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Four Technology Trends for 2023

2023 promises to be a year where certain technologies will be leveraged to a greater degree than what was previously thought possible. These technologies are nothing new, but they have evolved immensely in recent years as they gain more users as well.

For businesses that are looking to make headway this year in terms of growth and innovation, they should be keeping an eye out for developments in these particular technologies:

1. AI tools

It is expected that more business and retail environments will utilize tools powered by artificial intelligence (AI). Some examples of these AI-powered tools include “no code required” tools for designing new products or services and algorithms that recommend clothes based on customer preferences. That is not even taking into account the growing popularity of tools such as DALL-E and ChatGPT which are creating new forms of art, writing, and creative expression.

Businesses should be reminded though of the ongoing discussions about AI, its future, and the ethics of its use which can put them at a precarious spot depending on how they plan to use AI. It is important therefore for businesses to not only be attuned to such discourse but also plan carefully on how they will utilize the technology.

2. Metaverse

Mark Zuckerberg popularized the term “metaverse” to describe the digitally-immersive environment being built by his company, renamed Meta to reflect this new vision. While development has moved at a slow pace and the idea of the metaverse has been mocked or joked upon in the web, experts are not denying its potential. It is even projected that up to $5 trillion will be invested on the metaverse by 2030.

It is expected that this year will see a significant move toward building more digitally immersive environments. Already, Microsoft is developing a platform for collaborating on projects in the metaverse, while consulting firm Accenture is developing onboarding and training tools.

3. Blockchain

Blockchain is often associated with cryptocurrencies like bitcoin and given some people’s opinions on cryptocurrencies in general, this may also affect their perception of the blockchain. Nevertheless, blockchain’s importance not only in cryptocurrency but in other financial transactions cannot be overstated enough. Because it stores information across multiple servers and locations, blockchain technology has become more widely adopted in various transactions in a manner that is more secure, private, and accurate.

Blockchain can also be used to improve cybersecurity measures and assert proof of ownership of digital assets like non-fungible tokens (NFTs), whose popularity will continue to accelerate as the metaverse gains more traction.

4. IOT expansion

The internet of things (IoT) was originally envisioned to integrate different devices under a single network, allowing them to do complex tasks while gathering vital information that will enable better decision-making and improvement of services these connected devices will deliver.

While IoT has made its way into more consumer devices than before, from smartphones to wireless earbuds to Roombas, many of these devices are still constrained by operating systems and platforms that do not play well with each other. As such, 2023 is seen as the year when global standards will be developed, allowing more efficient communication between devices which can lead to more accelerated development of applications and programs.

Aside from these trends, businesses should also be on the lookout for new technologies that may arise on the horizon that no one could have anticipated. This is helpful for businesses to be able to stay ahead and on top.


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