The Top 10 Technology and Business Trends of 2022
5G and the Internet of Things (IoT)
The 5G network symbolizes the next generation of mobile communication. Its speed advancements solitary is a revolution; 5G will take roughly one millisecond to respond to commands, whereas 4G can take up to 200 milliseconds.
The improved efficiencies offered by the 5G network will help businesses that depend on the Internet of Things (IoT) (physical things connected to the internet). Self-driving vehicles, for example, rely laboriously on Internet of Things (IoT) devices to navigate routes and traffic. Property management and leasing companies are now operating the Internet of Things (IoT) devices to create and maintain smarter buildings that utilize connected HVAC infrastructure and automated door locks, thermostats, smoke detectors, and more.
Investing in the 5G network and developing the usage of the Internet of Things (IoT) in the enterprise will also assist to reduce a company’s carbon footprint. The prestige of a company is now, better than ever, heavily predicated on the techniques and technology put in place to help reduce the harm that the operation inflicts on the environment and the climate.
Artificial Intelligence has evolved integral in our day-to-day lives as smartphones and their different applications, including artificial intelligence software such as Apple’s Siri and Google Assistant.
With AI, your smartphone can be operated to calculate distances and to affect the way that a piece of furnishings will look in your living room. Voice and object recognition are two components of Artificial Intelligence that are currently familiar in tablets and smartphones and are used to sell these latest smart devices to intrigued consumers.
Artificial Intelligence is also being adopted by businesses to enhance efficiencies, cut costs, and support automated processes. Industries that can expect to see an increasing amount of Artificial Intelligence support include Marketing, E-Commerce, Sales, Research and development and Manufacturing, etc.
Malware, phishing, and DoS attacks are becoming expected, with various ransomware attacks happening every 2 seconds around the world. With the ever-increasing threats to cybersecurity passwords, businesses are funding heavily in the protection of their networks and company data. Firms that drop victim to these attacks are encountering significant consequences, with the average data breach costing a company USD 4.24M. To stop cyberattacks, organizations are examining for innovative technology to protect major financial and reputational losses.
Will 2022 See the Death of Passwords?
MFA has become widespread throughout the tech landscape as a tool to prevent cyberattacks. The significance of MFA tech is sufficiently documented, with Google declaring that an SMS MFA system can stop 100% of all automated attacks, 96% of bulk phishing scams, and 75% of targeted attacks. MFA is also easy to use, so employees are capable to adapt to the tech fastly.
That said, SMS-based MFA is in the fall. Unfortunately, SMS wasn’t created with security and authentication in mind. Messages sent to cell phones can be blocked through SIM card swapping and rerouting text messages, permitting attackers to bypass the added layer of security usually provided by this MFA measure.
As authentication security continues to evolve, we can anticipate the downfall of cybersecurity passwords to continue and alternative forms of MFA to increase in popularity. As YubiKeys and fortunate Passwordless standards such as FIDO2 offer greater security than SMS-based MFA and user-generated passwords, we can expect security- conscious and forward-thinking businesses to rely slightly on passwords for their authentication security.
As organizations continue to proceed out of multi-factor authentication steps, Report Linker projects that the MFA market size will grow from USD 11.1 billion in 2021 to USD 23.6 billion by 2026.
Blockchain Technology and Cryptocurrency
Cryptocurrencies and the blockchain technology through which they serve are examined to create a major effect on the world of business. Many have heard these terms, but few understand what they imply and the potential of these latest technologies. Even prominent corporations are running to see how this new technology could fit into their company model and systems for years to come.
In its uncomplicated form, blockchain technology can be comprehended as a decentralized ledger across a peer-to-peer network. This latest technology system can be used in the growth of applications utilized for transferring funds, settling stock trades, voting, and numerous other issues that need improvement in regards to their procedures.
Let’s take a glimpse at how blockchain and crypto technology will affect companies involved in global supply chain systems, financial institutions, and corporations in general.
Given its transparent nature, Deloitte thinks that the blockchain can give the participants of a supply chain an expanded line of sight towards the traceability of materials, diminished loss from counterfeit and gray market items, as well as enhanced visibility and compliance over outsourced manufacturing. Overall, blockchain technology can assist to place a supply chain business as a leader in responsible manufacturing and can enhance the efficiencies in which a supply chain business works.
The advantages that blockchain technology delivers for banks and other financial institutions have instant settlements, declined counterparty risks, and expanded transparency, amongst others.
Cryptocurrency is a protocol built on a blockchain and is developed to take the form of a virtual currency secured by cryptography, making it almost impossible to counterfeit.
Improvement in autonomous driving technology awaits us in 2022. Honda recently revealed that it will mass-produce self-driving cars. And Tesla’s autopilot has learned not only to handle the movement on the lane and automatically rebuild, but also to recognize road signs, as well as traffic signals.
Ford is also entering the race — expecting the launch of a self-driving car-sharing service in 2022. Some buyers will be able to buy such machines already in 2026. Additional automakers, such as Mercedes-Benz, will also test to incorporate autonomous driving technologies into new models.
The balance between employees and intelligent robots
We now have increasingly qualified robotic technology and artificial intelligence (AI) systems that can carry on duties that were formerly done by humans. This leaves employers with some key questions: how do we locate the equalizer between intelligent machines and human intelligence? What roles and responsibilities should be given over to machines? Which roles are best suited to humans? There’s no doubt that automation will affect every industry, so business directors must prepare their companies – and their people – for the changing nature of the job.
EV charging network interoperability
Electric vehicles are quickly achieving popularity as government incentives and subsidies drive their adoption. But charging is even a concern as public EV charging networks usually have a lower level of interoperability – it affects different access methods, payment styles, and accounts.
UK-based Juniper Research stated it will start to break down in 2022.
The world’s biggest EV maker Tesla is already opening its supercharger network and other large charging networks are predicted to follow, to create the technology mainstream.
“End users will earn immensely … they will have reasonable, complete charging network options, making EV ownership more viable,” Juniper said.
The coronavirus pandemic and the wave in digital benefits are creating the cloud the centerpiece of unique digital experiences. In 2022, global cloud income is estimated to total $474 billion, up from $408 billion this year, according to Gartner.
“There is no business technique without a cloud-based technology,” said Milind Govejar, vice president at Gartner.
“Cloud has allowed amazing digital experiences such as mobile payment methods where banks have funded in start-ups, power companies using the cloud-based computing to improve their customers’ retail experiences or car companies founding latest personalization services for consumers' safety and infotainment,” he added.
The Metaverse Will Shine in 2022
The metaverse is a digital presence integrating with social media, online gaming, augmented reality, virtual reality, and cryptocurrencies to allow virtual user interaction. The metaverse refers to anything on the internet, including all of AR's offerings. Virtual space of the future defines the metaverse, giving access to all sorts of entertainment and projects, including the possibility to work.
We hope the metaverse to be immersive, universal, and free to access. It will be digitally concentrating, and potentially involves entertainment, social connection, work productivity, and behavior modification at scale. It will make a complete ecosystem for developers, apps, ads, and new digital innovations. The metaverse will boost convenience, consumption, and frictionless access to services.
Only a few organizations today have a real stake in the metaverse. They have ByteDance, Tencent, Facebook, Spotify, Zoom, Amazon (Twitch), Alibaba, Roblox, Bilibili, Snapchat, Kuaishou, and Huawei. Apple's wearables also suggest to the metaverse with AR glasses coming soon. Microsoft with Microsoft Teams and gaming is possibly the most advanced company in the world regarding the metaverse. WeChat's capacity to reduce payments and access to several services is the beginning of the metaverse super apps.
As the metaverse ecosystem rises in 2022, I hope it will have a natural effect on the future of multiple technology sectors. These contain gaming, wearables, VR and AR, collaborative productivity (Canva, Slack), consumer tech products (including AR glasses or smart speakers), social networks, educational technology, health technology, communication technology (Zoom), digital money, and convenience mobilization and on-demand consumption (Amazon, Meituan, Alibaba, JD.com, Shopify).
Improved Urgency in the Renewable Energy Technology Sector
Environment change and surprising news headlines are driving prompt growth in sustainable energy adoption. During the pandemic, this has been the foremost energy sector that has developed. According to the International Energy Agency (IEA), 40 percent more green energy was generated and utilized in 2020; the agency predicts steady growth in 2022. The falling cost of generating sustainable energy also helps guarantee that mass adoption is likely. While more contemporary power technologies like nuclear fusion, biofuel, and liquid hydrogen might take longer to come full circle.