Businesses have undergone numerous challenges in the past few years, and it doesn’t seem to slow down anytime soon.
The aftereffects of the Ukraine and Russia war and the outbreak of COVID-19 took a toll on the business world globally.
With this, technological advancements have been evolving rapidly to keep things afloat and shape the technological landscape for a better tomorrow.
New Year is around the corner, and we look forward to emerging 2023 trends that’ll present several opportunities for individuals and businesses alike.
Top 7 2023 Trends We Look Forward to
Each year businesses look ahead to key technology trends to gain a competitive edge and offer better customer experience.
Consumer behavior alike has undergone massive changes. They expect businesses to cater to their needs and provide them with a hassle-free experience in the age of digitization.
Here are a few 2023 trends we look forward to for a better future.
Sustainability
The world is drastically waking up to the realization that climate change is threatening the planet.
A study published by United Nations Children’s Fund (UNICEF) highlights that around 73% of people are concerned about climate change and its negative impacts on the quality of life.
Another report shows that 80% of people are ready to alter their work practices to alleviate the effects of climate change.
A desire to help the environment has led more consumers to purchase from environmentally friendly brands. Around 30% of consumers want to help the environment, and 22% desire to reduce their carbon footprint.
Because investors understand consumer needs, they are willing to shift toward sustainable practices.
Companies in 2023 must keep their environmental, social, and governance (ESG) procedures at the center stage to thrive in a competitive business world.
Inflation & Supply Chain Security
Unfortunately, the dire consequences of the pandemic have not faded up till now. Experts predict ongoing inflation and slow economic growth.
Numerous industries are still experiencing the aftereffects of war in Ukraine and global lockdowns caused by the pandemic.
Hence, companies are bound to improve their practices to combat the ongoing challenges and stay afloat. They must take preventive measures to tackle skyrocketing logistic costs and supply chain shortages.
For instance, businesses can move to alternative suppliers or become more self-reliant.
Companies, for example, can in-source manufacturing parts instead of relying on manufacturers still plagued by the zero pandemic policy and lockdowns.
Metaverse
Metaverse is on the rise. Although no one knows what the immersive digital world will look like in the next 5 years, we expect it to happen soon.
Mark Zuckerberg believes it’ll be more about virtual and augmented reality (VR/AR). On the flip side, Web3 creators believe it will be focused on blockchain and decentralization.
Both ideas aren’t essentially exclusive. However, we cannot say that the internet of tomorrow won’t revolve around decentralization or 3D technology. However, the emergence of both concepts makes Metaverse a rather confusing term for individuals.
Overall, Metaverse will provide an opportunity where consumers and brands would interact via immersive technology, including VR and 3D environments.
Customers would be able to browse their favorite shops and try on virtual representations of clothing, accessories, and whatnot.
We might use virtual dressing rooms where we can dress up our avatars to see how the clothing fits our bodies. Hugo Boss and Walmart have already taken the initiative; the trend will continue to rise in 2023 and shape the online and offline retail world.
Artificial Intelligence (AI)
Google CEO Sundar Pichai described AI as “more significant than electricity or fire.” Although AI gained traction long ago, we’re unaware of how ubiquitous it has become.
We rely on AI algorithms when shopping online, browsing the internet, and navigating as we travel.
One of the biggest 2023 AI trends would revolve around the augmentation of employees. While artificial intelligence will vanish a few types of human jobs in the future, new ones will surface soon to replace them.
Whip-smart business owners and employers would take steps to navigate the change and enable employees to leverage newly available tools.
Synthetic content is yet another noteworthy field in the AI world. This involves using artificial intelligence to produce sounds, images, and information never created before. Think of it as what a human does when they write a book or paint a picture that never existed.
3D Printing
3D printing is yet another innovation used to formulate prototypes. Industrial and biomedical sectors have been benefiting from technology for the most part. Back then, no one thought of printing an actual object from a printer.
However, it has become a reality in today’s digital world. So, 3D innovation is here to stay and will transform rapidly in 2023. In fact, data reveals that the global 3D printing market is predicted to surpass $50 billion in the next 10 years.
Cost is one of the biggest challenges with 3D printing. Hence, business giants are more likely to adopt - and benefit from - it.
Nonetheless, things are bound to change in the future. Technology is becoming better and more affordable. So, even small companies will be able to produce prototypes in the future.
Hyper-Connected World
This 2023 trend connects all others. It is a network of devices, infrastructure, and sensors tied together to collect data the world needs to train AI machines and build a digitally immersive world.
Referred to as the Internet of Things (IoT), we’ll strongly feel its impact on our lives in 2023.
IoT will remain the center of attention to encourage complicated machine interactions. Today, we’ve become accustomed to using smart appliances and gadgets in our homes.
However, we frequently encounter issues where machines have difficulty communicating due to varying operating systems and platforms. Luckily, we’ll see technological developments that devices will use to communicate and offer better solutions.
Besides, security is another area of focus in 2023. Although connected gadgets improve our lifestyles, they also pose security threats. Advancements in IoT and AI tools will thwart attacks and boost security.
Conclusion
Technology will continue to evolve and shape the future world. However, businesses need to ensure it remains environmentally sustainable and they don’t waste valuable resources.
So, while 2023 trends are intriguing and exciting, brands must follow sustainable practices to meet customer demands and reduce adverse environmental impact.
