This is the 3603rd most frequent Russian word.
современной
"Modern" or "contemporary."
The word 'современной' here is used as an adjective describing 'живописи' (painting), indicating its attribute of being modern or contemporary.
Эта картина является примером современной живописи.
This painting is an example of modern art.
In this case, the word 'современной' (adapted to 'современником') is used as a noun indicating the temporal coexistence of the individuals mentioned.
Достоевский был современником Толстого.
Dostoevsky was a contemporary of Tolstoy.
Here, 'современной' is an adjective qualifying 'технологии' (technology), signifying its characteristic of belonging to the current time or being innovative.