Top IT Innovations Expectations in 2022
Want to know where our world stands in terms of technology? Find it here. Check out all the 2022 IT trends.
Technological advancements happen in the blink of an eye in today's fast-paced digitalized society. Innovations are propelling industries to innovate and accelerate digitalization by incorporating new technologies like IoT, AI, blockchain, AR, and more into their core strategy. Since Covid-19, the demand for digitalization and technological breakthroughs has grown in prominence and urgency in today's world. Blockchain technology, smart production, AR augmented retail applications, and other areas have witnessed significant advancements in 2020 and 2021. Here are some predictions for 2022 and beyond:
A wide number of industries have boosted their adoption of 5G to enable a more connected and digitized world, including computing, industrial, healthcare, entertainment, and more. 3D robotic control, VR monitoring, and other technologies are among the technologies that 5G may address and operate with. It allows things, gadgets, machines, and other devices to communicate with one another. When compared to 4G, 5G technology is the next sophisticated evolution of 4G and intends to enable a considerably faster pace of activities. In 2022, global 5G subscribers are estimated to reach 1 billion (Statista).
Artificial intelligence, deep learning, and other decision-making technologies enable firms to make data-driven, intelligent, and speedier judgments. These decisions are supported by substantial data and enable problem-solving. Morgan Stanley and Lloyds Group, for example, employ DI for their financial planning platform and other business operations, allowing them to evaluate consumer behavior, better cater to their needs, and provide a personalized touch. According to Gartner, a third of enterprises will use DI for informed decision-making by 2023.
Smart City Adoption
Smart city technology will emerge as a developing software trend in 2022 and beyond, according to Forbes, as the urban population seeks more effective and smarter cities. During the projected period, the international smart city market is expected to develop at a CAGR of 13.8 percent, from USD 457.0 B in 2021 to USD 873.7 billion in 2026. IoT, sensing technologies, blockchain, and other technologies are all important in the creation of smart cities. These digital technologies help to improve decision-making, traffic control, energy efficiency, climate control, and overall quality of life.
AI is well-known for enabling automation in a variety of industries. Hyperautomation allows most procedures to be automated, reducing human interaction and speeding up operations, which is extremely useful to organizations. Since the release of Covid-19, the demand for process automation has increased. Hyperautomation appears to be a very efficient way to boost production and cut costs. Hyperautomation will become more widely adopted in 2022 and beyond in sectors throughout the world. According to Gartner, the global hyper automation-enabling software industry is expected to reach approximately $600 billion by 2022. Hyperautomation has now become a necessity in today's digital-first environment in order to speed up the digitalization process.
According to IDC, over $6.6 billion would be invested in blockchain applications in 2021, a 50 percent increase over 2020, and a 75 percent rise in 2022, totaling $11.7 billion. It also predicts that blockchain spending would expand at a CAGR of 48 percent from 2020 to 2024. In 2022, it is also expected that blockchain services would be used to track vaccination distribution and delivery. Retailers are increasingly using this program to track goods delivery to customers more effectively than ever before. NFTs based on blockchain technology is becoming more popular as a way to assert ownership of a digital asset.
For a long time, cryptocurrency has been the hot new thing. It is likely to become a more relevant and widely used form of investing in 2022 as well. Cryptocurrencies are now on a thrill ride since Covid-19, but it hasn't stopped the introduction of more cryptocurrencies into the crypto market, in addition to the well-known Bitcoin, Ethereum, and many others. Ethereum, the second-largest crypto, may overtake Bitcoin as the first crypto in 2022. In 2022, the adoption of bitcoin as a legal form of payment may rise, removing a key roadblock and making room for more cryptocurrencies and advancements within them. Many countries, including China, plan to develop their own virtual money to combat cryptocurrency's unregulated character and make it a legitimate payment method/currency. This will also limit the use of bitcoins for illegal purposes. If businesses begin to accept cryptocurrency as a form of payment, the retail industry would undergo significant changes, as Amazon did in 2021 when it evaluated Bitcoin for merchandise payments. As the world drives us to take further cautious steps and decisions with a cleaner environment in mind, we might expect innovations to lower the carbon footprint when mining such currencies. As a result, the potential for cryptocurrency advancements in 2022 and beyond is limitless.
Another AI utility, generative AI, is poised to raise the bar for AI use cases and provide compelling reasons for businesses throughout the world to adopt it. It is based on an algorithm that can generate similar material from data in the form of text, audio, photos, and so on. Higher-quality outputs are possible with this self-learning technique. This application of AI has its own set of restrictions, which leaves the potential for innovation and the development of technologies/methods to address them. Healthcare may greatly benefit from generated AI, and IBM has already started to use it to find treatments for Covid-19 by exploring antimicrobial peptides.
Technologies running Smart Devices
Various technologies have made our lives easier and tech-driven, from smart automobiles to wearables like smartwatches, TVs, phones, and more. One of the key driving technologies behind this connection of smart devices is the Internet of Things (IoT). According to Statista, the number of wearable linked gadgets will exceed one billion by 2022. We may expect fresh and exciting features to be added to the list as more manufacturers enter this market. Despite smartwatches' dominance, the wearables market has seen a slew of new products, including hearables, digital patches, and more. Smart wearables for tracking Covid symptoms were a relevant and much-needed breakthrough in today's Covid-19 age and will remain to be as we strive to eradicate Covid-19 in 2022. Currently, 4G is used, but 5G will be available soon to aid in the connectivity of such devices. According to Statista, the number of 4G-connected wearable gadgets will grow by 89 million in 2022, connecting over 900 million individuals. Smart helmets, for example, are expected to gain in popularity since they offer fascinating capabilities such as monitoring speed, stamina, listening to songs, GPS applications, and more.
According to Gartner, by 2025, CNP will be the foundation for 95 percent of all new digital efforts, up from 40 percent in 2021. The need to use cloud-native applications/approaches instead of the traditional on-premises architecture approach is more clear than ever in today's world. According to Mckinsey, more than 70% of businesses would rely on some type of cloud management solution for various business functions by 2022. CNPs aspire to take cloud computing to the next level by making infrastructure management simple. CNP offers a variety of advantages, including faster service, lower costs, and automatic scalability. In 2022, cloud security revenue is expected to reach $474 billion, as it becomes the backbone of company operations in an increasingly digitized world.
While these are only a few of the IT trends we may expect in 2022, the actual number is rather large as businesses around the world transition to a digitally transformed operating environment. With the recent developments and conditions to which we have been exposed, technological advancements have proven to be a valuable ally and will continue to do so with their vast possibilities.