Technology has come so far in the past couple of years. Things we didn’t think would be possible in the year 2000 are now the norm. And things we can’t even think of today might be commonplace in 10 years. The rate at which technology is advancing is faster than ever before, facilitating new and even more unique solutions to today’s problems. We often think of radical societal changes as something in the far future, but these five technological trends could mean big changes for the world in just the next decade.
Let’s explore the 5 tech trends that will revolutionize our lives in the next few years:
1. Decentralized networks
The 2000s brought about a rise on the internet. And now it is ubiquitous throughout the world. Currently, we may be in the beginning stages of the next revolution in networks. Decentralized technologies, like blockchain, are changing how finance infrastructure functions in a major way. The introduction of networks like Bitcoin and Ethereum now allows for anyone to transact and transfer value without the need for intermediaries or third parties. These decentralized networks are completely in the hands of the users themselves and are completely open and transparent.
The implications of this are huge. With billions of people around the world unbanked and unable to access adequate financial tools, decentralized networks could bring financial freedom to this portion of the population.
In addition, decentralized networks will take the power out of the hands of traditional financial institutions and put it back into the hands of individuals, thereby creating a more equitable financial system all-around. This is a value that Bondora firmly believes in, as we were founded to allow everyone the opportunity to access life-changing financial services.
The internet-of-things (IoT) can bring together information and data from any device that has a sensor or software. That might not sound so incredible, but just think about how many devices today are embedded with technology. Everything from home appliances to watches to medical devices is all built on the IoT global network. It’s expected that by 20217 the IoT market will grow to over €1.1 trillion.
Already, we can see glimpses of how IoT is changing our lives. Smart homes with IoT devices allow homeowners to change their thermostats, lock their doors, and do any number of other functions remotely from their smartphones. IoT through automated machinery has also become important in manufacturing and the supply chain, where IoT devices can easily communicate with one another to carry out tasks as needed.
3. Renewable energy
As climate change becomes a more pressing issue around the globe, renewable energy has stepped in to help solve this growing catastrophe. Already, energy from wind, solar, hydroelectric, and other forms of renewable sources is being adopted at a fast pace throughout the world, and this will only continue into the next decade. By 2026, the renewable energy sector will be close to a €1.7 billion industry.
There have already been major breakthroughs in renewable energy technology, whether it be via the likes of Tesla and its electric cars or hydroelectric plants generating energy from flowing water. And the search for the most efficient renewable energy is harnessing advancements in technology from other areas, like artificial intelligence and machine learning.
Now that governments around the world are helping to subsidize the cost of developing renewable energy for the sake of our planet, the costs of innovating in the sector are dropping. And as a result, technology in this field will only continue to grow.
4. Artificial Intelligence
AI is nothing new and has been with us for some time. But its role in our daily lives will certainly continue to grow. AI has been used to optimize processes and experiences in the fields of healthcare, finance, transportation, and manufacturing. By utilizing machine learning, AI has been changing how we interact with our smartphones, transport goods, identify fraudulent transactions and so much more.
In the coming decade, AI will also become a booming career avenue. As artificial intelligence grows, so too will the demand for AI architects, machine learning engineers, data scientists, support technicians, and more.
5. Space travel
While this might have been thought of as far-fetched just a few years ago, space travel is already becoming a reality. All three major space travel companies—SpaceX, Blue Origin, and Virgin Galactic—have all sent people into space already.
We still have a ways to go before space travel becomes normalized, but over the next ten years, you may be able to purchase a ticket into space with your family.
Proponents of space travel don’t have an easy road. Already, many are calling out the new industry for its carbon emissions and harm to the environment. But there is still reason to believe that the new privatization of the space industry will lead to a reduction in its emissions and new possibilities of which we could have never dreamed.
An evolving world
These top tech trends point to an ever-evolving world in which humans continue to push the boundaries of what’s possible. Space travel will become more normalized, as will renewable energy through solar, wind, and other sources. Meanwhile, decentralized networks will upend the traditional financial system and give power back to the people, and AI will continue to change how we live and work.
If you want to know more about what your future could hold, read this article about what the world could look like by 2050.