Smart investment in Emerging Technologies has become vital for not only growth, but survival of organisations across the globe. Moving forward, to what we hope will be a post pandemic future we investigate into what technologies have emerged and will continue to emerge in 2022.
But what are these 5 technologies and why should organisations know more about them? Throughout this blog, we are going to investigate the definitions for these top 5 Emerging Technologies and why they have made such an impact this year.
To start off with let's look at Hyperscalers. Hyperscalers are large cloud computing and cloud service providers that can scale efficiently and cost effectively alongside the growing data demands of organisations. [Fortinet].
The biggest Hyperscalers of 2022 so far are: Amazon AWS, Microsoft Azure, Google Cloud Platform and Alibaba Cloud.
These 4 Hyperscalers are forecasted to generate a combined revenue of 139.2 billion British pounds. With the leading Hyperscaler Amazons AWS global Infrastructure as a service (IaaS) and Platform as a Service (PaaS) projected to take 49.2 percent of that revenue. [Statista]
But why are Hyperscalers important for organisations you ask? The answer is cost, scalability and Interoperability.
Hyperscalers make it cheap for organisations to access and use the cloud to build-out operational and product offerings.
Hyperscalers also allow organisations to scale up quickly and seamlessly as the platform can handle immense volume of activity and data.
Finally Interoperability, Hyperscaler providers allow organisations to integrate with other systems, therefore making it cheaper for the organisation to implement and integrate their platform [Forbes].
2. Industry clouds
Next, we look into Industry clouds. Industry Clouds are data and cloud platforms which are customised to industries individual needs, tailorising the capabilities of the aforementioned Hyperscalers.[KPMG].
One example of an Industry Cloud is ‘Microsoft Cloud for Healthcare’, which offers tools and integrations specifically designed for the benefit of the healthcare market. [Cognizant].
As industry clouds grow, more organisations will be looking to invest more in cloud technologies.
“Organizations are advancing their timelines on digital business initiatives and moving rapidly to the cloud in an effort to modernize environments, improve system reliability, support hybrid work models and address other new realities compelled by the pandemic,” said Brandon Medford, senior principal analyst at Gartner.
3. Quantum computing
Moving onto Quantum Computing. In traditional computing, computers can encode information in bits that take the value of 1 or 0. Quantum computing, however, makes use of quantum bits, or qubits, that can have more than one state, enabling them to have a state of 1 and 0 at the same time, enabling computing power to increase exponentially. [Investopedia]
By 2029 Google plan to spend billions of dollars building its own quantum computer and have already opened a campus in California named Google AI to achieve this goal.
As technology advances, the problems we encounter are getting more and more complex. Quantum computing offers a solution to this and is an area that will continue to grow during 2022 as more and more organisation's get on board. [AI Multiple]
Following Quantum Computing, it is only right to look at the new and exciting Metaverse. Metaverse is a 3D virtual reality space where users can interact, game and experience things as they would in the real world. The term can be traced back to Neal Stephenson and his novel Snow Crash which was published in 1992. [Polygon]
Whether in virtual reality (VR), augmented reality (AR) or on a screen, the Metaverse focuses on social connection where users will be able to work, socialise and play.
With this new and exciting technology, organisations can virtually meet people from other countries and interact with one another as if they were in the same room, therefore making it easier to do training and meetings.
For better or worse, the pandemic increased our dependence on technology and has pushed us to be more virtually engaged. In a post pandemic working environment we still conduct most of our lives in the virtual realm, so it makes sense that organisation are pushing VR forward.
Finally, we move onto Artificial Intelligence (AI).
"AI Is the science and engineering of making intelligent machines, especially intelligent computer programs. It is related to the similar task of using computers to understand human intelligence, but AI does not have to confine itself to methods that are biologically observable." Says John McCarthy (One of the founders of the discipline of artificial intelligence)
But why is AI important within organisations you ask? Well, there are a wealth of ways AI can help organisations, too many to list in this blog, and many of which may not have even be discovered yet.
Some examples might include, automating processes, uncovering new insights from data, and offering artificial engagement with customers and employees - available 24/7.
AI can even enable organisations as they expand geographically, applying AI powered language tools to translate text and speech real time and overcome the language divide. [Harvard business review]
We can see that there are already endless exciting opportunities ready for organisations to exploit, and these will continue to grow as we watch how these technologies develop. And this is just our top 5... there are many other technologies out there that are also changing the way organisations work.
With the growing complexity of the emerging technology landscape, it has become increasingly challenging for companies to navigate the wealth of data available and stay on top of these Emerging Technologies. This is where Graphium can help, Graphium is a B2B Software that transforms the way organisations monitor and invest in Emerging Technologies by converting the unstructured data into visual insight.