2024-02-25 05:41:01
6 major technology trends selected by EY Consulting [ⓒ EY한영]
[디지털데일리 백지영기자] With ‘MWC 2024’ being held in Barcelona, Spain from the 26th (local time) to the 29th, hosted by the Global Mobile Communications Association (GSMA), EY Consulting presented six major technology trends and insights for the 2024 MWC.
This year, more than 2,400 ICT companies, including global telecommunications companies, from over 200 countries around the world will participate in MWC to showcase various new technologies such as 5G, artificial intelligence (AI), and robots. This year’s theme is ‘Future First’.
Technology trends worth paying attention to are ▲5G and Beyond ▲Connecting Everything ▲Humanising AI ▲Manufacturing DX ▲Game Changers ▲Our Digital Six things were selected, including DNA (Our Digital DNA).
◆ How will post-5G communication technology change the future?
According to GSMA, in line with 5G, which has continued to develop over the past 10 years, 5.9 billion devices will be connected to 5G in 2027, and the 5G-related service market size is expected to reach $2.2082 trillion in 2030.
According to EY research, the proportion of companies planning to invest in 5G by 2026 reaches 57%. In particular, advanced 5G (5G Advanced), such as extended reality (XR), ultra-reliable and low-latency communication (URLLC), artificial intelligence (AI), and satellite communication connection, has entered the full-scale utilization phase.
Despite the spread of 5G, telecommunication companies’ profit margins are decreasing due to increased infrastructure investment costs and intensifying competition. Accordingly, telecommunication companies must develop new business models that can secure sufficient profits in 5G and beyond communication environments.
Lee Dong-hyeon, head of EY Consulting’s Digital Innovation Division, said, “Major global telecommunications companies should begin discussions by opening up various possibilities regarding business partnerships, technology standards, and interoperability, reflecting the faster life cycle of new technologies and longer return on investment period.” explained.
◆ By 2025, 25 billion IoT devices worldwide will be connected to the network.
According to GSMA, the number of IoT devices worldwide is expected to exceed 25 billion in 2025, of which approximately 15 billion are expected to be connected to the network.
In addition, the number of global telecommunication subscribers is expected to increase to approximately 6.3 billion by 2030, ushering in an era of connectivity of all things. For a new era, the introduction of open and sustainable solutions (open networks) and diverse cooperation in the communications ecosystem are required.
EY Consulting explains that in an age where everything is connected, companies need to check who can achieve a ‘digital-first’ infrastructure and whether the current partnership model is working well. .
Companies must continuously understand whether they are providing the optimal technology needed by customers and whether governments in each country are pursuing policies that are appropriate for market conditions. In an era where everything is connected, companies should pay attention to private networks as an alternative that can reduce costs while providing enhanced security, lower latency, and improved coverage.
◆ The future of humanity coexisting with AI
Most companies expect generative AI to dramatically change their business.
In fact, according to GSMA, 76% of companies are planning or planning generative AI projects. However, the proportion of companies that have actually made full-scale investments in AI systems and processes is still low.
Accordingly, companies must identify the various risks they face when applying AI to their business and take proactive measures.
As AI’s impact on business expands, companies must embed a responsible approach when adopting AI and embed trust throughout the AI-related process. Companies should consider what to consider when using generative AI and prioritize measures to prioritize trust and security for data such as personal information.
◆ Digital innovation in manufacturing maximized through connectivity
The manufacturing industry can maximize profit generation through digital transformation, including the commercialization of robots, sustainable technologies, and connected vehicles. In particular, connectivity is emerging as an absolute factor in industrial growth, so connectivity, including 5G, can lead to innovation in all manufacturing environments.
According to GSMA, the value of digital innovation in the manufacturing industry in 2020 was estimated at $263.9 billion, but this figure is expected to triple to $767.8 billion by 2026.
In addition, the annual growth rate of the IoT sector related to smart manufacturing is expected to reach 20% from 2022 to 2030. In addition, the size of the cloud manufacturing market is expected to reach approximately $371.7 billion in 2026, so the digitalization of the manufacturing industry is accelerating.
Digitalization of manufacturing (Manufacturing DX) should lead to improved profitability. In particular, we need to find ways to improve how to cooperate with other industries and how to interconnect people, the environment, and business for sustainable growth.
At the same time, we must fully review and respond to how evolving connectivity will affect business competitiveness now and in the future.
◆ AI, blockchain, and quantum computing ‘Technologies that guide us into the future’
AI, blockchain, quantum computing, and metaverse are considered game changers that will bring fundamental changes to future industrial dynamics.
According to GSMA, the size of the wearable AI market in 2033 is approximately $230 billion, and AI is personalizing customer experiences by utilizing small data that previously had low value.
Quantum computing has the ability to solve problems regarding 158 million times faster than traditional computers. The size of the e-commerce market in 2026 is expected to be approximately $8 trillion, and blockchain technology is expected to have a significant impact on innovation in the financial sector.
Additionally, Metaverse is breaking down the boundaries between the digital and physical world. Each company must find an answer to the fundamental question: ‘Which technologies will bring regarding fundamental changes in industry dynamics?’
Considering the characteristics of your region and industry, you need to understand how and to what extent the latest technologies can actually affect your business.
Director Lee said, “For example, we are looking at trends in major technologies such as the connectivity and data ownership environment that Web 3 is changing, ways to utilize quantum computers, the changing role of smartphones due to the development of augmented reality and virtual reality, and the impact of generative AI.” “It must be analyzed and reflected in future strategies,” he explained.
◆ The future of humanity that embraces digitalization
Sustainability, diversity, and attracting new talent throughout the mobile ecosystem are corporate social responsibilities and core management strategies.
According to the GSMA, while new technologies are emerging rapidly, the proportion of women (28%) among all tech industry leaders is still low. Given the rapidly evolving pace and scope of technology, businesses related to retaining and attracting talented people are expected to grow at a much faster rate than they are now.
Meanwhile, business leaders are trying to run their businesses in an efficient manner, but are still falling short of the UN’s sustainability and energy efficiency goals.
In this situation, side effects of technology are also appearing. 73% of consumers say they will not purchase products from brands that do not protect their data, and the estimated cybercrime damage by 2025 is expected to reach approximately $10.6 trillion.
Director Lee Dong-hyun predicted, “This year’s MWC will examine the direction of evolution of the latest technology in an era of uncertainty and hold extensive discussions on how companies and industries can work together to resolve the side effects of digitalization.”
He continued, “Domestic companies must pay attention to global technology trends to secure a competitive advantage and succeed in the market, such as generative AI, post-5G communication technology, and quantum computing,” and added, “Global companies will continue to pursue digitalization in all businesses.” “We must take note of pursuing human-centered operations whenever possible,” he added.
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