The Top Trends in Tech

As all things digital continue to accelerate, and which technology trends matter most for companies? To answer that question, McKinsey has developed a unique methodology to identify the ten trends most relevant to competitive advantage and technology investments.

1. Next-level process automation and virtualisation	50% of today’s work activities could be automated by 2025
2. Future of connectivity	Up to 80% of global population could be reached by 5G coverage by 2030
3. Distributed infrastructure	>75% of enterprise-generated data will be processed by edge or cloud computing by 2025
4. Next-generation computing	>$1 trillion value potential of quantum-computing use cases at full scale by 2035
5. Applied AI	>75% of all digital-service touch points (eg. voice assistants) will see improved usability, enriched personalization and increased conversation
6. Future of programming	~30x reduction in the working time required for software development and analytics
7. Trust architecture	~10% of global GDP could be associated with blockchain by 2027
8. Bio revolution	45x cost reduction for sequencing the human genome has been achieved in the past 10 years
9. Next-generation materials	10x growth in number of patents between 2008 and 2018
10. Future of clean technologies	>75% of global energy will be produced by renewable in 2050

Source: The top trends in tech-executive summary, McKinsey & Co

These trends may not represent the coolest, most bleeding-edge technologies. But they’re the ones drawing the most venture money, producing the most patent filings, and generating the biggest implications for how and where to compete and capabilities you need to accelerate performance.

In the next decade, according to entrepreneur and futurist Peter Diamandis, we’ll experience more progress than in the past 100 years combined, as technology reshapes health and sciences, energy, transportation, and a wide range of other industries and domains.

The implications for corporations are broad. Consider the compressive effects on value chain as manufacturers combine 3-D or 4-D printing with next generation materials to produce for themselves what suppliers had previously provided and eliminate the need for spare parts.

Watch retailers combine sensors, computer vision, AI, augmented reality, and immersive and spatial computing to wow customers with video-game-like experience designs. Imagine virtualised R&D functions in science-based industries like pharma and chemicals or a fully automated finance function in your company.

A recent McKinsey survey describes how, during the pandemic, technology further lowered 

barriers to digital disruption, paving the way for more rapid, technology-driven-change. Survey respondents in every sector say their companies face significant vulnerabilities to profit structures, the ability to bundle products and operations. That’s the price for progress!

 

Reference:

The top trends in Tech (https://www.mckinsey.com)