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When you combine these trends the pace of change in every industry over the next decade is going to be incredible.

McKinsey released their top tech trends across all industries.

Cross Industry

1. Next Level Process Automation - Industrial IoT, Robotics, RPA

2. Future of Connectivity - 5G and IoT Connectivity

3. Distributed Infrastructure - Cloud and Edge Computing

4. Next Generation Computing - Quantum Computing

5. Applied AI - Computer Vision, NLP, and Speech tech

6. Future of Programming - Software 2.0, Machines writing Applications

7. Trust Architecture - Zero Trust, Blockchain

Industry Specific

1. Bio Revolution - Biomolecules, omics, biosystems

2. Next-generation materials - Nanomaterials, graphene and 2-D materials

3. Future of Clean Technologies - Nuclear fusion, Smart Distribution, Battery and Power Storage

I'm sure every generation said this before us but the possibilities in our future is limitless.

#healthcare #healthIT #cio #cmio #chime #himss

https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/McKinsey%20Digital/Our%20Insights/The%20top%20trends%20in%20tech%20final/Tech-Trends-Exec-Summary

Transcript

 This transcription is provided by artificial intelligence. We believe in technology but understand that even the smartest robots can sometimes get speech recognition wrong.

  Today in Health it, McKinsey released their top tech trends and we're gonna go through 'em today on our show. My name is Bill Russell. I'm a former CIO for a 16 hospital system and creator of this week in Health IT a channel dedicated to keeping health IT staff current and engaged. I wanna thank our sponsor for today's show, Sirius Healthcare.

They reached out. A little over a year and a half ago and said, we love what you're doing and appreciate your mission to develop the next generation of health leaders. The rest is history as they say. If you believe in our mission and wanna support our show as well, please shoot me a note at partner at this week in health it.com.

Alright. One of the things I do as I'm looking at stories is I look at the major consulting firms and really try to consume the documents they released to the industry. and McKinsey is one of those that I follow, obviously, Deloitte and Accenture and others. So McKinsey boiled this down into seven core industry and three industry specific trends based on prioritized technologies.

Alright, so these are the things they're saying. Keep an eye on. And that's what I would do with this. This is one of those things that I really like to do with this kind of study, is to review these things to, to know what kind of articles I should be reading to get ahead of the curve, what kind of conversations I should be having at conferences to get ahead and stay ahead of the curve.

All right, so number one, next level process automation, industrial IoT robots, RPA, robotic process automation, which we've talked about on the show. Uh, fair amount, digital twins, three and four D printing. These are the kinds of things. That are coming down the pike. Number two, future of connectivity. So you have 5G technology, something that is going to really change the speed at which we connect via mobile networks.

Then you have IoT connectivity, which is these bajillion devices communicating back. To your cloud or to your central system, and all sorts of advancements being made in the area of connectivity there. Distributed infrastructure, cloud and edge computing. Again, we've looked into this on this show, uh, edge Computing is really moving that processing and some of that data store down closer to where the activity's happening so that you can, uh, increase the speed at which people are, uh, utilizing the data and utilizing the processing power within your cloud.

Number four, next generation computing. You have quantum computing and some others in that category. Quantum computing is gonna change things, especially in the area of security, something to keep an eye on. Applied ai, computer vision, natural language processing, and speech technology obviously is exploding in healthcare.

We are seeing this all over the place. Future of programming, I think is one of the more interesting ones to me. Software 2.0, I think there's a lot of different . Avenues this is taking, but one of the most interesting to me is we now have AI and machine learning writing programs. So you have really smart programs writing new applications and programs for us to use, and that's something that I think is really gonna change how we think about and develop software in the future.

Trust architecture, zero. Trust, security, blockchain. Trust architecture was always there. It was there in the background. I think it's just gonna move to the fore. This is, we are going to really have this be a centerpiece for the conversation around privacy and around security, and it's just gonna be more of a central topic for us.

Industry specific trends, as I said, those were the seven that are cross industry. I. Uh, specific industry trends, bio revolution, these, these are the omics and biomolecules and those kinds of things. You have next generation materials, nano materials, graphene 2D materials, and then finally future of clean technologies, batteries, smart distribution, metering, and those types of technologies.

So let's talk about . Each one in a little bit more detail. Then I'm just gonna encourage you to go out and get this document 'cause it's really worth the read. Next level process automation. What are the disruptions that we are looking at? We're looking at self-learning Reconfigurable. Robots will drive automation of physical process beyond routine activities to include less.

Predictable ones leading to fewer people working in these activities and a reconfiguration of the workforce. So that's the disruption that you're gonna see around RPA and we, we know that this is already starting to happen. We have some of this in healthcare. We're starting to implement this technology, especially on the administrative side, which is changing how we hire and how we train and how we deploy our workforce.

Future of connectivity. What's the disruption? With either high bandwidth or low to mid band, uh, 5G reaching up to 80% of the global population by 2030. Think about that date though. 'cause if you listen to this show for any period of time, I'm telling you that 5G is in the future. It's not next week kind of thing.

And that's what they're saying as well. They're saying . 80% coverage by 2030. Enhanced coverage and speed of connections across long and short distances will enable new services. Remote patient monitoring being one of those business models, connected services, and next generation customer experiences. All right, so that high bandwidth, it is much more than high bandwidth, but that is going to enable a new set of services and a new set of business models, distributed infrastructure.

What's the disruption here? Wide availability of IT, infrastructure and services through cloud computing. And that could shift demand for on-premise IT infrastructure and reduce the need for IT setup and maintenance while the. Democratization of infrastructure will help shift competitive advantages away from it and software development and talent.

That is an interesting concept, right? Shift competitive advantage away from the day-to-Day. Mundane it. That is standing up the servers, running a data center, that backend stuff, and shift it more to how well you can develop software. So software development, filling in those gaps, creating new experiences and the talent that you have on staff.

So that's where the disruption's coming there. I'm gonna cover four more disruptions real quick, and then we'll call it a day Next Generation Computing. High computational comp capabilities allow new use cases such as molecule level simulation, reducing the empirical expertise and testing needed for a range of applications, and leading to the following disruption across industries such as materials, chemicals, and pharmaceuticals.

Highly personalized product development. For instance, in medicine, the ability to break the majority of cryptographic security algorithms, which is what we were talking about before, disrupting today's cybersecurity approaches and the faster diffusion of self-driving vehicles. So next generation computing, quantum computing offers some really interesting advances.

And some really scary downsides in terms of breaking essentially all the security processes and mechanisms we use today. Applied ai. What's the disruption? As AI matures and continues to scale, it will enable new applications, eeg, more rapid development cycles, and detailed customer insights, eliminate labor for repetitive tasks.

Like filing, document preparation and indexing and support the global reach of highly specialized services and talent, improved telemedicine and so forth. Future of programming software 2.0, what's the disruption creates new ways of writing software and reduces complexity. However, as companies look to scale their software development capabilities, they will need to master data ops and ML ops.

Practices and technology to make the most of the future of programming. And then finally, trust architecture. What's the disruption here? Trust architecture helps commercial entities and individuals establish trust and conduct business without the need for intermediaries. Even as zero trust security measures address growing cyber attacks, countries and regulatory bodies may likely have to rethink regulatory oversight.

Distributed ledger technologies will reduce costs and enable. Transformative business models. Again, I, here's how I like to use this. My so what on this is, this is great for having a roadmap. Put it somewhere in your office, put it on a post-it. Where you can remind yourself, Hey, these are things that are coming down the pike.

These are articles you want to be reading today, so that in two and three years, when these things start to materialize in the form of new technology, new software, new business models and whatnot, you can identify them or they're coming from, you could potentially identify opportunities for pilots within your organization where you can see a problem that you've been unable to solve before.

And being one of the early adopters to bring these technologies in. That's how I use this information. That's how I look at it. So if you want to download this report, I highly recommend it. It's called The Top Trends in Tech Executive Summary Download McKinsey and Company M-C-K-I-N-S-E-Y, and Company Worth the download.

Go ahead and out on Google search for it. I would give you the URL, but as you would imagine, it's really long. Go out and Google search for it and take a look at it today. That's all for today. If you know of someone that might benefit from our channel, please forward them a note. They can subscribe on our website this week, health.com, or wherever you listen to podcasts.

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