Introduction
Information technology is currently one of the most important industries attracting countless entrepreneurs, employees, and investors into the field. From your smartphones to reusable rockets and weather prediction software, information technology is playing a critical role as a foundational block. With the massive investments, opportunities, and scope in the industry, it is natural to question what will be the future of information technology. This question can be answered according to the foundational blocks of the industry itself. Specifically, IT employees, industry opportunities, investment patterns, IT applications, and the availability of components are some of the areas that need to be considered. Geopolitics, climate change, government policies, international disputes, and consumer behaviour all play a larger role than the industry and its achievements more than the industry itself!
So let's explore this interconnectivity and a few possible futuristic ideas as well. However, one can always be wrong or right based on the circumstances. Hence, never take these as a formula for the future.
1. Workforce and Job opportunities
The information technology industry has a lot of potential to grow and so many opportunities to focus on. Hence, it will be included in most, if not all, sectors in the future. Upcoming technologies like artificial intelligence, blockchain, big data, virtual reality, 3D printing, edtech, medtech, and fintech are all glimpses of a bright future for the information technology industry. Every one of these industries has the potential to revolutionise the industry and its applications. As we can see already happening, crypto has become a mainstream currency thanks to blockchain technology. 5G and IoT together are building smart homes and planning smart cities. These industries have grown 104% between 2018-2023 (Source: Statista). These are merely a few examples of the potential of the industry.
The good news is that all these technologies need highly-qualified, highly experienced, and trained professionals. While AI looks like an alternative to filling in the massive gap in such a trained workforce, only time will tell which one precedes which one. Moreover, if AI becomes sophisticated enough to bridge the shortage of employees or the other way around, it is subject to a massive backlash from the general public if it gets to a point where it can be self-taught, self-controlled, and start to think. The first one, i.e., self-taught, is already being implemented through machine learning, and the other two are expected to happen in the near future.
All in all, the growth potential of the industry is massive as it gets further into the lives of people. As a result, the job market is also expected to cross the 60 million benchmark within a couple of years (Source: Statista). The future IT workforce will be highly diverse as the skill sets will be spread over several sub-sectors like ML and AI, data science, IoT, e-commerce, web development, cyber security, etc. As all these require a different combination of expertise, the workforce will be further decentralised within the industry. Job opportunities will rise and fall according to the demand and economy of the world.
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2. The Emergence of Open Source
One of the most important aspects of the technological revolution is the rise of open-source software and hardware. Unlike other business-oriented companies, these are created and maintained by selfless programmers from all around the globe. Anyone with enough expertise can contribute to these projects and make the world a better place. Open-source platforms like Android have revolutionised the smartphone industry like no other. The Linux operating system has been the favourite of advanced computer users more than Windows itself. The interesting fact here is that even Apple's Mac OS was built upon a Unix-like framework (Source: Free Code Camp). Even our GPS systems that we use every day are an open-source framework that was given up to public use by American defence forces (Source: Aerospace)! If we dig deeper, we can find that open source has been the keystone in the technological revolution.
While these are some of the incredible idea's past achievements, the future is even brighter nonetheless. Already, there is a growing community of expert contributors in the open-source software and hardware sector. With knowledge free and open to everyone as their mantra, these individuals are building the future of IT like no other research and development department of any IT company. Blockchain technologies like Bitcoin are a completely open-source framework (Source: Bitcoin).
The problem with open-source software, however, is that it is usually ahead of its time. It makes it difficult for them to be adopted by the general public. Despite a growing number of early technology adopters, the majority of users are either hesitant or unaware of the concept of open source. Hopefully, that might change in the future.
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3. Coding as a necessity
Coding is a very handy skill for anyone working on a machine! Coding will be a necessity as generations and generations of people get used to it as a necessity. Coding is an optional subject in schools in several countries (Source: The Conversation). As a result, younger talents get more opportunities and time to master the art of coding. Already, enthusiasts are taking up coding as early as five years of age! Many schools in Israel offer coding classes for children. This trend will grow into the future when it will become a necessary skill for learners even at younger ages.
Even in the workforce, coding had its advantages. According to Hour of Code, there are nearly 700,000 open computing jobs in the US, but only 80,000 computer science students graduated into the workforce last year. This is the situation in most developed countries. Hence, there is a large pool of opportunities in the programming workforce. This is why many professionals are taking up programming classes to enter the IT industry. In a future world, where machines and computers will become the basic working elements, it will be a skill both essential and advantageous to have.
4. Semiconductors
Semiconductors are critical elements of the information technology industry. Without these engineering marvels, the industry would be reduced to nothing. These are the basic building blocks of the industry, which is why the semiconductor industry is one of the world's top-grossing industries. The concerning part here is that the semiconductor industry is exclusively controlled by a select few companies located mostly in Taiwan, the USA, Germany, South Korea, etc.
While several countries have plans to enter into the industry, the plans will take years or decades to catch up with the present outputs of established companies. Even then, the opportunities in the IT industry can be higher than at present levels because the need for semiconductors is only going to rise with time. According to a research paper by Kamal Y on Jestr, the semiconductors industry is projected to reach $ 726.73 billion by 2027. Moreover, supply chain distortions due to climate change are expected to interrupt the industry in future (Source: Julian Kamasa, Center for Strategic and International Studies). This might give the newly entered countries and their IT workforce a chance to thrive in the future.
5. SaaS industry
With $170 billion worth in 2022 and a 500% increase in size in the previous seven years, the Software as a Service industry makes up a large portion of the IT industry (Source: Gartner). While heavily industrialised countries like the USA, Europe, China, and Russia have been able to leverage goods manufacturing to stabilise their economies, new and upcoming economies in Asia and Africa are more inclined towards the services sector with a consistent streak of start-ups, a skilled workforce, and government initiatives to support them. Once again, the oncoming technologies like 5G, IoT, remote work, and changing work patterns will have immense effects on the SaaS industry. Because of remote work, the countries with the best-qualified workforces will be in high demand around the world.
The world is eagerly looking for new talents to solve its SaaS industry's problems. SaaS solutions are eagerly implemented by companies and individuals alike, which has increased the investment of numerous SaaS start-ups. With their innovation, problem-solving, and entrepreneurial skills, SaaS companies will continue to dominate the services sector in the future. From marketing to research, these firms can become advanced enough to tackle the needs of corporate companies and individual customers.
6. Dependency on IT
The future humanity might be more dependent on technology than what is necessary. While the increased dependency on IT can lead to flexible remote working, cost-effectiveness, automation of boring and repetitive tasks, high productivity, and less room for error, there are several disadvantages as well. Indeed, there are already campaigns on social media urging individuals to detach from technology and live minimal lives (Sources: GabbyAbigaill, Free Period Press). There are even digital detoxification challenges on social media, which are frequently taken by individuals to boost their emotional and physical health. Social media itself has become a form of addiction for most of its users. The same could be a problem in the future as remote work gains traction. Excessive use and recourse to technology might create a new set of problems (Source: Micro Health). These can get in the way of productivity and diminish the quality of work.
7. Recommendation software
Due to the explosion of big data and the widespread use of technology and handheld devices, internet sites are faced with massive data traffic. In the modern web interface, personalization is the key to winning hearts and capturing the market. The result of both these points is the inception of recommendation software. Most popular social media platforms, e-commerce websites, news sites, and search engines are already developing, prototyping, and using their own data management and recommendation systems in their interfaces. Even other websites are slowly catching up with the trend of hyper-personalization. This has improved the technology and user experience by making it easy and intuitive.
Even upcoming technologies like artificial intelligence and machine learning are employed in these systems. The problem, however, is that these systems feed the confirmation bias of individuals with only relevant and related information according to their tastes. While this is a great feature for e-commerce and shopping websites, sensitive internet sites must not employ these strategies. For example, social media is a powerhouse for sharing user opinions on popular subjects like politics, policies, and internal relations. Often, contrasting views must have equal exposure to a fresh mind to grasp the advantages and disadvantages of any particular subject. These contrasting views induce the critical thinking of an individual, enhance empathy, and help the individual make the right decision (Source: Towards Datascience).
However, recommendation systems can strip this process and provide the individual with only one side of the story. This can impair your decision-making process as you are often not in touch with the other side of the story and lack the empathy to approach a subject from the other side. In decision-making, confirmation bias can be notoriously dangerous, at least in the conventional press and on social media platforms. Only the IT industry leaders with sufficient responsibility can perceive the dangers of this technology, and its ability to polarise the masses and create solutions that fight confirmation bias.
8. AI applications in the military
The curse of knowledge is that it is always a double-edged sword. As much as technology can help humanity, it can also cause havoc. Just like nuclear power, information technology can also be used offensively to attack and haunt others. Artificial intelligence systems are already guiding missiles, bombs, and rockets to launch attacks. Robotic military applications are endlessly being researched by militaries and defence industries (Source: Mind Matters AI). Already, AI-powered drone operations against military targets are gaining traction along sensitive borders (Columbia Law School). Israel has developed the first-of-its-kind laser weapon to counter such threats. The USA is developing autonomous rotorcraft sniper systems. These are more concerning than nuclear weapons, as the arms race in this direction could be the last one for humanity. Another cold war in the AI-powered weapons sector can lead to a scary future for all.
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Conclusion
Finally, the future of the information technology industry is bright. There won't be any lack of opportunities for the workforce just because technology has invaded several repetitive jobs. Instead, employees will be working with technology more than ever in the future. Due to the contributions of a large IT sector, open source, and a skilled workforce, humanity will be more productive and advanced. Information technology will form the backbone of most other industries with its unparalleled applications Coding will become a critical skill, and the semiconductor industry will be more competitive with innovations and possibly new manufacturing hubs.
The Saas industry will be a major source of income for many countries, and recommendation systems will govern the politics and opinions of many more people. Unless laws or innovations restrict the disadvantages of recommendation software, it can create unhealthy political environments and lead to the polarisation of the population. Innovation will make the IT industry more relevant in the military, space, and everyday use by the general public. The application of AI in the military can be a catastrophic decision for humanity. All in all, IT is one of the critical industries that will govern the fate of mankind.
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