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The rate of technological progress is accelerating, as you've probably heard before. It is unforeseen and surprising. In its Future of Jobs report, the World Economic Forum noted that a fourth industrial revolution is underway: Technology advancements in previously unrelated domains like genetics and biotechnology, 3D printing robotics, nanotechnology, and artificial intelligence and machine learning are all building on and amplifying one another. By the fourth industrial revolution in 2025, the majority of jobs' intended core skill sets will often include more than a third of talents that are not now regarded as essential to the job.
Leading this next industrial revolution is critical to surviving it. This necessitates two important parts of agile businesses: knowledge of disruptive technology and a strategy for developing individuals capable of capitalizing on it.
Here are 10 technologies that will transform the global economy and industry by 2025
It's difficult to keep up with so much new technology developing on so many fronts. Each breakthrough is marketed as "the next big thing." We've prepared a list of ten technologies that will drive the fourth industrial revolution in 2025 based on McKinsey Global Institute research and the knowledge of Pluralsight's subject-matter experts. According to the Institute, "Not every emerging technology will change the business or social landscape – but some truly do have the potential to disrupt the status quo, alter the way people live and work, and rearrange value pools."
As mobile computing devices take over internet connectivity, interfaces, formats, sensors, and apps will change. An extra 4.3 billion individuals may have access to mobile connectivity by 2025.
Goldman Sachs forecasts that the US$7 billion market for virtual and augmented reality will grow to US$90 billion by 2025. Technology infrastructure will undergo significant changes, and an ecosystem of apps for consumers and businesses alike will emerge.
The advancement of machine learning and user interfaces, such as speech and gesture recognition technologies, will boost productivity or completely replace some knowledge labor.
By 2025, 3D printing might enable new levels of mass customization and significantly lower the cost of supply chains, with an estimated $230 to $550 billion in yearly economic effect.
One of the most popular keywords from the previous decade will still be relevant in the coming one. As cyber security advances, more businesses are turning to the public cloud to supply nearly all IT services and online applications.
Currently, there are over 9 billion devices linked to the internet; during the course of the next ten years, that number is expected to increase by 50 billion to around 1 trillion. Monitoring and securing people, systems, devices, and even goods will be a challenge for organizations.
The delivery of goods and services will alter because of advancements in artificial intelligence, machine vision, motors, sensors, hydraulics, and materials. There will be an increase in IT expertise needed to create, manage, and maintain sophisticated robots.
The development of genetic engineering will follow the advancement of computer processing speed. Advanced analytics and DNA sequencing technology will increase agricultural productivity, lessen dependency on fossil fuels, and increase human life expectancy.
Although blockchain is most famously associated with the digital currency Bitcoin, a recent analysis revealed 64 other blockchain use cases across 200 firms. Commercial use will be fueled by streamlined, secure contracts and transactions.
According to a recent poll of security experts, 72% of businesses intend to do away with conventional passwords by 2025. New authorization services for face, voice, eye, hand, and signature identification will result from this.
Although the applicability and acceptance of quantum computing are unknown, the technology is progressing beyond the hype. According to Google's Quantum AI Laboratory, modest quantum technologies will be commercially accessible in five years, allowing enterprises to improve revenue, cut expenses, and minimize infrastructure requirements.
These technologies have the potential to provide significant benefits to many businesses, but they will also provide significant obstacles. The McKinsey report makes a few recommendations for preparing for these difficulties, with an emphasis on predicting future demands through staff training: "The nature of work will continue to evolve, necessitating strong education and retraining programs."
"Across nearly all industries, the impact of technological and other changes is shortening the shelf-life of employees' existing skill sets," according to the World Economic Forum. Talent to manage, shape, and lead the changes that are taking place will be in limited supply unless we take action now to create it.
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