Major Tech Trends to Look Out For in 2023
Enov8 Solutions
We keep your organization safe by providing you with the best Cybersecurity solutions.
In this blog post, we highlighted 7 major tech trends you must look out for in 2023 and how each one will benefit your business if you jump on it now.
Predicting what technology trends will dominate the year 2023 might be a difficult task. Especially with the new inventions that we are already seeing around us.
Enov8 Solutions, as a technology company, monitors technology trends that we believe will have a significant impact on society, industries, customers, and the environment.
Technology is constantly evolving. Since the beginning of the year, there have been interesting developments that have taken the world by storm.
As a technology company, we picked seven major trends that will have a significant impact in 2023.
The first on our list is AI. Did you say obviously?
Yes, it is.?
AI or artificial intelligence, has gained popularity over the past decade. It is a trend that will continue to be among the leading technologies in 2023.
Considering how widely it has been adopted since the beginning of the year coupled with new innovations in this space, AI is likely to remain among the leading technologies throughout 2023.
Several AI applications are popular today, including image recognition, speech recognition, navigation programs, and voice assistants.
Businesses are already leveraging AI to analyze customer and business interactions to gain insights and pinpoint triggers. With this, they will be able to allocate resources to diverse initiatives better and forecast demand for services like hospitals or tourism.
Edge AI is increasingly being used in intelligent machines and autonomous robots, which is often considered an unattainable use case. These intelligent machines are becoming more common, from automated distribution facilities for same-day deliveries, robots monitoring grocery stores for spills and stockouts, to robot arms working alongside humans on production lines.
WHY AI (Artificial intelligence)?
FOR BUSINESSES
FOR INDIVIDUALS
2. 5G
5G technology is poised to change how we view the online world. With 3G and 4G technology, we are able to access the internet faster, use data-driven services, and stream live video easily.
Benefits of a 5G Network:
5G will allow us to conduct virtual interactions in a whole new way because we will be able to incorporate AR and VR technology and have better cloud-based gaming experiences.?
A worldwide effort is underway by telecom companies to create 5G-ready devices and services. There has been a delay in the launch of 5G, but it is set to reach the world quickly and become a part of everyone’s lives just as we look forward to 6G.
3. BLOCKCHAIN
Blockchain is the third item on our list.
Blockchain gained notoriety in relation to cryptocurrencies like Bitcoin and the security it offers. However, it also provides security, which has a number of other uses. Blockchains are consensus-driven, no one person or entity can control the data.?
However, the need for knowledgeable blockchain developers has grown as more businesses adopt and use them. It calls for practical familiarity with programming languages, a working understanding of OOPS, databases (both flat and relational), data structures, networking, and web application development.
Benefits of Blockchain for businesses
a. Innovation
In order to solve complex problems and improve long-standing inefficient practices, executives from a wide range of industries are examining and implementing blockchain-based systems. One example of such innovation is the use of blockchain to verify resume information.
b. Transparent Payment processes
Blockchain has increased cash flow for startups and establishments because it eliminates third parties, brings transparency, and generates billing declarations and invoices in real-time.
c. Improved Security and Privacy
Among the benefits of blockchain technology is its increased security, its end-to-end encryption creates an immutable record of transactions, which prevents fraud.
d. Reduced costs
Blockchain technology helps organizations save money by reducing manual tasks like data collection and editing, as well as auditing and reporting.
e. Efficiency and speed
Blockchain technology eliminates all forms of human-made errors through automation.?
IoT is one of the ten years’ most promising technologies. The ability to link to the internet is present in many modern “things” and devices.?
A network of various linked gadgets is known as the Internet of Things. Without human intervention, devices in the network can exchange messages, gather data, and transfer it from one device to another.
There are countless real-world Internet of Things (IoT) uses, such as employing smart gadgets that connect to your phone to track activities or monitor home doors from a distance.?
Businesses utilize IoT for a variety of purposes, including forecasting when a gadget will break down so that preventative steps can be taken before it is too late and monitoring activities in distant areas from a central hub.
The Internet of Things is expected to connect more than 50 billion devices by the year 2030. The next two years will see an estimated $1.1 trillion spent globally on this newest technology. IoT is in its early phases, but it will pick up speed soon.
Benefits of IoT
5. Cybersecurity?
With new technologies comes the need to protect the users, systems, and the technologies themselves.
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Since the invention of computers, cybersecurity has significantly contributed to a safer user experience. Although it is not a new trend, cybersecurity measures must be continuously enhanced and improved because technology is developing rapidly.
Threats and hacking attempts are increasing in quantity and ferocity, necessitating the upgrading of security mechanisms and defenses against harmful attacks.
Businesses can no longer rely on simple solutions like anti-virus software to shield themselves from cyber threats.
Attackers are becoming smarter at evading simple defenses. To develop a cyber security strategy that can offer a multilayered level of protection, businesses should partner with a cybersecurity company?.
Today, the need for cybersecurity experts is increasing three times more quickly than the demand for any other computer job because hackers continuously attempt to steal data- the most valuable asset of every organization.
Why cybersecurity is important for your business.
a. Enhances productivity
Viruses may have an adverse effect on networks, operations, and workflows, which lowers productivity. This causes such organization to experience downtime, which can bring operations to halt.
One of the most potential cybersecurity benefits is the ability to increase productivity for businesses through virus scanning, enhanced firewalls, and automatic backups.
b. Trust and credibility
Increasing audiences’ confidence and credibility is one important benefit of cyber security. When a company has a track record of safeguarding client and corporate information, its customer base will grow.
c. Protection against threats
The motivations for cyberattacks are as diverse as the attackers themselves. Whether they are industrial spies, hacktivists, or cybercriminals, these bad actors all have one thing in common to find a way to damage/ steal valuable information.
d. Builds customer trust
Customer retention is one of the most crucial elements in business. A company that embraces cybersecurity is able to protect its customers’ data and information.
This also opens possibilities for potential future partnerships and patronage from partners and customers.
e. Prevents revenue loss
Security breaches can devastate even the most resilient of organizations hence the need to embrace cybersecurity today.
6. Datafication
We are undergoing datafication when we use data to transform various aspects of our lives into software and technological tools. This is the process by which data-driven technology replaces manual labor. Data is used by smartphones, business software, industrial equipment, and even artificial intelligence (AI) gadgets to interact with us and enhance our quality of life.
Data security specializations are becoming more in demand around the world as a result of the need for security when storing data.
Benefits of datafication to businesses
a. Better customer insights
Businesses can gain insightful knowledge about customer behavior and preferences through datafication. Businesses will be able to develop better products and services that can satisfy customer needs when they understand the wants, preferences, and pain points of their customers through the analysis of customer data.
b. Predictive analytics
Businesses can utilize predictive analytics to foresee future trends and make better decisions thanks to datafication.?
Organizations will be able to predict things like sales trends, consumer behavior, and market trends by studying historical data and employing machine learning algorithms. They can utilize this information to guide their decision-making process.
c. Improved decision accuracy
Improved decision accuracy is one of datafication’s key benefits. Companies can make data-driven decisions based on insights that aided their decision-making process with access to real-time data and powerful analytics tools.
7. Robotic Process Automation (RPA)
To automate commercial operations including data collection and analysis, customer support, and other repetitive tasks formerly performed by human processes, robotic process automation (RPA) uses a variety of software and apps to perform these tasks.
RPA is a quickly developing technology that automates several jobs in numerous industries, much like AI and Machine Learning.
According to Fortune Business insights, the global robotic process automation market size was valued at USD 10.01 billion in 2022. The market is projected to grow from USD 13.86 billion in 2023 to USD 50.50 billion in 2030 exhibiting a CAGR of 20.3% during the forecast period.
Numerous new career paths and opportunities are provided by RPA, including those of a programmer, project manager, business analyst, or consultant. Additionally, it is opening up opportunities for high-paying careers at prestigious companies with a low learning curve.
RPA is now being used by over 78% of businesses around the world, and another 16% are planning to implement it within the next three years.
Some benefits of RPA to businesses include cost effectiveness, accuracy, productivity, reduced staffing headaches, etc. Some of them are highlighted below-
Benefits of RPA for businesses
a. It is cost-effective
According to estimates, utilizing robotics can reduce operational costs by up to 25–50%. In contrast to humans, who work 8 to 5 and have a certain number of yearly vacation days each year, robots can run nonstop.
b. Accuracy & Quality
Robots are dependable, and consistent, and do not complain when asked to work nonstop. They also increase the output quality and decrease the instances of reworks.
c. Customer satisfaction
By removing paperwork and tabulations from your customer service staff’s workload, you are allowing them more time to provide thoughtful customer support. As a result, customers have a better overall experience.
Conclusion
The year 2023 is shaping up to be an interesting one for technology, with a variety of discoveries and breakthroughs that will impact society for years to come. Just as technology continues to evolve, we anticipate an increase in the amount of fresh and cutting-edge solutions.
However, with these inventions comes the need to be cybersecurity conscious. It is expedient for businesses, governments, and individuals to collaborate in order to ensure that these new technologies are handled responsibly and ethically.
Which one of these technologies are you excited about?
About Us
Enov8 Solutions delivers a set of world-class cybersecurity products and services. We help small and medium-scale enterprises gain insights into large volumes of data for rapid decision-making while also providing solutions to monitor and protect critical network and data assets through specialized techniques.
Visit enov8solutions.tech to learn more about our services.