Olubunmi Odejimi
Technology has driven the growth of global economy since the beginning of time. It can be dated as far back as early man, from the men hitting two stones in making fire. Just as the world hero evolves, so does technology, and enlisted in this article are five technologies driving the growth of the world’s economy in 2022.
Most countries have so much embraced technology that made them advance more than others and as much depending on technology a country becomes more advanced as they grow and evolve. We never knew every country was advanced till the pandemic, every industry around the globe was affected and the advanced countries too, not immediately but the most advanced countries could bounce back because they advanced in technology, some were affected more because they were less advanced in technology. Here’s a list of 5 technology-driven industry growth in 2022.
1.Artificial Intelligence: AI has been for all across different industries from the 18-century mechanization, steam, and water power to today’s AI, machine learning in the 21 century. This is the go-to solution for business optimization increasing effective productivity in every industry. AI-powered robots, devices, and logistics managers have been improving the way industries work for a long time now, and AI solutions became popular because they didn’t require a lot of coding and could deploy quickly. However, AI technology reached a point where it can integrate with existing systems and help companies improve their operations on all levels.
2. Internet of Things: The internet is another world on its own, that is why since it came to existence it hasn’t slept ,because it generates real time data by the sensor. These sensors can be placed on all devices in a manufacturing plant to monitor their performance. The same approach is used to monitor employee performance and improve safety. IoT devices became the go-to solution for contact tracing during the pandemic, giving companies a way of preventing outbreaks in their facilities.
The real power of IoT is unlocked when paired with the right ML/AI solution. The data generated by the sensors is sent to an ML system that identifies gaps in the operation. The AI then reviews the information and proposes steps that will help improve efficiency and productivity.
However, IoT sensors and AI offer other incredible technologies, such as the digital twin. This technology uses real-time data to recreate an entire production, product, service, or business process in a digital environment.
3. Blockchain & Cryptocurrency Technology: Blockchain technology & cryptocurrency go hand in hand and have been around for years, but by 2022, they will become a part of almost every industry. The technology behind blockchain makes it ideal for areas such as banking, healthcare, politics, and others.
It focuses on creating decentralized digital ledgers that store and track information across multiple locations. The approach makes it impossible to hack, as all identification requires complex calculations. However, cryptocurrencies use the same principles to simplify the online exchange of goods and services. Just like blockchain, all information is decentralized and kept safe across multiple locations.
4. Cloud Services
You almost can’t find a business that doesn’t use some cloud service. Cloud computing became available years ago, and it quickly became the go-to solution for growing companies. Cloud services allow operation scaling without investing in new hardware or IT equipment. Instead, all data storage, maintenance, and management are done from an online cloud.
Cloud services redefined most business processes already, and more and more companies are adopting SaaS solutions. The cloud computing market is expected to reach $397.4 billion in 2022, with a growing trend that doesn’t show any signs of stopping.
5. 5G technology: this focuses on improving internet speeds to allow instant data transmission. All 5G wireless devices in a cell are connected to the Internet and telephone network by radio waves through a local antenna in the cell. The new networks have higher download speeds, and when compared to 4G (the technology in use right now), it’s able to increase speeds tenfold. However, the technology comes with a few challenges that make implementation and adoption a little bit tricky.
Technology is as old as man and has reached a point where it’s becoming increasingly harder to stay in tune with the latest trends. The technologies we covered above are just some trends shaping the future of businesses and online interaction.
It’s hard to say which one will be the next big thing, as there are many contesters. The bottom line is that you want to do some research and figure out which of these technologies work best for your business. Embracing the right tech early will give you an edge over your competitors, so think about updating your systems as soon as you can.
