Technology is unpredictable. It carries surprises for the generations. Once it was the rise of the radio, then it was the advent of the internet. Few years back, people were using radio, television, telephone, camera, music player, and computer separately, but today the internet has converged all these entities in one place: mobile phones. Yes, the converging technologies! The acceleration and convergence of exponential technologies are transforming businesses, industries, and lives. These converging technologies are reshaping every industry and society. It makes sense that the decade to come will be filled with radical breakthroughs and world-changing surprises.
The future is faster than one thinks
Technology has been upgraded far more quickly than anyone could have imagined. Through converging technologies, every major industry is about to be completely reimagined. The impact of these technologies—underlined by their capabilities—will address unmet needs, create new solutions, and drive unlikely players from diverse industries to work with each other. For entrepreneurs, innovators, leaders, and anyone sufficiently enthusiast, the opportunities will be incredible. Some of the converging tech scenarios can be seen in the fields such as; Advanced Foods, Robotic Farming, Manufacturing X.0, Gen-Z Packaging, and many more. Converging technologies in these fields can forecast the future as follows:
Advanced Foods: Technology over the years has changed how to produce and find foods. Key driving factors encouraging the development of advanced foods can bring massive changes ahead. Improved food security and enhanced food quality are the need of the hour. Converging technologies aim to help improve the efficiency of food with increased sustainability. The use of machines in the food industry ensures quality and affordability. For instance, in the European food industry, the number of robots per 10,000 employees raised from 62 in 2013 to 84 in 2017.
Robotic Farming: Robots are expected to be installed at farms to transform the agriculture industry. Through leveraging a converged ecosystem of advanced technologies in agriculture, it can improve the costs, yields, and value of farm produce. By quantifying agriculture, technology convergence will help overcome traditional farming challenges and provide new growth opportunities. Farmers turning to technology (agricultural robots or agribots) is seen as one of the key trends that will deeply influence agriculture in the coming years. A study suggests the permanent robotic fixture on many farms is expected to reach $12.8 billion market value by 2022.
Manufacturing X.0: Industry 4.0 is the digitization of the manufacturing sector. The convergence of operational technologies and informational technologies that spells industry 4.0 is the key industry initiatives supporting the development of Manufacturing X.0. Artificial intelligence and hybrid blockchain technology are the main models of manufacturing X.0. Together they are called the ‘New Internet,’ which includes smart energy management, track-and-trace, and remote monitoring of products.
Gen-Z Packaging: Gen Z values sustainability. Gen Z packaging is an advanced packaging solution for real-time tracking with maintained authenticity. It cares deeply about the environment and the brand and expects others to do the same. For example, in 2010, Puma was the eco-OG when they eliminated the shoebox and introduced the reusable “Clever Little Bag.” As of 2018, Gen Zs have approximately contributed about $143 billion in total spending power.
Predicting the future
During the next decade, industries will experience more upheaval and create more wealth than they have in the past years. In this gripping and insightful roadmap to the near future, many leaders, entrepreneurs, and courageous individuals will find how wave after wave of exponentially accelerating technologies impact both, their daily lives and society as a whole. But what happens as AI, robotics, virtual reality, and sensors crash into 3D printing, blockchain, global gigabit networks? How will these convergences transform today’s legacy industries? What will happen to the way people raise their kids, govern their nations, and care for the planet?
The science of technological convergence will reinvent every aspect of human lives, taking humanity into uncharted territories and reimagining the world as they know it. Being able to see around the corner of tomorrow and being agile enough to adapt to what’s coming, has never been more important, such as:
- Convergence will explore breaking technologies that are currently on exponential growth curves, examining where they are today and where they’re going. Quantum computing, artificial intelligence, networks, robotics, virtual and augmented reality, 3-D printing, blockchain, materials science and nanotechnology, and biotechnology are some breakthroughs.
- The technologies will focus on key industries like shopping, advertising, entertainment, education, healthcare, longevity, business, and food to show how they are reshaping the world.
- The converging technologies will take the bigger picture, looking at a series of environment, economic, and existential risks that threaten the progress people are about to make. The advancements then expand their view from what’s in store in the next decade to the full century, focusing on five great migrations—economic relocations, climate-change upheavals, virtual worlds explorations, outer space colonization, and hive-mind collaborations—to show how they will serve as powerful innovation accelerants and how technology can help solve the world’s biggest problems.
Conclusion: Humans have been trying to bargain existential risks. They are basically trying to make sure that society will not kill itself accidentally with technology. Converging technologies outline a compelling future for humanity. They set a clear vision of the transformation of every major industry. They aim to transform every industry this decade. Every entrepreneur and leader must understand the transformation and opportunities to plan and prepare as they offer this decade a hopeful and powerful vision of the future.
