There are many signs that technology’s early days are ending. CompTIA’s IT Industry Outlook 2022 examines how a mature tech sector impacts the rest of society. CompTIA’s annual industry forecast reports typically begin by describing the size of the IT sector. This description has been a reliable indicator of the technology’s future trajectory for many years. IT vital stats have shown that the industry has grown past $5 trillion in global revenues, expanded beyond highly developed regions, and evolved from foundational pieces to complex solutions.
However, the numbers don’t tell the whole story. The widespread adoption of computing technology can be compared to the rise of manufacturing, which led to decades of socioeconomic changes. There are many signs that technology is reaching its end. CompTIA’s IT Industry Outlook 2022 examines how a mature tech sector impacts the rest of society.
Tech’s Impact on the Employment Market
The job market is one of the most obvious areas where there are ripple effects. Although headlines often talk about AI and automation displacing jobs, they don’t always mention that this has been the case with every major advancement in the way work is done. The transition is not easy. Although the Industrial Revolution created many jobs when factories sprung onto the scene, it took nearly 200 years for the system to stabilize the old way of life.
We won’t have long to wait, we hope. According to The Future of Jobs 2020 report by the World Economic Forum, technology could disrupt 85 million jobs worldwide by 2025, however, 97 million new jobs may emerge. CompTIA’s Cyberstates Report found that the IT services and custom-software development services sector have an estimated jobs multiplier 4.8. This means that for every job in this subsector of tech, an estimated 4.8 additional jobs can be created or supported by direct, indirect, or in-induced means.
Technology disrupts verticals
Tech is also disrupting other verticals. Let’s take healthcare as an example. According to the CDC, telehealth visits increased 50% in the first quarter 2020 compared with the first quarter 2019. This increase was primarily due to the COVID-19 pandemic. However, it is highly probable that virtual visits will continue to grow as an option for many people. Wearable technology, such as wearables, makes it possible for people with chronic diseases like diabetes and heart disease to keep track of their health status in real time.
Consider the field of education. The abrupt transition to online classes for students from kindergarten through college was a wakeup call for learning. There will be a rebalancing process as we move away from the pandemic. However, at a minimum technology offers an option that could make snow days obsolete. The growing demand for skilled workers will drive major changes in higher education, particularly in the area of technology.
What’s Next?
Other ripple effects are only beginning to emerge. These changes are based on the technology that has changed behavior and define society’s structure. The discussion around smart cities has focused on the installation of new technology that automates routine activities and provides data to city planners. As citizens have different needs in terms of commuting and shopping, the city’s function will change. While technology may not always be an integral part of new architecture design, new architecture will be driven largely by technology.
Technology will have a significant impact on the future of planet care. While technology can cause some climate problems (e.g. the energy used to mine cryptocurrency), it can also help solve many of our current problems. Apart from any direct application of technology, the long-term usage of resources and government dictates will lead to a digital worldview.
It can be difficult to predict second- and third-order effects. In the mid-1700s, few people would have seen a steam engine and thought “Ah! This will take us out of the fields to major cities connected by high volume transportation lanes.” Yet, that’s exactly what happened. We know that change is imminent, and the tech industry will be the driving force.
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2022 Trends Illustrate Tech Is Greater Than the Sum of Its Parts