As we move ahead in time, it is easy to get intimidated by the emerging tech trends that are reshaping the way we do business. These emerging trends have proved that one thing is forever constant, and that is change. It is quite evident now that the tech industry is poised to grow rapidly and bring transformative changes. McKinsey and Company, an American multinational strategy and management consulting firm, mentioned they could also witness “more meaningful tech trends,” signifying that something significant is happening.
These tech trends are accelerating the primary characteristics of the digital era: granularity, speed, and scale. However, the changes in the magnitude of computing power, bandwidth, and analytical sophistication have now opened up the door to new innovations, businesses, and business models. For example, the emergence of quantum technology has significantly improved computational power, whereas the emergence of 5G has given a significant boost to network speed that will spark a new wave of innovation.
In today’s blog, we have brought you the top 3 tech trends that will reshape the business
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3 Emerging Tech Trends
The COVID-19 pandemic was the disruptive event that catalyzed the development of these tech trends. Businesses fast-tracked their major investments in technological software development and arrived at their desired results ahead of schedule. Let’s check these trends one by one:
#1 Quantum Technologies
“I think I can safely say that nobody really understands quantum mechanics,” – Richard Feynman, Nobel laureate
Quantum technology uses physics principles to exploit subatomic particles’ properties to solve seemingly hard-to-control problems. As quantum technology continues to develop, tech giants, governments, and startups will soon find a way to commercialize it. Most probably, quantum tech trends will be used in the following:
- Quantum Computing: It is the most probable tech trend that might emerge because quantum technology will enhance the computational power of computers by manyfolds. Any guess how much? A quantum computer can solve a complex set of problems in many ways in just 5 minutes, which would otherwise take thousands of years for traditional supercomputers.
- Quantum Communication: Another application of quantum technology that can greatly shape the businesses of the future is quantum communication. These new tech trends are poised to improve cyber security by developing an abstract, temper-proof network for blocking and tracking any kind of interception and eavesdropping.
- Quantum Sensing Devices: Quantum technology can exponentially improve the way sensors work; quantum sensing devices offer more accurate analysis, more efficiency, increased portability, and more. Industries like health, energy, transportation, etc., will benefit the most from this.
#2 Exponential Intelligence
Emerging technological trends have completely transformed business intelligence software from descriptive to predictive. Traditional business intelligence software, such as Microsoft Powerbi, Tableau, etc., is used to collect, store, and discover the correlation between data sets. However, upcoming technologies, such as automated machine learning platforms, use advanced predictive algorithms to predict future trends.
As these technology trends transcend their roles from analysts to predictors to actors, the type of data companies are collecting is also changing. As these technology trends continue to rise, companies have started collecting more and more data on human behavioral patterns, from your smile to language usage. These models will then use this data to replicate and understand human emotional responses and intents easily. These trends are not going to happen in the future; they are happening now; most AI-powered companies are now using machine intelligence that replicates human thinking and makes decisions accordingly.
#3 Ambient Experience
In the last two decades, we have witnessed the growth of mobile phones and how they have impacted our daily activities. With the introduction of powerful devices and fast networks, we are now completely surrounded by digital information. However, ambient experience envisions a future far beyond screens for performing tasks; it aims to cater to your needs without even saying that. Voice assistants like Siri, Google Assistant, etc, have come a long way however, they are not perfect yet. They dutifully respond to your commands and instructions only when spoken to them, but this is not what these assistants truly aim to do. They aim to anticipate our intentions and provide their assistance based on their understanding of us. These emerging tech trends in ambient experience aim to drive simplicity and reduce friction in user experience. As these technology trends develop, a voice, gesture, or glance could signal an intent and initiate an exchange of business-critical information.
80/20 Rule For Business Owners
According to Harvard Business Review, companies generally invest 80% of their capital in existing technology, while 20% invest in tech trends. As a business owner, keeping your eyes on the future and your feet in the present becomes crucial. By doing this, business owners like yourself can create tech-forward strategies today to compete, lead, and advance their businesses tomorrow.
