Technology trends to keep your eye on in 2023, Part 1

Technology is advancing at an unprecedented pace, and it can be difficult to keep up with the latest tech trends and developments. From AI and machine learning to green technologies, there are several trends that are likely to dominate the tech landscape this year.

In this two-part series, we will explore some of the most exciting and transformative technology trends to keep your eye on in 2023. Read on as we explore these cutting-edge technologies and consider their potential impact on our lives and society as a whole.

AI and Machine Learning

By now, we know that curated interactions, like ChatGPT, are a big deal. With the launch of GPT-4 in early 2023 and, most recently, OpenAI’s support for plugins announcement, it’s clear that the technology is evolving quickly. It’s an exciting time in this space, and it’s brought a lot of interesting topics to the surface regarding the pros and cons, and risks and rewards, of AI and Machine Learning technologies. Text-to-image, and most recently text-to-video, tools are rolling out across the internet and are becoming more and more realistic. While entertaining at this stage, it’s hard to ignore the downsides associated with copyright protections for artists, not to mention the very real possibilities related to algorithmic biases and the spread of misinformation.

From a purely business perspective, hyperautomation and automated workflows are increasingly being implemented by progressive thinkers. They are aiming to automate as many tasks and processes as possible within their organisation, from repetitive and mundane tasks to complex decision-making processes. These tools not only automate tasks and processes but are progressively able to identify new opportunities for optimisation and improvement. A survey by Salesforce predicts that by 2024, 80% of organisations will have integrated hyperautomation on their technology roadmap.

The move from technical jargon to low-code and no-code AI has meant that accessibility to these tools has expanded immensely, and this will continue as people find new ways to use technologies that make their lives better and easier. AI and Machine Learning will continue to be one of the ongoing tech trends for the foreseeable future because of the possibilities, and inevitabilities, that these technologies will have on the effects of our lives, both at work and play.

Immersive Internet

The term “Immersive Internet” refers to an online experience that goes beyond traditional 2D web browsing and provides users with a more interactive experience. It combines virtual and augmented reality technologies, advanced graphics, and haptic feedback to create a more engaging and realistic online experience. The Metaverse is probably the most notable example of the immersive internet, and while it may seem like the buzz has died down, the Metaverse itself certainly isn’t dead.

Virtual reality and augmented reality are pivotal to immersive internet experiences, and large companies like Microsoft and Nvidia are invested in advancing these technologies at a rapid rate. The results of this for business may lead to more immersive online meeting experiences, where companies harness the power of extended reality to perform real-world tasks in online spaces. Accenture already has Nth Floor, offices in the Metaverse that replicate those in the real world, that can be used to carry out tasks like online onboarding for new hires.

The concept of the Immersive Internet has many potential applications, including online education, virtual meetings and events, eCommerce, and even remote healthcare. As virtual and augmented reality technologies continue to advance, we can expect the Immersive Internet to become increasingly sophisticated and widely adopted.

Datafication

With the huge amount of data being generated by digital devices, sensors, and networks, as well as advances in data storage, processing, and analysis technologies, it’s no wonder that datafication has imprinted itself on modern society in recent years. Datafication involves collecting, analysing, and using vast amounts of data to gain insights, make decisions, and create value – like utilising data for real-time tracking, or to build a risk profile for insurers.

Datafication has become increasingly important in many industries, including healthcare, finance, manufacturing, and retail, in recent years. As with any technology, it has its pros and cons, and has been the catalyst for many technology-centred debates. For business, datafication can result in valuable insights into customer behaviour, market trends, and operational efficiency, among other things, and they can use data to make more informed decisions, like introducing personalised marketing strategies, that give them a competitive advantage.

On the other hand, datafication raises several concerns and challenges. One of the most significant concerns is data ownership, privacy and security, as businesses collect and store vast amounts of personal data, sometimes without consent or knowledge, which can be breached or misused. Additionally, datafication can perpetuate biases and discrimination, reflecting pre-existing biases or leading to discriminatory outcomes. It is essential for businesses to address these concerns when implementing datafication strategies, ensuring that they are responsible, ethical, and compliant with legal and regulatory requirements, while maximising the benefits of datafication for their operations, products, and services.

Green Technologies

Green technologies, also known as clean technologies, are technologies that are designed to reduce the negative impact of human activities on the environment. Green technologies can be used in various industries, including energy, transportation, construction, and agriculture. Decarbonisation is one of the most crucial strategies for combating climate change, with carbon emissions being a major contributor to global warming and climate disruption. Businesses and governments will need to transition away from carbon-intensive activities by adopting energy-efficient technologies. Decarbonisation is an industry with huge growth potential as the need increases and life-saving measures are implemented.

A technology showing huge promise is green hydrogen, produced using renewable energy sources such as solar and wind power, and producing close to zero greenhouse gas emissions. Not only is it a clean-burning source of energy, but it can be transported long distances, from those who have it to those who need it.

Borrowing from science fiction, but very much real, nuclear fusion is another green technology to watch, and high on the tech trends. Nuclear fusion is a process in which two atomic nuclei combine to form a heavier nucleus, releasing a large amount of energy in the process. Nuclear fusion is the process that powers the sun and other stars, and is considered a potentially limitless source of clean energy. Although it is a complex process that is currently difficult to achieve in a controlled and sustained manner, scientists and engineers are working to develop and commercialise nuclear fusion technology, with several experimental fusion reactors currently in operation.

As technology continues to evolve, some trends have the potential to transform the way we live and work. It’s essential to stay up to date with the latest advancements, and to think of innovative and exciting ways to interact with these tools, for both business and personal development. Stay tuned for part two, where we will explore more cutting-edge technologies and tech trends that are set to shape the future.

To read part two in this series, where we explore edge and quantum computing, hyperconnectivity, cybersecurity, and blockchain technologies, follow this link.

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