Top Tech Trends For 2023
Looking at the tech industry, change is the only constant. This applies to your professional life as well, as one must consistently work on up-skilling themselves. With technology evolving rapidly, people need to identify where they should invest their time to yield a productive output.
What are the Top Tech trends for 2023?
The recent unpredicted crisis has led to businesses speeding up innovation as they aim to be more competitive and well-prepared for any such crisis in the coming future. The next few years will be stocked with technological surprises. Here we shall examine some of the Top Tech Trends for 2023:
AI (artificial intelligence) is the ability of a digital computer or robot to perform tasks that are most commonly associated with being performed through intelligence. A robust AI-supported system will facilitate reliability, scalability, and performance while also delivering a complete return on investments.
The looming threat of covid-19 has boosted the use of Artificial intelligence in Business applications. The upcoming industry has integrated automation, data analytics, and NLP (Natural language processing) in its operations. Automation helps remove the risk factor of performing dangerous tasks while also saving a lot spent on manual labor performing repetitive operations.
In the coming future, with Artificial intelligence taking over several core tasks, business owners need to frame a conversation around creating new, more functional jobs so that AI can work in conjunction with people, not instead of people. You can find here our recommendation of the Best AI COmpanies.
The visible growth in cellular technology can be seen through the introduction of 5G. It is expected to provide users with at least 20GBPS download speed and 10GBPS upload speed. With these numbers being compared to 4G LTE, 5G technology will be giving its users 40 times faster speed. This will open new doors for telecom operations to improve customer experience through new services and network operations.
5G technology will rapidly change various industry dynamics. Companies working with tools like AI, and IoT (Internet of things) will benefit from it to improve insight into customer needs and preferences.
Technology innovation has led to users being offered more immersive experiences like Augmented Reality and Virtual Reality. Unlike traditional user interfaces, Virtual reality places the user inside an experience where instead of viewing a screen, the user is immersed in an interactive 3D world. With the simulation of senses such as vision, hearing, touch, and smell, the computer is transformed into a gate to an artificially created world.
Artists, performers, and entertainers have always been deeply interested in the ways that create an imaginative world, setting narratives in a fictional space while deceiving the senses. Illusionary spaces created by painting or views have been there since antiquity; Artificial Intelligence and Augmented Reality use the same concept.
As technology becomes advanced, awareness of the ongoing looming presence of cyber-attacks continues to grow. Numerous organizations undergo huge digital transformations to integrate cybersecurity.
Cyber Security is a concept that is not new. However, its trends are that can be divided into a few common categories:
- Network Security:
It is a practice of securing a computer network from attackers or opportunistic malware.
- Information Security:
Protects data integrity in storage and transit.
- Operation Security:
Includes processes and decisions related to handling and protecting data assets. Simultaneously, storing and sharing the data, the permission given to the users while accessing a network fall under this term.
- Disaster recovery and business continuity:
These define how an organization must react when facing a cyber-security-related situation. These recovery policies dictate how the organization is supposed to restore its operation and return to its previous working capacity.
- End-User education:
People working inside an organization can be one of the major reasons for the unpredictable introduction of cyber-security-related issues. Users need to be taught to follow good security practices to avoid any unwanted risks.
As humans, we are always trying to invent new ways to enhance our quality of life. This curiosity has led us to enter into a newly found territory named “Human Augmentation”. This term covers technological aspects like Artificial Intelligence and IoT (IoT) to focus on enhancing one’s daily life and taking human intelligence to an unbelievable level.
The studies have been shifting their focus on assisting people with disabilities through the help of bionics and prosthetic augmentation to cure sickness by experimenting with different types of genes. However, this technology’s actual goal is to put an end to physical disabilities or prevent serious injuries at all.
Companies like Neuralink aim to build an incredibly powerful brain-machine interface that has the power to process magnanimous amounts of data.
As a designing expert or a seasoned tryout, the most talked about technology in the world of UI/UX is motion sensing. From walking the user through a series of actions to providing visual feedback such as animations or imagery to make the user aware of a task being performed in the background, motion visualization has it all.
Over the past few years, there has been a significant rise in motion-sensing technology. Through sophisticated prototyping and user testing, Motion-sensing allows UX designers to minimize the gap between user expectations and what they perceive through usability support.
Many companies are working full stretch to support UX designers through motion sensing. Their work has allowed thousands of designers easy integrate motion into their designs, making them more attractive and appealing to the eye while also being efficiently interactive. Here are some of the companies that have earned a reputable name in the motion design world:
- LottieFiles : https://lottiefiles.com/
- Icon Scout: https://iconscout.com/
This pandemic has revealed how fragile our system is. Specifically, looking at the health sector, we can see how much it has suffered. In 2018 the global digital health market was at a roundabout $88 billion, which is assumed to increase to a whopping $500 billion by 2025. These numbers show how digital medical examination or digital health could control and rescue society from the ongoing situation.
In 2021 the Digital Health sector is said to develop scalable, sustainable, and affordable healthcare solutions. It is only a matter of a few years before our world embraces these technological leaps as digital technology starts to surround us in every aspect of our lives.
A few years prior, the concept of online gaming or virtual matches was hard to comprehend for a majority of people unaware of its potential. The past few years, combined with this pandemic’s menace, have resulted in the growing market of E-Sports surpassing 1.5 billion dollars as we reach near 2023.
Many reports state that online games are the most favorite source of entertainment for young consumers. Gen Z and Millennials are the consumers that have been seen to incline the most toward the world of E-Sports.
After the pandemic hit us, one-third of the online community turned towards E-Sports. A flux of digital consumers shifted their interest towards cloud gaming and virtual sports portal.
Blockchain and Cryptocurrency
The market for cryptocurrency and blockchain technology covers a vast majority of 265 billion dollars. In the coming years, the number of consumers in cryptocurrency is said to increase from 40 million to double the number of nearly 80 million users. In digital transactions, BlockChain and Crypto Currency are going to be the leading technologies in 2021. Businesses are starting to grow their interest in digitalization, increasing the likelihood of cryptocurrency and blockchain.
Internet of Behavior
This term is not to be confused with the term IoT (Internet of things). The main aim of the Internet of behavior is to capture the “Digital Dust” of people’s lives through various sources. Private or public entities can use this gathered data to read and influence specific behavior. Specifically, looking at consumer data patterns such as buying ratios, government agency information, facial features, driving routes, social media searches, and other types of data gathered through various techniques is used to influence behaviors.
A single smartphone can be used to track your online movements and detect your current real-life geographic position. It is extremely easy for companies to link your very own smartphone to your laptop, house or car cameras, or even record your cell phone records. With this data’s help, companies can know a lot about their consumer’s interests, likes and dislikes, and the way one purchase. This helps them in targeted advertising to attract a particular type of customer to a specific product.
Here are some of the ways data reaped from IOB can be used:
- Test effectiveness of campaigns
- Health providers can measure the engagement efforts of patients
- Policymakers can personalize content
Robotic Process Automation (RPA)
Just like Artificial intelligence and Machine Learning, RPA is another subset that aims to automate several jobs. Processes such as interpreting applications, dealing with data, processing transactions, and even replying to emails are being automated through RPA. With the use of RPA, a lot of tasks being performed repetitively are automated, saving immensely on the cost being spent on manual labor.
Reports show that RPA automation can threaten the livelihood of around 240 million workers, meaning almost 9% of the global workforce will be left jobless once RPA automation takes over the entire world. However, RPA is also creating new jobs as only 5 percent of the occupations will be totally automated, leaving behind 60 percent that can be partially automated.
RPA offers plenty of career opportunities, such as project managers, solution architects and consultants, business analysts, and many more, making it a technology trend to have a keen eye on.
An upcoming technology trend is quantum computing. It makes use of quantum phenomena like superposition and quantum entanglement. The use of this technology involves hindering the spread of coronavirus and developing potential vaccines by making use of its ability to easily query, monitor, analyze and act on data, regardless of the source. Quantum Computing is also firming its grip on banking and finance to manage credit risk or fraud detection and high-frequency trading.
The global revenue generated by quantum computing is set to cross the 2.5 billion dollars mark. To mark this upcoming technology trend, one must have experience in quantum mechanics, probability, machine learning, and linear algebra.
Device Form Factors
With consumer requirements evolving, demand for small, light, yet practical devices is increasing. To meet the users’ needs, manufacturers are heading to the call by providing hybrid devices that double up as tablets and phones. 2021 will see a return of powerful and relatively more efficient folding and unfolding devices.
Cyber-security mesh allows you to access any digital security asset regardless of its location. This will enable people to place a security wall around individuals rather than the entire organization.
With the unpredictability of Covid-19, there has been a sudden rise in the remote workforce. Thus, it has affected the company assets outside the company’s parameters. Cyber-security Mesh has allowed the security parameters to exceed beyond to cover individuals working remotely.
Customer Data Platforms (CDP)
Fragmented data gathered from multiple sources is hard to organize. To operate efficiently, you will need well-curated and timely operations. Roughly about $3 trillion goes down the drain annually due to bad data. Looking at these massive numbers, it is obvious how much of a menace it is and must be addressed as early as possible.
Luckily, CDPs help solves this problem by collecting data from all the sources and then organizing, tag, and making it usable.
Intelligent Composable Business:
ICB (intelligent Composable Business) allows for bringing different things together, including better access to changing data, application delivery, and better decision-making. It focuses on taking advantage of packaged business capabilities.
What is the latest technology?
With the recent pandemic worsening situation, the emerging technologies from it have been the digitalization of the health sector, Artificial Intelligence, Cyber-security Mesh, the Internet of Behavior, and the Internet of things. These are all the sectors that have been under significant technological advancements.
What is the latest technology in 2023?
Augmented reality is poised to become popular in 2023 as it keeps improving and bringing innovations. New high-end devices such as Apple and Android smartphones have started to integrate depth sensors making it easier for AR apps to place objects in physical spaces.
If you found interesting the Top Tech Trends for 2023, you may also be interested in 11 trends to watch closely in 2023 by CB Insights.