Top Technology Trends: 2021
Now that the never-ending 2020 has ended, it’s time to break into the top technology trends for 2021. In 2020, we touched on artificial intelligence, machine learning, hyperautomation, edge computing, and multiexperience. Since then, we’ve reviewed trends from this year and these are the six that made the cut.
Artificial Intelligence
First, artificial intelligence, or AI, covers a much broader range of technology than it did a decade ago. Now, with robot janitors, automated stock trading, and more, AI is expected to grow to almost $98 billion by 2023. With AI being incorporated into businesses, new jobs will be created with some of the highest salaries in technology.
What's in the Future?
Well, Forrester predicts AI, machine learning, and automation will create 9% of new U.S. jobs by 2025. SimpliLearn states those jobs include: robot monitoring professionals, data scientists, automation specialists, and content curators. Given these points, it’s not a bad idea to keep AI on your radar.
Blockchain
Some of you may remember a bit about blockchain from our post in January. If you missed it, here’s the TL;DR – blockchain is an immutable ledger that encrypts and links customer transactions. Last year, we witnessed the rapid rise of blockchain in popularity, as businesses rushed to adopt this technology.
What to Look Out For
As the COVID-19 pandemic continues throughout the year, we will continue to see the adoption of, growth of, and transition to blockchain. However, China will likely be in the forefront with its state-backed Blockchain Based Service Network. Furthermore, China is almost ready to issue their cryptocurrency yuan.
With the continuation of social distancing and digital, cashless transactions, Bitcoin may become more prevalent. On the other hand, with the volatile cryptocurrency market, it could fizzle out. Despite all of this, another cryptocurrency, Ethereum, is gaining traction with its smart contracts.
5G
5G mobile networks have been advertised for what feels like at least three months now. If you’ve not heard one of the ads, 5G enables services that rely on technologies like augmented reality (AR) and virtual reality (VR) [see “Virtual Reality & Augmented Reality” below].
Why You Should Keep An Eye on 5G
Almost every telecom company in the world, including Verizon, T-mobile, Apple, Nokia Corp, and more, are working on building 5G applications. 5G is expected to launch worldwide this year – 2021.
Virtual Reality & Augmented Reality
One of our favorite technology trends, VR & AR, includes creating a unique environment that immerses gamers in a life-sized digital world. Furthermore, this technology has been used for training ship captains in the U.S. Navy, Army, and Coast Guard (VirtualShip).
AR & VR - Down the Road
In 2019, 14 million AR and VR devices were sold. By next year, 2022, the global AR and VR market is expected to grow by $209.2 billion. Businesses will be able to use this technology to enhance their offerings to their customers and inform effective decision making.
Quantum Computing
In contrast to conventional computers, quantum computers can be used for predictive analytics and big data analysis. Currently, quantum computing is involved in preventing the spread of the coronavirus and the development of potential vaccines.
The Future of Quantum Computing
It is predicted that the revenues for the global quantum computing market will surpass $2.5 billion by 2029. With IBM making it possible for businesses to leverage this technology, it can be expected more jobs will arise requiring experience with quantum mechanics, probability, information theory, and machine learning.
Cybersecurity
Finally, the last trend that we think is worth keeping an eye on is cybersecurity. With IBM reporting that the average total cost of a data breach across the globe was $3.86 million in 2020, its not surprising to see a shift towards security. Now, businesses are employing professionals in cybersecurity to combat hackers and those that attempt to steal data.
Why Might it Matter to Me?
First, The Bureau of Labor Statistics predicts that the number of jobs for information security analysts in the U.S. to grow 31% from 2019-2029. Additionally, cybersecurity offers lucrative six-figure incomes and has a wide range of career paths. If you’re looking to get into the cybersecurity field, now’s the time.
In Conclusion
To summarize, we think it wise to keep an eye on these trends during 2021. Ultimately, the year is still quite young. We’ll have to wait and see how it plays out to know which direction technology may take in the future. Thanks for tuning in, and as always, let us know if you have questions or comments!
Resources & Further Reading
4 Emerging Trends in Information Technology. (2020, October 6). Retrieved January 25, 2021, from https://www.columbiasouthern.edu/blog/october-2020/emerging-trends-in-information-technology
Duggal, N. (2021, January 11). 9 New Technology Trends for 2021. Retrieved January 25, 2021, from https://www.simplilearn.com/top-technology-trends-and-jobs-article
Team, E. (2020, December 18). Blockchain trends in 2021: Expect the unexpected. Retrieved January 27, 2021, from https://www.finextra.com/blogposting/19679/blockchain-trends-in-2021-expect-the-unexpected
Watters, A. (2021, January 13). 10 Emerging Trends in Information Technology for 2020. Retrieved January 26, 2021, from https://www.comptia.org/blog/10-emerging-trends-in-information-technology-for-2020