Technology is still a powerful force for change around the globe. Technology advancements provide organisations with greater opportunities to increase efficiency and provide new solutions. While it is impossible to predict how technological trends will unfold, business executives may plan ahead more effectively by monitoring the development of new technologies, predicting how organisations can use them, and understanding the variables that influence innovation and acceptance.
Especially when life-changing insights occur on a daily basis. Consider Ameca, which made a dramatic change in the field of humanoid robots in 2022. Its fluid body motions, which included many face expressions, made it perfect for smooth consumer engagement.
However, it is not just technology trends and emerging technologies that are developing; much more has changed this year as a result of the outbreak of COVID-19, making IT workers recognise that their position in the contactless world will not be the same tomorrow. In 2023-24, an IT professional will be continually learning, unlearning, and relearning (out of necessity if not desire).
What does this have to do with us?
It entails keeping up with evolving technologies and the most recent technological developments. It also entails keeping an eye on the future to determine the talents you’ll need to master in order to acquire a secure work tomorrow, as well as learning how to get there. Because of the worldwide epidemic, the majority of the global IT population is sitting back and working from home.
What business priorities will the 2023 technology trends help address?
We anticipate that the 2023 trends will have an influence on enterprise strategy during the next three years, allowing firms to address four important priorities:
- Resilience, operations, or trust optimization
- Increase productivity and customer value by improving solution delivery, product distribution, and connection.
- Customer engagement pioneering quicker reactions or opportunities
- Pursuing long-term technological solutions
These trends may represent a danger or an opportunity for your firm, and this list can assist you in developing a technological roadmap to achieve effect on a variety of strategic goals.
By determining when these trends will be most significant, you may chart your own course, keeping in mind that they do not have to be completed all at once.
1. AI Everywhere
Artificial intelligence will become a reality in enterprises by 2023. If you work in technology, you may be annoyed by how common Artificial Intelligence has become. It has already demonstrated its excellence in navigation apps, cell phones, and other applications for doing creative and routine activities.
This AI craze isn’t going away anytime soon. With its simple drag-and-drop interfaces, no-code AI will soon enable any firm to harness its power to build more intelligent goods and services.
This is already happening in the retail business. Stitch Fix recommends garments to its clients based on their sizes and preferences using AI-enabled algorithms.
Contactless, self-driving shopping and delivery will also be big in 2023. AI will simplify the payment and receipt of products and services for customers.
Another intriguing area to keep an eye on in AI is synthetic content. It entails using AI’s creative capacity to produce previously unheard visuals, sounds, or data. We may anticipate to see the expansion of productive AI in business and entertainment in 2023.
The worldwide AI industry is anticipated to reach $1,597.1 billion by 2030, according to Precedence Research. We should expect additional opportunities in programming, development, testing, and other disciplines as AI becomes more widely used.
2. Introduction of Metaverse
Metaverse can now be defined as “a more computerised universe.” Immersive online environments and next-level user experiences are likely to increase dramatically over the next five years.
The metaverse is a three-dimensional virtual simulation in which individuals may connect with one another across many platforms. Advertisers will understand the unlimited marketing opportunities of this immersive experience during the reign of Internet 3.0, making it a hotspot of brand recognition and engagement.
Experts believe that the metaverse will contribute $5 trillion to the world economy by 2030, and that 2023 will be the year that sets the metaverse’s trajectory for the next decade.
Metaverse encompasses all extended reality technologies that replicate reality, from Virtual Reality to Augmented Reality to Mixed Reality and all in between. It is a significant technological trend right now since we all want to break free from the world’s so-called actual bounds. This technology is extremely popular among gamers, medical professionals, retail and modelling professionals, and others as it creates a realism without any physical presence.
Accenture has already constructed a metaverse environment known as the Nth Floor. This virtual environment includes copies of real-world Accenture workplaces, allowing potential hires and current workers to do HR-related duties without having to visit a physical office.
3. Augmented reality
We are currently witnessing the formation of a link between the digital and physical worlds, and this tendency is expected to continue in 2023. This merging has two components: digital twin technology and 3D printing.
Virtual models of real-world processes, activities, or products are known as digital twins, and they may be used to test innovative ideas in a secure digital environment. Designers and engineers are employing digital twins to duplicate tangible products within virtual realities, allowing them to test under any possible situation without incurring the enormous expenditures of real-world research. We will witness even more digital twins in 2023, from factories to machinery to automobiles to precision healthcare.
3D printing, which is used to create prototypes, is an important trend in innovation and technology. This technique has had a significant influence on the biomedical and industrial sectors. We never imagined printing an actual product from a printer, but it is now a reality. As a result, 3D printing is another breakthrough that is here to stay.
Formula 1 teams, for example, presently collect data from sensors during races, as well as race track temperatures and weather conditions, to analyze how vehicles evolve during races. The data from the sensors is then sent to digital twins of the engines and automobile components, and scenarios are performed to make design adjustments on the fly. Based on the findings of their testing, the teams 3D print automobile parts.
4. Quantum progress
There is now worldwide competition to build large-scale quantum computing.
Quantum computing, which harnesses subatomic particles to generate new ways of processing and storing information, is a technological breakthrough that is projected to deliver us computers that can operate a trillion times faster than the fastest regular processors now available.
It is a branch of computing that focuses on building computer technology based on quantum theory ideas. This theory describes how energy and materials behave at the atomic and subatomic levels. In other words, instead of only 0’s and 1’s, it does computations based on the likelihood of an object’s condition prior to measurement.
Quantum Computing can easily query, analyse, and act on data, independent of its source. It was critical in preventing COVID-19 and generating new vaccinations. These machines are orders of magnitude quicker than standard computers. The market for Quantum Computing is expected to exceed $2.5 billion by 2029.
To enter this field, you must have prior knowledge of quantum physics, linear algebra, machine learning, and information theory.
5. Edge Programming
Cloud computing, which was once a novel technological trend to follow, has now gone mainstream, with key firms AWS (Amazon Web Services), Microsoft Azure, and Google Cloud Platform dominating the industry. Cloud computing popularity is still increasing as more firms transition to a cloud solution. However, it is no longer an emergent technology trend. The edge is.
As the volume of data that enterprises must deal with continues to grow, they have recognised the limitations of cloud computing in several instances. Edge computing is intended to address some of these issues by avoiding the delay imposed by cloud computing and delivering data to a data centre for processing. It can reside “on the edge,” near where computation is required. As a result, edge computing may be utilised to process time-sensitive data in remote places when access to a centralised site is restricted or non-existent. Edge computing can function as tiny datacenters in certain instances.
Edge computing will become more prevalent as the use of Internet of Things (IoT) devices grows. The worldwide edge computing industry is anticipated to reach $6.72 billion by 2023. And this new technology trend is only going to increase, producing a variety of opportunities, particularly for software engineers.
6. Blockchain
Blockchain became well-known in the context of cryptocurrencies and Bitcoin, as well as the security it provides. However, it provides security that can be valuable in a variety of different ways. Blockchain data is data that you can only add to, not take away or change. As a consequence, several portions of data create a ‘chain,’ therefore the term Blockchain.
Blockchain is a highly secure system since current data cannot be edited or erased. Because blockchains are consensus-driven, no single person or organisation can control the data. A third party is not required to supervise transactions.
Blockchain technology is in high demand right now. This technology’s popularity has expanded, and many huge corporations are headed in that direction. As a result, the blockchain technology area necessitates a huge number of developers.
The advantages of blockchain include the network’s decentralisation, security, and data privacy. According to Gartner, the value of blockchain will skyrocket, reaching $176 billion by 2025 and $3.1 trillion by 2030.
Whether startups or large organizations, everyone is looking to tap into the blockchain market.
7. Progress towards a hyper-autonomous system
Business leaders will continue to make strides toward autonomous systems, notably in distribution and logistics. Many industries and warehouses have already achieved partial or complete autonomy.
Hyperautomation may benefit businesses of all kinds, small, medium, and big. It is undeniably true that many firms have begun to use hyper-automation technologies and reap the benefits.
We’ll see even more self-driving trucks and ships, as well as delivery robots, in 2023, and even more warehouses and factories will adopt autonomous technology.
According to Salesforce research, companies expect hyper-automation to be on their technical roadmaps by 2024.
Ocado, a British online supermarket that bills itself as “the world’s largest dedicated online food store,” sorts, lifts, and moves items using thousands of autonomous robots in its highly automated facilities. The warehouse also employs artificial intelligence to position the most popular things within easy reach of the robots. The Ocado startup is now bringing the self-driving technology that powers its successful facilities to other grocery stores.
According to McKinsey, worldwide expenditure on AI is expected to exceed $15 trillion by 2025. TCS, UiPath, Wipro, Infosys, and Appian are just a handful of the world’s most well-known organisations in the hyper-automation sector.
8. Internet of things (IoT)
It is one of the decade’s most promising technologies. Today, many gadgets or ‘things’ are wifi-enabled, which means they can connect to the internet. The Internet of Things refers to a network of various linked gadgets. Devices in the network may connect with one another, gather data, and send it across the network without the need for human involvement.
Hundreds of real-world Internet of Things (IoT) applications exist, ranging from tracking activities with smart gadgets that link to your phone to remotely monitoring house doors or switching applications on and off. Businesses may also use IoT to monitor activities in faraway areas from a central hub and forecast when a gadget will fail so that remedial actions can be implemented before it’s too late.
The Internet of Things is expected to link more than 50 billion devices by 2030. In the next two years, global investment in this cutting-edge technology is expected to surpass $1.1 trillion. IoT is now in its early phases and will swiftly progress in the near future. It demands a core understanding of AI and Machine Learning, as well as information security and data analytics.