If there is something that is always evolving and advancing, then a no doubt answer is technology. The popularity of technology depends on factors such as its usage, advantages, user-friendliness, ROI (Return On Investment), etc.., Also if industries taste success with the use of any latest technology, then that technology becomes more successful and popular.
Can we sense and act upon these future tech trends that is unclear? The great news is that this technology penetration is highly understandable and knowable. Some technologies have made their mark in the year 2018 and many more to hit this year 2019. These top emerging technologies change the way we work and interact with others.
In this article, we are excited to tell you about our Top 10 Technology Trends For 2019 and the bets we have made for these Future Technology Trends. Let’s explore the whole new tech trends.
1. Artificial Intelligence
Artificial Intelligence refers to the imitation of human intelligence by computer systems. In short, it is a robot that can think on its own. Right from SIRI, OK GOOGLE to self-driving cars, AI is progressing like anything with jillion possibilities. Interacting with AI very often will soon become one of our daily activities. AI is being used in bomb defusing, visual search, chatbots, automated product tagging, etc..,
Future Of AI And The Jobs They Create:
AI can increase the efficiency, productivity, and the accuracy of an organisation. According to a report, AI technologies can improve the GDP rate by 15% within 2030. Application of AI in education will be increased to 48% by 2021.
When it comes to employment in AI, AI will create a million more jobs than it will destroy. Jobs in AI also depends on how well humans and AI blend to create augmented hybrid terms. According to a report by Gartner, AI eliminates 1.5 million jobs creating 2.3 million jobs. Further, according to an expert report, AI-human collaboration role can boost the employment rate by 10% within 2020, and to 25% by 2030 because of the combined advantages of the duo AI and Human.
Strengths of AI: Speed, accuracy, computation, etc..,
Strengths of human: Cognition, Empathy, Judgement, etc.,
Employees who use services like Alexa For Business, Google Duplex, etc.., use Alexa as their intelligent assistant to be more productive in their work. Hence companies need AI developers and engineers to maintain their systems.
AI Roles that will be in massive demand in the future:
AI Facilitator, AI Robotic Engineers, AI-assisted health care technicians, AI-gaming developer jobs, AI jobs in financial service, and a jillion are awaiting you.
2. Internet Of Things
In the present scenario, businesses are becoming more dynamic in adapting technology as per the need. Internet Of Things means interlinking people with all the digital devices and machines (things) using a wireless connection. IoT enables data transfer via devices, home appliances, cars, etc.., through the internet, and surprisingly, we are still in the beginning stage of IoT.
Amazon Go (No-cashier retail shopping), driverless cars, smart homes, smart hotel rooms, smart lock, smart bulb, smart security systems, smart mirrors, etc.., all these come under the category of IoT.
Example Of IoT In Real Life (With Amazon Go): After the successful online store, Amazon decided to use IoT to its retail outlets. A store with no cashiers, no cash counters. The outlet will have shelves of products arranged like that in a supermarket. Once you pick a product, the sensors add them to your cart, and when you keep it back, it gets removed from your cart. Walk out of the store with your required products and the money is deducted from your Amazon Wallet. So cool! This is one real-time application of IoT.
Future Predictions Of IoT And The Jobs They Create:
Consumers are pleased with self-tracking using external devices and playing games using augmented reality devices.2019 is termed as the year of ‘IoT’, Internet Of Things. According to IDC (International Data Corporation), by the year 2020, 212 billion devices will be hooked up to the internet. An article survey says that there is a demand for 200,000 skilled IoT professionals by 2022. Industries such as smart homes, building, vehicles, healthcare, agriculture, supply chain, manufacturing, energy industries, etc.., are in a colossal lookout for IoT Developers.
IoT generated global revenue of $4.8 trillion in 2012, with an expected surge rate of 7.9% through 2020. So, if you are inclined towards this technology, then it is a real boon to you. Start to boost up your skills to become an in-demand IoT Developer.
Skills Required For An IoT Developer:
BlockChain grants security that is useful in many ways. In more simpler terms, blockchain can be described as data you can only add to but not take away or change. Since one cannot change the previous blocks of data but can make a chain of data by adding, hence the term “chain”. The blockchain contains a timestamp that is used to record details like the time at which the block was created or edited and the information that needs to be recorded.
With blockchain, there is no need for you to trust a third party to oversee or validate your transactions. This high-end security is the reason why blockchain is used for cryptocurrency and storing personal medical data. It can further be used to protect data related to art, real estate; storing government records like business registrations, marriage certificates; etc..,
Future Predictions Of Blockchain:
As the usage of blockchain technology is on an increasing trend, the demand for skilled professionals (blockchain developers) in this field is drastically increasing. Industries such as retail, healthcare, manufacturing, and financial institutions require professionals equipped with this blockchain technology. According to Gartner, by 2020, banks would derive a business value of $1billion using blockchain. The average salary of a blockchain developer ranges between $100,000 to $130,000.
Blockchain Jobs That Will Be In Demand:
Roles such as software engineers, consultants, project managers, etc.., related to the technology of blockchain will be in huge demand.
4. Robotic Process Automation(RPA)
Robotic Process Automation(RPA) is software that is designed to automate simple repetitive tasks, which in turn saves a worker’s time, thus reducing the labour cost and need. To curb the monotonous tasks of the employees and to utilize their creativity, uniqueness, and abilities, this popular in-demand technology is now being adopted in various modern enterprises such as banking and finance, insurance, telecom, healthcare, and etc.., because of its benefits such as fewer errors, improved customer experience, less cost, better compliance and etc..,
To automate complex tasks, RPA is coupled with AI and machine learning. According to the new report by Grand View Research, Inc., the global RPA market is expected to top $8.75 billion by 2024. The average salary of RPA developers in the USA is 30% higher than that of general programmers and is $107k.
Scope Of RPA In The Near Future:
RPA will be widely used in domains and industries like data entry, data rekeying, manufacturing, computer-aided process with protocols, analytics, aviation, oil, BFSI, retail, gas, formatting tasks, etc..,
Scope Of RPA In the Long Run:
With the emergence of Smart Process Automation, the next stage of RPA will start including either AI concepts or machine learning, etc.., to improve more refined processes making the growth in the field of RPA a sure shot one.
According to Daniel Dines, CEO, and co-founder of UI path, RPA will generate nearly 2lakh jobs by the end of 2021. Since the mindset of Indians is apt for this technology, Indian RPA talents will be in huge demand.
5. Cyber Security
Cybersecurity, which can be termed as information technology security, refers to a set of practices designed to protect either a network or a device or program from an attack or unauthorised access.
Future Predictions Of Cyber Security:
Keeping recent data breaches that have been performed by the tech industry big wigs, the global data protection regulations were remapped. This has increased the demand for cybersecurity personnel who can cope with all these stages and keep the company free of any compliance issue.
Since organisations like the military, finance, medical and corporate collect and store sensitive intellectual information for which unauthorised access, cyber attacks, digital spying are the topmost threats, safeguarding them with cybersecurity is highly mandatory. Since the existence of hackers is never ending, cybersecurity will always be an emerging technology.
Cybersecurity jobs are growing three times faster compared to other tech jobs. It is estimated that 3.5 million cybersecurity jobs will be in demand by the end of 2021. The average pay of a cyber-security engineer is $93,428 per year.
Skills required: Digital communication, Networking, and Risk analysis will help you to land up in a job in this field. Senior Analyst and Compliance officer positions jingle your pockets with loads of money.
6. Machine Learning
Machine learning or ML, considered as a subset of AI, is a technology wherein computers are programmed to learn to do something for which they are not programmed. Machine learning applications are used for pattern recognition, data analytics, and data mining. The subsets of machine learning include neural networks, deep learning, and natural language processing (NLP).
Future Predictions Of This Technology:
Machine learning is being deployed in all kinds of industries, which is further creating a massive demand for skilled professionals. The market for ML is expected to grow to $8.81 billion by 2022.
Apart from completing several tasks on our behalf, it generates a stream of job opportunities. With almost thousands of job postings listed on LinkedIn, ML tops the list of emerging jobs. These jobs include engineers, researchers, data scientist, and developers. The average pay for a Machine learning professional is $110, 000 per year.
7. AR and VR
Virtual Reality immerses the user in an environment, whereas Augmented Reality enhances that environment. These two terms are hot topics right now in the field of marketing and advertising. Pokemon Go is a popular game which is based on AR. Gaming is a driver of these technologies.
Future Predictions Of AR and VR:
VR is used in the field of training with VirtualShip, which is a simulation software used to train the Coast Guard Ship Captains, U.S Army, Navy, etc.., AR and VR have enormous potential in the fields like engineering, education, entertainment, training, marketing, defence, and other fields.
AR or VR can be used to offer a more in-depth experience to museum-goers, enhance theme parks, enhance marketing (Pepsi Bus Max Shelter forms a quite good example for marketing with AR and VR), train doctors to do surgery (healthcare), etc..,
https://www.youtube.com/watch?v=Go9rf9GmYpM (Tried to include this video, but wanted to confirm.)
By the end of 2020, the estimated combined market value of AR and VR will be around 215 billion USD. The demand for this AR and VR technology is up to 37%, which is increasing every day. Google, Oculus, and Samsung are the major players in the VR market right now; But there are numerous start-ups that are focusing on building self-driving cars, 3-D immersive cameras, building virtual limbs, creating wearable tech for gaming, etc.., Hence right from real-estate to healthcare, industries are looking for skilled professionals in AR and VR. With fundamental programming skills and a forward-thinking mindset, one can quickly start their career in VR. Opportunities in this high-technology sector are only increasing – and that’s not at all an illusion.
8. Quantum computing
Quantum computing differs from classical computing in one fundamental way, ie.., the way the information is stored. It uses the quantum-mechanical phenomena such as entanglement and superposition to perform computation. Because of this, one ‘unit’ can hold much more information compared to classical computing.
Quantum computing has an endless list of mind-boggling applications. Industries such as finance, insurance, automotive, pharmaceutical, military, and research have the most to gain from the advancements of Quantum Computing.
It is used to optimize radiotherapy which further optimizes cancer treatment methodologies, to analyze the traffic flow and suggest the best route, for better mobile data coverage, to generate more efficient relevant customized advertisements to customers, quantum cryptography, weather forecast, gaming, boost AI research and etc.., Microsoft CEO Satya Nadella stated that Quantum Computing is going to shape a lot of technology in the future.
9. Edge Computing
With the growth of IoT, edge computing will become more popular. Industries are moving to edge computing from cloud computing. Today, billions of devices are producing data at an explosive pace. Hence the quantity of data that needs to be dealt with is increasing day-by-day. Since there are many limitations to cloud computing, edge computing is designed to solve all those problems. Hence these are treated as mini datacenters. Edge computing speeds storage, processing, and analysis of data, which ultimately drives better performance, faster response time, and more significant innovation.
Future Predictions Of Edge Computing:
It takes only a few milliseconds to perform an action through edge computing. Because of this reason, by the end of 2019, enterprises will shift to edge computing from the cloud, and by the end of 2022, all digital businesses will have edge computing as a requirement. With a global market share of $6.72 billion, by 2020, 45% of data that is created by IoT devices will be stored and analysed by edge computing. Hence with the growing demand, edge computing creates jillion opportunities for software engineers.
Skills Required For Edge Computing Technology: IoT and Cloud computing.
10. Digital Twins
This concept of Digital Twin has been around since 2002, but it is because of IoT it has become cost-effective to implement. This is a cloud-based virtual model of a process, service or a product. Digital Twin refers to the digital illustration of a real-world entity or system using the best available sensor updates, physical models, fleet history, etc..,
IDC predicts that by 2019, companies who invest in Digital twin technology will see a 30% growth in cycle times of critical processes. By 2020, it is expected that more than 20 billion connected sensors, endpoints, and digital twins will exist for billions of things.
The future will move towards the digital representation of environments, factories, and physical assets which enables an increasing detailed demonstration of the physical world for simulation, analysis, and control such that failures are virtually recreated to gain substantial improvements in cost and cycle times.
These are the top technology trends that become mainstream by the end of 2020. Businesses that would want to survive the competition out there will start investing in most of these trends. So, it is time for you to hit the road when it is hot by choosing your favourite career on this list.