Software has revolutionized how we live, but what new hardware innovations could provide just as much of a change? Could hardware save the world, or was it software that ate it? With new and exciting developments in sensors, human-digital interfaces, and automation and robotics, the potential for hardware innovations is greater than ever for improving humanity’s quality of life and sustainability.
This involves understanding the three main areas of hardware innovation—sensors, human-digital interfaces, and automation and robotics. Sensors, for example, are increasingly able to collect and digitize data for analysis, and the spatial positioning sensors present in the 2022 World Cup match balls show the scope and pace of developments in this area. Human-digital interfaces, such as immersive platforms like VR and AR, are making the digital world feel increasingly more natural for people. Finally, miniaturization, AI at the edge, and advances in environmental sensing suggest that automation and robotics could change the physical world even more than it already has.
It’s an exciting and challenging space, as both startups and established enterprises are attempting to invent products that meet and develop use cases that technology would never be able to do before. Hardware development carries risks distinct from software, with factors such as the form factor, battery life, cost, and processing power all to consider. The latter also serves as the primary limitation for hardware innovation – the strength of the use case and the business value that it can enable. This can be difficult to vocalize and understand when so much software development is being done for existing hardware, particularly for smartphones.
On July 11-12, a gathering of top executives in San Francisco is being held to discuss how leaders are integrating and optimizing AI investments for success, with the hopes of understanding how to bridge the gap between realizing the need for new hardware, and getting the capital and resources to bring it to market. It is a relevant and pressing issue, because hardware innovations have a great potential to improve human health, drive sustainable practices, reduce greenhouse gas emissions, and more. With the U.S. Inflation Reduction Act’s loan supports and incentives for green technology development, and the growing market of smart medical devices predicted to surpass $83 billion by 2028, now is the time to pay more attention to hardware innovations.
Meta is a great example of a company focused on hardware innovation. They are committed to pushing the boundaries of human-digital interfaces with immersive platforms like VR and AR. The company has a successful track record of developing, refining and marketing such technologies, proving their capabilities in the field.
Realizing the potential of hardware will require a great deal of passion and vision. Companies like Meta and EU-sponsored consortiums have demonstrated their commitment to understanding the complex development and supply chain of hardware, as well as their willingness to take a risk on new platforms and devices for the sake of improving quality of life and preserving the environment. It’s up to the market to support these efforts economically as well, so now is the time to look at hardware with new eyes and create the next big thing.
