Emerging technologies are not only changing the way we live at the present, but they are also setting trends that will shape the way we live in the future. From the controversial 5G networks to nanobots that could connect the human brain directly with cloud storage, hundreds of futuristic technologies are billed to change the way we live by 2030 and 2050.
While the future is not far off against what we tend to believe, here are 10 technology trends that will shape the next 10 years in our world (in no particular order):
- Gene Editing
Scientists will achieve greater milestones in the next decade to reduce the likelihood of diseases in human beings. This will be done using genome editing or gene editing to change how human DNA works in the face of debilitating diseases. Scientists at the National Human Genome Research Institute (NHGRI) are using a new gene-editing tool known as CRISPR to achieve this.
Gene editing can be used to change certain unwanted characteristics such as eye and skin color, growth, and development features, as well as risks of inherited diseases in humans. With a gene-editing tool such as CRISPR, the process is easier, faster, cheaper, and more accurate. In the next 10 years, scientists will be able to apply gene therapies to prevent or treat genetic diseases such as diabetes, cystic fibrosis, and sickle cell anemia among others.
There are ethical concerns involved with gene editing, but it is hoped that the government will have resolved them by then. Hedge funds have been betting on this technology by investing in CRISPR Therapeutics AG (NASDAQ:CRSP). CRSP was trading at $13 only 3 years ago and the stock today is changing hands for $90 a share. Also you can see our article about 10 countries with the highest medical research spending.
Likoper/Shutterstock.com
- Electric/Self-Driving Cars
Electric and autonomous cars are the vehicles of the future judging by the heavy investments of automakers in the industry (see the best automotive stocks to buy). The investments cover design, software, hardware components, and other crucial development factors. But it is not only the electric vehicles (EV) and self-driving autonomous vehicles that will take the center-stage in a decade’s time, internet-connected vehicles will also be commonplace.
EVs are powered by onboard batteries or hydrogen fuel cells which must be fully charged at designated points for them to work. They do not use gas like cars with internal combustion engines (ICE). Autonomous or self-driving cars on the other hand can navigate the roads without the direct control of the driver. With a semi-autonomous vehicle, a driver can take over at certain times.
Self-driving cars can perceive their current environment through the use of ultrasonic sensors and cameras which are controlled by software to determine its position, distance to other vehicles, obstacles or signs, as well as road limits. Passengers only need sit back in the vehicle to be transported to any destinations, while they can be certain that the vehicle will navigate smoothly without colliding with vehicles, obstacles, or humans. These cars are environment-friendly since they emit very low carbon. Tesla Inc (NASDAQ:TSLA) is the most straightforward way to gain exposure to this technology in your portfolio. You can also consider investing in Alphabet Inc (NASDAQ:GOOG), however, Alphabet Inc isn’t a pure play self-driving cars investment.
- 5G Network
Forget the controversies and misconceptions that attended the 5G concept during the recent COVID-19 pandemic; 5G remains a technology trend that’ll shape how we connect to each other in the next 10 years. The fifth generation of cellular technology is the next thing to emerge after 4G networks and 4G LTE devices. While the 4G delivers a peak speed performance of 1 Gbps, 5G technology is designed to have a peak speed of 20 Gbps.
With the coming 5G, the Internet of Things (IoT) will become a fuller reality where everyone and everything will be virtually connected together. Humans, machines, objects, and devices as well as appliances will be able to connect and communicate for personal, business, and gaming purposes. With global internet connectivity covering almost everywhere, the massive network capacity will improve digitalized logistics, precision farming, remote healthcare, cloud storage, safer and faster transportation, and communication with personal devices and home appliances.
As of June 2020, about 45 countries already have 5G network technology, and by 2030 it will have been deployed in 198 countries.
- Solar Energy
Given that the existence and health of all living things are dependent on solar energy reaching the Earth, the future of human existence will remain more dependent on solar power. People already harvest energy from the sun to power home appliances, cook meals, heat homes, and produce hot water, but the next 10 years will be more revolutionary in the use of renewable energy from the sun to live our lives, manage businesses, and run national economies.
According to the International Energy Agency (IEA), the entire world currently generates 1% of its power from the sun, but this could increase to 27% by 2050 given the emerging technologies in the solar power industry. In the next 10 years, however, there will be more floating solar farms installed on large bodies of water, there will be cars running on solar energy, and solar power will be more storable for later use at nights.
- Home Battery Storage
While solar power remains one of the best options to keep the lights running in our houses, we’ll only be able to enjoy it best when we store it using dedicated home batteries. With home battery power storage, we can store solar energy for long-term use when the national electricity grid is down or when the sun refuses to come up (as if that’s possible for a lengthy period).
Tesla manufactured the Powerwall battery to store solar power for home and industrial use, and other manufacturers have also done the same, giving homeowners a lot of battery options to power their homes.
But in the next 10 years, battery storage owners will be able to also sell excess power to other homeowners in their neighborhoods using a variety of batteries for solar energy systems. The idea of generating one’s own electricity and selling the same to others in the neighborhood is exciting and will be more commonplace in a decade from now.
- Machine Learning/Artificial Intelligence
Many personal devices and digital home appliances as well as newer vehicle models run on artificial intelligence (AI). With deep machine learning (ML), robots now perform industrial functions and even carry out sophisticated surgery procedures with remarkable precision. But the next 10 years will witness ML and AI for amazing wireless communication between humans and machines.
Machine learning will determine how we live in the next decade. Given that Amazon’s Alexa is a voice assistant that is indispensable to most users, developers and marketers will explore similar technologies in the future to build relationships and business opportunities. In the coming decade, interactions between humans and machines or devices will be more personal and humanized with lots of palpable emotions. Please read our article about the top 5 robotics and artificial intelligence stocks to buy if you want to gain some exposure to this cutting edge technology.
- Space Tourism
While NASA astronauts are busy conducting experiments at the International Space Station (ISS) with little or no time for leisure, Elon Musk’s SpaceX and Jeff Bezo’s Blue Origin among others are already gearing for commercial space tourism. This means people can pay to visit space for a week or two to check out the moon and Mars and other celestial bodies.
Space tourism companies are working hard to have people visit sub-orbital, orbital, beyond Earth orbit for recreation purposes in the next 10 years. In April 2001, American businessman Dennis Tito went to space for leisure purposes aboard the Russian Soyuz spacecraft and spent a week at the ISS after paying $20 million, but it will be more feasible for almost anyone in the coming decades. Just apply, pay the necessary fees, undergo the necessary training, and blast off to space; and who knows, families may even be able to lift off to space for some out-of-the-world vacation. Virgin Galactic Holdings, Inc. (NYSE:SPCE) is the only pure play publicly traded stock in this space.
- Implanted Microchips
With thousands of people in Sweden getting microchipped a few years back, you may end up getting microchip implants in the next 10 years too. With microchip implants, people in Sweden can verify their identities on various computer and security systems with ease, and they can access offices, homes, gyms, and even banks by swiping their hands against a digital reader. Users can also use public transportation, utilize e-tickets, access social media profiles, and store emergency numbers with absolute ease.
The convenient technology has also been embraced in the US and by 2030, people with implanted microchips will be able to monitor their health and internal organs for changes. To this extent, drugs can continuously be administered to people with diabetes and other diseases, while doctors and patients will be able to obtain precise health reports in real-time.
- Floating Farms
Floating farms are not only the future of agriculture, but smart farming is. Floating farms are technological farms built on artificial platforms constructed on bodies of water, and with a smart input, these could be very technological in practice. Sometimes, there are also high-rise farms that are suspended in the air and even built on high-rise buildings to cater to animal husbandry and crop cultivation.
In the next 10 years, floating farms on water and smart-farms on high-rise buildings will be more common around our cities. Almost everyone will be able to cultivate their own crops on the tops of their roofs, and these farms will be controlled using advanced digital technologies. These smart technologies will monitor crop growth, nutrient uptake, pest control, and other aspects of crop production and animal rearing.
Maybe this development will usher in the anticipated smart cities in the coming decades.
- Eye-Control Technology
Eye-control technology makes it possible for people to control computers with their eye movements. It is an eye-sensor technology that enables computers and connected devices to sense human focus, attention, and presence. Since the computer tracks eye movement, the user can control digital operations using only his eyes.
The use of eye-control technology is already in use in some countries but it is still in its infancy stage. But in the next 10 years, it will roll out to more countries and usable by people with disabilities – such as the dumb and the paralyzed. It will be an assistive technology for disabled people to communicate and do essential things such as drawing as is the case with Felicia Bowers, a cerebral palsy kid who uses her eyes to draw using eye-control technology.
In the next 10 years, most people will be able to control their smartphones, home appliances, personal computers, and assistive gadgets using eye-tracking technologies.
Disclosure: None.
