Technology and trends are rapidly evolving. New technologies transform how we live and interact with our environment, from artificial intelligence (AI) to virtual reality (VR).
And in this ever-changing landscape, businesses must stay abreast of the latest developments to remain competitive. In addition, companies must be prepared to adapt to these new tech trends and gain a competitive edge. Through these trends, they can leverage cutting-edge solutions to help them stay ahead of their competition.
So to help you with that, we at Flexisource IT prepared 10 emerging trends you need to watch in 2023. This article will tackle the importance of keeping up with this technology, followed by new trends to watch this year.
Table of Contents
Why is it important to keep up with tech trends?
Technology is needed in running a business today. Most elements in the company, including customers, competitors, and resources, revolves around technology. But with the rapid pace of technological advancement, organisations need to stay ahead of the curve to stay relevant and capitalise on new opportunities.
In addition, by keeping up with tech trends, businesses can ensure that they utilise the best and most efficient methods for accomplishing tasks. Moreover, these tech trends can help enterprises to identify new markets, improve customer experience, increase efficiency and productivity, and provide a competitive edge.
Likewise, staying informed about the latest technology developments can help companies make informed decisions about their investments and strategic plans.
Here are some of the latest tech trends in the industry.
1. Use of green technology in businesses
The climate crisis is one of the biggest issues faced by the world today. Temperatures are rising, wildfires are occurring more often, and typhoons are stronger than ever. This, over the years, has directly impacted livelihood, businesses, and people. In this regard, corporations took it upon themselves to help solve the climate crisis by patronising green technology.
Green technologies are among the top popular tech trends and inventions. These inventions are designed to reduce the environmental impact of human activities. It encompasses a wide range of products, services, and processes that help conserve natural resources, reduce pollution, reduce waste, and promote sustainability. Green technology includes solar panels, wind turbines, electric vehicles, sustainable construction materials, energy-efficient appliances, wastewater treatment, waste-to-energy, carbon capture, composting, and more.
And while these technologies sound expensive, it’s more affordable than ever over the past decades. In fact, companies are slowly adapting these technologies and using them in their business. According to Statista, the global green technology market is forecasted to grow from USD 46 billion to USD 61 billion by 2023. Thus, we should expect more companies to adopt green technologies in their business slowly.
2. Commercialisation of Quantum computing
Quantum computing is a revolutionary technology that utilises the principles of quantum mechanics. It processes information in impossible ways with conventional computers.
Recently, there have been talks of making quantum computing available to every business. Tech giants all over the world are starting to invest in quantum computing. Companies like Honeywell, Microsoft, AWS, and Google are now involved in quantum computing.
These tech trends can solve problems much faster than classical computers. They can tackle tasks that are impossible for classical computers. It has the potential to solve complex problems that are too difficult, with immense potential in many areas such as cryptography, drug discovery, artificial intelligence, and more.
3. Artificial intelligence is everywhere.
Towards the end of 2022, we saw several AI tech trends released, such as ChatGPT, Metaverse, etc. And as the world of technology continues to evolve, we can expect increased use of AI-driven technologies in various industries. In fact, according to Precedence Research, the global market for AI is expected to hit USD 1,597 billion by 2030. It is currently at USD 119 billion in 2022.
So why is this the case? AI has been applied in various fields, such as medicine, finance, robotics, gaming, natural language processing (NLP), image recognition, and more. And it has become increasingly popular as it promises to revolutionise how we interact with technology and automate tasks that would otherwise require manual labour.
In fact, this technology is already being used in various industries, such as healthcare, finance, transportation, and manufacturing, to improve efficiency, accuracy, and productivity.
4. 5G and other advanced wireless technologies
Another top tech trends are new advanced wireless technologies such as 5G. The fifth generation of mobile networks promises to revolutionise how we communicate and interact with technology. With 5G, we can expect a more connected world with increased productivity and efficiency.
5G is a faster, more reliable, and more secure network than its predecessors, enabling us to stay connected to our digital world at lightning speed. It is expected to provide speeds up to 10 times faster than 4G and ultra-low latency for applications such as virtual reality (VR) and augmented reality (AR). This technology will also enable new use cases like autonomous vehicles and smart cities.
According to a study conducted by Juniper Research, 5G service revenue is expected to grow by USD 315 billion. So, we should expect multiple subscribers using 5G networks and new technology relating to this.
5. Growth of Blockchain in enterprise operations
The use of blockchain in large-scale operations is one of the emerging tech trends in 2023. Blockchain is a decentralised distributed ledger system that allows for secure and transparent transactions without a central authority. This revolutionary technology can be used in various industries, from finance to healthcare, to create more secure and efficient systems. It can also track assets, create smart contracts, and store data securely.
As such, there is a booming trend of using blockchain technology at an enterprise level. Enterprise blockchain has come a long way in recent years. It has helped businesses to reduce costs, increase transparency, and improve security. Corporate adoption of blockchain is expected to drive by 90% in countries such as the US, China, and the UK.
6. Rise of cybersecurity resiliency
Cybersecurity is an essential part of any business’ safety and security. It helps protect businesses from cyber-attacks, data breaches, and other malicious activities. This technology also protects businesses’ confidential information, customer data, and additional sensitive information from unauthorised access or misuse.
By implementing the right cybersecurity measures, businesses can ensure their data is always safe and secure. Likewise, in a recent Cisco report, 62% of organisations consider cybersecurity their top priority. In fact, executives are doubling down their investment in cyber security resilience to enhance their data security.
7. Humanisation of Robots
With the advancement of technology, robots are increasingly becoming more human-like in their behaviour and appearance. This has led to ‘humanisation of robots,’ one of the most popular tech trends in 2023.
Companies humanise robots to make technology more relatable to people. It is believed that giving robots a human-like form and behaviour makes connecting the robot and its user possible, which can benefit both parties. And as consumers demand more personalised service, businesses are slowly adopting this concept.
At Tesla AI Day, Elon Musk revealed two Optimus humanoid prototypes that are said would be ready to take orders within the next 5 years. It is said that the robot can perform various tasks such as lifting items, watering plants, etc.
8. Expansion of Edge computing
One of the top tech trends we should expect in 2023 is the enhancement of edge computing. Edge computing is a distributed computing system that brings computation and data storage closer to the network’s edge. It helps reduce latency and provide faster response times by processing data at the edge of the web instead of in a centralised cloud or data centre.
Likewise, this technology can be used in various applications, such as IoT, autonomous vehicles, smart cities, and more. By leveraging edge computing, businesses can improve their efficiency while reducing costs associated with cloud storage and transmission of large datasets.
As such, this market is expected to grow by USD 445 billion in 2030, according to STL partners.
9. Increase usage of Super Apps
Super Apps are mobile applications that provide users with a wide range of services. These applications combine features from various categories, such as social media, e-commerce, messaging, and gaming. Likewise, it offers users an all-in-one experience by providing them access to multiple services in one place.
And through this, Super Apps are becoming increasingly popular and one of the emerging technologies that will shape the future. In fact, according to Dentsu, one out of three people in the world are super apps user.
10. Digital Immune System
Digital Immune System (DIS) is one of the top emerging tech trends and new concepts gaining traction in cybersecurity. It is an automated system that uses artificial intelligence (AI) and machine learning to detect, analyse, and respond to cyber threats in real time. DIS is designed to help organisations protect their networks from malicious actors by quickly identifying and responding to cyber threats before they can cause damage.
DIS can also be used for proactive security measures, such as scanning for vulnerabilities and deploying countermeasures when needed. By leveraging AI technology, DIS has the potential to revolutionise the way we approach cybersecurity and make our digital world much safer.
In 2023, we will see more tech trends and inventions that will greatly impact our society and future. These trends will likely dominate industries and markets worldwide like every other year. And as business owners, we should embrace and incorporate these trends into our company. Stay updated on the latest news and emerging technology with Flexisource IT. Subscribe to our newsletter or follow us on social media!
Pamela is a full-time content writer and a lifelong Philomath. Her previous experience as a research analyst made her passionate about traveling the world and understanding how it works. During her day off, you can often find her indoors, writing stories or oil painting.