5 Tech Trends for 2023 and Their Impact on Businesses

What will be shaping our digital world over the next 12 months, and what tech trends do businesses need to be ready for?

1. Artificial Intelligence for Everyone

With the storm that ChatGTP has made at the start of this year, it is no surprise that AI will become a necessity for organisations of all sizes in 2023.

Smaller companies with less resources will be able to leverage their power with no-code AI and easy-to-build interfaces to create intelligent products and services as fast as their larger competitors.

Creative AI will also become more ‘the norm’.  Everything from writing blog posts to creating artwork and performing sentiment analysis can be generated using AI.  Whilst it’s not at the stage yet of replacing professionals it can certainly assist in exploring new designs, saving time and enhancing creative output.

Be prepared for AI to augment your job in some way.

2. Rise of the “Virtual” World

Immersive Reality, otherwise known as the ‘Metaverse’, is predicted to add $5trillion to the global economy by 2030, and 2023 will be a defining year.

Expect virtual offices, such as that developed by the team at Roam to become more common place to assist remote-working employees to communicate less formally and more efficiently.

Furthermore, companies across industries will be utilising AR (Augmented Reality) and VR (Virtual Reality) to conduct training and onboarding.  By simulating and modifying real-world situations, AR and VR allow greater control of the environment in which training takes place. This saves both time and money and greatly increases safety.

“The Oculus for Business team knows that VR can help us work better. By freeing us from the limitations of physical space, VR can make remote work feel far less remote. It can bring us together in more authentic ways, spark new ideas, and boost our at-work efficiency and effectiveness.” Oculus Blog (September 16, 2020)

3. Web3 will Make Waves

In 2022, Web3 Startups received significant funding to surge development and more globally renown brands such as Starbucks and Steve Aoki are integrating Web3 functionalities into their core products.

Despite having received some criticism in the past, Blockchain technology will advance significantly in 2023 as companies create more decentralised data, products and services.  By doing this and encrypting that data using blockchain, it will not only be safer, but there will be more innovative ways to access and analyse it.

4. Everything is Connected (IoT)

According to a global survey, the number of devices connected to the Internet of Things will reach 30.9 billion by 2025.

From wearable health monitors, connected home appliances, security systems and smart building management systems the IoT is omnipresent whether we are aware of it or not.

We expect over the next 12 month to see businesses utilising this technology more to access and monitor data and leverage it to scale up operations.

More industries will be making the most of this by utilising API-driven platforms to manage devices, including tagging devices based on criteria, taking bulk action like activating and deactivating devices and setting up alerts to detect fraudulent activity.  The data coming from IoT devices can be extremely valuable to companies by saving costs and opening up new revenue opportunities.

5. Smart Security Solutions

As technology develops and we become even more dependent on digital tools and technologies, our need for robust security and resiliency measures increase.

In March 2022, Thales Research reported that “21% of global organisations experienced a ransomware attack in the last year, with 43% of those experiencing a significant impact on operations.”

So how can we expect companies and technology to respond to these increasing threats?

  • Stricter and coherent cybsecurity plans and risk assessments
  • More adequate and comprehensive cybersecurity insurance
  • Remote and hybrid workers will be under greater pressure to keep their devices safe when they are working with weaker networks and in public spaces
  • Evolution of features such as IMEI locks, dynamic Ips and fraud detection

In such a rapidly evolving sector, pin-pointing the top technology trends for the year ahead is difficult to predict.  However, we can say with some certainty that the ones mentioned above are at the top of a long list.

We look forward to seeing how they develop throughout the year!

If you are looking to grow your tech teams this year or are looking for a new exciting and challenging opportunity within one of our tech start-ups, we would love to hear from you!

Natalie Harper

Author Natalie Harper

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