Technological advances are often behind some of the most critical changes in society technological innovations. Just look at how the Internet has changed almost everything about our lives today. When we think about these significant changes, we often ask: what modern technologies will dominate how we and our descendants live tomorrow?
While technology never develops in an entirely foreseeable way, we can make some attractive, reasonable guesses about the technology that will likely be ubiquitous in 10 years. By 2030, these six major technological innovations will be a significant part of most people’s lives and will bring with them all the cultural and economic implications of ubiquity.
5G Technological Innovations
5G technology is more than just super-fast media downloads and antenna arrays in electrical boxes. Once this super-fast data technology becomes widely obtainable, its downstream effects will likely create a cascade of innovations in other technologies that will reshape our economic and cultural landscape technological innovations.
Smart devices could become more thoughtful and faster when 5G technology arrives. From self-driving cars to virtual reality plans, our most advanced technologies require massive data processing that only 5G can provide. As 5G technology becomes the norm in cities worldwide, we’ll likely see corresponding growth in these advanced areas of IoT technology as data transmission technologies finally become marketable and scalable.
Telehealth
During the pandemic, telehealth companies had a golden opportunity to show people that virtual doctor visits could work. Overall, they seem to have passed the test. One study found that 88 per cent of Americans would still want access to telehealth even after the pandemic technological innovations.
The battle is on for telehealth providers to become a permanent part of the healthcare market. In the first quarter of 2021 alone, telehealth companies closed $4.2 billion in deals. Artificial intelligence will also likely be a key factor in telehealth in the 2020s as healthcare providers increasingly seek tools to analyze patient data.
However, bridging the digital divide will be a significant challenge for telehealth. Millions of Americans without reliable high-speed Internet at home will continue to struggle to access telehealth services, a cruel irony since many of these people could benefit most from easily accessible healthcare.
Cryptocurrency
Ten years ago, Bitcoin was a fringe technology used almost exclusively by tech professionals and the black market. Today, retail investors and Wall Street buy and sell hundreds of dissimilar cryptocurrencies on public exchanges, and significant economic media outlets cover the peaks and valleys of various currencies just as they do with stocks and traditional bonds technological innovations.
There is a “legitimate” cryptocurrency market, such as Coinbase, the first cryptocurrency conversation to go public on NASDAQ. The “meme” crypto market sends cryptocurrency values into the stratosphere, but it can also crash them with one ill-timed tweet from the wrong celebrity. This Wild West sensibility will likely lead to increased regulation of cryptocurrency in the coming decade.
Governments worldwide are scrambling to find a way to regulate this new market to squeeze out bad actors without stifling innovation. The structure of these regulations will play a significant role in what cryptocurrency will look like in the 2030s, so crypto traders have no choice but to wait and buckle up.
Along with many cryptocurrencies, a new digital creative thing called NFT is gaining a lot of popularity among creators and artists. NFTs are only digital representations of artwork or innovative ideas on the blockchain. Many individual artists have started converting their works into NFT formats and listing them for sale on the open market, where anybody can buy them anywhere. Check out these top Malaysian NFT artists who have published their work and made a good profit from it.
Renewable Energy
As the new decade dawns, renewable energy accounts for 12% of US energy consumption and 20% of US electricity generation. With the Biden administration gearing up for a significant push into renewable energy projects, the 2020s are the best years yet, the first actual decade of the renewable energy era.
2021 alone is already packed with big, exciting renewable energy projects, like Oklahoma’s 999-megawatt Traverse Wind Energy Center technological innovations. Many big projects involve utilities like Duke Energy, indicating the level of consensus in the industry about the growing push for renewable energy. Tomorrow Energy powers homes with 100% clean wind power in North America and plans to use natural gas that includes 100% carbon offsets.
The upshot: Some experts estimate that global investment in renewable energy will reach $3.4 trillion by 2030. The US and Europe aren’t the only ones making significant investments. China is leading the way in solar power technology, and India is quickly catching up. The good news is that everyone wins. Strong demand and competition in the renewable energy market means more investment, green technology, and less pollution.
Electric Cars and Hybrids
And what about this sign of the times? Lamborghini recently proclaimed its intention to spend $1.8 billion to develop the iconic automaker’s first electric vehicle by 2030 technological innovations. Of course, the world isn’t just talking about Lambos and Teslas. The International Energy Agency predicts that the world will have 145 million all-electric cars by the end of the decade.
Looking ahead to 2021, the range of all-electric models on the market is already impressive. You can choose a compact, serious car like the Chevy Bolt or live the luxury life with an Audi e-tron or Porsche Taycan. And that’s not even counting hybrids, which are more popular than ever and are only getting more popular.
However, the limitations of the EV infrastructure will play an important role in determining how popular these vehicles become. Currently, most electric cars range from 200 to 250 miles, meaning a round trip will require adequate charging stations. Companies have started to build out truck capacity, but they will move much faster if they can get support from President Biden’s proposed infrastructure bill.
Smart Homes
Smart home technology has been advancing steadily for several years now. Where once a family home might have had a single thermostat in a NEMA 12 box, that same box can now house a digital thermostat, lighting controls, security systems, and more. The Internet of Things has put this power in homeowners’ hands, and the connected home’s capabilities will only grow throughout the 2020s.
However, device makers will have to address connectivity and security issues for smart homes to have a positive impact. People trust these devices to access their homes and personal information. This means standards must be harmonized, and security must be improved across the board so people can use their smart home plans safely and effectively technological innovations.