Tech trends: the most recent technological advancements are paving the way for more connected business and pleasure.
However, I guess it is safe to say that this is just the beginning. The technology trends of the current decade are filled with ‘old acquaintances’ that are evolving, and some brand new, transformative ideas.
The most recent advancements will further impact our daily lives and how we interact and work with others. Even the nature of the workforce is changing, with teams shifting from permanent employees to more contract and hybrid approaches.
In the spirit of the quote from Heraclitus, a Greek philosopher, “change is the only constant in life”. The implications of this mean that change is inevitable, so we may as well adapt and opportunistically seek out the benefits, or be left behind.
This is especially true in the business world, shaped by a capitalist philosophy and an ever insatiable yearning for more profits, more growth, more development.
However, change can also be positive, in that the gains from capitalism can be applied to social and environmental issues, helping to create positive change that makes life better.
Below, we look at the tech trends that will define the years to come.
1. Predictive analytics
It is not a new trend but it deserves to be on the list because predictive analytics technologies will continue to change the rules of the game in many industries.
When it comes to efficiency, predictive analytics plays a great role in data analysis and data consolidation. It will surely be on the top of the list of new projects, particularly in the IT ecosystem.
Furthermore, it will be necessary in driving IoT technologies and cybersecurity. Think automated workflows, AI powered help desks and human error risk reduction.
2. Low-code services
Low-code services were projected to be one of the important technology trends of the last few years. We have witnessed how a rising number of skills and tools have been made available to assist innovation.
Lack of experience or competence has encouraged the popularity of self-service and “low-code” solutions.
When combined with AI and IoT infrastructures, low-code solutions are becoming more widespread among businesses that do not own a single server.
As a result, no-code interfaces will gain popularity, removing barriers to using these services.
One of the benefits of low-code technology include the ability of more team members to be able to shape workflows and processes and put in place technical systems, without needing to have the CV and skill set of a developer.
A great example of the adoption of low-code services is the website design field. New ‘drag and drop’ functionality allows anyone to design and publish a website without applying CSS or HTML. Theme builders like elementor, paired with WordPress, have transformed the web publishing industry.
3. Hybrid working arrangements
The composition of workplaces and teams is fast changing. The traditional model of permanent employees, all working from a centralised office space, is fast evaporating. What’s replacing this system is an agile, hybrid approach that sees ‘gig workers’, independent contractors and remote team members coming together more often than not, via Zoom.
In fact, according to a McKinsey Insights survey, 90% of employers now opt for a hybrid work approach, combining remote and on-site working. This has left many employees feeling nervous, as such flexible approaches may also lead to a change in the mix of permanent and contract positions.
Employers need to carefully consider the compositions of their teams, and allow for a differentiation of independent contractors from employees, and to make this clear in their contractor agreements.
Employees should also be mindful of any intellectual property (IP) concerns arising from hiring independent contractors. That’s because the contractor will own any intellectual property they create, unless the employer specifies in the contract that any intellectual property created is owned by the business.
4. Business models shift from physical to virtual real estate
This is a big tech trend. Forward-thinking businesses are already constructing metaverse places – virtual worlds where users interact with one another and their surroundings via avatars. Some even allow their citizens to possess virtual assets on the blockchain and publicly exchange them as non-fungible tokens (NFTs).
Businesses are preparing for a drastic transition even as the technology for the metaverse is being developed. However, because the concept of the metaverse has only lately acquired popularity in the mainstream, leaders are frequently unsure how to connect with it. While many people reject science fiction as a waste of time, it’s crucial not to discard it entirely.
You may be aware of the recent rebrand of Facebook to Meta. This tectonic shift may be unexpected for many, however is also a continuation of digital evolution. Meta aims to introduce people to shared virtual worlds and experiences that include digital concerts, shopping, social experiences and more, via different software and hardware platforms.
Mark Zuckerberg, CEO and founder of Facebook, is quoted to have said:
“We believe the metaverse will be the successor of the mobile internet…We’ll be able to feel present – like we’re right there with people no matter how far apart we actually are.”
5. Eco-friendly technology
We saved it for last not because it is the least significant, but because it is one of the most important tech trends.
Many businesses have chosen to make minor and major changes, with a focus on lowering CO2 emissions (through Blockchain, let’s say). Some of these changes include:
- migrating to the cloud
- clean processes
- product innovations
- process and consumption optimisation
Before we end…
Technology has the ability to change and reimagine how we do business in an increasingly connected world. From metaverse type digital workplaces to hybrid teams composed of permanent, contractor and remote staff, the only constant here is change itself.
As we look ahead and prepare for the future, we believe that the latest tech trends and developments can help us handle some of our most pressing business concerns.