Which technology trends matter most for companies in 2022? New analysis by the McKinsey Technology Council highlights the development, possible uses, and industry effects of advanced technologies.
Technology continues to be a primary catalyst for change in the world. Technology advances give businesses, governments, and social-sector institutions more possibilities to lift their productivity, invent and reinvent offerings, and contribute to humanity’s well-being. And while it remains difficult to predict how technology trends will play out, executives can plan ahead better by tracking the development of new technologies, anticipating how companies might use them, and understanding the factors that affect innovation and adoption.
To that end, we have worked with the external and internal experts on the McKinsey Technology Council to identify and interpret 14 of the most significant technology trends unfolding today. This study builds on the trend research we shared last year, adding fresh data and deeper analysis to provide a more granular assessment of trends in two thematic groups: Silicon Age, which encompasses digital and IT technologies, and Engineering Tomorrow, which encompasses physical technologies in domains such as energy and mobility.
Our analysis examines such tangible factors as investment, research activity, and news coverage to gauge the momentum of each trend. We also conducted dozens of interviews and performed hundreds of hours of research to learn which industries are apt to benefit most as they absorb these technologies. And, recognizing that trends can shift, we examined the uncertainties and questions that surround each of them. (For more, please see the sidebar, “Research methodology.”)
Below, we lay out these considerations for all 14 technology trends, so that you can better understand them and consider how they relate to your organization.
To describe the state of each trend, we developed scores for innovation (based on patents and research) and interest (based on news and web searches). We also counted investments in relevant technologies and rated their level of adoption by organizations. READ MORE
By Michael Chui, Roger Roberts, and Lareina Yee
Source: mckinsey.com
“One of the worst things that you can do to a garment, in terms of its durability, is wash it.” So says Mark Sumner, a lecturer in sustainable fashion at the University of Leeds. But while he says reducing the frequency of our clothes washing is the right choice for the environment, he doesn’t advocate a complete washing machine moratorium.
Germany and Canada have teamed up to create what they tout as a “secure and reliable” transatlantic supply chain for green hydrogen. Within the expected long-term alliance, the partners hope to accelerate the commercialization of green hydrogen, which is produced by electrolyzing water using renewable energy sources such as wind or solar power.
Annual spending on energy-related capex projects is forecast to grow to $3 trillion to $5 trillion by 2030. A majority of contractors in a recent Bain survey see an opportunity to reduce project costs by 5% to 10%. Project owners and contractors agree that cost forecasts are often flawed, leaving project teams a narrow window for success.
