By Alok Bansal, Managing Director, and Country Head, Visionet India
October 4 2021: With the democratization of information, it is easier to learn and stay updated with the trends. In 2021, when you look at the technological advancements, the trending technologies have dramatically taken over the corporate digital transformation. To develop robust new digital capabilities, organizations constantly endeavor to create innovative systems and strategies and build a workforce supporting these initiatives.
Moreover, a dedicated team of employees who can accommodate recent technology trends are equipped to fulfill business goals effectively. Similarly, it is essential to stay updated about the emerging trends to secure the desired position in any industry effortlessly if you're a job aspirant.
Several organizations are already looking for the right talent. Are you up for the game? Let's check out the trending technologies in the industry.
Internet of Things (IoT)
Industry leaders are slowly building the future plans of their businessesusing Internet of Things (IoT) technology. The BBC Research expects that the IoT market may reach around $141.2 billion globally by 2023. The amalgamation of technologies with people, content, devices, and services is the framework for new business models.
Even though this innovation is in its initial phase, soon, we'll be able to look at how IoT is remodeling our daily work and personal life by facilitating different services.This includes improved healthcare, forecasting maintenance, better customer support, amongst others. The rise in IoT adoption opens more career opportunities in this domain with demand for two types of professionals -firstly, employees with the technical expertise to connect different platforms; second, resources with data analytics skills as it helps churn a high volume of information produced by IoT applications for core operations.
Augmented and Virtual Reality
Augmented Reality (AR) and Virtual Reality (VR) became an incredible source of transformation in various sectors, ranging from entertainment, retail, business to school. We all witnessed an immense shift to the remote working model due to the COVID-19 outbreak. However, in these unprecedented times, communication and collaboration turned into a smooth process by leveraging AR and VR immersive technologies.
Statista predicts that investment in AR and VR for on-site assembly and safety can growat 177.4% CAGR by 2023. Besides, be prepared to see more AR/VR integration with the upcoming 5G network and expanding internet bandwidth innovations. With AR-enabled devices and internetaccess in the pockets of half the world, the trend is not going away anytime soon.
Are you excited about this immersive technology? As an AR/VR engineer, you need to be aware of the integration of Artificial Intelligence with AR and VR, remote assistance, AR cloud, facial expression recognition, AR avatars, virtual sports events, and eye-tracking to thrive in any industry.
Data breaches affect large corporations and small companies alike throughout the world. The ever-growing adoption of digital devices, along with remote working model during the pandemic, has exposed everyone to malicious hackers. It means our data is at threat.
Last year, you must have heard about millions of Zoom accounts getting compromised. It raised this question in the minds ofall remote workers - what are we doing to make our virtual workplace safe to conduct meetings or share data? The solution is recruiting and enabling cybersecurity experts to secure our businesses from malicious actors.
Secure processing and transmission of sensitive data can avoid cyberattacks. A balance between transparency and privacy is also essential whilefocusing on cybersecurity. Hiring a cybersecurity expert means securing computers and sensitive information from those vulnerabilities. The U.S. Bureau of Labor Statistics reports that Information Security jobs can increase by 31% from 2012 to2029.
This trend necessitates you to stay up-to-date about relevant skills. It includes digital ethics and privacy, end-to-end communication security, easy adaptation security, privacy-enhancing system, zero-trust security, and DevSecOps.
Blockchain technology is one of the most influential superpowers in our lives. Well, if blockchain interests you, get ready to have a bright future in it. As per a study by Gartner, the business value added by Blockchain will occupy more than $176 billion by 2025 and is expected to go beyond$3.1 trillion by the year 2030.
There is also the plausibility of cryptocurrencies being divided intoseveral currencies and traded at a high value in the market.
Along with cryptocurrencies, this technology is valuable in different ways. For instance, it supports various businesses by enabling the authentication, storage, and protection of their most critical data. As a result, we can notice a mass adoption of this technology by year-end.
What's more, you can use this incorruptible resource to analyze and evaluate data promptly for actionable insights. Hence, this technology marvel has significant potential to digitally transform a myriad of sectors, including financial, healthcare, energy, automobile, and industrial engineering. With the demand for this technology rising steeply, we can expect an increase in Blockchain careers. Related job roles that we can see emerging in various industries are Blockchain Engineer, Blockchain Developer, Blockchain Quality Engineer, and Blockchain Legal Consultant.
Next comes 5G, or the fifth generation of cellular networks that promises about 40 times more stable and quicker wireless networking. According to the Global telecom industry body GSMA, India's 5G market can grow at an incredible pace, with a prediction of 88 million subscribers by 2025. However, it doesn't stop here.
The growing customer base means the futuristic innovation will create a wave among businesses of any industry. 5G services coupled with other trending technologies we discussed,like IoT, AR, and VR are supposed to transform the world exponentially. Some of the use cases of 5G include connected healthcare, autonomous mobility, smart cities and better security.
Thus, we'll see new infrastructure, utility upgrades, and high demand for 5G proficient employees from big enterprises and startups.
The Covid-19 crisis has catalyzed a technological evolution to an unprecedented extent across industries. Even though there are apprehensions about workforce impact, unquestionably, innovation is the future as various sectors implement these technological solutions. Hence, staying in line with the cutting-edge technology trends mentioned above is crucial for everyone to be digitally savvy and retool for the future.
Visionet is a Cranbury, New Jersey (US) digital services provider with a Bangalore operation.