By now you’ll have read more than enough about 2022 predictions for technology trends as an enabler of everything from the abstract – the metaverse, DAOs and NFTs – to the physical: 3D-printed bone implants, machines that suck carbon from the air, and zero-emissions transport.
Naturally, we’re all very excited about that. However, as we hit 2022 running, what our Madano Technology Team is thinking about – and preparing clients for – are the trends in the landscape itself: the factors the UK’s top innovators will need to contend with as they navigate what will inevitably be yet another challenging, but exciting year ahead.
MADANO’S TOP TECH PREDICTIONS FOR 2022
- Demand for technology will rise – but public trust will continue to wane
We’re all carrying a news hangover from yet another year of blow-out headlines dominated by bombshell whistle blower accusations, full-blown security meltdowns and tech executives facing fraud convictions. And yet although there’s a growing contingent of us who might like to, we can’t quit our complex relationships with technology. It’s too entrenched in our lives, touching everything from how we access health, employment and education, to how we engage in personal relationships, social issues, climate change and politics.
Trust in tech is waning, and that’s a problem for firms big and small – and one they cannot simply innovate away from. The winners of 2022 will be those who not only authentically understand public concerns around privacy and transparency – but who seek to meaningfully address them. Effective and active communications will play the starring role in that.
- The talent crunch will intensify
Robots, AI and automation are here. And yet they’re not out to take our jobs – in many cases, they’re creating a lot of them. In 2021, high-tech jobs shot up 50% over 2020, with over 160,000 postings in November alone. In 2022, we don’t see signs of that slowing.
Firms looking to start or scale-up with the best and brightest talent will need to put forward an attractive employer brand to cut through intense competition. Mature companies will need to prioritise retention in the face of the Great Resignation.
On the policy front, this will lead to an increased focus on high-tech talent immigration, such as that tabled by Chancellor Rishi Sunak in the Autumn Budget, and high-tech skills-development for both the current and future workforce.
- Fierce competition for cash…
Last year brought the best-ever year for tech in the UK, with £29.4bn in venture capital investment (up 2.3x), a record 37 listings and 29 new unicorns, demonstrating a significant appetite from investors that is set to continue into 2022. And if the Autumn Budget 2021 is any indication, we can also expect that government will find more ways to ramp up its Science Superpower ambitions with further focus on domestic R&D and international investment incentives.
With the UK becoming an attractive alternative to Silicon Valley, we can expect in 2022 to see even more global and local market entrants, while existing innovators eke out a bigger piece of the investment pie. Competition – particularly in fintech, payments and logistics – will be fierce.
- … And attention
More investment = more tech companies = a crowded media landscape, lobbying circuit and social media newsfeed.
As in recent years past, many innovators will tout novel solutions – but in reality, they will be up against many others who do the same. They will also face a public now fully inundated with options.
How these firms position their tech, founders, and executives will define the cut-through they achieve. With that in mind, our new year’s resolution for start-ups is simple: let 2022 be the year of matching your external presence to your internal ambitions. Build proudly in public, embrace the massive media potential of the Twitter newsfeed, and use the power of creative digital to unlock opportunities.
- Tech for good will breakthrough
2021 brought us weather terms we never wanted to learn, from polar vortexes, heat domes, to a horrifying “eye of fire.” It also brought us significant healthcare access challenges caused by the ripple effects of the pandemic. If we are to believe that 2020 was the year these issues shot to the fore in our collective consciousness, then 2021 was the year that consciousness matured.
But it’s not all bad news, and we like to end things on a positive, which is why our final prediction for 2022 rests in our belief that it will be the year of tech for good. There’s more money and talent in climate, health, life sciences and agrifood tech than ever before, and judging by the UK’s top 2021 tech winners, we can expect these firms to land more investment – and hopefully adoption – this year.
Regardless of what happens in 2022, we can be sure that it will be another big, turbulent and exciting year for technology. Are you a tech worker, founder or investor who wants to share your perspectives with us? We’d love to hear from you. Be sure to drop us a line at: [email protected].