Top 10 Tech Trends In 2023

As we traverse the digital landscape of 2023, technological advancements continue to shape the way we live, work, and interact. It was an existing year in the tech space. New trends came, old were enhanced.

Let’s take a moment and review some of the most emerging trends. 

1. RPA (Robotic Process Automation)

RPA transforms business operations by handling repetitive tasks, standardized jobs, data management, and even email responses. Similar to humans, RPA robots can comprehend on-screen information, navigate systems, execute precise keystrokes, extract data, and carry out a range of predefined actions. This leads to enhanced data collection, reduced workloads, improved business outcomes, faster services, and more.

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UiPath was recogniSed as a leader in RPA with the highest rating in categories such as strategy and RPA market presence in the Forrester Wave™ report for Q1 2023. ServiceNow is complementing current RPA features with the broader set of automation tools. Therefore, it becomes a valid choice among automation leaders.

Industry experts have made several predictions for RPA and intelligent automation in the workplace in 2023. Among them are the merger of RPA with artificial intelligence (AI), the continued growth of RPA as an invaluable tool for digital transformation, and integration with technologies such as AI and machine learning.

2. Metaverse

The metaverse, a virtual world enabling digital interactions, has gained traction with advancements in technology. Tech giants like Facebook, Google, and Microsoft heavily invest in metaverse development, resulting in devices like Oculus Quest and HoloLens. Predictions suggest the metaverse could become a multi-billion dollar industry, revolutionising collaboration and business practices.

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The World Economic Forum highlighted the metaverse as one of the most-read technology topics in 2023, indicating continued interest and attention from the industry and the public. However, some become more critical. A survey at the Game Developers Conference (GDC) in 2023 revealed that many developers are skeptical about the virtual world while Mark Zuckerberg, as head of Meta, invests millions of US dollars every month in building the metaverse. In the first nine months of 2023, Metas Reality Labs, the company’s augmented and virtual reality division, reported an operating loss of $11.5 billion. Huh. Is that justified?

3. Digital Twins

A digital twin serves as a virtual duplicate of a physical entity or process. In 2023, there was a surge in digital twin applications, especially in manufacturing, aerospace, and transportation. This trend is poised to extend to diverse sectors like healthcare, construction, and logistics. As businesses progressively digitize their operations, the significance of digital twins is set to grow.

Technological innovations like 5G, artificial intelligence, and machine learning will facilitate the development of more intricate and advanced digital twins. These breakthroughs will streamline the creation and maintenance of digital twins, making the process both more accessible and cost-effective.

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Market Research Future’s analysis suggests that the market for IoT twins is expected to grow to $15 billion by 2023. Moreover, the market is estimated to have a projected CAGR of 30% between 2023 and 2027. Leading players here are Siemens, Bosch, GE, Microsoft, AWS, Oracle, Emerson, ptc, Rockwell Automation, ABB etc.

4. Applied Artificial Intelligence (AI)

AI is one of the biggest tech trends. We are still only in the early days of the development of AI. As the technology becomes more sophisticated, it will be applied to further develop tech-based tools, such as training machines to recognise patterns, then act upon what it has detected. By 2024, AI-generated speech will be behind more than 50% of people’s interactions with computers. 

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The concerns about the technology grow at least as fast as the number of practical use cases. EU also initiated and is currently finalising the EU AI Act. This should govern the usage of AI especially when it comes to analysis and adopting of personal data.

5. Internet of Things (IoT) 

The Internet of Things (IoT) refers to the network of devices, sensors, and systems that are connected to the Internet and can communicate with each other. In 2023, we can expect the number of IoT devices to continue to grow, and edge computing will become more important to process and analyze the massive amounts of data generated by these devices. Edge computing enables real-time processing and analysis of data at the edge of the network, without needing to send data to the cloud for processing. This will result in faster response times, reduced latency, and increased reliability. 

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Analytics have predicted that IoT devices will see increasing growth, with the number of connected IoT devices expected to reach 14.4 billion in 2023 and potentially increase to 27 billion by 2025. And their usage will be extended across all industries and sectors including smart cities, traffic management, AI applications, and industrial applications, indicating the pervasive nature of IoT in society.

6. Quantum Computing 

Quantum computing is a realm that leverages the principles of quantum mechanics to revolutionize information processing. In the year 2023, quantum computing was more accessible and potent, unlocking a myriad of opportunities to tackle intricate problems that traditional computers find insurmountable. Quantum computing finds applications in diverse fields like drug discovery, logistics optimization, and cryptography. 

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According to an IBM computing executive, quantum computers are entering the “utility” phase, where they are on the verge of becoming useful in solving real-world problems. And in the meantime, the company already unveiled a new quantum computing chip and machine. It should improve error correction and chip connectivity.

In 2023, the variety of quantum computer types continue to expand. Superconducting, photonic, neutral atoms, trapped ions, and quantum dots. Each of them has unique characteristics and potential applications.

7. Extended Reality (XR)

Extended Reality (XR) encompasses technologies such as augmented reality (AR), virtual reality (VR), and mixed reality (MR). In 2023, XR was more immersive and realistic, with new applications in areas such as gaming, education, and remote work. XR  enables us to experience new forms of entertainment, collaborate more effectively in virtual environments, and explore new ways of learning. 

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In 2023, the Consumer Electronics Show (CES) featured a wealth of XR-related news, including the unveiling of the Vive XR Elite and new AR and VR technologies.

And, of course, AI start playing here also a pivotal role. The integration of AI and XR technologies becomes a significant focus in various industries. Also, in developing new 3D models and objects becomes more democratised.

8. Edge Computing

In 2023, the growing trend of Edge Computing offered low latency and high-speed data processing. This technology enables organizations to conduct computations closer to data storage systems, enhancing application performance. The goal is to minimize processes in the cloud, shifting them to edge servers or users’ computers. This approach accelerates processing speed, allowing for the management of time-sensitive data in remote areas with minimal access to central locations. 

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In 2023, new partnerships have been established. The US-based edge data center Vapor IO expands into Europe via a partnership with Cellnex. Microsoft announced an investment in a new cloud data center in Saudi Arabia, and Mobily announced a partnership with Tencent Cloud. And much more. So, new possibilities and options for the customers and users will have a positive effect.

In general, experts understand edge computing as a catalyst for innovation as indicated by a research report on edge computing innovations. Combined with 5G, IoT and AI, it will revolutionise the digital landscape.

9. Cybersecurity

As technology evolves, so do the complexities of cybersecurity threats. In 2023, the significance of cybersecurity escalated, propelled by advancements like blockchain and artificial intelligence enhancing security measures. The emergence of technologies like artificial intelligence, machine learning, and the Internet of Things (IoT) will introduce new cybersecurity challenges that demand attention.

Consequently, there’s a probable uptick in the need for cybersecurity professionals and services in 2023. This surge may trigger in future increased investments in cybersecurity research and development, fostering the growth of cybersecurity startups and companies.

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A comprehensive list of data breaches and cyber attacks in 2023 is available, detailing the security incidents that occurred throughout the year. Misconfigured databases or security systems, credential stuffing attacks, and exploitation of software vulnerabilities seem to be the main targeted root causes and attack vectors. The biggest-ever DDoS attack threatened companies worldwide in November 2023.

And, a cyber attack on Kyivstar, Ukraine’s largest telecommunications provider, caused a temporary chaos among customers and users in private sector. Kyivstar CEO Komarov told Bloomberg that the probability Russian entities were behind the attack was “close to 100%”.

10. 5G

Where 3G and 4G technologies have enabled us to browse the internet, use data-driven services, increased bandwidths for streaming on Spotify or YouTube and so much more, 5G services are expected to revolutionize our lives. By enabling services that rely on advanced technologies like AR and VR, alongside cloud-based gaming services like Google Stadia, NVidia GeForce Now and much more. It is expected to be used in factories, HD cameras that help improve safety and traffic management, smart grid control and smart retail too.

Just about every telecom company like Verizon, T-Mobile, Apple, Nokia Corp, QualComm, are now working on creating 5G applications. 5G Network subscriptions will reach 4.4 billion by the end of 2027, making it an emerging technology trend you must watch out for, and also save a spot in.

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Vodafone unveiled a low-cost Open RAN-compatible 5G network-in-a-box, which uses a software-defined radio chipset and a Raspberry Pi 4 personal computer. This innovation is part of the broader trend of Open RAN, which aims to create more flexible and cost-effective network solutions.

Huawei announced plans to manufacture 1 billion 5G devices per year for the European market in a new factory in Alsace, France. This EUR 200 million investment is expected to create 300 direct jobs and start manufacturing 5G equipment in 2025.

The global 5G market is expected to grow at a 17% CAGR between now and 2028. The Ericsson Mobility Report 2022 forecasts that the stand-alone (SA) enablement of smartphones will increase as more 5G SA services are deployed.

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In retrospect, 2023 showcased a tech landscape brimming with innovation, setting the stage for further advancements and transformative possibilities in the years to come.

#techtrends2023 #RPA #Metaverse #DigitalTwins #AppliedAI #IoT #EdgeComputing #QuantumComputing #ExtendedReality #Cybersecurity #5G

Teiva Systems is a ServiceNow Premier Partner and provides advisory, architecture, implementation, training and support services. Teiva Systems specialises in building custom applications and integrations with ServiceNow App Engine leveraging platform capabilities like common data model, security, integration layer.

Kostya Bazanov is ServiceNow Leading Architect and Technology Advisor since 2011. He acted in various roles such as technical consultant, implementer, solution architect, team lead in national and global projects and ServiceNow platform rollouts. Kostya is certified in ServiceNow ITSM, Discovery, Event Management, Application Development and other critical modules and capabilities.

Kostya Bazanov, Managing Director, Dec 22, 2023

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