Technology sector outlook and trends in 2023
Everyday, new technology is developed to make life easier, more advanced, and convenient for everyone. As we have just entered into the new year, our thoughts are turning to what 2023 may hold. The world has now recovered from the Covid-19 pandemic, and technological advances are gradually gaining much-needed traction. The tech world is constantly evolving, and new breakthroughs are always exciting and fascinating. Tech companies work on technologies that have the potential to make a huge difference in our daily lives.
By 2030, 50 billion connected devices will be in use worldwide, resulting in smart networks both inside and outside the home. Keeping an eye on new technologies helps companies in streamlining their research and development (R&D) efforts, lowering costs, improving customer experiences, growing revenues, and making informed crucial business decisions.
The technologies trends outlined below will evolve in 2023 and into the next years; however, there are a few technologies, such as AI-enabled cyber security, 5G, Metaverse, and Blockchain, that have been making waves since 2021 and will continue to do so.
Here are the top 4 emerging technology trends that we predict will impact major industries in 2023 and beyond:
Super apps take over mobile
A super app is a single app that provides multiple services, often handled by the same company’s payment system, eliminating the need for customers to download various apps for different services. Each service provided by the super app can be viewed as a mini app. Around the world, the number of active users of these super apps is constantly expanding – 72% of worldwide customers are interested in a super app.
They’re used not only in mobile apps but also in desktop programs like Microsoft Teams and Slack. Elon Musk recently stated his intention to turn Twitter into a super app, sparking interest in this technology.
Super apps that focus on carbon are also gaining popularity. These apps analyze banking data and link each transaction with a specific industry. So, multiplying the number of banking transactions by the emission factor gives the monthly carbon footprint. Some of these carbon central apps, such as Earthchain may have mini apps. Given how savings and investments are soon to be linked to ESG, this functionality might be incorporated into any investing app, and not just a banking app. This implies that there must be a standardized method for financing sustainability.
Why businesses are entering the Super app ecosystem
Big companies want to simplify the way things are done now by combining multiple services into one strong, immersive, and engaging foothold in the m-commerce industry. So, they want to be a real part of the Super apps ecosystem. Super apps are generating a lot of attention in the most upscale sectors, like e-commerce, entertainment, trading, and transportation. The popularity of these apps is changing how business is done.
They offer homogeneous market space and make technology available to everyone, regardless of gender, age, or technical expertise.
Read More: How to conduct a technology assessment: Key data sources and steps for analysis
Need for hyper-automation
Advancements in technologies until 2023 have opened new gateways for automation. Hyper-automation is a collection of several automation tools and process optimization tools including Artificial Intelligence (AI), Machine Learning (ML), Natural Language Processing (NLP), Process Mining, etc. that integrate and take automation to a whole new level.
Why hyper-automation is gaining more attention
- Cost reduction – Hyper automation creates an environment in which people, processes, and technology all work together to achieve cost-effective output.
- Customer satisfaction – It’s helping provide personalized experiences to customers through AI-enabled chatbots and efficiently resolving customer queries.
- Continuous innovation – Business processes can be improved and developed, and reliance on a single technology can be avoided.
Here are the top 7 hyper-automation use cases across different industries in 2022:
The emergence of platform engineering
The software development lifecycle is highly complicated, including multiple organizations that must collaborate to produce high-quality deliverables for their clients. Software development automation is essential for gaining a competitive edge in the rapid growth of the software development industry. Platform engineering acts as a bridge between developers (engineering) and infrastructure (operations), ensuring that the software development lifecycle runs without interruptions.
Why organizations are adopting platform engineering frameworks in their structure
By developing specific workflows throughout the software development lifecycle, platform engineering streamlines software delivery and reduces software delivery issues. It is the greatest and most successful tool for enhancing productivity and optimizing resources, as it provides visibility across all organizational levels and reinforces best practices.
Digital immune system: key to cloud security
Organizations now face several unique problems in creating resilient and secure operating environments. A digital immune system provides enterprises with a strategic edge for safeguarding critical software and controlling system failures that can have a significant impact on business. As the amount of data in the cloud grows, so do issues of securing data in the cloud. Google and Hitachi have already joined the cyber defense business with the goal of detecting and neutralizing threats.
Key components of a good digital immune system
Like our own immune system, the digital immune system is adaptive and always changing in relation to threats of varying severity.
With the passage of time, it is critical to stay on the ball with technological advances. In today’s highly digitized environment, understanding recent developments provide a competitive advantage. Unleashing these new technologies can not only yield significant information but also establish specific benchmarks to stay ahead of the competition.
To know more about how Netscribes can help you, in this journey, contact us today. For detailed technology research and analysis of the latest innovations that could impact your business in 2023, write to us at info@netscribes.com.
Based on insights from Urvashi Sethi, Manager, R&I TMT.
