decision making in fertility clinics around the globe'

Paxton Maeder-York, Chief Executive Officer and Founder, Alife Health

Between now and 2030, over one billion people will suffer from infertility. As global population growth slows and drops below the replacement rate, utilizing AI-enhanced fertility treatments will help support the creation of new families and future generations. The most common infertility treatment today, in-vitro fertilization (IVF), is expensive, often requires multiple attempts, and is both physically and emotionally onerous. Successful pregnancies from IVF rely on a complex set of clinical decisions made by physicians to deliver the optimal care for each patient. The use of technology and advanced analytics to support this decision making will lead to improvements in care efficiency, clinical success rates, and personalization of treatment methods. By 2027, AI will power clinical decision making in fertility clinics around the globe, enabling physicians to deliver a new level of precision medicine to improve outcomes and expand access for patients.

'Human potential will be re-directed towards more meaningful objectives'

Gabriel Safar, Co-Founder and Chief Executive Officer, LeasePilot

Documents as technology have served businesses well for centuries. In modern times, email may have replaced the need for a courier and documents may be stored electronically, but the underlying technology itself hasn't changed. That's a problem since documents are fundamentally an analogue technology and today's world is digital. Computers aren't very good at manipulating natural language (analogue), but they are great at manipulating information in a database (digital). So, taking a data-first approach to constructing agreements opens the door to hyper-efficient transactions facilitated by computers. By converting agreements into structured digital information, software can assemble, manipulate, store, share, and understand these agreements in ways that weren't previously impossible. When done successfully, the end-user sees a document written in natural language and is able to edit the text of the agreement in the same way that they would in a traditional word processor. But behind the scenes, the agreement is still a collection of database values which are updated to reflect the user's interactions with that document. Ultimately, the impact will be a future with radically more efficient markets that free up massive amounts of wasted human potential to be re-directed toward more meaningful objectives.

'Remote sensing data streams will accurately monitor natural ecosystems'

Kevin Lang, Chief Executive Officer and President,

To achieve the United Nations goal to reach carbon neutrality by 2050 and keep global warming below +1.5 °C, nature-based solutions to restore, conserve or enhance forests or agricultural lands are a valuable contributor to removing carbon dioxide from the atmosphere and capturing it into the soil. However, to determine the impact of these solutions, measurements such as tree height, trunk diameter and biomass are required to accurately quantify the carbon stock potential in plants. These measurements are traditionally assessed through labour intensive and subjective manual methods. With the increased demand for credible carbon credits along with a heightened need for transparency, remote sensing data streams from high-resolution cameras and lasers (i.e., LiDAR) are enabling new scalable and efficient digital measurement techniques. Satellite imagery is increasing in resolution and frequency as more constellations enter into orbit. Rapid advances in smartphone optical sensors and positional systems provide extensive access for growers and conservationists to affordably capture rich datasets. These data sources, combined with cloud data processing, artificial intelligence and data fusion will empower accurate measurement and monitoring of plant health and carbon sequestration potential for natural ecosystems.

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17 ways technology could change the world by 2027

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We asked the World Economic Forum's new class of Technology Pioneers for their views on how technology will change the world in the next five years - this is what they told us.

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The Role Of Technology In The Future And Its Impact On Society

In only a few short decades, technological innovation has altered every aspect of human existence. Technology has played a crucial part in developing the modern world, from the development of the wheel to the most recent advances in artificial intelligence.

Our lives have gotten simpler, more productive, and more interconnected as a result of technological advancements. Technology has brought about many good improvements that have altered the way we connect and the environment, from cell phones to virtual reality to artificial intelligence.

However, technology's effects on society have not always been beneficial. Despite its many favorable effects, it has also generated undesirable side effects that must be handled. Some of the negative effects of technology on society include technological dependency, cyberbullying, and privacy invasion. The increasing use of automation and AI has sparked worries about the loss of jobs and the widening income divide.

The future of technology appears even more interesting in light of the constant emergence of new technologies. While these innovations may usher in welcome improvements, it is essential that we not lose sight of the risks they may pose and take measures to mitigate them. Some of the most important technological developments that will define our world in the next years will be discussed, as will the good and negative effects of technology on modern society.

Future Of Technology:

1. Artificial Intelligence

One of the most fascinating developments in modern technology is artificial intelligence (AI). Voice recognition, picture identification, and NLP are just a few of the domains where AI has made great strides. Yet AI has many more promising applications than that. AI might significantly alter the healthcare, financial, and transportation sectors. It also has the potential to aid in the fight against climate change and extreme poverty.

2. Internet Of Things

The term "Internet of Things" (IoT) describes the global system of interconnected computing devices that can exchange data and instructions through the Internet. Many sorts of sensors, from those used in industry to those in the household, fall under this category.

There has been a lot of success with the IoT in automating homes, controlling energy usage, and improving transportation. The Internet of Things (IoT) is now pervasive, and it is anticipated that this trend will only accelerate in the years to come.

3. Augmented And Virtual Reality

Both augmented and virtual reality have seen significant growth in interest over the past several years. The goal of both virtual reality (VR) and augmented reality (AR) is to allow users to interact with digital information superimposed over the physical world.

Uses for these technologies may be found in entertainment, instruction, and medical treatment, among others. Virtual and augmented reality experiences are anticipated to be ever more realistic and immersive.

4. Blockchain

Bitcoin and other cryptocurrencies rely on the underlying technology known as the blockchain. Nevertheless, blockchain technology may be used for more than just cryptocurrencies. Blockchain is a distributed ledger that facilitates safe data storage and transfer. Financial services, healthcare, and supply chain management are just a few examples of sectors that might benefit greatly.

5. 5g Networks

The fifth-generation (5G) mobile networks will be significantly quicker and less laggy than the existing fourth-generation (4G) networks. New uses, including autonomous vehicles, smart cities, and telesurgery, may be made possible by 5G networks. In some regions of the world, however, infrastructural issues have slowed the introduction of 5G networks.

6. Quantum Computing

Computing in the quantum realm involves the application of quantum mechanical concepts to the computation process. Problems that are now intractable with classical computing may be amenable to solutions with quantum computing.

The creation of novel materials and the simulation of complicated chemical events are only two examples of how quantum computing may be put to use. But in its infancy, quantum computing faces several technological hurdles that must be conquered before it can be broadly embraced.

7. Biotechnology

Innovations in industry and medicine that make use of biological systems, cells, and creatures are called "biotechnology." Medicine, farming, and even power generation are just some of the many fields that might benefit from biotechnology. When new illness remedies and cures are discovered, biotechnology is poised to play an increasingly larger role in people's lives in the years to come.

8. Robotics

Automatic devices that can carry out certain tasks are the focus of robotics research. Several industries could benefit from the use of robotics, including construction, medicine, and transportation. There is hope for the future of robotics in creating machines with human-like cognitive abilities.

9. Cloud Computing

Computing in the cloud involves transferring data to and storing it on remote servers. Data storage and retrieval have been completely transformed by cloud computing. As more and more programs and services are built to take use of cloud computing, its prominence is only projected to grow. Cloud computing, for instance, may run AI programs like voice assistants and picture identification services.

10. Cybersecurity

Cybersecurity is becoming increasingly crucial as the prevalence of technology grows. Cybersecurity is the practice of keeping computers and networks safe from intrusion via electronic means. The prevalence of cyber threats suggests that protecting data will only grow in significance.

Impact Of Technology On Society

Positive Impact:

1. Better Communication

The advancement of communication is one of the most noticeable benefits of technology to modern civilization. Thanks to technological advancements, we can now send and receive messages instantly and with greater ease.

People from all over the world can communicate with one another because of the widespread availability of social media, messaging applications, and video conferencing technology. Because of this, people can maintain relationships with their loved ones, expand their social circles, and form communities with shared interests and values.

2. Enhanced Information Access

With the advent of the internet, formerly inaccessible knowledge is now at everyone's grasp. The Internet has made it possible for anybody to gain exposure to new ideas, practices, and perspectives with only a few mouse clicks.

Hence, people are better able to pursue knowledge on their own time and widen their perspectives. Also, this has aided in the spread of knowledge in vital areas like health, science, and politics, allowing for more well-informed citizens.

3. Increased Education

Because of technological advancements, learning is now more convenient and productive than ever before. As e-learning platforms proliferate, students no longer need to be physically present in a classroom to benefit from its content.

As a result, students may now study whenever and wherever they like, making for a more adaptable educational system. Interactive learning technologies, such as simulations and virtual reality, have also been developed thanks to technological advancements, which make education more interesting and useful.

4. Efficiency Gains

Thanks to technological advancements, a wide variety of tasks may now be completed more quickly and with less material waste. Companies may save money and boost production by using robots for routine activities like data input and manufacturing. Because of this, businesses have been able to expand their offerings, boosting the economy and leading to the creation of new jobs.

Negative Impact:

1. Reduced Social Engagement

While technology has made communication easier, it has also reduced the need for interpersonal contact. People's reliance on electronic means of communication has increased alongside the proliferation of social media, making them less likely to conduct significant face-to-face exchanges. Because of this, many people are feeling lonely and isolated, which can have serious psychological implications.

2. Screen Time Increased

Screen time has grown as a result of technological advancements, which can have harmful impacts on both physical and mental health. Eye fatigue, back discomfort, and trouble sleeping have all been associated with excessive screen usage. In addition to the negative effects on health and relationships, addiction may develop when people spend too much time in front of screens.

3. Job Displacement

Jobs have been lost due to automation because robots and software can do the labor formerly done by humans. Because of this, many individuals have lost their employment or are struggling to make ends meet. There are now possibilities in areas like artificial intelligence and robots thanks to technological advancements, but many people are finding it challenging to make the shift.

4. Privacy Issues

Privacy issues have surfaced as a result of technological advancements, as private information is increasingly mined for profit and political gain. This has raised concerns about security breaches, theft of personal information, and governmental snooping. There have also been concerns raised regarding the morality of social media's data practices, which have led to criticism of the platforms.

Final Words

The state of technology in the future is exciting and dynamic. Artificial intelligence, the Internet of Things, augmented and virtual reality, blockchain, 5G networks, quantum computing, biotechnology, robots, the cloud, and cybersecurity are just some of the most significant technological breakthroughs that will alter our world in the next years.

While there are many positive outcomes to the widespread use of these technologies, there are also negative outcomes, such as technology dependency, cyberbullying, and privacy violations, that must be addressed. Better communication, easier access to information, more productivity, and higher quality healthcare are just a few of how technology has benefited civilization.

Nevertheless, technology has the potential to reduce employment opportunities and increase the economic disparity. It is vital that we, as a society, remain aware of these hazards and take steps to reduce them while still enjoying the advantages that technology provides.

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The Role Of Technology In The Future And Its Impact On Society

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This piece looks at how technology affects society and shapes the future. It talks about the good and bad things that come with modern progress.

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1. How can technology be leveraged to enhance disaster preparedness, response, and recovery efforts?

2. What are the potential societal impacts of widespread adoption of biometrics, facial recognition, and other surveillance technologies?

3. In what ways can technology contribute to solving urban challenges and creating more sustainable, smart cities?

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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. We looked across all the top technology publications and below are some of the most interesting top technology trends we see coming in the next several years.

Expansion Of The Metaverse

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 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 digital 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.

Virtual and Augmented Realiy

Augmented reality and virtual reality are two sides of the metaverse. Augmented reality could increase advertising space in the real world with new special glasses. Virtual reality would in itself create a whole new digital area for advertising. The technology still has some catching up to do until it could be considered one of the rapidly emerging technologies.

The big driver of the Metaverse experience is gaming trends. 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. This also begs the question: what is reality? And, will virtual reality take over the real world? Real estate in metaverse is a trend within the reality environment. Put on your glasses to see your virtual real estate mansions. Booming real estate businesses within the virtual environment are fresh and new.

So, why is the Metaverse part of the tech trends? It could be summarized with this one point: we could eventually get to the point where people live most of their lives in the Metaverse. The expansion of the Metaverse is one of the bigger technology trends.

Edge Computing

One of the major concerns for many organizations today is the lag that can affect trends in in how operations are managed. That is why many industries are concentrating on how efficient and responsive computers are so data can be analyzed as quickly as possible. This is where edge computing comes into the picture.

Edge computing brings computer processes and data storage technology closer to organizations and reduces response times and lowers the amount of bandwidth used.

Some advantages of edge technology that we will see in the future trends are:

Boosts cybersecurity to a new level by reducing problems with privacy regulations, local compliance, and the sovereignty of data. While many think that edge computing makes the possibility of cyberattacks more likely, the truth is that it reduces the impact on the organization if an attack occurs.

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. Data analysis is limited to the edge, so processing speeds can be massively accelerated.

Reduces the cost of keeping the data by categorizing it according to a management point of view. Data can be kept on locations on the edge so it reduces the cost of bandwidth.

How can your companies use edge computing? How can the adoption to this new technology created global strategic innovations of the decade? Greater growth in data and analytics for industries following these new technologies is certain.

Edge computing is another one of the very promising technology trends of 2022.

Drones

Many people think drones will be much more common by upcoming trends in 2024 and 2025. Right now, drones are mainly used only by videographers and photographers. But soon, trends say drone technology 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, trends say 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. Drones could also be used as part of connected devices too. Connecting and remotely controlling a drone from a phone, or other digital device is not even a future trend anymore.

There will be a time soon when none of us can go through a day without seeing a drone. Distributed swarm drones may fly across neighborhoods and cities delivering packages, food, and more. This leaves room for new companies, business, and technologies to help fuel this trend. Think about how there might be a need the future of mailboxes to have drones deliver. Adoption requires a new stream of future technology and companies too.

Recreation drones are getting more advanced too! We made a list of the best drones that our experts found from across the internet.

While drones have been around for awhile, their use cases are expanding rapidly, making them another big leader in technology trends.

Blockchain

Many of us only think about blockchain technology in terms of cryptocurrencies such as Ethereum and Bitcoin. However, blockchain technology offers many types of security that are beneficial in other areas.

Blockchain is data that only can be added to and cannot be taken from or changed. Because the digital data cannot be changed, it makes it extremely secure. Also, blockchain sotware 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 or the total software.

Adoption of Blockchain Businesses Models and Services

Blockchain will also create new business models that have not been thought about. With increased ownership over new digital world organizations, products and services can be created and sold in unique ways.

Blockchain is one of the technology trends that is ever-expanding into digital use cases from finance to healthcare to beyond. This is an emerging technology in the digital world.

AI

Artificial intelligence (AI) will grow by leaps and bounds in the next few years. Recently, the idea of AI technology has advanced as researchers and data scientists have found more innovative ways to use the tech trend.

We think one area that will expand rapidly for Artificial Intelligence (AI) is for consumers. A great example of this is the Teak Smart Cube - an AI driven power adapter designed to help users save on energy bills. The teak outlet is a breakthrough technology trends that is utilizing versatile hardware and smart software to turn the energy consumers of today into conservers of tomorrow. With AI and a clever hardware design, it will make your home smarter, energy bill smaller, and the planet greener. A growing worry of AI replacing human jobs will increase in the next decade. Human beings will need to resort to what we do best with emotions and creativity. This will be the decade of robot and human interaction and collaboration. Both a decade of fear and promise for the human generation.

Machine Learning

A major contributor to the development of machine learning technology is the advancement of chip design and access to data. Computing power has grown enormously. Data has become the new business currency. Trends say the future of many industries is connected with data and access to data. Smart sensors build data, as machine learning algorithms utilize it to learn like a human would. The development of data is not cheap, though. That is why the internet of things can help aid in the access of data. How can these new analytics boost our understanding of the world and business? This trend and other technologies all weave together in this day and age.

Machine learning and Artificial intelligence are technology trends that will not go away anytime soon.

Cloud Computing

Cloud computing trends 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 (which we detail on this list) and fog computing. Fog computing bypasses the challenges with cloud computing technology not being able to process massive amounts of data in a short time.

Fog computing moves every function the network's edge so speeds are much faster. Cloud computing, and third-party cloud computing, is one of the technology trends carried on from the last six years,

Robotic Process Automation (RPA)

RPA, like machine learning and AI, is another emerging top technology trend 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 technology will essentially automate common tasks that people once did by hand.

3D Printing

Advanced 3d printing is another item within this realm of emerging technologies, 3d printing poses the question: can you manufacture without the heavy manufacturing processes normally required? Robotic process automation in 3d printing technology might make manufacturing things as simple as asking a machine for a part. Many of the global trends have a trend within a trend, making it important for the business world to adopt these top trends.

Some sources estimate that the emerging technology 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 technology jobs, and it is believed that most jobs can only be partially automated, not entirely replaced.

Tech professionals who want to learn the ins and outs of RPA will find jobs as RPA developers, analysts, and architects. Robotic process automation is a massive upcoming part of future technology trends.

5G

No list of emerging top technology trends is ever complete without talking about 5G. This is the new generation standard in mobile comms 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, with current technologies, the networks are starting to go online and 5G is offering much faster speeds on mobile devices and Internet connections are more reliable. The smart 5G networks are going to expand the internet of things.

IoT Devices

With so much more wireless bandwidth available, it's 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. With the role-out of 5G around the country, 5G technology takes a place as one of the top technology trends of 2022.

Quantum Computing

Quantum computing is a type of computing that uses quantum principles including quantum entanglement and superposition. This intriguing science 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. What does that say about our personal data and how it is utilized, though?

Quantum computing technology also should be of use in the future trends in finance and banking to reduce credit risk and detect fraud. Its effect on science is another related trend for the software. Think, expanded science can mean expanded industry and growth.

Quantum computers are now much faster than conventional computers and large brands of computers are now making significant advances in quantum computing. The quick advance of quantum computing has granted a big spot as part of the top technology trends of 2022. Does your business want to invest in a quantum computer?

This list of top 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.

By the time another five years passes, it's hard to imagine how much more advanced technology trends will be but we are sure it will be impressive!

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Top 9 Technology Trends In The Next 5 Years

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Follow these top technology trends that will impact your world over the next five years. Click here for more detail!