5 technology trends you must be aware of in 2022

Technology is currently developing rapidly, thus facilitating speedier change and advancement. Workers in the Information technology industry are now aware that their job roles will change in the future due to several other changes as well as emerging technology trends.

It is of utmost importance for organizations to seek cost-effective measures when searching for smart and well-structured solutions. Although most companies are becoming more open to adopting digital practices. Inventive solutions which would aid in achieving both short and long-term modifications are needed.

Let's dive into 5 technology trends you must be aware of

1. Robotic Process Automation (RPA)

2. Artificial Intelligence and Machine Learning

3. Quantum Computing

4. Virtual Reality and Augmented Reality

5. Internet of Things (IoT)

Robotic Process Automation (RPA)

RPA refers to the use of computer software to enable automation of a company's procedures like responding to emails, reading applications, and handling transactions and data.

Building and managing software robots that mimic human interaction with digital systems and software is made simple by robotic process automation (RPA) software technology. Similar to humans, software robots are capable of understanding what is displayed on a screen, navigating computer systems, locating and extracting data, making the proper keystrokes, and extracting and carrying out a variety of predefined tasks.

You must be wondering? How does robotic process automation work?

Robotic process automation works by getting data from your current information technology systems. The integration of robotic process automation tools with your applications can be done in a variety of ways. The backend's connectivity to enterprise web services and databases is one way. The use of desktop or front-end connections, which can be made in various ways, is another.

Let's dive into which approach is ideal?

Your business and the needs the solution will meet will determine this. A process automation server's control over systems and services is accessed by your automation through backend connectivity. This is most frequently utilized for unattended automation, in which your software robots handle back-office activities like — processing of insurance claims in bulk with little staff involvement.

Cons OF RPA

It has been predicted in a study that robot process automation could put the lives of about 9% of the entire workforce population in danger. Although RPA is changing prevailing jobs, new ones are simultaneously being generated.

Approximately 60% of vocations can be somewhat automated, according to McKinsey, while less than 5% of them can be fully automated.

Artificial Intelligence and Machine Learning

A general phrase used to describe machines or systems that imitate human intellect is known as artificial intelligence.

Artificial intelligence has been the subject of discussion over the past years making it one of the newest technological developments. The supremacy of artificial intelligence in areas like navigational applications, image recognition, personal assistants for smartphones, speech recognition, and many other areas is already well established.

It has been forecasted that, by 2025, the AI industry will be worth $190 billion. New positions in programming, maintenance, support, and development, will arise as AI spreads its wings in other industries.

The branch of artificial intelligence (AI) known as machine learning (ML) is centered on creating systems that can learn from the data they are provided and hence enhance their performance. Although the phrases machine learning and artificial intelligence (AI) are often used interchangeably, they have different meanings.

Pros of artificial intelligence and machine learning

AI will also be utilized in evaluating interactions to uncover hidden insights, forecast the need for services such as health care facilities i.e hospitals so that decision-makers can allocate resources more effectively, and identify shifting prospect behavior patterns by interpreting data almost instantly. This will all lead to more individualized experiences for customers.

Machine learning is currently being used everywhere. Machine learning algorithms are used to make our interactions with social media platforms, online shopping, or when we use mobile banking platforms.

Cons of artificial intelligence and machine learning

• Lack of creativity: The inability of AI to learn to think creatively beyond the box is a significant drawback. Although AI can learn over time, it is not capable of taking a novel method.
• High cost: It costs a lot. It's a significant accomplishment when a machine can mimic human intellect. It is very time-consuming and resource-intensive as well as expensive. AI is highly expensive because it needs to run on the most recent technology and software in other to stay current and meet standards.
• Increased Unemployment: The fact that robots are gradually taking over a measurable number of tasks is perhaps one of artificial intelligence's biggest drawbacks. Many job opportunities have vanished as a result of the decline in the need for human interference.

Quantum Computing

This is the utilization of unified quantum features like superposition to carry out an analysis. It resolves issues more quickly and meticulously in certain circumstances, even problems that current supercomputers can't resolve.

Large data may become easier to manage if this is posted. Through quick simulations, it might shorten the time spent developing expensive and complicated systems and easily handle multivariate optimization issues.

Due to its remarkable ability in analyzing and monitoring data from various sources, this technological advancement was quite helpful in reducing the spread of Covid 19 and also in the generation of viable vaccines.

Banking and Finance is another industry where quantum computing is being used for the detection of fraudulent practices and credit risk management. It is projected that by 2029, the market for quantum computing is expected to generate more than $2.5 billion in revenue.

Pros of quantum computing

Machines are now able to monitor data in a way that is fundamentally distinct from how conventional computers do so because of the development of quantum computing, which involves processing data that is depicted by unique quantum states.

Cons of quantum computing

There is the need for you to be proficient in information theory, linear algebra, and machine learning for you to be able to succeed in this current, hot field of technology.

Virtual Reality and Augmented Reality

Augmented and virtual reality use simulations of real-world environments either to augment or completely displace them. Using a phone camera, augmented reality typically enhances your environment by including digital features in a live view.

Virtual reality is a comprehensive simulation of the environment that completely displaces the user's real world with a virtual one. These virtual worlds are wholly artificial, hence they are frequently created to be bigger than life.

In augmented reality, a virtual environment is created to coexist with the real world to provide users with more information about the real world without them having to inquire about it. For instance, when a smartphone is pointed at a piece of malfunctioning equipment, industrial AR apps might instantly provide troubleshooting information.

While both augmented reality and virtual reality are intended to provide the user with a simulated surrounding, each idea is distinct and has a variety of applications.

While AR improves the environment, VR absorbs the user in it. Even though up until now, virtual reality has predominantly been adopted for gaming, it can as well be used during training, as demonstrated by the use of VirtualShip, a simulation program usually used for training captains of the United State Army, Coast Guard ships and Navy.

AR and VR are frequently used in conjunction with some other cutting-edge technologies. They have tremendous potential for use in entertainment, marketing, training, education, and even post-injury rehabilitation. Either may be used to improve marketing for business owners, train doctors to do surgical operations, or provide museum visitors a more immersive experience.

With improved 3-D visuals, AR and VR are perceived for offering an improved experience that merges the virtual and real worlds.

Pros of Virtual Reality and Augmented Reality

You should be aware that starting VR doesn't call for extensive knowledge. You can acquire your dream job by using fundamental programming skills and a futuristic viewpoint.

Learning is more convenient and pleasant using VR in the classroom. When used properly, augmented reality (AR) may add a wealth of useful and fascinating data to a real-world scenario.

Cons of Virtual Reality and Augmented Reality

Virtual reality (VR) frequently transports you to a different location that is separated from the current environment, making it an isolated, solitary experience.

For demos, VR is sluggish. Setting up the headset, donning and adjusting the headset, describing the controls, and allowing the user to watch the information all require time and The cost of AR/MR headsets is high.

Internet of Things (IoT)

The term "Internet of things" refers to real-world physical items equipped with sensors, processing power, and other technologies that communicate and share data with other devices either over the net or other networks of communication

We already derive a lot of benefits from the Internet of Things as consumers. Although companies stand to benefit greatly both now and in the future. This technological trend is still in its infancy: A huge web of interconnected devices, ranging from smartphones to household appliances, is predicted to be created by the use of about 50 billion of these IoT gadgets by the year 2030.

Pros IoT

Human labor is reduced as a result of IoT devices' ability to connect, communicate, and perform numerous tasks on our behalf. Since less human work is required, time is unquestionably saved. The main thing that may be saved using an IoT platform is time.

Now that various "things" have connectivity to wireless fidelity, they can connect to the Internet and one another. In light of this, the Internet of Things, which is already enabling cars, electronics, home appliances, and others to be able to connect to the Internet and share data, is the wave of the future.

Cons IoT

To work with this cutting-edge technology, you'll need to comprehend information security, networking, automation, hardware interface, basics of artificial intelligence (AI), data analytics, and machine learning.

These 5 technological advancements offer excellent job prospects both now and in the future, even though technologies are always developing and advancing around us. The majority of these emerging technologies also welcome competent workers, so now is the ideal time for you to select one, receive training, and join from the start, placing yourself for success both presently and in the foreseeable future.