What Innovation Means In 2022
11 June 2022
3 Mins Read
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Technology changes so rapidly that every year brings new trends and evolutions of previous innovations. It’s not just new advances in tech that bring about change, but new ideas about how to apply those technologies to business.
In 2022, these are the technologies and their applications that are driving innovation in business and disrupting markets with a new way of doing things.
1. Consumer-Centric Platforms
Digital marketplaces aren’t a new technology. The most notable is probably Uber, a company that has been around since 2009 and can be found in roughly 85 countries around the world.
But the digital marketplace is transforming new industries, and as other startups scale and expand, it’s a model that’s going to be increasingly common and change more diverse industries.
Nobul is a great example of an open digital marketplace shaking up an industry that hadn’t expected to go through such a major transformation. Nobul is the world’s first and only digital marketplace where real estate agents compete with each other for homebuyers and listings.
According to industry thought leader and Nobul founder Regan McGee, the platform has “massively simplified the process.”
He adds that even though people think that the process of selling and buying real estate is an extremely complicated one, in reality, it is not so. Instead, the agents deliberately complicate and portrayed it as such in order to justify their fees.
2. Blockchain Developments
There’s far more to blockchain technology than cryptocurrency. The technology behind cryptocurrency is expanding into a wide range of enterprise uses.
Companies spent over $6 billion in blockchain investments in 2021, and investment will likely continue to ramp up this year and in the future.
Blockchain is reducing business conflicts and improving security, transparency, and certainty in transactions. As companies hunt for greater efficiencies, blockchain offers promising opportunities.
3. Big Data Analytics and AI
AI technology is increasingly opening up opportunities to make use of big data. There’s more information available than ever before, so much so that AI support is required to interpret and make sense of it.
Big data analytics are being used to improve personalized results, recommendations, trend forecasts, modeling, and so much more.
Cloud computing is another aspect of tech growth. Increasingly platforms are cloud-native as they allow companies to build application architecture that’s more resilient and agile.
4. Renewable Energy and Battery Storage
Throughout the pandemic, renewable energy was the only part of the energy sector to experience growth. As governments and private industry continue to invest in renewables, expect it to continue to bring innovation to technology and business alike.
There are already efforts to convert blockchain to renewable energy, among other industries, as companies look to rehabilitate their images in the face of an escalating climate crisis.
As renewable energy production accelerates, you can also expect new advances in battery technologies required to store excess energy and make renewable supplies more efficient and dependable.
5. Virtual Reality
One of the best technological trends that have made it possible for the people of the world to live in the future is the existence of Virtual Reality or VR. It is the creation of an environment that is artificial.
Virtual Reality or VR is created with the help of software. This virtual reality is presented to users in a way that makes them think of it as real.
Many companies have started using VR in their businesses. It helps the employees attract more clients by immersing them in the software’s reality created by the software. In this way, they can also interact with the product much more efficiently.
Innovation in 2022 is based on new digital marketplaces, big analytics, artificial intelligence, blockchain, and renewable energy.
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