2023 Technology Trends That Can Impact Your Business
With each passing day, the speed at which transformations occur can be alarming, and technology is at the centre of these transformations. Technology is ever-present in businesses, yet its developments, advancements, and upgrades are still dynamic.
As the end of 2022 approaches, experts are already predicting that by 2023, various tech trends will dominate and impact the business landscape.
According to a forecast from Gartner, Inc., the spending on tech products and services in Australia is expected to grow by an increase of 6.5% in 2022. Gartner also highlights the need for businesses to embrace composability to thrive through disruption. Since then, Australia’s IT spending has continued to show the strongest growth, and it is expected that in 2023, the spending is not going to decline. The investment in 2022 tech trends has brought about the growth that has driven business productivity, and this won’t slow down in 2023.
Therefore, in 2023, many businesses will invest in proven tech trends and digital solutions for a risk-averse and new approach to business operations and opportunities.
Here are some 2023 tech trends that will impact your business growth and productivity over the next 12 months.
Tech Emerging Trends to Look Out for in the Year 2023
In 2023, your business will certainly have to re-evaluate its progress and invest in various tech trends for future success.
Here are eight technology trends that will govern and impact businesses in 2023.
1. The Metaverse
Metaverse defines the combination of digital and real-life activities. The metaverse is a live digital universe that gives people a sense of social presence and interaction, shared awareness, entertainment, and purchasing power. It is a whole-new virtual universe that will be able to accommodate work, socialising, shopping, and more.
The metaverse opens up a new platform for businesses to explore and will be one of the biggest advertising and marketing tools ever known. You will be able to hold meetings, conduct business transactions, and so many business operations. With the help of the avatar technology that will be used in this space, it will not feel much different from reality. The metaverse is bound to have a significant impact on businesses and their customers.
2. Blockchain Technology
Blockchain has been around for some time, and it has gained profound importance over this period. Blockchain is a decentralised and digitised public ledger used to record transactions. Blockchain is now more than just an associate of cryptocurrency. According to research, the amount spent on Blockchain technology will reach $19 billion US by 2024. Therefore, in 2023, Blockchain will boom, owing to the importance and increase in the metaverse.
The Blockchain will serve as a secure and structured way to keep track of business transactions across devices. In the coming year, Blockchain will change the aspect of how you do business and impact your accounting, making it more secure and transparent.
3. Increased Digital Transformation
A new wave of innovations and developments in digital transformations, such as more accessible AI, VR/AR, enhanced IoT, Blockchain, cloud computing, and more sustainable technology, will be seen in 2023. What’s more, if your business moves with this tech trend, it is opened up to better marketing strategies and productivity. You will also be able to adopt more efficient technologies that will enhance and strengthen your hybrid or remote working platform.
4. Artificial Intelligence Everywhere
Although artificial intelligence has played a part in many business operations, AI will become more real to businesses in the coming year. It will be essential to your business’s operations, customer service, profits, efficiency gains, and more. Beyond business operations, AI will also be an essential part of the fight against cybercriminals, thanks to its ability to predict behaviours and detect patterns. Also, you will be able to create more intelligent products/services.
5. Cloud computing technology
Cloud computing isn’t a new technology; in fact, it has been a staple in the shift to remote and hybrid work over the years. However, cloud computing is expected to see new advances and security, and more and more companies will shift a large part of their data and business to the cloud. With this tech trend, your business will continue to adopt cybersecurity, third-party outsourcing opportunities, and more remote operations.
6. Sustainable technology
According to Forbes, sustainability will become vital in new technology investments. Although it has been an issue, the act of being sustainable has become every business’s priority.
7. Internet of Things (IoT)
This technology trend seems never to end. Instead, it keeps evolving and has already proven to be extremely versatile. The internet of things has helped businesses in various industries increase their efficiency and productivity over the years. In 2023, IoT is expected to play an even bigger role in business as the majority of business operations will be linked to the internet, such as the metaverse,
8. Zero-trust cybersecurity
Businesses, especially SMEs, are the preferred and easiest targets of cybercriminals and hackers to steal from. According to a result, small businesses 3x more likely to experience a cyber-attack. As a result, many businesses, both big and small, are realising that they need to take cybersecurity more seriously. Zero-trust is an approach to cybersecurity with the notion of “never trusting, always verifying.” Your business should adopt the zero-trust policy to keep malware, virus, and ransomware out and stay atop cyber-attacks.
Are You Getting Your Business Ready for 2023?
2023 will undoubtedly be the year for technological advancements, and these will bring many defining elements.
At GKM2 Solutions, we offer technical services to a broad range of businesses. We serve all business sectors through our trained and certified team.
Contact us to learn more about the tech trends that will impact your business and ensure you’re leveraging them. Call +61 2 9161 7171 or connect with us online.