What Is Frontier Technology?

As the name suggests, Frontier technology is on the edge of technological breakthroughs that are changing how humans structure work, communication, creativity, and everyday life. The current market for frontier technologies could grow to $9.5 trillion by 2030 [1]. The types of technology in this market include artificial intelligence (AI), Internet of Things (IoT), new green energies, blockchain, and big data. These technologies represent dramatic global advancement and opportunity.

Read on to explore an overview of key frontier technologies, how they shape the world, and some careers in frontier technology. 

Types of frontier technology

Frontier technologies include any novel or developing technology with the potential to change how humans communicate and solve global problems. Various technologies fall under this umbrella term, but some of the biggest market share comes from these technologies:

• AI

• Internet of Things

• Blockchain

• Big data

• Renewable energy technology

Below, discover more about each type of technology and how it is changing industries.

AI

AI enables computers to learn, reason, and solve problems that mimic the human brain. It comprises three main subsets, although many overlap in their research and use. These include machine learning, computer vision, and natural language processing (NLP).

AI has great potential to change how humans work in nearly all industries, fully integrating and establishing new relationships between humans and technology. This aspect raises new questions about how to regulate the power of this technology to prevent widespread risk. Regulating AI and creating policy requires lawmakers to understand the implications of frontier AI and its ability to create false information, displace workers, or generate algorithmic discrimination. 

IoT

The Internet of Things is an ever-emerging technology that links devices together to communicate information via the internet. This includes devices such as smartphones, smartwatches, and sensors for airplanes, air quality, and water management. IoT has far-reaching potential and is already fundamentally changing the world in various ways, including:

• Consumer health

• Transportation logistics

• Natural disaster detection

• Resource usage

• CO2 emissions

IoT has important implications for intelligently utilizing resources and regulating their consumption, making resource management easier to track and thereby reducing waste. However, IoT devices also produce a lot of electronic waste and consume massive amounts of energy. Many government organizations have begun implementing policies to address these issues. 

Blockchain

Blockchain technology uses digital ledgers to prevent tampering by providing the community in the blockchain with a permanent record of all transactions. The first and most famous instance of blockchain technology is the cryptocurrency Bitcoin, distributed among its users, creating a currency not centralized by a bank, government, or commanding authority. With the rise of Bitcoin and other cryptocurrencies, finance and accounting companies recognize blockchain's economic applications, like improved payment systems and banking services.

While cryptocurrency is one of the most popular examples of blockchain technology, blockchain has potential uses to track supply changes and maintain and secure financial transactions. It may also help change how banks, health care organizations, and governments protect private information.

Big data

Big data refers to the immense amounts of complex data that organizations collect for analysis, typically defined by the “four Vs”:

• Volume: This is the amount of data organizations collect; due to the large volumes, it often measures in gigabytes, zettabytes, and yottabytes.

• Veracity: This refers to how accurate the data is, as the quality of data is essential for achieving reliable results.

• Velocity: This involves the speed with which data is collected and how quickly that data can be used.

• Variety: This refers to the varied sources that supply the data. This is also an important consideration for arriving at valid results.

Big data creates opportunities for businesses to enhance their decision-making and influence customer behavior through data analytics. However, it presents some challenges regarding its collection, quality, and ascertaining whether AI and machine learning algorithms arrive at correct conclusions. The large data sets, as well as the traceability of all data sources, can lead to difficulty in measuring data quality. 

Renewable energy

Renewable energy technologies represent many frontier technologies, given the global need to address climate change. Some of these technologies include:

• Biofuels

• Solar photovoltaic cells

• Wind energy

• Green hydrogen

• Electric vehicles

The need for renewable energy is critical since other frontier technologies like AI require large amounts of energy and water to run while contributing to emissions and e-waste. Renewable energy is therefore a key factor in creating a sustainable digital economy. 

What are the benefits of frontier technology?

Frontier technologies fundamentally change how humans work, create, and organize business. Here are some of the potential benefits of frontier technology:

• Frontier technology may help build better and more equitable infrastructure projects.

• It can help communities create a sustainable future with optimized delivery and usage of natural resources.

• Frontier technologies have the potential to aid in the advancement of less developed countries.

Concerns surrounding frontier technology

Along with all of their benefits, the development of frontier technologies comes with unintended effects. Some concerns include:

• Policymakers have difficulty regulating these technologies since they develop rapidly.

• Frontier technologies present security risks and could disable critical infrastructure.

• Frontier technologies like AI, IoT, and big data are responsible for the overuse of energy, water, and other resources, and they increase the amount of carbon dioxide in the atmosphere.

• Bitcoin mining also involves large-scale energy consumption, calling for new, energy-efficient methods.

Careers in frontier technology 

Look at some emerging careers in frontier technology, their associated salaries, and the requirements to enter the field. 

AI engineer

Average annual salary: $115,686 [2]

Requirements: Bachelor’s degree in data science or a relevant field; some jobs may require a master’s degree

AI engineers develop and train AI algorithms to help achieve various goals for organizations. You’ll need data science, machine learning, and programming skills to create models in this role. Additionally, you must understand statistical analysis and data automation and have strong communication skills since you’ll often collaborate with others. 

Blockchain developer

Average annual salary: $112,006 [3]

Requirements: Bachelor’s degree or master’s degree in computer science or IT

Blockchain developers are specialized software engineers implementing blockchain technologies and solutions for organizations. As a blockchain developer, you must have extensive programming skills and knowledge of blockchain records to create and maintain blockchain infrastructure. 

Cybersecurity analyst 

Average annual salary: $103,743 [4]

Requirements: Typically, a bachelor’s or master’s degree in computer science or a similar field, as well as work experience and certifications

Cybersecurity analysts work to protect digital infrastructure by detecting and eliminating threats and breaches in online security. Your main role will be preventing digital attacks by securing infrastructure. You’ll need skills in various programming languages, an understanding of data analysis, and the ability to deeply examine small details to discover potential threats in data and programs.

IoT architect

Average annual salary: $144,694 [5]

Requirements: Master’s degree in computer science or relevant degree; some employers may look for a PhD

IoT architects choose which kinds of IoT sensors, devices, and connective technologies to use and implement the architecture for IoT networks. As an IoT architect, you will work with companies and clients to develop their IoT needs. You’ll oversee entire IoT infrastructure systems and need a deep understanding of individual devices and overall networks. 

Big data analyst 

Average annual salary: $96,311 [6]

Requirements: Bachelor’s or master’s degree in data science, statistics, or a relevant field

Big data analysts work with businesses to determine what kinds of data they want to collect and explain results and findings from data analysis. For this role, you will need an understanding of mathematics, computer science, and programming to build algorithms that clean, sort, and analyze data. You’ll also create data visualizations to help present your findings to various business stakeholders. 

Renewable energy engineer

Average annual salary: $86,194 [7].

Requirements: Bachelor’s degree in an engineering discipline

Renewable energy engineers design, develop and implement renewable energy solutions. You’ll help create infrastructure solutions and maintain and upgrade technology as needed. You will calculate the amount of energy certain projects require and then create green technologies that efficiently meet energy needs. The skills you’ll need to build for this role include energy engineering, project management, and data analysis. 

Get started with Coursera.

The demand for workers with skills in these areas comes with the development of frontier technologies. With the right resources, you can begin to equip yourself with the skills and knowledge needed for a career in frontier technology. Consider the Master of Applied Data Science from the University of Michigan. You may also explore the IBM AI Engineering Professional Certificate, the Financial Technology (Fintech) Innovations Specialization from the University of Michigan, or the ​Introduction to Programming the Internet of Things (IOT) Specialization from UC Irvine, all found on Coursera.