As the world continues to make rapid advances in technology, the potential for exponential growth and development looks increasingly promising. To get a better idea of what the future may bring in the next five years, researchers at Mish’s Outlook have created an eye-opening report, highlighting 17 key predictions that could shape the future of global commerce and industry.
Starting with the basics, the report suggests that the natural world will continue to be a critical component in how we govern ourselves. Policies and regulations will need to be more closely enforced and monitored for any damaging long-term changes that could occur due to climate change. Water and energy usage will also be monitored at an international level, requiring major adjustments in response to the need for more efficient and sustainable practices.
In the field of healthcare, automated methods will enable earlier and more accurate diagnoses, resulting in better patient outcomes. Virtual and augmented reality technology will also become commonplace in radiology and medical training, allowing surgeons to better prepare for the challenges they may face during operations.
For society as a whole, innovations in transportation, coding, artificial intelligence, blockchain, and robotics will impact the way we communicate and interact with one another. Going one step further, Mish suggests that AI-driven self-driving vehicles will reduce emissions and save lives, while blockchain technology could ultimately allow for maximum transparency and secure data transfer.
At the same time, the impacts of e-commerce and digitization will expand to many businesses and in every major industry. Consumers will be able to interact directly with companies and obtain higher levels of custom care. Finally, the increased reliance on digital technology will heighten vulnerabilities and a greater need for secure networks.
Mish’s Outlook 2024 Report provides a stark reminder of the changes and advances we can expect in the coming years. Already, we have seen revolutionary innovations and progress since the report’s initial release in 2019 and the growth of the fourth digital revolution is already well underway. As technology continues to evolve, these 17 predictions give us a glimpse at the potential future of the world and how our lives may be drastically different five years from now.