In recent years the world has undergone a tremendous technological revolution. New cutting-edge technology more advanced than anything seen before has become the norm. In 2022 here are the new tech trends that have come up and are shaping the future.
Cryptocurrencies
Cryptocurrencies are virtual currencies that exist digitally and can be used to undertake transactions. The use of cryptocurrencies has significantly boomed in the recent past, changing the game in the betting industry. Betting apps have recently started embracing Bitcoin sports betting, with many sportsbooks allowing players to use the currency to stake. PowerPlay, one of the frontrunners for the best sports betting apps, is one of the bookmakers that have ventured into betting with cryptos.
Other than betting, cryptocurrency serves numerous transaction purposes. Recently, travel agencies such as Cheapair are accepting bitcoin as remittance for car rentals and accommodation. Most people have also taken to cryptocurrency as a store of wealth because authorities cannot freeze funds. In banks, however, personal accounts and assets are at risk of being frozen if one is found to have committed misconduct.
NFTs
Non-fungible Tokens (NFTs) seem to be the talk of the town nowadays. NFTs are cryptographic assets with a unique data unit that can be connected to digital or physical objects to provide proof of ownership. NFTs have had a remarkable impact on the modern world, similar to social media apps such as Facebook back in the day. In the metaverse, for instance, NFTs have enabled companies to sell virtual merchandise. Giant clothes and footwear company NIKE has recently delved into NFTs by availing virtual sneakers to clients. This move earned the company $3.1 million in just seven minutes after selling six hundred virtual sneakers.
The gaming industry has also been caught up in the NFT craze. NFT gaming has led to the development of play-to-earn games such as Axie Infinity, where players are awarded NFT assets upon completing tasks. The music industry is no slouch when it comes to the NFT streak as artists have started selling their music as NFTs to earn some extra cash. Famous rapper Meek Mill, an NFT-enthusiast, announced that he would release an NFT mixtape in 2022.
5G Internet Connection
5G is the successor of previous network types 4G and 3G. Whereas the two predecessors have enabled us to browse the net, stream videos and make quick downloads, 5G is speculated to change the game completely, as its bandwidths offer more bits per second than any other network type seen before. 5G ellipses its predecessor 4G’s speed 20-fold and can allow many users to connect to one tower avoiding congestion during mass gatherings.
5G is already being used in car manufacturing, with manufacturers such as BMW and FORD blending the 5G antenna into their latest models. This development will enable communication with other vehicles and objects on the road. Telecom companies such as Apple and Verizon are on the prowl to develop 5G applications.
Extended Reality
Extended Reality, also known as XR, is a term that sums up Virtual Reality (VR), Mixed Reality (MR), and Augmented Reality (AR). Extended Reality has been growing astoundingly, and XR tech’s application is evident in the education sector. Learners have understood concepts better through VR since they can visualise them. Rather than staring at some boring old textbooks for hours, learners can now dive deep into realistic simulations of history or geography and see the lessons unfold right before their eyes.
VR has done so much more than spicing up education. Thanks to Virtual Reality, companies can now hold conferences and monitor online. Employers can now have employees choose avatars, customise them to their liking and then set up a virtual meeting space, say a desk with the avatars representing the speakers.
Artificial Intelligence
Artificial Intelligence (AI) is probably the crowning achievement of modern technology. AI has a myriad of applications ranging from healthcare to Cybersecurity. AI has made the augmented workforce a reality, once a figment of science fiction. Workplaces now employ machines with cognitive capabilities to aid in their running. Companies also use generative AI, which generates audio, texts and images as chatbots to tackle customer queries.
The World Economic Forum identified cybercrime as a major hindrance to development, prompting nations to work harder to eliminate it. AI-based Cybersecurity has tackled this by detecting suspicious activity by analysing network traffic patterns.
Considering the recent exponential growth in technology that we use in our day to day life, we can only expect more as we push forward with the year.