Vision for the Future Career Guide – 14 Emerging / Growing Industries of the Future
by StudyMalaysia.com on September 8, 2021 | Top Stories, Career Guide
With the advent of the Internet, our lives and lifestyles have changed. 20 years ago we did not and could not envision a life that revolves around the Internet. The Internet and its applications have seeped into practically every aspect of our daily lives.
We are now living in a world that is networked and globalized by and with new technologies – technologies that will change the way we live, how we look after our health, how we can avert and combat climate changes and the list goes on. The rate of progress of new technologies is staggering and failing to keep abreast with these radical changes will mean losing out on opportunities.
Thus, if we are able to forecast what the world would be like in 20 years to come, we will be better able to pursue careers or invest in industries that will keep us relevant in the future.
Economists and tech-experts have come up with 14 growing industries of the future.
1. Internet of Things (IOT)
More and more physical ‘things’ are getting connected for the purpose of collecting and sharing data and with other devices and systems over the Internet. In future everything we use from indoors to outdoors will be on the Internet. The manufacturing, construction and service industries are constantly in search of Internet-based mechanisms to incorporate into their products to keep ahead or at least to keep up with others in the market.
Therefore, equipping yourselves with a good knowledge of network, data communication and software skills will definitely stand you in good stead in the future.
2. Artificial Intelligence (AI)
It is the simulation of human intelligence processes by machines. In the coming decades, AI will be very much a part of our lives. Scientists are creating machines with brains like ours and as time goes by these machines are expected to take on new dimensions and incorporate more sophisticated human consciousness.
Applications of AI in Facebook, Google, Amazon etc. are with us almost every day of our lives. The field of AI is not only for scientists but also for psychologists, philosophers, politicians and managers.
Studying AI opens a world of career opportunities. You can work as a software engineer researching neural networks and human-machine interfaces. Or you could work as a hardware engineer developing electronic parking assistant or home assistant. You can let your imagination run wild regarding possibilities opened up by AI.
3. Cyber Security
As new technologies help open up new markets and expand businesses, inevitably we become more dependent on computer systems. This makes us vulnerable to cyber attacks. We often hear of hackers hacking into bank accounts, stealing state information and paralyzing entire companies for ransom.
Thus companies are willing to pay handsomely for cyber security to their systems. They need experts to protect their data and remove vulnerabilities.
Professionals who possess advanced cyber security skills are therefore in high demand. When looking for a course on cyber security it would be wise to choose the ones that offer hands-on experience.
This is the study of whole genomes of organisms. Scientists use the analysis of DNA sequencing to find variations that affect health, disease and drug response. Genomics will be the answer to a lot of health problems and body adaptations to a changing world. It is an industry that is projected to be worth 20 billion dollars in 2022.
A genetics degree can lead to a career in health, scientific research and industry and also provide a range of skills that can be used in many other sectors.
A drone is an unmanned aerial vehicle with a ground-based controller. In the past, drones were used only in wars but in recent years they are used for photography, journalism, delivery of goods, gathering information or supplying essentials for disaster management, mapping of inaccessible terrain and patrolling of borders.
Drone technology has revolutionized agriculture by mapping property, reporting on crop health, improving spraying accuracy, monitoring livestock and irrigation systems thus enhancing efficiency. The commercial usage of drones is gaining momentum as industries are working with drones as part of their regular business functions.
Drone technology requires manpower with degrees in mechanical, aeronautical, software or electrical engineering.
This involves the designing, constructing and using of robots to perform tasks traditionally done by humans. Robots are widely used in automobile and other manufacturing industries where they are assigned simple but repetitive tasks. They are also used in environments that are hazardous to humans.
Robots are increasingly playing parts of entertainers, friends, in-house assistance and co-workers.
Robotics Engineering is considered a high-end professional career. There will be a great demand for robotics engineers in the gaming and manufacturing industries in the near future.
7. Virtual Reality
This is a computer-generated environment with scenes and objects that appear to be real making the users feel as if they are in the actual environment. The surrounding is perceived through a device known as a Virtual Reality headset or helmet.
The study of Virtual Reality opens a whole reservoir of applications such as in the military forces, driving tests, video games, architecture and the training of workers for hazardous tasks.
For those of you who are contemplating a Degree in Information Science or any other related courses, it is highly recommended for .you to look at the study options that include VR which can help you jump on the bandwagon of this fast-expanding sector.
8. Nano Technology
It is a field of research and innovation concerned with building materials and devices on the scale of atoms and molecules and using them like bricks to build any substance or structure needed. These materials have the potentials to increase efficiency of energy consumption, help clean the environment and solve major health problems.
There are many career opportunities related to Nano technology with applications in medicine, energy production and electronics. Nano technology has a phenomenal future. Jobs range from those who develop Nano-based products to those who sell these products.
To be able to join one of the fastest growing industries you can consider a degree in Bioengineering, Chemical Engineering, Chemistry, Electrical Engineering, Material Science & Engineering, Mechanical Engineering or Physics.
9. Renewable Energy
The world is now talking about renewal and sustainability. Two centuries of the use of fossil fuels has brought about immeasurable damage to our environment. Global warming is taking place at an alarming rate. Thus governments, private companies and private individuals are funding research and projects for renewable energy by turning to solar, wind and water as alternatives.
According to estimates renewable energy will be able to fulfil almost 100% of the power supply needed to run the world’s economy by the year 2050. The IOT boom will help speed up this realization by facilitating power supply networks.
A degree in Chemistry specializing in Biochemistry, Chemical Engineering, Bioinformatics or Forensic Science will put you in the forefront for a career in Renewable Energy.
10. Sharing Economy
We are now moving towards a world where we do not have to own everything we need. People are looking at ways where we can share stuff and services in order to cut cost, to increase efficiency and to reduce wastage. UBER car rides and Airbnb are some examples of sharing economy. Through smartphones people are connected and can gain access to services or can provide services at the click of a button.
Sharing can be about rental of office places, cars or household equipment. The sharing economy helps people save money, resources and reduce the impact on the environment.
Jobs can include ridesharing, delivery services, on-demand odd jobs, pet sitting, teaching/tutoring/coaching or even meal-sharing.
e-learning is the trend of education now and in the future. In the corporate sector, training programmes can be conducted by professionals from across the globe and employees from different company branches can sit through the same seminar without having to travel about.
With Virtual Reality application, AI and more people using the Internet. E-learning can be customized and made more engaging and effective for the consumers.
E-learning is a growing industry and provides high employment. Any person who has skills in any field can pursue this career. Basic requirements would probably include having a Degree, good communication and interaction skills, good knowledge of a particular subject and being computer-savvy.
12. Big Data
This is a field that treats ways to analyse, extract information from huge chunks of data that are too large or complex to be dealt with by traditional methods.
Data is everywhere. AI system learns from data and our efficiency and ability to make sound decisions depends on how well we can analyse data collected.
Data scientists are and will be in great demand from marketing to healthcare to politics. To become a data scientist, you can pursue a degree in Computer Science, Social Sciences, Physical Sciences and Statistics.
13. 3D Printing
This is an industry that enables individuals to home manufacture their own spare parts or other items. It provides companies with alternatives for construction and car manufacturing without depending on mass production.
3D Printing is a tool of the new industrial era where people can create products in their own homes saving costs of production and manufacturing.
Jobs related to 3D Printing include those in designing, computer-aided designing, research and development, biological and scientific modelling, architecture/construction modelling and in business.
14. Blockchain technology
This technology allows digital information to be recorded, distributed but not edited. It provides a secure way for individuals to deal directly with each other without an intermediary like a government, bank or a third party.
It has far-reaching applications across many industries to facilitate identity management, smart contracts, supply chain analysis and even voting processes. Its potentials are limitless. It is said to be the new face of the Internet and innovations in this technology is going to contribute in no small way to the future economy.
The demand for people with Blockchain skills is high. There are needs for Blockchain developer, Solution Architect, Project Manager, Quality Engineer and Legal Consultant. A degree in Computer Science or Information Security can give you a headstart in the Blockchain industry.
Technology has the power to change the world. New technologies assist us and make our lives easier. The above future industries if properly harnessed are certainly going to make our world a better world. For career opportunities opened up by these new industries the sky is the limit!
An excerpt written by STUDYMALAYSIA
Source: 14 Growing Industries of the Future (2021 edition), Intelligent Encounters – YouTube