Predict the Future: What are your top technology predictions of 2023?

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The Rise of Digital Twin

I think that organizations will use digital twins more often to get rid of tools that aren't necessary. Businesses increasingly rely on digital twins for real-time feedback on new procedures or products. With digital twins, companies can find out the pros and cons of a new design or material at a fraction of the time and cost of a physical stress test. Digital twins provide analytical capabilities that allow firms to obtain total access to their inventories, networks, vulnerabilities, and more. This is true across industries, from construction and supply chain management to cybersecurity.

The End of Fintech Boom
Not every business will do well in an economy that is shrinking, and the fintech sector, which has been doing well up until 2020, is already showing signs of trouble. According to investment management company Finch Capital, financing for fintech will reach $6 billion in 2020 and $19 billion in 2021, before falling by 25% in 2022. Fintech will not collapse, but growth will continue to decelerate. Since 2020, the number of new fintech companies has decreased by 85 percent. In the first half of 2022, there were 591 registered fintech mergers and acquisitions.

Increased Tool Consolidation across the Cybersecurity Market
Cybersecurity may be improving, but this does not imply that it is growing. Expect that your security department will try to stop bloatware and new technology stacks that don't make sense in the coming year. However, this is easier said than done. The complexity of the cybersecurity sector cannot be concealed. Since every new product on the market claims to be the "silver bullet" against malware, it has become very hard for clients to figure out which technologies are necessary and which ones aren't. Also, based on the studies and reports I've seen on Gartner, I think that 5G will bring in even more "Internet of Things" devices in the near future. This makes it more important than ever to have a streamlined and effective cybersecurity plan. I think that two of the most important ways to strengthen current defenses are to fix gaps in security technology and get rid of inefficient ways of integrating it. The trick is to change the focus of security to a goal you want to reach and then figure out which technologies are really necessary to get there.

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Continued progress in the field of artificial intelligence and the increased use of AI in a variety of applications.
The proliferation of the Internet of Things, with more and more devices being connected to the internet and able to communicate with each other.
The continued development of 5G networks, which will enable faster and more reliable internet connectivity.
The growing use of virtual and augmented reality in a variety of areas

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Advertising game-changers: Interactivity and Channel Selection is getting on 🔥.

With an ever-growing number of digital advertising channels, advertisers must determine which platforms generate the greatest results while also quickly adapting to ad-blockers, "ad-blindness," and decreasing consumer attention spans. In addition to channel variety, the digital arena has created more sophisticated consumer preferences. Brands are seeking for new and innovative ways to improve ad exposure without interfering with the viewing experience, such as interactive advertisements and linked TV (CTV). For marketers, CTV combines everything: brand promotion, targeted customer acquisition, and sales, all with clear feedback for improved ROI. We anticipate increasing M&A activity in the CTV-related services, data/analytics, and technology suppliers during the next 12 months.

Users may actively engage or observe a product as part of the content they are experiencing with interactive advertisements. In-app playable commercials, in-game advertising, display ads, augmented reality, and interactive open-web ads such as quizzes and surveys are some examples. Users become "participants" when they see interactive commercials, with a 47% increase in watching time compared to non-interactive ads2. Interactive advertisements also create brand recognition far more quickly than static advertising, improving the likelihood of conversion the second or third time the viewer sees the same brand. In-app playable commercials are a wonderful example, since the user becomes more involved with the promoted game, increasing the likelihood that they would download it. Global interactive advertising spending is expected to climb dramatically in the next years due to rising popularity and material performance consequences.

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Revolution of cognitive robotics through major improvements in hardware and software.

The rapid growth of technology and software utilized in the next generation of robots, along with fast, edge-based processing capacity, enables robots to synthesize a plethora of sensory input into a holistic understanding of their environment. As a result, robots are now capable of really and securely engaging with people in the workplace. Robots can already see, feel, hear, and behave in their human-centered world thanks to speedier operating systems and AI-driven continuous learning. When combined with reduced hardware prices owing to modular robot design and lower implementation costs due to AI capabilities, the addressable market for robot-based automation is expected to grow several-fold.

Robotics will significantly expand and proliferate in our daily lives as a result of technology advancements. While the industrial robotics business is predicted to reach $80 billion by 2030, professional services robots are expected to reach $170 billion by 20301, outpacing conventional robots. Use cases include senior care (driven by demographic changes), retail and public sector applications, and residential robots operating as multi-purpose personal helpers. Eventually, we will witness a robotic revolution, with the most advanced robots not only liberating people from tedious tasks, but also replacing professions in a variety of industries.

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Metaverse
- In education, industrial and entertainment, the use of metaverse will come into it's own during 2023

Blockchain/smart contracts/DeFi
- blockchain will breakout from the crypto focus and we'll begin to see the real potential of it to enable new business models (smart contracts and DeFi as areas of key enablement and opportunity).
- Security and Identity will start to really shine in replacing the Advil/Tylenol we've all been using to treat the symptoms of our existing broken security strategies

Edge Computing
- Most people don't realize how much edge computing is already permeating the world. However, by the end of 2023 it will become very obvious to anyone looking. Enabling metaverse, blockchain, IoT, supply chain, retail, medical and many more important areas of opportunity.

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My two cents:

Make no mistake, 2023 will be a tough year for businesses. Nice to have technologies will become not nice to have in 2023.

There will be a deepening return to common sense cost saving, cash flow enhancing, profit creating business technology investments.

Technology that improves employee and customer experience AND the bottom line in particular is going to win out this year when it comes to IT budgets.

1. The digital and the real worlds will merge more and more as the Metaverse grows in impact and importance.

2. Demand for Cybersecurity will grow as businesses that digitally transformed during covid discover they need protection.

3. AI will be everywhere and will commoditize 40%+ of what businesses do - Generative AI will be the hot AI tech.

4. Lots of white collar tasks will get automated much to those workers surprise.

5. Someone will find a profitable, widespread commercial use for crypto and blockchain.

6. Inflation, recession and higher operational costs will force businesses to automate.

7. Regardless of recession etc., customers will still demand better experiences.

8. Demand for SI who offer outcome based contracts will grow.

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AI and blockchain will be the leading technology,

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WEB 3.0

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Digital Twins, IoT, AI & Edge
With the focus of Twitter & LinkedIn 'experts' shifted away from web3 to AI I expect Digital Twins and AI to get a lot of attention
IoT and Edge are becoming increasingly accepted at consumer levels thanks to the availability of consumer devices, release of Matter and technologies like VR becoming more accessible

Predict the Future: What are your top technology predictions of 2023?

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