You know the adage — the velocity of technological transformation is quickening. It’s capricious and unparalleled. As recognized by the World Economic Forum in its Future of Jobs report, we are stepping into a fourth industrial revolution:
Innovations in distinct fields such as artificial intelligence and machine learning, robotics, nanotechnology, 3D printing, and genetics and biotechnology are synergistically enhancing one another. By 2020, on average, more than one-third of the essential core competencies of the majority of occupations will consist of skills not yet deemed vital today.
The secret to thriving in this new industrial revolution is to lead it. This necessitates two critical components of agile organizations: awareness of disruptive technology and a strategy to cultivate talent that can harness its potential.
10 technologies set to revolutionize the global economy by 2025
As numerous technologies emerge across various domains, staying ahead is a challenge. Each breakthrough is hailed as “the next big thing.” Merging insights from The McKinsey Global Institute and Pluralsight’s subject-matter experts, we have assembled a list of 10 technologies that will spearhead the fourth industrial revolution. As the Institute notes, “Not every emerging technology will alter the business or social landscape — but some truly do have the potential to disrupt the status quo, alter the way people live and work, and rearrange value pools.”
1. Mobile Internet
Interfaces, formats, sensors, and apps will transform as mobile computing devices take charge of internet connectivity. By 2025, an additional 4.3 billion people could access mobile connectivity.
2. Artificial Intelligence
Machine learning and user interfaces, such as speech and gesture recognition technology, will advance to boost productivity or even eliminate some knowledge work altogether.
3. Virtual and Augmented Reality
Goldman Sachs envisions the virtual and augmented reality industry becoming an $80 billion market by 2025 – currently, it’s around $7 billion. Significant upgrades will come to technology infrastructure, and an ecosystem of apps will emerge for both consumers and enterprises.
4. Cloud Technology
One of the past decade’s most prominent buzzwords will continue to shape the next. Almost all IT services and web apps could be delivered through the cloud, with more enterprises utilizing the public cloud as cybersecurity improves.
5. Internet of Things
Over 9 billion devices are presently connected to the internet – that number is predicted to rise to 50 billion to nearly 1 trillion in the coming decade. Organizations will be tasked with monitoring and securing products, systems, devices, and even people.
6. Advanced Robotics
Progress in artificial intelligence, machine vision, sensors, motors, hydraulics, and materials will transform the delivery of products and services. A surge in tech talent for building, operating, and maintaining advanced robots will take place.
7. Biometric Technology
A recent survey of security professionals disclosed that 72 percent of companies plan to abandon traditional passwords by 2025. This will usher in new authorization services for face, voice, eye, hand, and signature identification.
8. 3D Printing
3D printing could enable unmatched levels of mass customization and significantly reduce supply chain costs, generating an estimated economic impact of $230 to $550 billion annually by 2025.
Genetic engineering technology will expand with faster computer processing speeds. DNA sequencing technologies and advanced analytics will enhance agricultural production, decrease reliance on fossil fuels, and extend human life expectancy.
Blockchain is best known in the context of virtual currency Bitcoin, but a recent report demonstrated 64 different use cases of blockchain across 200 companies. Streamlined, secure contracting and transacting will propel commercial use.
Wildcard: Quantum Computing
The application and adoption of quantum computing remain uncertain, but the technology is moving beyond the hype. Google
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