1. New Technology-Empowered Business Models
Subscription services, direct-to-consumer, ad-supported “freemium” models, and the on-demand economy have grown exponentially in the past few years and led to disruption of established business models. With new hardware and more efficient software, this disruption will only continue.
2. Increased Data and Privacy Regulations/RegTech
Introduction of the GDPR in the EU and an increased number of data breaches with major companies is leading to public concern over how tech companies operate and will result in technology regulation and improved technology practices.
3. Financial Solutions Built for the Masses
Many financial products and services are tailored for the massively wealthy, but with more efficient technology, companies can begin to offer financial solutions for the “long-tail.” This will include getting more of the world included in the banking system and offering new financial management options for the masses.
4. AI, ML, and Automation Replacing the Services Industry
AI and ML can help improve the quality and breadth of automation, allowing more service industries to be replaced with more efficient and cheaper technological alternatives.
5. Natural Language Processing (NLP) Making Computers Increasingly Human
NLP is a subfield of AI that allows computers to process and “understand” language. This is an incredibly difficult task, but is rapidly improving and allows products, such as chatbots and voice recognition, to become increasingly human.
6. 5G Helps Realize the Internet of Things (IoT)
Telecom companies are beginning to role out 5G in 2019, allowing a massive increase in devices per square kilometer. Analysts are estimating more than 20 billion new IoT devices will be installed by 2020 due to 5G networks.
7. Continued Development of New Computing Paradigms
Two of the most nascent but impactful areas of technology development are Edge Computing and Quantum Computing. These new computing paradigms, once fully developed, will exponentially expand the capabilities of computers and change how technology operates in our society.
8. Blockchain Empowering the Open Source Movement
Blockchain offers the opportunity for a decentralized network of developers to contribute and be rewarded for working on a project. While the open source movement has seen massive growth recently, financial incentives for developers have been missing.
9. Rise of Technology from Emerging Markets
San Francisco has long been the hub of most tech companies, but with the recent surge in blockchain companies and growth of emerging markets, more tech companies are choosing headquarters outside of Silicon Valley and the United States. India, China, and Malaysia in particular are seeing rapid technology adoption and creation.
10. Increased Usage of Biometrics and Bioengineering
Biometrics can allow for improved security and medical analytics. Bioengineering allows for improvements in the health industry, never before thought possible. As data analysis, sensors, cameras, and biotech improve in quality, these will see more integration into products.