Technology today is evolving at such a rapid pace, enabling faster change and progress, causing an acceleration of the rate of change, until eventually it becomes exponential. However, it is not only technology trends and top technologies that are evolving, a lot more has changed this year due to the outbreak of COVID-19 making IT professionals realize that their role will not stay the same in the contactless world tomorrow. An IT professional in 2020-23 will constantly be learning, unlearning, and relearning (out of necessity if not desire).
What does this mean for you? It means staying current with new technology trends. It means keeping your eyes on the future to know which skills you’ll need to know to secure a safe job tomorrow and even learn how to get there. All bows to the worldwide pandemic, most of the global IT population is sitting back, working from home. If you wish to make the most of your time at home, here are the top 7 new technology trends you should watch for and make an attempt at in 2023, and possibly secure one of the jobs that will be created by these new technology trends.
1. Artificial Intelligence (AI) and Machine Learning.
Artificial Intelligence, or AI, has already received a lot of buzz in the past decade, but it continues to be one of the new technology trends because its notable effects on how we live, work, and play are only in the early stages. AI is already known for its superiority in image and speech recognition, navigation apps, smartphone personal assistants, ride-sharing apps and so much more.
Other than that AI will be used further to analyze interactions to determine underlying connections and insights, to help predict demand for services like hospitals enabling authorities to make better decisions about resource utilization, and to detect the changing patterns of customer behaviour by analyzing data in near real-time, driving revenues and enhancing personalized experiences.
The AI market will grow to a $190 billion industry by 2025 with global spending on cognitive and AI systems reaching over $57 billion. With AI spreading its wings across sectors, new jobs will be created in development, programming, testing, support, and maintenance, to name a few. On the other hand, AI also offers some of the highest salaries today ranging from over $1,25,000 per year (machine learning engineer) to $145,000 per year (AI architect) – making it the top new technology trend you must watch out for!
Machine Learning the subset of AI, is also being deployed in all kinds of industries, creating a huge demand for skilled professionals. Forrester predicts AI, machine learning, and automation will create 9 percent of new U.S. jobs by 2025, jobs including robot monitoring professionals, data scientists, automation specialists, and content curators, making it another new technology trend you must keep in mind too!
2. Robotic Process Automation (RPA).
Like AI and Machine Learning, Robotic Process Automation, or RPA, is another technology that is automating jobs. RPA is the use of software to automate business processes such as interpreting applications, processing transactions, dealing with data, and even replying to emails. RPA automates repetitive tasks that people used to do.
Although Forrester Research estimates RPA automation will threaten the livelihood of 230 million or more knowledge workers, or approximately 9 percent of the global workforce, RPA is also creating new jobs while altering existing jobs. McKinsey finds that less than 5 percent of occupations can be totally automated, but about 60 percent can be partially automated.
For you as an IT professional looking to the future and trying to understand new technology trends, RPA offers plenty of career opportunities, including developer, project manager, business analyst, solution architect, and consultant. And these jobs pay well. An RPA developer can earn over ₹534K per year – making it the next technology trend you must keep a watch on!
3. Edge Computing.
Formerly a new technology trend to watch, cloud computing has become mainstream, with major players AWS (Amazon Web Services), Microsoft Azure, and Google Cloud Platform dominating the market. The adoption of cloud computing is still growing, as more and more businesses migrate to a cloud solution. But it’s no longer the emerging technology trend.
As the quantity of data organizations are dealing with continues to increase, they have realized the shortcomings of cloud computing in some situations. Edge computing is designed to help solve some of those problems as a way to bypass the latency caused by cloud computing and get data to a data center for processing. It can exist “on the edge,” if you will, closer to where computing needs to happen. For this reason, edge computing can be used to process time-sensitive data in remote locations with limited or no connectivity to a centralized location. In those situations, edge computing can act like mini data centers.
Edge computing will increase as the use of the Internet of Things (IoT) devices increases. By 2025, the global edge computing market is expected to reach $6.72 billion. And this new technology trend is only meant to grow and nothing less, creating various jobs, primarily for software engineers.
4. Quantum Computing.
The next remarkable technology trend is quantum computing, which is a form of computing that takes advantage of quantum phenomena like superposition and quantum entanglement. This amazing technology trend is also involved in preventing the spread of the coronavirus and developing potential vaccines, thanks to its ability to easily query, monitor, analyze, and act on data, regardless of the source. Another field where quantum computing is finding applications in banking and finance, to manage credit risk, for high-frequency trading and fraud detection.
Quantum computers are now a multitude of times faster than regular computers and huge brands like Splunk, Honeywell, Microsoft, AWS, Google, and many others are now involved in making innovations in the field of Quantum Computing. The revenues for the global quantum computing market are projected to surpass $2.5 billion by 2029. To make a mark in this new trending technology, you need to have experience with quantum mechanics, linear algebra, probability, information theory, and machine learning.
5. Virtual Reality and Augmented Reality.
The next exceptional technology trend – Virtual Reality (VR) Augmented Reality (AR), and Extended Reality (ER). VR immerses the user in an environment while AR enhances their environment. Although this technology trend has primarily been used for gaming thus far, it has also been used for training, as with VirtualShip, a simulation software used to train U.S. Navy, Army, and Coast Guard ship captains.
In 2023, we can expect these forms of technology to be further integrated into our lives. Usually working in tandem with some of the other new technologies we’ve mentioned in this list, AR and VR have enormous potential in training, entertainment, education, marketing, and even rehabilitation after an injury. Either could be used to train doctors to do surgery, offer museum-goers a deeper experience, enhance theme parks, or even enhance marketing, as with this Pepsi Max bus shelter.
Fun fact: 14 million AR and VR devices were sold in 2019. The global AR and VR market is expected to grow to $209.2 billion by 2025, only creating more opportunities in the trending technology, and welcoming more professionals ready for this game-changing field.
While some employers might look for optics as a skill set, note that getting started in VR doesn’t require a lot of specialized knowledge – basic programming skills and a forward-thinking mindset can land a job; another reason why this new technology trend should make up to your list of lookouts!
Although most people think of blockchain technology as cryptocurrencies such as Bitcoin, blockchain offers security that is useful in many other ways. In the simplest of terms, blockchain can be described as data you can only add to, not take away from or change. Hence the term “chain” because you’re making a chain of data. Not being able to change the previous blocks is what makes it so secure. In addition, blockchains are consensus-driven, so no one entity can take control of the data. With blockchain, you don’t need a trusted third party to oversee or validate transactions.
Several industries are involving and implementing blockchain, and as the use of blockchain technology increases, so too does the demand for skilled professionals. From a bird’s eye view, a blockchain developer specializes in developing and implementing architecture and solutions using blockchain technology. The average yearly salary of a blockchain developer is £589K.
If you are intrigued by Blockchain and its applications and want to make your career in this trending technology, then this is the right time to start. To get into Blockchain, you need to have hands-on experience in programming languages, the fundamentals of OOPS, flat and relational databases, data structures, web app development, and networking.