The key technologies of the future come from the research and development labs. Self-driving cars will appear on the streets, augmented reality glasses will become more popular, governments around the world will control Big Tech more strictly… 2022 may be the pivotal year for many new technologies to take off.

Emerging technologies

Rodney Zemmel, an official at McKinsey Digital, said quantum computing is still at a relatively early stage of development. However, we've already seen the real advancements of this technology, and it's time for technology leaders to consider its impact on business. In 2022, the world will see the ecosystem grow faster, investments increase more strongly, and breakthrough research accelerated. In 2021, investments in quantum computing startups surpassed US$1.7 billion, doubling that in 2020. The momentum is expected to be even stronger in 2022 as commercialization of quantum computing is more common.

2022 will see virtual reality (VR) – augmented reality (AR) glasses introduced. Many companies are expected to advertise their products before mass production in 2023.

Associated with the development of AR and VR is the issue of human rights and ethics, as well as transparency from technology platforms as it relates to content governance and privacy. The current AR and VR field is like a wild land, and the authorities should not underestimate the real problems that will arise as people move into virtual space.

Two years struggling with the Covid-19 pandemic show that biotechnology will be the next industrial revolution in human history. However, we are only at the beginning of the revolution, where artificial intelligence (AI) drives industrialization across the pharmaceutical and healthcare sectors. There will be more companies providing a full suite of solutions and products to bring biotechnology to huge markets.

The pandemic has also spurred emergency technology development, from tracing applications to electronic vaccine certification to office digitization, and the digital transformation of the public sector. Contactless medical technology or solutions to protect, process and update health information continues to grow. This is not a temporary trend but will become the foundation of future society.

Web3, blockchain and virtual currency

2022 will be the year we answer the question: is blockchain, Web3 a pillar of future technology or not? We will witness the application and adoption of blockchain in peer-to-peer (p2p) payments, international money transfers, and other useful applications to improve people's lives.

The value that blockchain provides will become clearer and more widespread across many industries, such as financial services and supply chains, in 2022. This will be the year financial institutions produce blockchain technology. In addition, decentralized finance (DeFi) is also finding its way into traditional businesses. Central bank-issued cryptocurrencies will be researched and developed.

Many businesses – especially in the banking, payment, and technology sectors – have been making large investments in virtual currencies. Virtual real estate has also become more familiar this year after trade can take place in the virtual universe (metaverse). When it comes to virtual worlds, even though they need at least a few years to become a reality, brands should also keep an eye on this new concept. It's an opportunity to reimagine virtual experiences and find newer ways to do the things we do in the real world, like building customer communities, experiencing goods, capturing buying behavior, and creating more personalized AI services.

Within the next five years, Web 3.0 will change the way we think about application development. It is the result of cracks in the current system, which puts user data in the hands of a minority of big tech firms. Thanks to blockchain technology, Web 3.0 will promote a decentralized Internet and return users' data to its owners.

A better technology world

In order to create a better technology world, it is important to deal with cyber attacks that are prominently known as ransomware. Over time, cyberattacks will not just happen to each individual's computer, but have the potential to disrupt our daily lives, affecting the way we buy gasoline, food, and even medical services. As cybercriminals gain more opportunities to make money from their victims, cyberattacks will become more severe in both frequency and scale.

Governments cannot stand by and watch, but need to put in place cybersecurity regulations for the public and private sectors. Protective measures, like updating to the latest technology and installing firewalls, must be seen as a must.

Technology develops at a very fast rate. Many new innovations and advancements replace old technology which promise to bring convenience, comfort and change the lives of many people. Technologies released in 2022 can be the foundation for breakthroughs in the near future. So, we should be ready to embrace the endless benefits that future technology brings.

Du Lam

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