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New technology is emerging every day to make life simpler, more advanced and better for everyone. The rate at which technological advancement is taking place is almost exponential today. For business organisations, new technology helps to reduce costs, enhance customer experiences and increase profits.
According to Statista, nearly 50 billion devices will have internet connectivity by 2030. With the COVID-19 pandemic boosting businesses’ digital transformation journey, this goal is closer than anticipated. The familiarity with the latest IT technologies hold the key to advancing your career and exploring new opportunities.
So, what does that exactly mean to you? It means getting all the relevant skills that can help you to secure a job in future with attractive salary packages. Keeping this in mind, we have curated a list of top new emerging technology trends that will witness prominent growth in the near future.
New Technology Trends 2023 :
- Artificial Intelligence (AI) and Machine Learning (ML)
- Robotic Process Automation (RPA)
- Edge Computing
- Quantum Computing
- Virtual Reality (VR) and Augmented Reality (AR)
- Blockchain
- Internet of Things (IoT)
- 5G
- Cybersecurity
- Full Stack Development
- Computing Power
- Datafication
- Digital Trust
- Internet of Behaviours
- Predictive analytics
- DevOps
- 3D Printing
- AI-as-a-Service
- Genomics
Now, Let's discuss the top New technology trends in detail :-
1. Artificial Intelligence (AI) and Machine Learning (ML)
Artificial Intelligence, also known as AI, started gaining popularity a decade ago. It has still not slowed down and continues to be one of the leading emerging technologies in 2023. AI is constantly evolving, and newer applications for this emerging technology continue to spring upon the scene. Today’s most popular AI applications are image and speech recognition, navigation programs, voice assistants like Siri and Alexa, and much more.
Organisations are looking to use AI to analyse customer and business interactions to derive insights and identify triggers. It will help them predict the demand for services such as hospitals or tourism and aid in the improvement of resource allocation for various projects.
Machine Learning (ML) is a part of AI and uses supervised learning to learn new functions. It has seen a massive surge in demand for skilled professionals, making it an attractive trend to watch. According to Forrester, AI and Machine Learning will be responsible for 9% of all new jobs in the US by 2025.
Here are some popular job options in AI/ML and their respective salaries as per data collected from various authentic sources:
- Chatbot Developer: $70,000 - $90,000 per year
- Data Analyst: $75,000 - $85,000 per year
- Image Processing Engineer: $85,000 - $95,000 per year
- Business Intelligence Analyst: $90,000 - $100,000 per year
- Recommender Systems Developer: $95,000 - $105,000 per year
- AI Consultant: $100,000 - $120,000 per year
- AI Product Manager: $110,000 - $130,000 per year
- Data Engineer: $115,000 - $135,000 per year
- Deep Learning Engineer: $120,000 - $140,000 per year
- Computer Scientist: $120,000 - $150,000 per year
Note that these salary ranges can vary depending on factors such as location, years of experience, industry, and company size. These are just rough estimates to give you an idea of the average salaries for these job roles.
2. Robotic Process Automation (RPA)
Robotic Process Automation (RPA) uses multiple software and applications to automate business processes such as data collection and analysis, customer service and other repetitive tasks managed previously through manual processes.
Like AI and Machine Learning, RPA is a rapidly advancing future technology that automates many jobs across different industries. McKinsey has analysed that fewer than 5% of jobs today can be entirely automated, but nearly 60% can be automated at least partially.
RPA offers several new career options and trajectories such as a programmer, project manager, business analyst or consultant. It also opens doors to high-paying jobs with a moderate learning curve in leading organisations. Choosing this emerging technology as a career move can profit you immensely.
Here are some popular job options in RPA and their respective salaries as per data collected from various authentic sources:
- RPA Tester: $60,000 - $85,000
- RPA Support Engineer: $70,000 - $90,000
- RPA Trainer: $75,000 - $110,000
- RPA Consultant: $80,000 - $120,000
- RPA Business Analyst: $85,000 - $120,000
- RPA Developer: $90,000 - $130,000
- RPA Solution Designer: $100,000 - $150,000
- RPA Project Manager: $110,000 - $150,000
- RPA Architect: $120,000 - $180,000
- RPA Operations Manager: $130,000 - $200,000
3. Edge Computing
Today, millions of data points are collecting user information from various sources such as social media, websites, emails, and web searches. As the amount of data collected increases exponentially, other modern technologies like cloud computing fall short in several situations.
Till a decade back, Cloud Computing was one of the fastest-growing technologies. However, it has become fairly mainstream, with the market dominated by major players such as Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform.
As more organisations adopted Cloud Computing, they found several limitations in the technology. Edge Computing helps to bypass the latency that Cloud Computing causes and helps organisations to get data into a data centre for processing. It can exist ‘on edge’, in the sense that it is closer to where the data processing will ultimately take place. Edge Computing is used to process time-sensitive data in far-off locations with limited or no connectivity.
Here are some top job options in this new technology with their respective salaries:
- Edge Computing Analyst - $85,000 per year
- Edge Computing Systems Administrator - $95,000 per year
- Edge Computing Developer - $105,000 per year
- Edge Computing Engineer - $115,000 per year
- Edge Computing Consultant - $125,000 per year
- Edge Computing Project Manager - $130,000 per year
- Edge Computing Security Specialist - $135,000 per year
- Edge Computing Solution Architect - $145,000 per year
- Edge Computing Operations Manager - $150,000 per year
Note that these salary ranges can vary depending on factors such as location, years of experience, industry, and company size. These are just rough estimates to give you an idea of the average salaries for these job roles.
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4. Quantum Computing
Quantum Computing is a type of computing that focuses on developing computer technology based on the principles of quantum theory. This theory explains the behaviour of energy and materials on atomic and subatomic levels. In other words, it performs calculations based on the probability of an object’s state before measurement instead of just 0’s and 1’s.
Quantum Computing can easily query, analyse and take action based on given data, regardless of the source. It played a major role in preventing COVID-19 and developing new vaccines. These computers are exponentially faster than normal computers. The revenue for the Quantum Computing market is projected to cross $2.5 billion by 2029.
You need experience with quantum mechanics, linear algebra, machine learning, and information theory to enter this field.
Here are some popular job options in quantum computing and their respective salaries:
- Quantum Systems Administrator - $85,000 - $110,000 per year
- Quantum Computing Engineer - $90,000 - $115,000 per year
- Quantum Software Developer - $100,000 - $120,000 per year
- Quantum Hardware Engineer - $110,000 - $130,000 per year
- Quantum Applications Developer - $120,000 - $140,000 per year
- Quantum Algorithm Researcher - $130,000 - $150,000 per year
- Quantum Computing Architect - $140,000 - $160,000 per year
- Quantum Cryptography Specialist - $150,000 - $170,000 per year
- Quantum Computing Scientist - $160,000 - $180,000 per year
- Quantum Information Theorist - $170,000 - $200,000 per year
5. Virtual Reality (VR) and Augmented Reality (AR)
VR and AR have been popular for almost a decade now. Virtual Reality immerses the user into a new environment, while Augmented Reality enhances the user’s existing environment. While their applications so far have been majorly linked with gaming and filters on social media, simulation software such as Virtual Ship is also used to train the US Navy, Army and Coast Guard ship captains.
By 2024, AR and VR are expected to integrate into our everyday lives much more deeply than today. They have huge potential and possible applications in training, entertainment, education, marketing and therapy or post-injury rehabilitation. It is also widely used by advertisers and brands to create new immersive experiences for their customers.
Starting a career in VR or AR doesn’t require too much specialisation. Basic programming skills and a forward-thinking mindset coupled with optics as a skill set can help you easily secure a job in this field.
Here are some top job options in this latest technology with respective salaries:
- VR Artist - $55,000 - $80,000 per year
- VR Animator - $60,000 - $85,000 per year
- VR Sound Designer - $65,000 - $90,000 per year
- VR UX Designer - $70,000 - $95,000 per year
- VR UI Designer - $75,000 - $100,000 per year
- VR Developer - $80,000 - $110,000 per year
- VR Designer - $85,000 - $115,000 per year
- VR Engineer - $90,000 - $120,000 per year
- VR Project Manager - $100,000 - $130,000 per year
- VR Marketing Manager - $110,000 - $140,000 per year
6. Blockchain
Blockchain was popularised in the context of cryptocurrency and Bitcoin and the security it provides. However, it offers security that can be useful in several other ways as well. Blockchain can be defined as data that you can only add to, not take away or alter. It results in many sections of data which form a ‘chain’, hence the name Blockchain.
The fact that existing data cannot be altered or removed makes Blockchain a highly secure technology. Blockchains are consensus-driven, which means no single person or organisation can take control of the data. There is no need for a third party to oversee transactions.
As more industries adopt and implement blockchains, the demand for skilled blockchain developers has also increased. It requires the hands-on experience of programming languages, basic knowledge of OOPS, flat and relational databases, data structures, networking and web application development.
Here are some current job options in this latest technology and their respective salaries:
- Blockchain Technical Writer - $65,000 - $85,000 per year
- Blockchain Marketing Manager - $75,000 - $100,000 per year
- Blockchain Quality Assurance Engineer - $80,000 - $105,000 per year
- Blockchain Business Analyst - $85,000 - $110,000 per year
- Blockchain Security Specialist - $90,000 - $115,000 per year
- Blockchain Consultant - $95,000 - $120,000 per year
- Blockchain Project Manager - $100,000 - $125,000 per year
- Blockchain Engineer - $105,000 - $130,000 per year
- Blockchain Developer - $110,000 - $140,000 per year
- Blockchain Architect - $120,000 - $150,000 per year