5 Emerging Technologies in 2022 You Must Know
Technology has the power to change the way we work and how businesses operate. In this hyper-connected world, we rely on technology to communicate and collaborate with each other to improve business processes and efficiency.
Emerging technologies have enabled us to improve the way we approach business operations. For instance, working remotely has become the preferred working style of many employees due to the convenience of cloud computing and virtualisation. In fact, 41% of Singaporean employees prefer to work from home rather than receive a bigger bonus.1 This shows how leveraging technology for remote work can cause workers to reassess their priorities.
The Singapore Institute of Management (SIM) realises the importance of understanding the different technologies. In our Graduate Certificate in Information Technology Management (E-Learning), you’ll learn to adapt and succeed in an ever-changing technological environment by incorporating emerging technologies in your business. Here are five emerging technologies in 2022 that you must know:
1. Metaverse
Ever since Mark Zuckerberg, CEO of Facebook, announced that Facebook was rebranding to Meta and planned on expanding into the metaverse last October, the tech world hasn’t stopped buzzing about it!
People have come to understand the term “metaverse” as part of the virtual world. However, the metaverse goes beyond that because its accessibility won’t just rely on virtual reality (VR) and augmented reality (AR) devices, but also via computers, mobile phones and gaming consoles.
The metaverse will give companies and employees the opportunity to work remotely in an immersive environment that mirrors reality. This gives people a sense of presence and promotes richer, natural interactions that feel real, despite being digital.2
2. Cryptocurrency
Cash and debit cards might become irrelevant in the future as cryptocurrency is slowly stabilising in the market. Cryptocurrency has had its ups and downs throughout the years as many people began to question its legitimacy. For example, the value of Dogecoin has plummeted because it's a “meme coin” with no actual use cases.3
However, despite its high risk, the Singapore government believes that cryptocurrency possesses immense potential to transform the future of finance. This is reflected in their decision to allow crypto service providers, like Luno and Zilliqa Capital, to operate fully regulated cryptocurrency services in Singapore.4 And, the Monetary Authority of Singapore has mandated that crypto companies that wish to operate in Singapore must be licensed locally, even if they are operating worldwide.5
3. Quantum Computing
Quantum computing stems from the development of computer technology that relies on the principles of quantum theory. It’s more powerful than any modern computer and can be used to solve complex problems through faster data analysis.
Quantum computing can be used in multiple industries like healthcare, business, finance, supply chain management, and even cybersecurity. The Singapore government has launched the Quantum Engineering Programme to promote the use of quantum tech in solving real-world problems and developing safe communication technology to combat cybercrime.6
As we become more reliant on technology and cyberspace, it’s important to make full use of the resources available to tackle issues like vaccine development or customer relationship management. Learning to use quantum computing is among our best shots at advancing the digital landscapes used in various industries.
4. Cloud Infrastructure
Cloud computing has been around for ages, but the COVID-19 pandemic maximised its utilisation. During the pandemic, businesses were forced to digitalise their operations. It was during this time that the use of cloud infrastructure, such as Google Drive and Dropbox, skyrocketed.
Today, cloud infrastructure is a must-have for every industry, especially businesses and schools. Its ability to provide seamless integration, accessibility and connectivity on-the-go is definitely worth the investment.
To promote the use of cloud infrastructure, the Singapore government developed the Government Commercial Cloud and plans to pump SGD1 billion, out of an ICT budget of SGD3.8 billion, into creating more systems for it.7
5. Extended Reality
Similar to the metaverse, extended reality is a combination of VR and AR that’s already being used worldwide. In Singapore, extended reality is used to predict how rising sea levels and climate change will affect the country.
To do this, a walking tour called "Adapting Waterfronts: Postcards from the Future, Singapore 2122" was created to give participants a view of what the future could look like. The tour employed the use of AR and Singapore’s archival pictures to encompass a blend of past and present.
3-D AR elements could be interacted with through the use of a smartphone camera and the Adobe Aero app, allowing participants to immerse themselves in a 7.5km walk along Singapore’s historical shoreline.8 This is one example of how extended reality can enhance knowledge and encourage better practices.
Graduate Certificate in Information Technology Management (E-Learning)
Students have the opportunity to pursue three core modules and choose an elective module designed to help you develop analytical, interpersonal, and operational capabilities to confidently implement and manage emerging and disruptive technologies across businesses and organisations.
The three core modules are:
1. Emerging Technologies
In this module, you will gain a deeper understanding of how to adopt emerging technologies and implement them in your business or organisation. Students will also learn how to overcome the challenges that come with each emerging technology.
Knowing how to leverage emerging technologies is a useful skill set that can be applied in any industry as technologies pave the way for better connectivity and improved performance. In essence, knowledge pertaining to emerging technologies will make you an invaluable employee, regardless of the industry.
2. Cybersecurity Management
This module will teach you to use various tools and technologies to ensure the safety of an organisation’s information systems. You’ll learn how to apply theoretical and practical knowledge of cybersecurity to enhance the security of documents, data and systems in your workplace.
3. Data Privacy, Data Ethics and Governance
Managing data and ensuring that it’s ethically used is one of the most important aspects of every company. This module is designed to equip you with the necessary knowledge and skills to demonstrate ethical independent judgement and implement appropriate ethical requirements and provisions in a modern workplace.
Additionally, students can choose from among five elective modules: Accounting and Finance for Managers, Cybersecurity Analytics and Insight, Data Visualisation, Leadership, or People, Organisations and Teamwork.
Speak to our Student Enrolment Advisor to register for this programme today!
References
1https://www.randstad.com.sg/hr-trends/workforce-trends/50-percent-singapore-employees-receive-bonus-2022/
2https://www.theverge.com/22588022/mark-zuckerberg-facebook-ceo-metaverse-interview
3https://www.analyticsinsight.net/dogecoin-cant-be-a-good-investment-option/
4https://www.straitstimes.com/business/economy/crypto-has-crashed-but-fintech-firms-like-luno-and-chainup-continue-to-expand
5https://www.bloomberg.com/news/articles/2022-06-22/singapore-to-approve-three-new-digital-payment-token-permits
6https://www.mas.gov.sg/news/speeches/2022/speech-by-mr-heng-swee-keat-deputy-prime-minister-and-coordinating-minister-for-economic-policies-at-the-asia-tech-x-singapore-summit-on-31-may-2022
7https://www.tech.gov.sg/media/media-releases/2022-06-10-government-fy22-ict-spending
8https://www.straitstimes.com/singapore/augmented-reality-tour-imagines-parts-of-singapore-under-water-in-2122
