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The workplace has come a long way in recent years as the proliferation of emerging technologies continually evolves businesses, industries, and markets, pushing them to new heights. In order for businesses to keep up with the latest advancements, it’s vital to take note of all of the technology trends as they emerge.
The pandemic rapidly accelerated our reliance on workplace technology, firmly cementing tech as an essential part of doing business in almost every industry. With remote work now the norm for many companies, technology in the workplace is the key enabler for employees and teams staying connected and engaged – across local, national and global locations.
You might be thinking ‘what is emerging technology?’ or ‘what are emerging technologies?’ Well, here are four emerging technologies examples that are revolutionising the “office”.
Although it has been around for some time, cloud-based technology has become more commonplace as businesses streamline collaboration between teams in a secure, mobile-friendly environment. According to research by Gartner, spending on cloud services is forecast to grow 18.4% during 2021 to total USD$304.9 billion, up from USD$257.5 billion in 2020.
Cloud solutions like Microsoft Office 365 and Google Docs allow employees to work on the same document, or access the same data, in real time, from anywhere in the world. What’s more, the ability to use on-demand, scalable cloud models is driving organisations of all sizes to reassess and improve their digital business transformation plans.
Machine learning (ML) essentially refers to training a computer to analyse data and track repeating patterns – and it has major implications for operational efficiency in many industries. For example, some organisations leverage ML technology to analyse customer actions, transactions and social sentiment data to provide a better, more personalised customer experience and service.
And that’s just scratching the surface: ML is being used to create more seamless supply chains, detect fraud, automate administrative tasks and carry out many other essential business functions.
By 2027, it’s expected the global machine learning market will reach a value of USD$117.19 billion.
Additive manufacturing, also known as 3D printing, is predicted to be a USD$35.6 billion industry by 2024. At its core, additive manufacturing is the process by which digital 3D models are made into physical objects using a printer. The printer reads a file on a computer and then renders the digital representation in tangible material, layer by layer.
3D printing is revolutionising the manufacturing industry, making it possible for businesses to prototype products faster than ever before, and develop customised devices and parts through digital modelling.
Virtual reality (VR) and augmented reality (AR) are two different mediums but their major similarity is that both deal with virtual objects via technology.
An easy differentiator is that AR works with objects in the real world, while VR operates in an artificial world. From a business perspective, both AR and VR enable users to tap into the sensory and emotional area of the brain.
VR is already being used in video-based training, where one instructor can reach a global class. The use of AR tech can be seen in business cards that are already in circulation.
Projection-based AR uses data based on your location and is widely used by smartphones.
Looking forward, Gartner estimates as many as 70% of businesses could be evaluating using AR and VR by 2022.
These emerging technologies are reshaping the way we work, and employers are looking for talent with the right technical expertise to meet the demands of the future.
Take a look at our current job opportunities and find your next exciting role.
As the world continues to innovate at breakneck speed, staying ahead of the technology trends becomes a crucial strategic move for business leaders. Among all emerging technologies, one stands out with potentially transformative power - Artificial Intelligence (AI).
AI is one of the most influential technologies currently under development. Its subsets - machine learning and deep learning - are poised to become game-changers in multiple sectors. By leveraging AI, businesses can unlock new opportunities and redefine their competitive strategy. This is why AI is considered the cornerstone of emerging technology, promising a new era of technological advancements.
Artificial Intelligence and its offshoot, Robotic Process Automation (RPA), are creating the next generation of automation. Together, they offer businesses the tools needed to improve efficiency, reduce errors, and enhance customer experience. In combination with big data, AI-driven automation can provide businesses with valuable insights to make informed strategic decisions.
Beyond AI, there's a wealth of new technologies poised to make a significant impact on businesses and society. Augmented Reality (AR) and Virtual Reality (VR), collectively known as Mixed Reality, are reshaping industries from retail to healthcare by providing immersive customer experiences.
Meanwhile, quantum computing, a still largely unrealised but rapidly developing technology, promises to revolutionise computer science by performing calculations at speeds unattainable by existing technologies. Once practical applications of quantum computers are developed, they will significantly enhance data processing and information security.
The Internet of Things (IoT) has been a buzzword in the realm of emerging technologies for a few years now. By linking devices and computer systems wirelessly, IoT opens the door to a myriad of applications, from self-driving cars to smart home systems, marking a leap in the continuing development of technology.
With all these emerging technologies making waves, the onus is on businesses to stay abreast and capitalise on these developments. Those who can successfully integrate AI, AR/VR, IoT, and quantum computing into their operations will likely lead the market in the years ahead.
Nevertheless, the adoption of these technologies comes with challenges.
Businesses must ensure they have the infrastructure in place to support these high-speed, data-heavy applications. Additionally, issues around data privacy and the ethical use of AI and automation remain to be fully resolved.
Emerging technologies are not just about flashy new tools or devices; they represent a fundamental shift in how we conduct business, interact with our environment, and shape our society. Businesses must, therefore, approach technology adoption as a holistic endeavour, one that involves reassessing their business models, workforce needs, and ethical guidelines.
With the right approach and strategic investment, businesses can harness the power of emerging technologies to drive growth, improve customer experiences, and ultimately secure their place in the future of the industry. So, as we stand on the brink of this new technological era, one thing is clear: the future is here, and it's powered by AI.
