By looking at the rate of technology growth over the past decade, we can clearly see the enormous progress humanity has made in terms of new technology and its implementation in our everyday activities. Therefore, it is quite intriguing to observe how future innovations of 2050 could change the way we live our lives.
Let’s take a look at our top 10 predictions for future innovations:
- By 2050, the Internet will become a truly global network and it will permeate every part of our planet and our everyday lives. We won’t be able to imagine our lives without being connected to the internet. Everything and everyone will be connected to the global network, cars, home appliances, public transport, elevators, traffic light signals, etc. All devices will be network-enabled. Satellites in lower orbits will provide total global network coverage. Wireless networks will act as the primary access point for most devices. The cellular network will be extremely fast and low latency, enabling a whole new level of innovation and technological advances such as high-precision weather forecast, self-driving cars, etc.
- Vehicles and transportation systems will be completely under the control of Artificial Intelligence. Cars will have self-driving technology. You will be able to request your car to pick you up anywhere and drive you in autopilot mode to your destination with a click of a button on your phone app. The number of traffic accidents will practically be reduced to zero. The efficiency of transport will be at such a high level, that traffic jams will be a thing of the past. A new generation of people will be born who will not need to know how to drive and will not need to obtain a driver’s license. There will be quicker transit times, and lower human fatigue, which further affects productivity.
- AI will completely replace people in various industries, services, trade and other labor markets. AI will help us automate production and management processes in business and processes in everyday life. Companies will use AI to serve customers and perform other highly specialized tasks to reduce costs and improve efficiency. AI will be able to set up processes more efficiently and with fewer errors than humans.
- The development of software products will be largely automated, and the participation of artificial intelligence in it will reach 40-50%. AI will greatly simplify the development of software architecture and its individual elements. Software development will become faster and easier. Identification of errors will be faster and easier at all stages, and the introduction of AI will allow a high degree of automation of the testing process. The level of understanding by the artificial intelligence of a person will be at such a level that you can explain your idea to an intelligent assistant in natural language, and an intelligent assistant will understand it and automatically generate executable code, which will significantly speed up the creation of a prototype of a software product.
- For organizations of all forms of ownership, a global hybrid structure will appear that combines the functions of CRM, ERP, BI, local AI management systems, which will provide control of all processes with a voice in natural language. You will be able literally, with the help of words, to run a company without having any staff. Work that previously required 3-4 people of management staff to carry out, will now be replaced by the system. Business processes such as finances, accounting, lead generation, market analysis, website management, customer service, product development, and fulfillment can all be automated under the smart system under the control of AI. It will be the beginning of the entrepreneurial boom. New types of businesses and organizations will emerge. The level of entry into the market for many various niches will be leveled.
- The Financial sector will undergo significant changes in its activities towards the development of peer-to-peer electronic payment systems. Decentralized finances on a blockchain will be dominant throughout the world removing the need for an intermediately central system to manage various payment transactions between organizations and individuals. People around the world will have access to various financial instruments that are only available to a few in the developed world of today. Any person in any part of the world will have equal opportunities to invest in companies, to request loans, and other financial tools.
- The “era of eco-projects” will come, the share of which may reach 25% of the total employment of the world’s population. The ultimate goal will be to develop and implement environmentally friendly technologies in all areas of human activity to minimize the consequences of environmental pollution and global climate change. Due to the worsening situation with global warming, the main focus will be on producing clean energy.
- Humanity will begin to intensively introduce robotics and exoskeletons at all stages of activity from production and services to solving everyday problems in everyday life. Robots will be used in hospitals to perform surgeries, as customer service representatives at exhibitions, to walk pets, to help with manual tasks around the house, in construction sites and much more. Specialized machines can do complex jobs much more efficiently than humans can, and its implementation will only keep growing.
- The share of artificial intelligence and robots in the study and exploration of outer space will grow tenfold. The commercial space exploration of the solar system will begin. Asteroids mining for the extraction of precious metals and rare chemical elements and space tourism will become the main commercial activity in space. Robotic space missions will become much cheaper and can provide humanity with greater scientific information about our solar system and beyond.
- The use of drones and flying cars will grow exponentially. Governments and companies will rely on AI drones for many of their activities. Automated drones will allow logistics companies to cut the delivery time significantly. Drones will deliver goods and food to customers. In the agriculture industry, farmers will use drones to strategically monitor and spray their crops and to manage and monitor livestock. More drones will be used by the military for combat and reconnaissance. Law enforcement agencies will use drones for surveillance of cities for crime. Drones will also be used by firefighters, for monitoring wild areas with a high probability of fire, and search and rescue operations. Flying cars will become more common for intercity travel and will be available to many.
Scientific and technological progress will grow rapidly. It will redefine industries and our daily lives in many ways and we will need to anticipate these new technological changes and adapt quickly in response. We must be ready to embrace new technologies, new business models, new possibilities and ideas as they emerge and try to extract the most benefit from them.
Nobody knows for certain what innovations await us in 2050, but even now we can see that the future of technology holds massive potential to transform businesses, markets, countries and our day to day life.