2. What do you think will be the next biggest technological advance? Answer

5. Applied Artificial Intelligence (AI)
AI is one of the biggest tech trends. We are still only in the early days of the development of AI. As the technology becomes more sophisticated, it will be applied to further develop tech-based tools, such as training machines to recognize patterns, then act upon what it has detected.
By 2024, AI-generated speech will be behind more than 50% of people’s interactions with computers. Companies are still searching for ways to use AI effectively though, the consultancy says: “While any company can get good value from AI if it’s applied effectively and in a repeatable way, less than one-quarter of respondents report significant bottom-line impact.”

6. Future of programming

Get ready for Software 2.0, where neural networks and machine learning write code and create new software. “This tech trend makes possible the rapid scaling and diffusion of new data-rich, AI-driven applications,” according to McKinsey.
In part, it could see the creation of software applications far more powerful and capable than anything available today. But it will also make it possible for existing software and coding processes to be standardized and automated.

7. Trust architecture

In 2019, more than 8.5 billion data records were compromised. Despite advances in cybersecurity, criminals continue to redouble their efforts. Being a growing tech trend, trust architectures will help in the fight against cybercrime.
One approach to building a trust architecture is the use of distributed ledgers, such as blockchain. “In addition to lowering the risk of breaches, trust architectures reduce the cost of complying with security regulations, lower the operating and capital expenditures associated with cybersecurity, and enable more cost-efficient transactions, for instance, between buyers and sellers,” McKinsey notes.

8. Bio Revolution

There is a “confluence of advances in biological science” that “promises a significant impact on economies and our lives and will affect industries from health and agriculture to consumer goods, energy and materials.”
Propelled by AI, automation and DNA sequencing, the bio revolution promises the development of gene-therapies, hyper-personalized medicines and genetics-based guidance on food and exercise. These tech trends will create new markets but will also raise some important ethical questions. “Organizations need to assess their bQ or biological quotient – the extent to which they understand biological science and its implications. They should then sort out the resources they need to allocate to biological technologies and capabilities and whether to integrate those into their existing R&D or partner with science-based start-ups,” McKinsey says.