1. Generative AI Major capability: Produces human-like text, images, audio, and video Training method: Trains large language models with large data sets Key players: OpenAI, DeepMind of Google, Anthology. Generative AI burst forth into the world, igniting imaginations and disrupting creative industries. With the power of sophisticated neural networks, it is now possible to produce human-like text, images, music, and video.
Artists and designers now have the capability to visualize concepts in seconds using tools like DALL-E and Midjourney, and writers and marketers use large language models like ChatGPT and Claude to eliminate writer’s block and experiment with new writing directions. Across the business world, generative AI is revolutionizing industries with lightning speed: streamlining the production of content, personalizing marketing material, reimagining the customer experience and even assisting in the design of products.
2. AI and Machine Learning
Major subjects: Natural Language Processing, Computer Vision, Predictive Analytics Major companies: Google, IBM, Nvidia, Microsoft, and Amazon. Main applications: Autonomous vehicles, disease diagnosis, finance forecasting
While artificial intelligence has been a buzzword for a long time, recent advances in machine learning algorithms have taken the technology to unprecedented heights of capability. Deep learning models, simulating the human brain's neural networks, now have the capability to process vast quantities of information to identify patterns and make decisions with superhuman speed. In the area of health, diagnostics, the discovery of drugs and customized treatment plans are being transformed by AI. The finance industry is employing AI to identify fraud, automate trading and evaluate risk, and driverless cars powered by AI are set to revolutionize the way people travel. As more sophisticated AI systems evolve, they have the potential to take on more complicated problem-solving roles, opening exciting opportunities as well as raising issues of ethics about the future of human-machine collaboration.
3. 5G and Increased Connectivity
Key features: Low latency, high speed, massive device connectivity
Key players: Ericsson, Nokia, Huawei, Qualcomm, Verizon
Enabling technologies: Network slicing, Massive MIMO
With 100 times the speed of 4G and ultralow latency, 5G will enable a broad spectrum of new technologies and applications. The technology is the enabler of the mass deployment of IoT devices, supporting millions of connected sensors and smart devices in high-density environments. In the health field, 5G could enable remote surgeries with haptic feedback, with surgeons being able to remotely perform operations thousands of miles away. For autonomous vehicles, the low latency of 5G networks is needed to support real-time communication between cars and infrastructure. For entertainment, 5G will enable high-quality virtual and augmented reality streaming. As 5G networks expand, it’s paving the way for smart cities, industrial IoT and innovations we cannot even imagine.
4. Extended Reality (VR/AR
Types: Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR)
Key players: Meta (Facebook), Microsoft, Apple, Magic Leap, Sony Major applications: Gaming, simulation-based training, remote collaboration
Virtual and augmented reality technologies have gone beyond the initial applications in gaming and entertainment and have blurred the lines between the real and virtual worlds. Education is benefiting from VR with rich learning environments that enable students to travel to places of the past or to conduct virtual science labs. The medical profession is using AR for surgical planning and for the training of doctors, with VR being used to successfully treat phobia and PTSD. Retail is changing the shopping experience with the use of AR, with customers being able to see products in the home prior to purchase. Manufacturing and the architectural profession are utilising these technologies to create prototypes and design visualisation. As hardware becomes more sophisticated and cheaper, XR is being more and more integrated into daily life, changing the way we interact with information and the world around us.
5. Nano-Nanotechnology
Nano-Nanotechnology is the practice of working with material at the atomic and molecular level to enhance or create material and device with new attributes. Applications vary from more effective delivery systems for medications to better material performance to electronics advancements such as smaller but more powerful chips.
6. Telemedicine
Patients have the advantage of consulting doctors remotely via digital platforms, reducing the necessity of face-to-face visits. Long-term treatment in the case of a crisis like the COVID-19 outbreak is now a requirement. Telemedicine is expanding its services and becoming a normal method of the provision of healthcare.
7. Personalized Medicine
The disease diagnosis and treatment process is personalized and applies genetic, environmental, and lifestyle factors to diagnose and treat diseases effectively. Advances in genomics and biotechnology have enabled the doctors to utilize treatments that have the highest efficacy with the least side effects.
Personalized medicine is most revolutionary in oncology, with certain therapies being aimed specifically at genetic mutations present in cancer cells to result in improved patient outcomes.
8. Neuromorphic Computing
The emerging technology trend is neuromorphic computing, which involves the creation of computer chips that mimic the brain's neural structures and processing patterns. These chips process information differently than the traditional computers, leading to better handling of operations like pattern recognition and sensory information processing.
This technology allows for great energy efficiency and computing power gains, particularly for applications of real-time learning and adapting.
9. Smartphones: Mobile phone technology gets smarter, faster, and more integratable.
Smartphones have become faster, more powerful, and more functional since 2013. The new 5G networks now allow us to do more with our phones than ever before, such as gaming and streaming video so quickly that we can do it all in real-time without buffering.
Additionally, smartphone cameras have also become extremely powerful, with dual and triple-camera setups becoming the standard on most flagships. This has unleashed the creative and competitive power on a new level as content creators like filmmakers, chefs, and journalists now have the capability to film, edit, upload, send, and share content in real-time and on the go.
Think about how smartphones have transformed news journalism. Ten years ago, you could wait 24 hours to post a story and remain 'breaking news'. Nowadays, if you're not reporting news as it happens, your readers will switch to a rival news organization that is. Heavy and cumbersome equipment makes a great deal of reporting locations inaccessible, dangerous, or tedious to access, but smartphones cut down a great deal of barriers and obstacles to reporting, allowing reporters to cover events as they happen.
10. Electric and autonomous vehicles: A cleaner and safer future for the automotive industry
While self-driving cars remain a few years away from being on the public roads, they already have public-road tests being conducted worldwide. Tesla, with its Autopilot autonomous technology, and Waymo, a Google project, with its self-driving cars racking up millions of miles a year as part of its test runs, lead the way in the autonomous vehicle cause.
EVs are now also competing with traditional internal combustion engine (ICE) cars for their share of the market. Hey Car (UK and European car dealership) calls the EV market ‘booming’. Sales have risen by 40% in 2022, with around 660,000 EVs in the UK alone—a dramatic change compared to ten years ago when hardly any existed on the roads.
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