Top 5 Technology Trends for 2023

Technology advances at an accelerated pace right now, allowing for greater innovation and progression. What does this have to do with you? It entails keeping up with evolving technologies and the most recent technological trends. So, what can we look forward to??

?Here are the top 5? upcoming technological trends to keep an eye on and try in 2023.

??Datafication

Datafication refers to the conversion of all the devices and software we use in our daily lives into data-driven gadgets. Data has become an indispensable part of our lives and is present everywhere, from our smartphones and workplace applications to AI-enabled devices and beyond. As a result, there is a growing demand for specialists who can ensure the proper storage, security, and safety of our data in today's economy.

??Artificial Intelligence and Machine Learning

Artificial Intelligence (AI) has been a topic of considerable interest over the past decade, and its impact on our lifestyles, work, and leisure activities is still in its nascent stages. AI has already demonstrated its superiority in various areas, such as image and speech recognition, navigation applications, personal assistants on smartphones, ride-sharing platforms, and more.

In addition, AI is poised to play an even more significant role in the future by analysing interactions to uncover underlying connections and insights and predict demand for services. The global spending on cognitive and AI systems is projected to exceed $57 billion in 2023, and the AI market is expected to grow into a $190 billion industry by 2025. The rising popularity of Machine Learning, a subset of AI, has also led to significant demand for skilled professionals across various industries.

??3D Printing

3D printing, which is employed to create prototypes, is an important trend in technological advancement and innovation. This technique has had a significant impact on the medical and manufacturing industries. We never imagined printing an actual product from a printer, but it is now a reality. As a result, 3D printing is yet another breakthrough that is here to stay. Various occupations pay highly and are international for organisations in the data and medical industries that demand a lot of 3D-printed parts for their products.?

??Robotic Process Automation (RPA)

Robotic Process Automation (RPA) is a technology that automates business processes, including tasks such as interpreting applications, processing transactions, dealing with data, and responding to emails, by using the software. With RPA, monotonous tasks that were once performed by humans can now be automated. While Forrester Research predicts that RPA automation may endanger the employment of over 230 million knowledge workers, which amounts to roughly 9% of the global workforce, it is also creating new job opportunities and changing the nature of existing jobs.

??Blockchain and (IoT)

Blockchain technology is commonly associated with cryptocurrencies like Bitcoin, but it has many other uses due to its strong security features. Essentially, blockchain is a chain of data that can only be added to, not altered or deleted, making it highly secure. The decentralised nature of blockchain means that no one entity has control over the data, and transactions can be validated without the need for a trusted third party.

Another technological development that has gained momentum is the Internet of Things (IoT). With more and more devices being built with WiFi connectivity, they can now connect to each other and the internet. This has led to improved efficiency, safety, and decision-making for both consumers and businesses. For instance, IoT devices can be used to remotely control home appliances and even track fitness progress. On the business side, IoT can provide predictive maintenance, faster medical care, and improved customer service.

The potential for IoT is immense, and experts predict that by 2030, over 50 billion IoT devices will be in use worldwide, spanning everything from smartphones to kitchen appliances. This growth is expected to drive global spending on IoT to reach 1.1 trillion U.S. dollars in 2023. Technologies like 5G are also expected to further boost the market growth in the coming years.

Author: Hamza Nizamuddin