Emerging Technologies: How they will Shape the Future?

Divit Gupta

Principal Architect, Oracle

Technology is a constant force of change, altering the landscape of our lifestyles, professional endeavors, and recreational activities. It reshapes the foundations of businesses and industries, presenting innovative solutions to tackle intricate global and societal issues.

In a period defined by the influence of technology on global power dynamics, the United States has taken a resolute step. Emerging technologies such as artificial intelligence, quantum computing, and biotechnology are not merely instruments of advancement; they represent the latest arenas for national supremacy. In response to this environment, the U.S. Department of Energy has created the Office of Critical and Emerging Technology, strategically positioned to leverage and advance these technologies to bolster national security and economic leadership.

The domain of pivotal technologies is one where the stakes are exceptionally high. Within the echelons of influence, artificial intelligence, quantum computing, and biotechnology transcend mere buzzwords—they serve as the keys to unparalleled intelligence capabilities, advanced military defenses, and economic dominance.

Organizations contemplating the adoption of a specific technology generally rely on the viability of the business case to make informed decisions. Evaluating this is uncomplicated when the technology aims to enhance current equipment, automate manual processes, or when it has proven benefits through implementation in other organizations. However, quantifying the value of emerging technologies that haven’t gained widespread usage poses a more challenging task.

The Top 10 Emerging Technologies of 2023 report, published by the World Economic Forum, provides a comprehensive overview of the most impactful and transformative technologies expected to shape the future. The report is a result of a rigorous methodology that involved surveying a diverse group of experts, including academics, industry leaders, and futurists, to identify and assess the potential impact of emerging technologies. The technologies featured in the report are evaluated based on their potential to positively impact people, the planet, prosperity, industry, and equity.

The report highlights the top 10 emerging technologies of 2023, including flexible batteries, generative artificial intelligence, sustainable aviation fuel, designer phages, metaverse for mental health, wearable plant sensors, spatial omics, flexible neural electronics, sustainable computing, and AI-facilitated healthcare. These technologies are expected to have a significant impact on people, equity, planet, prosperity, and industry.

In conclusion, the Top 10 Emerging Technologies of 2023 report offers a comprehensive and forward-looking perspective on the technologies that are poised to drive significant societal and economic changes in the next three to five years.