What does 2023 look like ?

As we close out another year, it's time to reflect on the trends that have defined the tech industry in 2022 and look ahead to what's in store for 2023. In this article, I'll be sharing my insights and predictions for the tech trends that will shape the industry in the coming year. These perspectives are based on our client cases, conferences, and conversations with experts in the field.

This year, we've seen companies investing more heavily in technology than ever before, as they strive to enable their employees and deliver better experiences for consumers. In 2023, we can expect to see even more widespread adoption of new technologies and innovative solutions as businesses continue to embrace digital transformation. But which trends should companies be paying attention to in order to stay ahead of the game? Here are my top 10 predictions for 2023.

1- Sustainability Takes Center Stage in Digital Transformation

Businesses that integrate digital and sustainable transformation into their operations and value chains are 2.5 times more likely to be successful in the future than those that do not.

In the coming year, it is expected that sustainability will take center stage as companies accelerate their digital transformation initiatives. While 90% of technology leaders already consider sustainability a key IT objective, few have succeeded in creating truly sustainable digital enterprises. Cloud solutions are likely to gain traction in 2023, allow customers to measure their carbon footprint and offer a range of sustainability features.

As pressure from clients, employees, and investors to address environmental issues continues to grow, businesses will need to prioritize sustainability in order to stay competitive and meet the demands of their stakeholders. By integrating sustainability into their operations and value chains, businesses can not only do their part to address the global climate crisis, but also differentiate themselves in the market and strengthen their brand. In 2023, it is expected that companies will take action to reduce their environmental impact and deliver more sustainable business practices.

2. The rise of creative AI

Over the past year, we've seen a significant rise in the use of creative AI. While AI may be able to assist with certain aspects of the creative process, it's important to consider how far AI should be allowed to go.

In industries like retail and healthcare, creative AI has the potential to revolutionize the customer and patient experience. For example, retailers could use creative AI to send personalized emails with product recommendations, while healthcare providers could use it to create personalized treatment plans based on a patient's medical history and current symptoms.

While the benefits of creative AI are clear – including fast and efficient results – it's important to remember that AI is not yet capable of fully replacing human creativity. In the coming year, we can expect to see the creative AI industry continue to grow and evolve, but it will be important for companies to carefully consider the role of AI in the creative process and ensure that it is being used ethically and responsibly.

By 2025, 30% of marketing content will be generated by AI, from less than 2% in 2022.

3. The Metaverse Takes Over Retail and Fashion

By 2026, it is predicted that 15% of people will spend at least an hour a day in the Metaverse, making it a key trend for retailers and fashion brands to pay attention to in 2023

According to Gartner, the Metaverse – a virtual shared space, created by the convergence of multiple virtual worlds – is only going to continue to grow in popularity. By 2026, it is expected that 15% of people will spend at least an hour a day in the Metaverse.

“The metaverse market is forecasted to surpass $800 billion in 2024.”?

The impact of the Metaverse on the retail, fashion, and luxury industries has already been significant, and the pandemic has only accelerated its adoption. Brands like Dyson who developed a virtual store for their customers to have a hands-on experience of using the product on different types of hair, consumers can have a pre-look at which product is the best for them with a three dimensional virtual experience.?

As the Metaverse continues to grow and evolve, companies will need to adapt quickly and be prepared to leverage its foundational technologies. In 2023, it will be crucial for retailers and fashion brands to pay attention to the Metaverse and be ready to seize future opportunities as they arise.

4. Data Transparency and Trust Take the Forefront

Up to 73% of company data goes unused for analytics.

In a data-driven world, the power of data can provide deep insights for retailers across industries. However, as we continue to advance in machine learning, it becomes increasingly important to prioritize transparency and security.

One trend we can expect to see in 2023 is the rise of cloud data lakes, which offer flexibility, scalability, and cost-efficiency. Companies like Snowflake have made a name for themselves in this space, providing businesses with a modern data lake platform that enables real-time data access and analysis. It's important for businesses to choose the right data workspace in order to ensure data accessibility and convenience for developers and administrators. As data becomes increasingly central to the success of businesses, it will be crucial for them to adopt cloud data lakes and prioritize transparency and trust in order to stay competitive in the market.?

5. Hyper-Personalized Healthcare With Advanced Technology Takes Center Stage

In 2023, the healthcare industry's biggest goal is quickly catching consumer expectations. Hyper-personalized patient experience with the help of technology can bridge the gaps between patient and hospital. With hyper-personalization and advanced computing, healthcare technology can focus on each patient and accompany them step by step. What every medical practitioner should put in mind is to deliver a patient-centered care with the right solution to the right place at the right time.

Quality and secure data are necessary to have a comprehensive view of each patient’s needs and risks. Boosting cloud technology is becoming the new normal for patients and medical practitioners in the healthcare industry. With the help of cloud computing, physicians can leverage remotely-available data; medical practitioners can quickly and efficiently access patients' health records and recent clinical results in a single platform. By adopting cloud solutions, the healthcare industry can finally become more cost-effective and secure, there is more to discover for big data software companies.

6. Acceleration of Unified Commerce

By 2023, Gartner predicts unified commerce strategies will become the foundation of competitive advantage in modern retail.

If omnichannel is the hottest retail topic, in 2023, unified commerce will be the next evolutionary retail strategy. Customers now expect all shopping channels to be unified, the next challenge for retailers will be how to merge your customers to a full transparent real-time ecosystem and provide them a seamless shopping experience.

Technology Modernization constitutes 25% of the top retail enterprises priorities for 2023

Today's consumers' expectations are getting higher than ever before; they want to be engaged and be wowed during their shopping experience; for instance an immersive experience is highly requested. Retailers face several challenges with massive changes in the retail industry and the world around us.?

Today, retail execution is highly dependent on technology. Therefore, companies need to quickly adapt a cutting-edge technology tool that can improve customer experience and store associates' relationships.

In 2023, companies should turn their traditional methods into tech-driven ones. Cloud-based and AI-driven tools will become a new necessity for businesses to level up their retail execution. With the help of these powerful tools, companies can optimize store visit planning and execution and facilitate communication between headquarters and store associates.

CIOs are expected to increase Store Technology Investments from 73% to 80% in 2023

7. Headless Commerce

Headless commerce as a new approach for e-commerce business, it is winning credibility among developers thanks to its low-or no-code technologies. Comparing the traditional e-commerce system, headless commerce decouples the front-end UI(user interface) from the back-end systems, it allows businesses to make changes easily on their website and users no longer need to worry about their back-end systems.

For example, businesses want to adopt new features on their website, in the traditional system they have to go through their platform’s development team and test it, a long process that takes weeks to be done. However, with headless commerce, businesses can integrate product recommendation engines on any platform they use, this movement can be done in a few days or even hours. The concept of headless commerce is increasingly becoming the basic standard for e-commerce business, adopting headless commerce should be your priority in 2023.

8. No Code Revolution

For the past two years, many companies have developed digital applications to maintain their business to survive; today, businesses need their digital solutions to be simple, efficient, and low-cost while ensuring quality and security. It is why in 2023, a low-code or even no-code revolution is coming on the stage. Think about one day you can build an application without code. Visual app development could turn this goal into reality, allowing employees to build apps without a technical background. Empowering “Tech Muggle“ employees with low or no code technology will enable them to be automated, to modify and adapt their work rather than waiting for weeks. Increase business efficiency with automation and solve customers’ problems faster, so business owners can focus on expanding their projects.

By 2025, 75% of large enterprises will use at least four low-code/no-code development tools for both IT application development and citizen development initiatives.

9. BlockChain Technology Facilitating Payments and Social Networking

Blockchain technology is revolutionizing the way we facilitate payments and interact on social networks. It allows for decentralized and secure record keeping across multiple computers, ensuring transparency and robust security. This technology has the potential to transform the way we do business by enabling faster, more secure, and cost-effective transactions.

According to research, the global market for blockchain technology is expected to surpass $10 billion by 2028, with a compound annual growth rate of more than 62%. This rapid growth is being driven by increasing adoption among both large and small companies, who are taking advantage of its benefits including limitless innovation across geographic boundaries, accelerated and real-time transactions without intermediaries, and enhanced customer experience.

In 2023, blockchain technology is also expected to play a significant role in solving social networking issues such as scandals, data control, and privacy violations. It can prevent data traceability and duplication even after a user has deleted their details, giving content creators more control over their content relevance and boosting security. Major companies such as Walmart and Unilever have already implemented blockchain projects, and it is estimated that the number of blockchain users will reach over 25 million by 2023.

Overall, the adoption of blockchain technology is expected to bring significant benefits to businesses and individuals alike, including reduced transaction costs of up to 50% and increased efficiency of up to 90%.

10. A new wave of customer loyalty: subscription programs.

In 2022, we witnessed a significant boost in e-commerce brands adopting data-driven marketing practices. Subscription-based loyalty programs is a reward system that requires customers to pay a one-time small fee to enroll in a membership program.

Members of paid loyalty programs are 60% more likely to spend more on the brand after subscribing

Take Sephora as an example; they offer customers a beauty box, a monthly subscription program that gathers a curation of beauty product samples and makeup inspirations, allowing customers to try out each product before buying it. This loyalty program will enable retailers to keep regular contact with their customers, collect quality data, boost sales and provide customers with a seamless, positive experience.

It will be a win-win situation for both customers and brands. The loyalty program ecosystem will evolve continuously; it will help brands collect as many customers' data as possible and offer consumers long-term benefits.

As we enter 2023, it's clear that the tech industry is on the cusp of major changes and disruptions. From the rise of creative AI and the Metaverse, to the increasing importance of sustainability in digital transformation, there are many trends that businesses will need to pay attention to in order to stay competitive and successful in the coming year. However, despite the challenges and uncertainties that lie ahead, I remain optimistic about the future of tech. There are so many incredible opportunities on the horizon, and I can't wait to see what the next year brings. Will we see the Metaverse become a major player in retail and fashion? Will creative AI truly revolutionize industries like healthcare and retail? Only time will tell, but one thing is certain: the tech industry is never stagnant, and 2023 is sure to bring even more exciting developments and innovations.