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5 Key tech trends to watch for the next 5 years

Picture this, one day you wake up and decide that the wait is over, today is the day, to go buy that new Smart TV with HD from your favorite brand you have been waiting for. As you scroll down on social media while brushing your teeth before leaving, you find out that another brand has just launched a new TV with all the features that the one you want, plus it has voice recognition and a motion sensor. What would you do? Would you stay with your first choice? That other device with the newest technology sounds more appealing now no?

Since the development of computers and the internet, the rate of technological change worldwide has been accelerating as the days go past. From, domestic robots to NFTs the world is constantly changing and adapting. If we learn something from the past 2 years is that people change their habits and the way they live their lives; therefore companies need to understand how these behaviors change and how technology impacts this. 

In this blog, we will walk you through some of the key tech trends that you need to be aware of to stay in top of your business game and keep delivering the best product and solutions to your customers taking advantage of the latest technology available out there.

#1 Metaverse

Metaverse is one of the hottest words of the moment, surely you have heard it more and more. Nowadays, it’s common to read in the news things like “Company X designed its own metaverse for employees” or “Are you ready to conduct business in the metaverse?”. But what exactly is this famous concept?

The metaverse is a concept that translates into an online, 3D universe that combines multiple virtual spaces focused on social connection. While it doesn’t technically exist yet, the metaverse will allow users to work, meet, and socialize together in these 3D spaces. In other words, as its name suggests, it is basically a virtual world.

Now, this new “extended reality” has been predicted to be the next evolution of technology and represents a white canvas for companies to intervene and adapt their products while this universe blurs the line between physical and digital life. Therefore, businesses should continue developing products and keep innovating, experimenting, and growing their audience while getting ready to take on this new universe. 

#2 3D Printing

Simply put, 3D printing is the process of manufacturing three-dimensional solid objects from a digital file. This process can be done by depositing, joining, or solidifying material under computer control, usually using a 3D printer. The material is typically added together layer by layer.

Although the 3D printing process can be traced back to the 70s, this technology has been growing exponentially to become today a game-changer solution. For example, modern 3D softwares allow users to access the library of millions of shapes and lets them find the ones that suit them to further manipulate them, enabling them to have more flexible Design, a faster prototyping process, and to print on demand while minimizing waste.

Finally, 3D printing techniques are allowing companies and governments to explore creative solutions to some pressing issues. For example, using materials like concrete and plastics in 3D printers can help to print homes relatively easier and cheaper in remote and emerging regions, in need of cheap and affordable housing.

#3 Cryptocurrencies

Have you heard about Bitcoin? So do we (and apparently so does the rest of the world). According to Investopedia, a cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. In other words, is a new form of digital money. 

Although for the moment it is most common for people only to transfer and withdraw their traditional, non-crypto currency money like the U.S. dollar digitally, rather than paying for stuff electronically, different cryptocurrencies are becoming more mainstream and soon it is predicted for cryptocurrency to become a common form of payment.

Some of the advantages of cryptocurrencies include cheaper and faster money transfers and decentralized systems that do not collapse at a single point of failure. That is why some governments like Sweden, Canada, and the European Union are playing with the idea of regulating digital currency and making it legal tender.

#4 Artificial Intelligence

Yes, it sounds like a sci-fi movie, but Artificial Intelligence (AI) is no longer fiction, in fact, is part of our everyday life. From chatbots to face recognition technology, AI has become a part of our everyday lives. 

In our ever-increasing technological world, we cannot separate Artificial Intelligence (AI) from product development any longer. Having AI and machine learning knowledge allows real-time analysis and better interaction between people and machines for smarter task executions. As the level of communication between devices and humans through intelligent technology, the convergence of both through AI helps applications and solutions to make predictions based on the identification of data patterns to ease the interaction. 

One of the main benefits of AI is that it reduces the probability of human error. This is essential for any enterprise that aims at boosting efficiency, reducing the amount of wasted material, and increasing profits. More so, with the precision of AI forecasting capabilities, you can make more informed decisions that would boost your business and give you the edge over the competitors.

#5 Internet of Things

The Internet of Things, or IoT, describes the network of billions of physical devices - “things” around the world that are connected to the internet and sharing data. Thanks to the rapid technological development, now it’s possible to connect almost anything to the internet, from a small lightbulb to an airplane, and turn it into a part of the IoT. But, how big is the IoT these days? Well, it’s big and getting bigger as there are already more devices connected than people in the world. According to ZdNet, tech statistics predict that in total, there will be 41.6 billion connected IoT devices by 2025, or "things."

Over the past few years, IoT has become one of the most critical technologies of the century. Connecting all these different objects to the web adds a level of digital intelligence to devices that would be otherwise “dumb,” enabling them to communicate real-time data without the need of human beings. In other words, in this hyperconnected world where we can connect everyday objects to the internet, we can achieve seamless communication between people, processes, and things.

The Internet of Things is making the world around us smarter and more responsive, merging the digital and physical universes and making them cooperate. 

Closing

As we navigate the remains of the Pandemic and move into 2022, CEOs and business leaders should be aware of emerging technologies and be ready to identify which will shape the way business is done. Now more than ever, it’s crucial for companies to stay on top of the latest tech trends that will help them develop better solutions for their clients so they don’t fall behind in the tech game. 

The presence of new technologies is increasing at an impressive speed and we can deny that technological evolution has become an integral part of our lives. Therefore, there is no better time to seize the opportunity and get all the necessary insights on what is new and how to adapt your products to not fall behind in the market.

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