As 2022 ends and we gear ourselves for a new and more advanced year ahead. In terms of the tech field, it is safe to say we can expect all sorts of new developments but more important advancements in the existing fields. Here are the emerging tech trends for 2023:
Artificial Intelligence (AI) and Machine Learning (ML)
AI and ML, in this industry, have constantly evolved over the last few years but 2023 is set to see huge advancements in it. AI and ML are going to be significant trends in 2023 with these technologies being used in a wide range of industries. A few examples:
Agriculture – AI and ML solutions are used for a variety of functions such as crop monitoring to analyze images of crops to identify the health and growth of crops, allowing farmers to identify early signs of diseases and pests. Likewise, AI and ML can be used to analyze weather data allowing farmers to plan their yield based on weather predictions such as storms or droughts.
AI has many functions and recently it has appeared as an AI-driven automation website.
AI is being used in websites in order to provide users with the best experience. One way in which this is done is through robotic process automation. This process uses AI through software robots, or bots to complete tasks. Some of the benefits organizations have are the increase in efficiency and reliability as the data collected automatically changes itself to serve each client.
Internet of Things (IoT) and 5G Networks
IoT highlights the increasing network of internet-connected devices with the ability to collect, store and share data and is set to be an industry tech trend in the future. By 2023, the number of connected devices is expected to continue to grow in large numbers, giving businesses the opportunity to improve efficiency and accuracy in data collection and management.
5G, short for ‘fifth generation’ is set to be the next generation of mobile networks that aim to bring users faster speeds, lower latency, and improved reliability. 5G is expected to play a key role in the growth of IoT connected devices due to the many benefits such as improved speed, lower latency and more.
NFCs (near-field communication) have also achieved new heights with the advancement of 5G technology. Allowing two or more devices to communicate with each other using wireless technology. NFCs have made their way into our daily lives through contactless payments, ticket redemption, authentication access, and many more.
Blockchain has been a growing trend since its introduction as the underlying technology for the digital currency, bitcoin in 2008. Likewise, it is extremely likely that blockchain technology will be a growing trend across industries such as finance, supply chain, healthcare, security and more.
Traditionally, blockchain technology can be used in the finance sector which aids banks and helps customers complete online payments and many more
3 ways blockchain technology, a future tech trend is being used?
- Banks – As the first application of blockchain technology, digital currencies like Bitcoin and Ethereum as some of the main examples in the digital financial market that adopt and apply blockchain technology to be used for transactions and store value.
- Digital Asset Management (DAM) – DAM gives organizations the ability to store, organize, find, retrieve, and share digital content from a single location. With blockchain technology tamper-proof records can be created along with safe and secure transactions of digital assets such as stocks, bonds and other securities.
- Cross-border Payments – Cross border payments refers to payments across countries and is vital to individuals, businesses, merchants, industries an international development organization to function. By adopting emerging technologies such as blockchain cross border payments can take place much more swiftly and with increase speed and transparency since the need for intermediaries is not needed.
This technology has already made its way into the daily lives of several people however, more, and possibly better technology can be expected to enter within the course of the year. It is likely to increase security and improve efficiency.
Quantum computing which is a technology that is known for solving problems that prove to be too complicated for traditional computers. Since its beginning, nearly three decades ago it is safe to say the technology has constantly developed and what we see today is just a small segment of its full potential. This technology has already been used to solve engineering problems however, due to its ability to solve and sort through large quantities of data efficiently we can expect to see doctors and pharmaceutical companies adopting it. Many illnesses and diseases can be understood and similarly a medication or treatment can be made before hand by solving the areas in which the problem is taking place. The most fascinating aspect is its ability to not make a mistake and leave out possible alternative answers. If a human was to hypothetically, do the same it may take years or decades before we arrive at an answer however, the computer quickly finds the problem and creates a solution. This is just one example of what quantum computing can do in one industry. Such technology could be beneficial in other industries and sectors too.
The world is constantly making changes and trying to be sustainable. The cooperate sector is a huge part of this change and likewise, organizations have moved towards involving more sustainable actions. Mining companies can blend crypto and sustainability together by using renewable energy such as solar energy, wind energy and hydro power. Moreover, blockchains can assist in moving towards sustainability by helping to track from start to finish and is therefore, transparent allowing to see the areas in which there is wastage and then changing it accordingly to become more sustainable.
In conclusion, it is hard to say for sure what new technology will emerge during the year however, we can keep a look out for developments in the above industries and get excited about the ways in which we can adopt them into our lives. Moreover, we can gear up to see some unexpected developments too that we may not have heard of before or didn’t expect. Either way, 2023 is sure to set new trends.