Top 5 Tech Trends you need to watch out for in 2022

Technology is rapidly evolving today, leading to faster change and progress rates that have become challenging to keep up with. However, it is not only technology trends and their emergence that are evolving; much more has changed in the past couple of years as a result of the COVID-19 pandemic, making IT experts realize that their role is no longer the same. They currently have a huge responsibility of anticipating the work leading to a fascinating future. Therefore, companies from different industries – such as the medical, educational, and tourism ones – are becoming more adapting to this new phenomenon and releasing enhanced technologies to assist other organizations in handling their work.

With that being said, we compiled an updated list of the latest technology trends of 2022 that will give you insights into the world’s tech facet for the next few months.

Artificial Intelligence and Machine Learning

Artificial intelligence (AI) is a broad field of computer science concerned with creating intelligent machines capable of performing tasks that normally require human intelligence. Some examples of AI would be smart mobile voice assistants, Netflix’s recommendations, self-driving cars, and chatbots. On the other hand, machine learning is a subset of AI that enables software applications to improve their accuracy in predicting results without being explicitly programmed to do so. Its algorithms predict new output values by using historical data as input.

Developers are now taking this technology further where it will be able to determine underlying information by analyzing certain interactions. This way, it will also help predict demand for services for better decision-making processes and analyze data in almost real-time to detect changing patterns of customer behavior; thus, increasing profits and revenues

Extended Reality

Extended Reality is the umbrella term for Augmented Reality, Virtual Reality, Mixed Reality, and everything in between. It modifies human-machine screen interaction by immersing users in a virtual world, augmenting their surroundings, or doing both at the same time.

Extended reality has tremendous potential for training, entertainment, education, marketing, and even injury rehabilitation. It could be used for many purposes like training doctors to perform surgery, providing a more immersive experience for museum visitors, improving theme parks, or even working toward much more effective marketing strategies. In 2019, 14 million AR and VR devices were sold. The global market for this technology is now expected to reach $209.2 billion this year, opening up more opportunities in the trending technology and welcoming more professionals prepared for this game-changing field.

For more details, check out the list of the 7 Biggest AR and VR trends in 2022 that we have piled up for you

Metaverse

Ever since Mark Zuckerberg switched Facebook’s name to Meta, a major focus on the Metaverse took place. This new universe is now considered to be the latest evolution in social connectivity, where people can log in as avatars in a three-dimensional virtual space. In this platform, users can collaborate, shop, work, socialize, play games, attend concerts, and do pretty much everything they do in real life. This extended reality is expected to be blurring the lines between physical and digital realms.

People are also paying real money for virtual goods in the Metaverse, which can be a good investment in the long run as this technology seems very promising. Analysts predict that this virtual environment will become worth $800 billion by 2024.

Quantum Computing

Quantum computing is a new era of technology that involves a type of computer that is 158 million times faster than today’s most supercomputer. It is a device so powerful that it can complete in only four minutes what a traditional supercomputer would take 10,000 years to do.

In 2022, quantum computers are and will continue to be fundamental in altering the way we approach problems. Because of the computing system’s ability to easily question, track, analyze, and process the data from any source, this exhilarating technology trend was able to prevent the spread of the coronavirus and develop potential vaccines. Banking and finance are also finding applications for quantum computing, such as credit risk management, high-frequency trading, and fraud detection.

5G

5G refers to the fifth generation of mobile networks. It enables a new type of system capable of connecting virtually everyone and everything, including machines, objects, and devices. While 4G brought substantial improvements, such as smooth video streaming, 5G has 100 times the speed, which means that uploads, downloads, data transfers, and streams will be much faster. It also can transmit radio waves to up to one million devices per square kilometer to control connectivity when positioned in congested areas, something that 4G mobile networks’ failed to do. Therefore, it is only fair to say that 5G is expected to revolutionize our lives and the different ways we decide to consume mobile networks.

As a result, 5G networks will be covering 40% of the world by 2024, handling 25% of all mobile traffic data, to make it an emerging tech trend to keep an eye on.

Learn More

What is the Metaverse and what are its use cases

What is the Metaverse?

The Internet’s favorite buzzword has become the “Metaverse.” Talking about it is similar to talking about the internet in the 1970s in many ways. As the foundation for the new mode of communication was constructed, debates about what it would look like and how people would use it arose. Everyone was talking about it, but few understood what it meant or how it would function.

Neal Stephenson’s novel Snow Crash is credited with creating the phrase “Metaverse.” In his writing, the Metaverse is a 3D virtual reality realm accessed via personal terminals and virtual reality goggles similar to the Oculus Quest that is being produced right now. Three main elements that make up this second world are VR Interface, digital ownership (aka NFTs), and avatars. If giving attributes might help you understand the function of the Metaverse, there you go. In a broad definition, the Metaverse is:

  • Infinite since it supports a large number of modern users and VR environments.
  • Interoperable, which enables users to transfer virtual things, such as avatars, from one Metaverse project to another.
  • Self-sustainable meaning that users may generate money and pay for their usefulness within the Metaverse.
  • Persistent in the sense that it exists independent of the user’s physical presence.
Metaverse use cases

Metaverse Use Cases

Virtual working space

The covid-19 pandemic fueled the rise of remote working. Traditionally, people used to physically attend offices. However, the new lifestyle we got used to dictated that we work remotely to keep businesses running. Although some employees found that to be suitable for them, the experience of being in an office and communicating with colleagues was lacking. This is where the Metaverse steps in.

This parallel universe addresses this restriction by providing customers with a more engaging experience with its graphically rich virtual world, 3-D avatars, and immersive meetings. The Metaverse allows people to traverse a virtual world with lifelike participant avatars rather than viewing them on a computer screen and speaking through microphones. Many companies have now been capitalizing on Metaverse use cases, and Virtuworx is one of them. This brand has already started creating virtual office environments. It has created a combination of virtual reality and mixed reality settings, complete with digital avatars, to provide a meaningful and effective professional experience. Teams also have the right to access many functions such as events, offices, conferences, virtual training, and trade exhibitions with a totally configurable solution.

Blockchain use cases

For the Metaverse to be widely adopted across different sectors, blockchain – or decentralized technology – is needed. It is known by now that the blockchain powers cryptocurrencies such as Bitcoin, Ether, and Doge Coin. However, this decentralized technology is capable of doing much more than that. It also functions as a distributed ledger for documenting peer-to-peer transactions and facilitating the development of decentralized applications (dApps) and non-fungible tokens (NFTs). Companies may utilize the Metaverse to create more engaging and realistic NFT markets. These markets might become more participatory with the aid of this virtual realm, allowing users to connect with one another. The interactive environment created allows consumers to see NFTs and make educated purchasing selections.

Because the Metaverse provides a shared virtual area, several possible blockchain use cases like the promotion of new NFTs or blockchain games have emerged. They can assist players in earning various in-game items, which they can exchange with other players or in external marketplaces. As a result, the Metaverse initiatives might provide the groundwork for the next generation of online blockchain-based gaming.

Unlocking virtual marketing opportunities

Technology opens up new options for organizations, allowing them to successfully market their services and goods. It is now made possible for businesses to move away from the two-dimensional surface of e-commerce into 3D product digitization for a more immersive experience. In addition, apart from the online retail industry, users of the Metaverse can buy, interact, and engage in leisure activities. 

Owners of e-commerce businesses can now connect with merchants in a virtual environment and conduct product inspections, negotiations, and transaction closing. Furthermore, rather than just depending on digital marketing strategies, businesses may better impact customers by creating engaging and realistic marketing material.

Metaverse technology enhances the production, ownership, and trading of digital assets and tokenized copies of real-world assets, empowering cryptos and NFTs. Therefore, capitalizing on it is essential to keep up with the future’s online trends and to increase revenues.

Virtual Tourism

What if you could be a tourist in a country of your choice without being physically present there? It might seem absurd at first, but the Metaverse can turn this concept into reality. The development of an immersive digital environment integrating VR and AR is expected to be a game-changer in the field of virtual tourism. A digital area with genuine content might become a product that partially replaces traditional travel.

We’re already seeing the beginnings of 360-degree virtual tours. However, with the development of Metaverse technology, people will not only be able to watch a video tour recorded by a guide but will also be there in the tourist spot of their choice. They can even visit this location with their family and friends, which will enhance their experience.

Learn More

Why are people investing in virtual things with real money?

We have been accustomed throughout history to buying tangible things, to the point where we now find it obsolete to spend hard cash on virtual goods and properties. It might seem like a scam for some at first, but in fact, it is the absolute opposite. It is quite normal to be skeptical with little information about this relatively new concept; however, by the end of this read, you will have a clear image of why investing virtually is the future, and how you could actually benefit from it. In this article, we will look into the relationship between real money and virtual things in NFTs, as well as the fashion and real estate industries.
Spending money on virtual things

NFTs

In case you are not very familiar or have questions about NFTs, these are non-fungible tokens that are unique and cannot be replaced. They can be any type of digital or conceptual content – photographs, videos, pixels, music, or even experiences and abstract concepts – that is the sole property of the owner and possible buyer. So why are people purchasing digital arts from anywhere between hundreds and millions of dollars? The answer is simply due to several factors such as the increased price of Bitcoin, the pandemic, and a recent distrust in the US currency. 

Think of it as creating an art form, but instead of profiting by selling it physically, you are doing so virtually. In the real world, it has become very easy to copy and use this work by a number of people. With NFTs, you are earning and trading these items in a way more modern, secure, and beneficial way.
By investing in NFT technology, brands are opening up new ways to incorporate profitable possibilities into their digital marketing efforts. They are using them to stretch traditional advertising limits and interact with their audiences with the purpose of cashing in on revenue sources.

Fashion

While many people find the concept of spending real money on clothes that do not exist difficult to understand, virtual items create genuine sales in the “Metaverse” – online spaces where individuals may assemble, move about, meet friends, and play games. Clothing for avatars, known as “wearables,” can be bought and sold on the blockchain in the form of a crypto asset. 

For people in the Metaverse, virtual clothes are one way of expressing the identity of their avatar and how they would like to be perceived. This phenomenon has gained increased popularity, especially during the covid-19 pandemic, in times when people spent most of their time online. As for big brands that incorporate the virtual realm in their marketing strategies, they were able to generate millions of dollars by selling such items. For instance, major fashion brands – Dolce & Gabbana, Tommy Hilfiger, Etro, Fred Segal, Cavalli, and others – who participated in the first-ever Metaverse Fashion Week were able to collect $75,757 worth of 7,065 wearables according to representatives.

Real Estate

While buying real properties in the physical world might seem like a smart investment, is doing so in the virtual realm worth it? Virtual lands in the Metaverse are intangible spaces that houses, parks, or shopping centers can be built on. They are sold in parcels, just like actual land, and are purchased using cryptocurrencies. The two key elements impacting the value of virtual land are location and scarcity. For example, a virtual land in regions where people in the Metaverse densely assemble will naturally have a greater value than ones with here fewer events taking place.

Having said that, it is fair to mention that purchasing parcels might be the contemporary strategy for making money. Owning spaces in the Metaverse means you have the green light to exploit them in whatever way you choose to. You can throw exclusive parties – take the Fashion Week example – then charge people for entrance. If parties are not your thing, another option might be building a new business. You would be surprised to know how many avatars are actually interested in spending time at a virtual bar, restaurants, activities, or even galleries. 
Another reason to buy properties in the Metaverse is for investment purposes. To date, lands can reach a value of around $4.3 million. Investment is another typical cause. Lands have sold for as much as $4.3 million thus far and more is yet to come. In this case, investors are buying virtual territory and waiting for it to increase in value. Alternatively, they can upgrade an already-existing property by revamping its design and usability before selling it at a greater price. 
Learn More

What happened at the Metaverse Fashion Week? Discover it all now – Designhubz

About Metaverse Fashion Week

Decentraland’s Metaverse Fashion Week, which spanned from March 24 to 27, saw a slew of international brands that embraced the virtual realm in a four-day series of events. Thousands of people were able to virtually attend fashion runways, listen to live music at branded after-parties, and purchase and wear digital apparel from catwalk avatars. Unlike real-life fashion weeks, the Metaverse democratized this concept by giving free-for-all access, with no need to purchase any event ticket. All you need is a browser that does not crash and you are good to go.

Over 60 luxury fashion brands, including Dolce & Gabbana, Etro, Tommy Hilfiger, and Selfridge, have participated in the Metaverse Fashion Week, displaying over 500 looks. During the one-of-a-kind event, there were over four after-parties with the presence of notable performers, like Nicki Nicole, Marc-O-Matic, and Dundas, to name a few.

NFT wearables

Not only that. The renowned Estée Lauder was the only beauty brand in the MVFW. It earned the chance to launch its very own Non-Fungible Token (NFT) wearable. There were only 10,000 of its famous-serum-inspired NFT, obtainable exclusively during the Metaverse Fashion Week. Bulova, a watch-making company, also took advantage of this exceptional event to showcase a re-imagined version of its renowned Computrom wristwatch. The Special Edition version of the watch, which comes in black and green, was only available as NFTs and is limited to 1,000 pieces.

Metaverse Fashion Week Runway

Thursday kicked out with a Perry Ellis presentation on the catwalk, followed by Dolce & Gabbana and Philipp Plein exhibitions and parties featuring digital-only designs. Anrealage and Etro performed on Friday, whereas Cider, Fresh Couture, and The Fabricant presented on Saturday. Vogue also debuted a partnership with streetwear brand Hype, followed by the digital fashion house Placebo.

In addition, the unexpected arrival of Sophia, the world-famous humanoid robot, was one of the major draws of the Metaverse Fashion Week. Sophia has been spotted in several parts of the Decentraland universe, particularly in MVFW locations like Rarible Fresh Drip Zone. Decentraland invited users to find Sophia anywhere on the platform and take photographs with her using the hashtag #findingsophiatherobot on Twitter. As a reward, users were allowed to engage in a special NFT prize.
Learn More

Avatars in the Metaverse: an Identity Revolution to keep your eyes on

As discussed in our previous article about physical and virtual identities, professionals are looking to develop inclusive identities for Avatars in the Metaverse. Marginalized groups have been underrepresented IRL, but are hopeful about being organically included in the virtual realm. Many of them believe that being in the virtual world can be a type of escapism and a new opportunity for social connection. However, they still have some concerns about being discriminated against in the Metaverse.
Avatars in the Metaverse

Avatars’ appearances in the Metaverse:

Even though there has been numerous investments within the fashion industry in the Metaverse, the Institute of Digital Fashion was one of the first to fearlessly introduce gender non-conforming Avatars with Daz 3D. This move raised awareness and paved the way for more similar inclusive projects by other companies as well.

The IoDF also conducted a study which showed that people are demanding a better representation of gender identities, body types, skin colors, disabilities, and clothing style. Over 40% of respondents mentioned that their clothing style did not match their in-person identity. This indicates how real-life society pressures individuals to not be their own selves in the physical world. In addition, 9% identified as non-binary. This group is also demanding the representation of their true identity. One form of doing so is by creating genderless clothing lines.

Gen Z’s influence on the Metaverse’s Avatars

Many clothing brands are now on the run to create customized, expressive, and diverse collections for Avatars to wear. This also comes with an awareness that Gen Z is the most beneficial and profit-making target in the virtual world. By the time we are clear and complete about the Metaverse, this generation will be the most consuming of the virtual world.

As for now, it is creating an identity revolution that cannot be disregarded. With a relatively limited buying power, Gen Z is tremendously influencing today’s culture and norms, as well as the spending power of their Gen X-er parents.
Nowadays, more than ever, younger individuals unapologetically and openly talk about their true identity. They aim to create inclusive and safe spaces for all to express themselves. Therefore, it is only fair for brands to respond to their needs and demands if they want to keep thriving in the industry.
Learn More