Technology is an ever-evolving entity and since the early age of mankind until this date, whatever the technology we see around us right now, is counted in the current Technology Trend. As time passed and progress became unstoppable, technology stepped into almost every aspect of our life. Standing in the midst of the fourth industrial revolution we all are witnessing the advancement in technology as fast as never before. Many companies and organizations are striving to cope up with the new technology trends, in order to withstand the progressive digital market winds.
In order to prepare and grip on the new opportunities, it is vital to understand the key trends by businesses and entrepreneurs. Being a futuristic business owner and having a full understanding of progressive technology, it is important to look ahead in time and identify the key developments. With technological outburst, we have entered the era where we cannot imagine our life without these gadgets all around us.
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In the past years, we saw the speeding integration of multiple emerging technologies. In 2019 AI and M2M technology kept soaring with the dawn of the fourth industrial revolution. Hence, we can anticipate the basis of the seeds soiled in Science and Technology within 2019, the outlook of what is to arrive in 2024. We are all rooting for the upcoming and emerging technology in the global market.
According to the CEO of Aspolin International Ltd , a UAE based company with focus on investing in emerging markets, these are the 10 most prominent technology emerging trends that everyone needs to get equipped with, in order to embrace in 2024
As the digital world takes over digital debit will come on the surface to last as the best transaction medium. The cryptocurrencies have gained stronger credibility and a larger market. The digital payment systems like Google pay and Amazon pay will gain more popularity, ultimately making traditional banking lose its ground. However, traditional banking will hold good value in 2024, but the businesses will pave out the ways for their digital transaction sources.
Edge computing is a type of computing topology in which the content collection, information processing, and the delivery are placed closer to the sources, and consumers of this information. While processing it tries to reduce latency, enabling greater autonomy at edge computing.
IoT and Smart Machines
Internet of things or machine to machine if the hottest topic of the town. This technology has been around and still continuing to hold importance in the market and the consumers. Currently, there are 9 billion devices that are connected to the internet, and in the coming year, it is expected to rise up to 20 billion in the upcoming year.
Everything getting digitized and digital integration into people’s lives has turned the Analytics to produce the amount of information with the current technology that was never achieved before. Consumer Insight has turned crucial and a top priority for every business.
The advent of the fifth generation in mobile internet connectivity is one of the most anticipated and enigmatic new upcoming technologies which is going to affect businesses in 2024. This will provide super-fast download and upload capacity and more stable connections. 2024 will most likely be the year when 5G will be available with more affordable data plans as well as better coverage which will lead to more people joining in the better data connectivity and enjoying its perks. Many industry experts project 5G wireless networks as the future of communication, impacting the businesses in the new decade. As stated by Huawei, ‘deployment of 5G network will emerge between the year 2024 and 2030’. This technology will see a tremendous amount of implementation by the mid-2020s.
The rapidly increasing and mature AI Technology, have already penetrated the stage of industrialization. With the continuous investment in the direction of artificial intelligence by technology giants, there is a lot expected to come in the form of data emerging in the year 2024. However, it is typically seen in the movies but the general AI is quite complicated and actually debatable. Physicist, cosmologist, and author Stephen Hawking once said, ‘the development of full artificial intelligence could initiate the end of the entire human race. Humans would be superseded.’ It is vital to have a proper fool proof plunge further into innovating the emerging artificial intelligence.
Companies like Tesla, Alphabet, and Waymo; all have been working on one single aim, which is to craft extraordinary autonomous vehicles. Even today the idea of driverless cars creates a lot of excitement. There are already a few vehicles in the pipeline that will work on autonomous ideas. Tesla designed by Elon Musk was one of its own kind, which gave us the relief of having automatic cars and other vehicles not being too far-fetched.
Extended reality refers to virtual, augmented and mixed reality. Virtual reality provides a complete digital immersive experience where you enter into the virtual computer-generated world by using headgear. However, augmented reality overlaps the digital objects of the real world, by putting an extra filter on top of the real object, like Snapchat. Mixed reality is the extension of augmented reality with creating virtual reality experience. Think of placing a piano by virtual reality into your room and using VR glasses to see.
Personalized and predicted medicine
Technology is currently transforming the Healthcare industry at an unbelievable rate. The ability to capture data by wearable devices actually gives the ability to predict and treating the patients, even before they begin to show any symptoms. it will not be wrong if we say that technology and medicine go hand in hand. In the future, we will see more personalized approaches, which can also be referred to as precision medicine for more precise treatment. This is achieved by the data-driven authenticity towards a certain medicine by understanding how effective that medicine would be.
Human augmentation is a wider topic according to Gartner it explores the possibilities of how technology can be used to provide cognitive and physical improvement in human life. Physical human augmentation has started to be adopted as the measure for improvising the physical capabilities; by implanting or hosting an external technology element on their bodies such as the robotic arm. These are also catered by the wearable devices. Whereas, cognitive augmentation can be implemented by accessing personalized information and using applications on traditional computers.
There is an enormous scope of getting success for Artificial Intelligence, extended reality and (already boasting) the internet of things. The emerging Technologies of 2024, will bring some revolutionary changes in our lifestyle and enhance the quality of life.