What are emerging technologies

Emerging technologies are innovative technologies that are still in the development phase. These technologies have a high potential to change existing business models. There are several features that primarily characterize an emerging technology:

• Innovative: They offer completely new solutions
  
• Disruptive: They are superior to established technologies
  
• Interdisciplinary: They are often created at the interface of different research and technology areas
  

There have always been emerging technologies in the history of mankind. In the recent past, for example, it was the internet and the smartphone. Even earlier, it was the steam engine and the car. The difference to the past is that technological progress is much faster. This makes it all the more difficult for companies to understand how these new technologies work and how they can be used in the company. Another challenge is assessing the potential of an emerging technology. There is often initial hype about a technology, but it is difficult to know whether this technology will prove itself in the long term. 


At the moment, artificial intelligence (AI) is certainly the best example of an emerging technology. But blockchain technology, on which Bitcoin is based, is also very popular. In contrast, the non-fungible token (NFT) hype has fallen sharply again and no longer has the global interest it did a few years ago. Other examples of emerging technologies include quantum computing, augmented reality (AR), virtual reality (VR) and autonomous driving.

Source: DALL-E

Advantages through emerging technologies

The next question that arises is what advantages emerging technologies bring with them. Of course, this depends heavily on the technology itself, but emerging technologies offer companies a wide range of concrete benefits

1. Increasing efficiency
   The most important point is the increase in efficiency through technology. A current example is artificial intelligence. This has brought about a massive increase in efficiency. AI can deliver precise results in a matter of seconds, which would previously have taken much longer. 
   
2. Sustainability
   Increasing efficiency also automatically saves energy. Initially, these technologies are often not yet highly optimized and energy consumption is high. However, through investment and the further development of a technology, it becomes more and more efficient and energy-saving. 
   
3. Increased security
   Emerging technologies will also promote safety. One example of this is autonomous driving, even if it is not yet permitted in Switzerland. It is assumed that vehicles that are controlled by machines will cause fewer accidents, as the human component will be eliminated. Another example is the recognition of dangers in IT systems by AI. 
   
4. Market development and jobs
   New technologies also bring new opportunities and business ideas. Once the potential of a technology has been recognized, a lot of investment flows into it to promote the technology. As a result, the jobs lost through AI, for example, are created in another sector. 
   

Use cases of emerging technologies

Emerging technologies offer numerous potential applications, particularly in the field of IT. One major point is the use of AI for automation. For example, companies can automate repetitive tasks, such as administrative activities or other processes. This saves time, reduces errors and lowers operating costs.


Marketing can also benefit from AI. For example, AI can evaluate the performance of an advertising campaign or a website and analyze customer behaviour. This means that advertising can then be placed in an even more optimized way. This increases customer satisfaction and sales. To make customer service more efficient, companies can implement chatbots with AI on their websites.


FinOps can also optimize cloud costs with the help of AI. AI can analyze the entire cloud infrastructure and automatically shut down unused resources. This reduces costs without affecting the performance or availability of services. AI also recognizes patterns in usage behaviour and can make suggestions for more resource-efficient use. 


Another specific use case is the use of blockchain technology for the IT security and data integrity. Some companies use blockchain to securely store sensitive data and make it tamper-proof. In addition, blockchain enables the traceability of transactions and prevents data loss or manipulation. 

Conclusion

Emerging technologies are more than just a trend - they offer companies the opportunity to adapt to technological change, achieve efficiency gains and tap into new business areas. From automating repetitive processes to optimizing cloud costs and increasing IT security - the use cases are diverse and offer tangible benefits for companies of all sizes. Let's find out together how emerging technologies can help your company move forward. Contact us to find out more about how we can support you in implementing innovative technologies.