“We’ve seen two years’ worth of digital transformation in two months”, Satya Nadella, CEO of Microsoft said of the technology growth that has sprung out of the coronavirus pandemic. With the stay at home orders, demand for tools to stay virtually connected has grown. All of this growth begs the question “What is the future of technology?” This article will attempt to answer this question by exploring the accelerating evolution of technology and opportunities for investing in tech.
The Future of Technology
Over 40 years ago the first personal computers became available to the public. Now, according to a Pew Report, two-thirds of Americans own a smartphone. Technological evolution has occurred much like biological evolution. For example, in biology genes are the building blocks of humans. Useful genes are passed on to offspring because of the “survival of the fittest”. Our current technological advances were also built on the shoulders of their predecessors.
In the future, we can anticipate that wireless internet will be available in every part of the earth. There is also a prediction that by 2025 wireless voice and data networks will be available to every human on earth. Next, Wifi will become free or at a minor cost which means 3 billion more people will have internet. The increasingly easy access to new technology facilitates further growth in technology. If just .0001% of the 3 billion people who will be connected to the internet make a new technological breakthrough, think of the advances for society as a whole.
Investing in Technology
Although the stock market, in general, has taken a hit, the Nasdaq, which is made up mostly of companies in the tech industry, has gone up. This is significant growth considering we are living in an economy in which 36 million people filed for unemployment in just 2 months this year.
“Software is eating the world,” stated co-founder and general partner of Silicon Valley Venture Capital firm Andreessen Horowitz, Marc Andreessen. Andreessen has also said, “We are in the middle of a dramatic and broad technological and economic shift in which software companies are poised to take over large swathes of the economy.” For instance, Zoom, Amazon, Chegg, and Teledoc have done really well in the market despite the Coronavirus.
However, however hardy the tech stock market is, investing in technology comes with risks. With the rapid rate at which technology is changing, it is difficult to know which innovations will be here today and gone tomorrow. New tech investors are advised by Industry Today to stick with safe stocks like Google and Facebook as these companies have been around for many years and likely will stay.
As our world is rapidly transforming due to the coronavirus, so is technology. Whether you are investing in technology or just planning for the future, it’s important to stay on top of the latest technological advances. Fibernet can help lead you into the next decade of technological growth. Join us for an adventure into the advancing world of technology.