There’s been a great shift in the tech space ever since the pandemic struck the world. Several trending technologies, which might have been unnoticed initially, now lead the activities of companies.
These technologies are not just trending in various sectors, but are trending in financial growth even for individuals.
Blockchain is one of such technology. It is the tech behind bitcoin which is now a global investment means and goes beyond offering just cryptocurrencies. It can now be used to combat fake news, insecurity and perform transactions.
With blockchain, fingerprinting a video at the source leaves a trail that can be traced back easily.
The global blockchain market is expected to grow from $3,000,000,000 to $39,700,000,000 by 2025, with a CAGR of 67.3% from 2020 to 2025.
Getting into blockchain requires skills in programming languages, fundamentals of OOPS, flat and relational databases, data structures, web app development and networking.
This is a form of computing that takes advantage of quantum phenomena like quantum entanglement. It helps in limiting the spread of coronavirus and the development of potential vaccines, thanks to its ability to easily query, monitor, analyse and act on data regardless of the source.
In banking and finance, quantum computing would help you manage credit risks. For high-frequency trading and fraud detection, quantum computers are now faster than regular computers.
The revenues for quantum computing are projected to surpass $2,500,000,000 by 2029.
Skills required in quantum computing include quantum mechanics, linear algebra, probability, information theory and machine learning.
5G services are expected to revolutionise our lives by bringing in services that rely on advanced technologies like AI and VR, as well as cloud-based services like Google stadia.
5G is expected to be used in industries for the production of HD cameras that help in safety and traffic management, smart grid control and smart retail.
5G services are now being launched worldwide and it’s been projected that over 50 operators would be offering the services in about 30 countries by the end of 2021.
Internet of Things
IoT has become the intelligence of things as more and more devices have become AI-enabled. IoT software and hardware applications have grown, thanks to industry dynamics, economic stimulus and remote access demand.
IoT is expected to be adopted by smart manufacturing and healthcare companies. AI-enabled medical devices now have applications like clinical decision making, thermal image recognition, surgical assistance, smart clinics and telemedicine centres.
Before now, it was projected that there will be 35,000,000,000 IoT devices installed worldwide by the end of 2021 and 75,440,000,000 by 2025.
Skills required before delving into IoT include information security, AI and machine learning, networking, hardware interfacing, business intelligence tools and UI/UX design.
Cybercrime has been on an increase recently, hence, increasing the focus on cybersecurity for many organisations. Protecting smaller organisations from cyberattacks, protecting the identities and devices of remote workers, preventing access to confidential records, protecting smart supply chains, among others are the drive of cybersecurity companies.
Last year, cybercrime magazine projected that $6 trillion will be spent on cybersecurity globally, by the end of 2021.
Skills required for cybersecurity include IT and network fundamentals, coding skills, cloud security and malware analytics.
Augmented, virtuality and extended reality
AR and VR now play a major role in the field of healthcare by providing training simulations to medical professionals and for opticians to perform eye tests.
In the educational sector, AR and VR have increased interactivity and the VR video gaming market is projected to reach over $2,000,000,000 by the end of 2021.
Skills required for AR and VR include software development, AR/VR maintenance support, design/graphics and hardware engineering.
This is an emerging technology that several major industries have their eyes on. It is a combination of distributed ledger technology, artificial intelligence, extended reality and quantum computing.
DARQ is primarily geared towards the healthcare industry where it is expected to reduce the cost of care, improve labour productivity and enable better experiences for consumers and partners.
Due to its currently developing nature, only a few organisations have started taking advantage of this technology.
Skills required for DARQ include DLT, AI, XR and quantum computing.
Cloud services are expected to provide even more services that make technologies like AI and robotics accessible to every business.
Serverless computing is something that’s been focused on as it provides users with the opportunities to work on core products with operating and managing the servers.
High-breed clouds also show great growth, thanks to their speed, ease of control and security options.
The global IaaS, PaaS and SaaS market size has been projected to reach $81,000,000,000, $72,000,000,000 and $140,600,000,000 respectively, within a short period.
To get into cloud computing, you need to have an understanding of the concepts of different cloud computing platforms, programming languages, specialised services, storage, database domains, among others.
Reduction in the cost of human labour and meeting customer demands is one of the most appreciated works of automation.
This includes the creation of robotic devices which also gives companionship to elderly people.
The incorporation of drones for the delivery of medicine, groceries and other essential goods is expected to be on the increase globally.
Skills required for automation include programming and scripting, configuration management software, understanding of testing tools, among others.
AI can help interpret and understand the enormous amount of content produced. Machine learning algorithms will become better informed and perform much more sophisticated operations.
It is expected to be used to analyse interactions to determine underlying connections and insights.
To help predict demand for services like hospitals and enable authorities to make better decisions about resource utilisation.
AI can now be used by businesses to detect the pattern of customer behaviour and to detect the various ways they can be satisfied.
Last year, global spending on AI systems was projected to reach $57,600,000,000 this year, but this has been surpassed by over $28,000,000,000, giving a total of over $85,000,000,000.
Skills required for AI include programming languages, linear algebra, probability, big data, machine learning algorithms, among others.