Emerging technologies have some unique traits that make them different from the technologies we already know. Let’s break them down:
New Ideas: Emerging technologies often bring new and creative ideas that people aren’t using just yet. For example, while we’re familiar with artificial intelligence (AI), some new ideas like quantum computing are still developing. Experts believe that this could grow into a huge market worth $65 billion by 2030.
Quick Growth: These technologies change and grow very fast. A report from the McKinsey Global Institute shows that it now takes less time for new technologies to start being used in the market. In fact, it has gotten over 25% faster in the last ten years!
Uncertainty and Risk: With emerging technologies, it’s hard to tell how successful they will be or if people will accept them. For example, only 28% of blockchain projects were successful and fully developed by 2022, according to Consensys.
Impact on Society: Many new technologies aim to solve big problems in our world, especially around environmental issues and energy use. Take renewable energy, for example. In 2021, people invested more than $500 billion worldwide in clean energy technologies to help fight climate change.
Mix of Fields: Emerging technologies usually mix different areas of study, such as biotechnology and information technology. This blend can lead to exciting new ideas but also makes it harder to create rules and regulations. A good example of this is CRISPR, a technology used for editing genes.
In short, emerging technologies stand out because they are new and creative, they grow quickly, there’s a lot of uncertainty around them, they address important social issues, and they mix different areas of study. This is what makes them different from older, more established technologies that are easier to predict and understand.
Emerging technologies have some unique traits that make them different from the technologies we already know. Let’s break them down:
New Ideas: Emerging technologies often bring new and creative ideas that people aren’t using just yet. For example, while we’re familiar with artificial intelligence (AI), some new ideas like quantum computing are still developing. Experts believe that this could grow into a huge market worth $65 billion by 2030.
Quick Growth: These technologies change and grow very fast. A report from the McKinsey Global Institute shows that it now takes less time for new technologies to start being used in the market. In fact, it has gotten over 25% faster in the last ten years!
Uncertainty and Risk: With emerging technologies, it’s hard to tell how successful they will be or if people will accept them. For example, only 28% of blockchain projects were successful and fully developed by 2022, according to Consensys.
Impact on Society: Many new technologies aim to solve big problems in our world, especially around environmental issues and energy use. Take renewable energy, for example. In 2021, people invested more than $500 billion worldwide in clean energy technologies to help fight climate change.
Mix of Fields: Emerging technologies usually mix different areas of study, such as biotechnology and information technology. This blend can lead to exciting new ideas but also makes it harder to create rules and regulations. A good example of this is CRISPR, a technology used for editing genes.
In short, emerging technologies stand out because they are new and creative, they grow quickly, there’s a lot of uncertainty around them, they address important social issues, and they mix different areas of study. This is what makes them different from older, more established technologies that are easier to predict and understand.