The year 2023 is set to be revolutionary for technology, with many disruptive trends expected to reshape how businesses function and how people interact with each other. From metaverse-based virtual workspaces, advancements in quantum computing and green energy sources to innovations in robots and satellite connectivity – here’s a look at the technological trends that could define the coming year.
According to BCG’s “Mind the Tech Gap” survey, a majority of businesses across 13 countries plan to increase their spending on digital transformation in 2023 vs. 2022. The top two areas for future investments are business model transformation and sustainability, with respondents expressing concern over the uncertain return on investment from digital transformation initiatives. Furthermore, Sylvain Duranton , a Senior Partner & Managing Director at Boston Consulting Group, Global Leader of BCG X states that “Despite economic headwinds, 60% of BCG’s recently surveyed companies plan to increase their investments in digital and AI in 2023. But many of those surveyed simultaneously expressed concern over the uncertainty of the ROI from digital transformation. During covid, we saw companies that used advanced digital technologies and AI outperform their counterparts. But the big challenge is for those companies that are trying, but the failing survey revealed that about 70% of digital transformations fail to achieve their objectives.”
This means that companies that use AI and advanced digital technologies such as metaverse-based virtual workspaces, quantum computing, green energy sources, robots and satellite connectivity will find themselves in a strong position to leverage the opportunities presented by the changing technological landscape. Such investments in technology can help organizations gain an edge over their competitors and emerge from the current downturn stronger and more resilient. With this in mind, let’s dive into some key trends to watch out for in 2023.
For starters, Generative AI – or AI that can learn, synthesize and produce content – is set to take off. From self-driving cars that can drive themselves to natural language processing and machine learning algorithms that can understand and process human speech – Generative AI will revolutionize how people interact with technology. ChatGPT is a great example of this, as it offers an intelligent chatbot system equipped with advanced capabilities such as context retention, natural language understanding and probabilistic outcomes. ChatGPT is already used by over 1 million people, who rely on it to answer questions accurately, engage in profound conversations, compose stories and poems, write computer code and more! Its intuitive interface allows users to access a bunch of diverse functionalities with ease. Generative AI also brings with it the potential to create more personalized experiences dynamically, allowing companies to tailor their offerings based on customer preferences and behavior.
Other key trends include the concept of digital nomads in a Hyper-Connected World and the idea of the digital immune system. Remote work is becoming mainstream, with many people having a better work-life balance and being more productive due to the lack of location dependence. According to Upwork, 36.2 million Americans will work remotely by 2025, double the amount from pre-pandemic times (16.8 million). In addition, Nomad List predicts that by 2035, one billion people will be working remotely.
The trend towards a hyper-connected world is driving the development of intelligent drones and other technologies, such as IoT devices. According to Statista, there will be approximately 20 billion IoT devices worldwide in 2023, ballooning to 31 billion by 2025. Companies are investing in sensors, IoT devices and tools that can prepare, analyze and visualize the massive amounts of data collected. This is driving collaborations in healthcare, telecommunications, manufacturing, agriculture and automotive.
The metaverse is also gaining traction as companies use software like akaVerse to set up virtual workspaces and retail locations. Gartner states that by 2027 fully virtual workspaces will account for 30% of the investment growth by enterprises in metaverse technologies. Finally, businesses look to digital immune systems for improved security and resilience in their business-critical systems. This uses various techniques such as AI-augmented testing and software supply chain security to protect from cyber threats.
Another key trend is Quantum Computing. Recent survey by Classiq, which reveals that 92% of those surveyed said that quantum computing is important to U.S. national security. 86% also mentioned that the U.S. should aim to be the world leader in quantum computing. Quantum computers are expected to achieve a 60-second coherence time by 2025, a huge leap from the current record of 30 minutes. These computers use subatomic particles to create new ways of processing and storing information, a technological leap that could bring us computers capable of operating a trillion times more quickly than the fastest traditional processors available today. This has driven the development of new algorithms and programming languages to harness this power. However, it could also be a double-edged sword as any nation that develops quantum computing at scale could break the encryption of other countries, businesses, security systems, and more. Businesses must take precautions to ensure they are not vulnerable in this regard.
In addition to quantum computing, silicon chip rebalancing is a key trend in the technology industry. This comes in response to the global semiconductor shortage, which has caused many companies to struggle and left some countries vulnerable due to their dependence on the Taiwan Semiconductor Manufacturing Company (TSMC) for chips. To address this problem, governments and businesses worldwide have been attempting to rebalance the geographic diversity of chip production, with countries such as Japan, South Korea, Vietnam and China all looking to increase their capacity.
Satellite connectivity is another area of significant growth. In 2025, satellite broadband provider Starlink will be spun off from SpaceX as a publicly listed company. By then, and will enable low-latency coverage in underserved areas worldwide. In addition, telecom operators are looking to offer connected car services as an add-on to consumer 5G plans. By 2025 at least 25 operators are expected to do so, helping to accelerate the deployment of connected vehicles and further reduce road congestion.
Arguably the biggest trend in the energy sector is green energy. This includes green hydrogen, a new clean-burning energy source that produces close to zero greenhouse gas emissions. It has shown promise in transportation and other industrial processes, with governments worldwide investing heavily in the technology. Another key trend is fusion energy, a clean energy source that could transform the world if it is successfully developed. Scientists at the Livermore National Laboratory’s National Ignition Facility have already made fundamental advances towards commercial fusion energy, and if successful, this could mean that small amounts of fuel produce no greenhouse gasses.
The age of robots is upon us, and the global robotics market is projected to reach $215 billion by 2030. Japan is leading the way, with 631 robots for every 10,000 humans in its workforce. In addition, Japan is the world’s largest manufacturer and exporter of humanoid robots. This rapidly evolving industry is helping to shape the future of our economy and could eventually transform entire businesses, from warehouse robots employed by Amazon to robotic arms used in manufacturing.
Industrial robots are used in many industries, from automotive manufacturing to food production, making it easier and more cost-effective cost-effective for businesses to produce products. Additionally, insect robots are being developed that can be equipped with sensors or cameras to explore hazardous areas while keeping people out of harm’s way. In the past few years, humanoid robots have become more commonplace. These robots are designed to mimic human behavior and movement. They can already perform simple tasks such as lifting items or watering plants. It is believed that in the near future, they could be used for various other functions, including greeters, bartenders, concierges and companions for older adults.
Service robots are also becoming increasingly popular. These robots provide a wide range of services, such as cleaning, security surveillance, delivery and even medical assistance. In the medical field, robots are being used to assist doctors in performing operations or providing diagnoses. Logistics robots are quickly being adopted in warehouses and transportation hubs to quickly and safely move goods from one place to another.
A prime example of this is Elon Musk’s Optimus humanoid robot prototypes, which have the capability to carry out basic tasks like lifting heavy objects and watering plants. Lastly, Co-bots (or collaborative robots) are being developed to work side-by-side with human operators, sharing the same space and completing tasks collaboratively. These new technologies are revolutionizing the way we live and work and will continue to do so for years to come.
The Way Forward in 2023
As the world continues to digitalize , these emerging technologies will become ever more prominent. Government and private sector organizations must invest in research and development to ensure that they can take advantage of the opportunities presented by 5G, green energy, robotics, and other new technologies.
Additionally, businesses should embrace collaboration with tech companies and other stakeholders to develop strategies for the deployment of new technologies in their industry. This will enable them to gain a competitive edge and remain ahead of the curve.
Looking ahead, 2023 could be an important year for technological advancements. Companies that proactively invest in technology, including robotics and green energy, could reap great rewards. Organizations should also prioritize the development of an ethical code of conduct to ensure that these technologies are used responsibly and for the benefit of society. Ultimately, by investing in and embracing technology, we can create a brighter future by investing in and embracing technology.