Top 15 Technology Trends To Watch Out for in 2023
Technology is ever evolving and it continues to be the driving force for all the major changes in the world. The advent of newer technology has made it clear that it is going to change the way we live or work.
Emerging technologies and latest trends like computing power, datafication, RPA and more are bound to bring a revolution and there is no doubt in it. Once these newer trends gain more momentum, there will be more strategic developments that we will see in 2023. Grasping these emerging trends quickly helps you leverage that competitive edge in your business showing innovation and growth.
To help you know these trends and make you aware, listing here the top 15 technology trends that you should watch out for in 2023:
Artificial Intelligence and Machine Learning
There is no dearth of doubt that AI and machine learning are still the most buzzed out topics in the IT sector. According to Simplilearn, 84% of C-level executives believe that they need to adopt and leverage AI to drive growth objectives.
A machine that is programmed to think and act almost like humans and a subfield of AI enabling that machine to improve their performance in the coming years to become more accurate.
The technology saves time by automating and optimising routine processes and tasks. Furthermore, it increases productivity and operational efficiencies.
One such example of machine learning is ChatGPT which is the talk of the town since the onset of the new year.
Internet of Things (IoT)
There is no denying that the Internet of Things is slowly becoming a part of our daily lives. The ability to connect and exchange data from a variety of devices enables the data to be accessed and analysed in real-time – isn’t this exciting?
In the business world, optimising the business operations while increasing employee productivity is the goal, IoT has the potential to revolutionise the way services are delivered.
As more and more devices are connected, it is quite exciting to witness how IoT continues to evolve and shape the world in the future. Smart homes, smart cities, wearables, and connected cars are few of the examples of IoT.
The most awaited technology of the year ‘5G’ is said to change how we connect to the internet. With significantly faster speeds and lower latency, 5G offers faster downloads, faster seed uploads, seamless connection and a more connected world.
As the technology continues to roll out, it is expected that it will enhance the widespread use of augmented and virtual reality as well as powering the use of IoT devices and applications. According to Perle, the future is in 5G with faster speed and higher bandwidth and is expected to grow at a 17% CAGR.
However, right now, there are various challenges in the adoption of 5G, and by the year end, we will see the world overcoming these challenges.
Cloud computing has become increasingly prominent over the years. With an internet connection, data can be accessed from anywhere and anytime using cloud computing.
A more efficient and secure solution, edge computing has taken over the world. To get the best of both worlds, organisations are adopting hybrid cloud solutions for scalability and security. Not only this, virtual cloud desktops have made remote working management easier for businesses.
Cloud computing has revolutionised the entire delivery of computing services including servers, storage, and databases.
JumpCloud states that 52% of IT professionals cited security as their top challenge.
Obviously, when there is data stored or transferred online, there is a high chance of data leaks. One of the major trends in 2023 is the use of AI and Machine Learning for reducing risk management thereby detecting cyber threats and preventing them from happening.
With newer threats emerging, cybersecurity is an ever evolving technology and will stay here for longer.
Virtual and Augmented Reality
Have you ever thought of a technology that revolutionises the way we interact with the world? Virtual and augmented reality are one such technology that is a computer generated simulation of a 3D environment which can be interacted in a semi-real way.
From gaming to entertainment, from education to healthcare, AR and VR have the potential to transform the way we experience the world. Though technology still needs a lot of innovation and advancement, it is sure that soon we will be able to experience the world in a very different way.
AR and VR once they become widely available and surpass their limitations, it is going to take the world by a storm.
The popularity of blockchain has grown and many organisations are headed in the same direction. A large number of blockchain developers are required in 2023 that can help the network’s decentralisation, security, and privacy of data.
A lot of businesses are trying to tap into the blockchain market as it is nearly impossible to alter or tamper with the data it contains.
From secure financial transactions to powering the supply chains, blockchain technology is definitely going to alter the world of storing and transmitting data.
Robotics and Automation
Robotics and automation technology is not new but it continues to evolve year on year. The rapid developments in this technology has led businesses to adopt them in order to increase productivity and efficiency.
Automating business operations have led organisations to focus on their core business rather than fixing the operational challenges.
The use of machines to perform repetitive tasks save human effort, increase productivity, and improve security.
It is believed that 2023 is going to bring a revolution in the automation industry for all business sectors.
Big Data and Analytics
Big data and analytics have widely become popular recently because there is a large amount of data generated by organisations and individuals on a daily basis. Hence, there is a need to analyse and interpret that data to make an informed decision.
Businesses are adopting big data and analytics in their organisations to improve customer experiences while optimising operations and detecting trends. Predictive outcomes help businesses to gather insights on their campaigns.
Big Data and Analytics have the potential to transform the way organizations make decisions.
It is one of the major technology trends in 2023 because it has revolutionised the way we process and transmit data in the business world.
Quantum computing uses quantum-mechanics like superposition, entanglement and other phenomena to perform operations on data. This makes quantum computers perform tasks way faster than traditional computers
The technology is still evolving as it has a lot of challenges – the fragile quantum ecosystems, lack of skilled personnels, specialised infrastructure and more. But it is said that a lot of inherent complexities will be reduced by the end of this year and the technology will be widely used for solving complex mathematical problems, optimizing supply chain management, simulating chemical reactions, breaking encryptions and more.
Have you ever imagined a profoundly immersive 3D virtual world experience? Well, such an enhancement to the internet world through the metaverse is something big and it is moving at a higher pace in 2023.
A lot of organisations have jumped to adopt metaverse technology in order to produce more creative, social and economic opportunities which enables them to expand their horizons.
Facebook’s rebranding to ‘Meta’ is a signal of its big future plans. Not only this, Roblox Corporation is working to build a metaverse in order to make gamers create their own Avatars, socialise, use real-voice chat functions and more.
Amazon’s new feature where you can virtually place the furniture you’re looking to buy in your home using your phone is a perfect example of Metaverse.
If you are able to give your end customers a metaverse-like experience, it is sure that your business is going to reach newer heights.
Since data analysis has overpowered every industrial sector, predictive analytics is a newer technology that involves machine learning algorithms to analyse data and predict future outcomes.
The technology is now evolving and is used to predict customer behavior, optimising supply chain management, detecting cyber threats and more. It has the power to transform individuals and organisations on how to make informed decisions.
Though, there are limitations to the technology right now but soon it is believed that the algorithms will be improved in 2023 while more and more up-to-date data will be analysed.
Already, automation has taken the world by the storm. Platform Engineering is one such technology that improves the developer experience. It lays emphasis on the delivery of the software in an organisation through reusable tools and capabilities.
The main aim of the IT industry is to get the software out in minimum time, frictionless development cycle, and with minimum overhead.
The demand for softwares that has self-service features, reduced cognitive load, more consistency, higher efficiency, and seamless collaboration is never going to fade away.
Keeping in mind the needs of the end user, platform engineering develops softwares using standard components and automation processes. With this ever-evolving technology, 2023 is going to commence with a big bash in the business world.
Technological advancement in this era will never come to a stop. The world is going to be bombarded with newer and newer technologies year on year.
We know adapting newer technology is not an easy task, but if you wish to give a competitive edge to your business, it is essential that you adopt the latest technologies and keep a room ready for advancement.
Keeping the challenges in mind, we at Visiontech are here to assist you in developing a strategic roadmap for the adoption of new technologies in your business. Our seasoned experts are there to smoothen your journey.