Technology Focus
Cloud & Mobile Computing
Spending on public cloud services is projected to reach $350 billion by 2022. By 2024, the total amount of data created, captured, copied, and consumed in the world is forecast to increase rapidly, reaching ~150 zettabytes, nearly 3x the 59 zettabytes produced in 2020. We believe that increasingly powerful and ubiquitous edge computing will enable new insights and applications that will transform the energy industry in multiple ways.
Internet of Things
40 billion internet-connected devices will accompany 5 billion internet users by 2025. IoT growth will continue to be driven by smaller hardware, inexpensive components, and improved battery life. Data processing and analysis requirements will accelerate exponentially, creating tremendous opportunity for software applications.
Artificial Intelligence
Artificial intelligence may be the most transformative technology of our time. It has the potential to impact nearly every function within the enterprise, including how it interacts with consumers. Some projections indicate that AI may displace millions of knowledge workers in the coming decades. Properly applied, we believe that AI may create as many new jobs as it eliminates.
Augmented & Virtual Reality
Enterprise annual revenue related to augmented and virtual reality is projected to exceed $12 billion by 2025. AR and VR will provide opportunities for consumers and businesses to interact and even transact in new and compelling ways.
Automation & Robotics
Robotic-enabled manufacturing is projected to grow from 10% globally to 25% by 2025. The rise of robots and automation is projected to lead to the displacement of 20 million manufacturing jobs by 2030.