What’s around the bend for the Maryland tech economy? These local leaders shared some thoughts

The impacts of various ongoing developments, from the metaverse’s increasing prominence to the forthcoming gubernatorial shift, on Maryland’s tech economy were on the minds of attendees and panelists alike at last Thursday’s Digital Transformation Summit.

The Maryland Tech Council hosted its third iteration of the annual convention, in which the economic development group looks at the Maryland tech economy’s future, at the Maryland Jockey Club in Laurel.

The event’s six panels covered topics like the future of work within the metaverse, how 5G will impact Maryland’s economy and the digital world’s relevance to healthcare. Speakers from throughout the state’s tech economy offered various insights on how these and other developments might impact residents, with many positive predictions. But, with a new governor and administration on the horizon in November, Maryland Department of Commerce leader Mike Gill warned that the business community’s gains aren’t guaranteed forever.

“Customer loyalty, at best, is fleeting, fragile and circumstantial,” the commerce secretary said in the summit’s opening remarks. “It’s basically saying you might have been great yesterday, but if you’re not great today, you might be at risk of losing a customers. On a larger scale — regardless of all the great successes [during] the last seven-plus years with the Hogan administration — it’s fragile.”

The summit was a time to listen and learn about changes in the industry so entrepreneurs in Maryland can make their next move their best move.

Some key takeaways from the panels included:

• The metaverse is still in its infancy, but the possibilities are vast. Will Gee, founder of VR company Baltivirtual, highlighted the shopping and retail industry that boomed in the metaverse. “Amazon perfected checkout and, in the process, ruined shopping,” Gee said.
• The whole 5G panel offers a crash course in the evolution of mobile networks and cellphones. For instance: The much-hyped 5G speeds typically aren’t possible indoors. Still, with the closing of the C-Band auction, in which service providers were buying rights to use 3.7–3.98 GHz band radio frequencies, carriers are ramping up and changing the 5G landscape
• The concept of the digital twin, or virtual representation that serves as an object’s real-time digital counterpart, is making headroads into the healthcare industry through telehealth’s rise. Panelists discussed a future where procedures can be done virtually across far distances, as well as AI-guided robots that can provide hospital care.

You can watch all the panels in full at the Maryland Tech Council’s Youtube page.