Nov 20, 2022

11 Top Technology Trends in 2023 You Should Know

Rana Tarakji | Nov 20, 2022 | 8 min read

If you want to make your business successful in the next decade, you need to start paying attention to some new technologies that are going to transform the way your customers work, play, and stay connected with one another.

Even if you’re not currently working as an entrepreneur or in tech, knowing what’s coming up next could give you an edge over your competitors and allow you to better prepare yourself and your business for new opportunities that come along with these technological advancements.

Below are the top 11 technology trends that 2023 businesses should keep an eye for.

1. Artificial Intelligence to Automate Processes

Artificial Intelligence is the intelligence exhibited by machines or software, and is typically manifested as self-learning and problem solving. Artificial intelligence research is now generally referred to as AI research.

AI applications are used throughout the world in many industries, including law, medicine, engineering, financial services. Machine learning (ML) is a part of AI that deals with enabling computers to learn. ML uses algorithms and techniques from computer science and statistics to give computers the ability to automatically learn from data without being programmed about everything. This trend has been on continuous rise and businesses who want to make a mark in their field, will have to adopt this approach in this business.

2. Augmented Reality and Virtual Reality

Virtual Reality (VR) and Augmented Reality (AR) are two of the hottest technologies in the world today. AR is a live view of a physical, real-world environment whose elements are augmented by computer-generated sensory input such as sound, video, graphics, or GPS data.

VR is an interactive computer technology that uses a headset to generate realistic images, sounds, and other sensations that replicate an experience like being there. Virtual reality replicates an environment that simulates a physical presence in places in the real world or imaginary worlds and lets the user interact with it through simple gestures.

These trends will continue to shape how consumers interact with their surroundings as well as virtual experiences and if you want to make your way into top-performing businesses in 2023, you will have to utilize these technologies.

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you will have to utilize these technologies

3. Blockchain to Keep Record of Transactions

Blockchain is a technology that records transactions as blocks of data in a digital ledger. It was originally developed as the accounting method for the cryptocurrency bitcoin, but has since evolved into much more.

Blockchain could be used by businesses as a way of collecting and storing data with increased security and reduced costs. This would allow companies to track their supply chain, protect intellectual property rights, and verify transactions in a much more efficient manner than traditional systems.


4. Cloud Computing to Store Your Data

The Cloud Computing era has begun and it’s ready to stay here for a long time, so you better benefit from this technology trend to grow your business. There are many benefits of having your business data in the cloud, but one of the biggest is security.

With all of this data being stored in a central location, there is less risk that your information will be hacked or stolen. It might take some time before you start feeling comfortable with this new way of doing things but we assure you that it will surely happen.

And once you’ve gotten over your initial hesitation, you’ll find that cloud computing can save both money and space by giving you access to enormous servers. You don’t have to worry about backups either because they’re taken care of automatically by professionals who know how to keep their customer’s data safe from harm while still making sure they’re accessible 24/7.


5. Cybersecurity to Secure Your Business Data

Cybersecurity is one of the fastest growing industries in the world. Cybercriminals are constantly creating new malware and techniques that can infect your systems, steal your data, or cause a data breach. To protect your business from these threats, it’s important to understand what you’re up against.

The average cybercriminal spends a considerable amount of time per year looking for ways to break into company networks and steal data. It doesn’t have to be like this. Newer security measures such as biometrics make it harder for cybercriminals to get past the first line of defense.

With these tools, businesses can detect intruders before they have a chance to access sensitive information about your business. So, whether you are a startup owner or an established businessman, consider taking cybersecurity measures to keep your business safe from cyber-attacks in 2023.

Cybersecurity measures are available for every type of business and are handy even when it comes to protecting your dental office from cyber-attacks.


6. Edge Computing to Process the Data

Edge computing is the future of data processing. It saves time and money by using distributed networks of devices near the data source, as opposed to sending information back and forth over long distances.

For example, a self-driving car would process things such as video locally rather than send it to the cloud. In this way, it can be more secure from hacking or malfunctioning due to connectivity issues. Data that needs to be processed at scale will still need to travel farther than if it was processed at the edge.

With increased capabilities in mobile devices and 5G networks coming online in 2019, companies should start now making plans on how they’ll leverage edge computing technology to optimize their operations in 2023.


7. Internet of Things

We’ve seen a lot of talk about the Internet of Things. So, the question is what is it? The Internet of Things (IoT) is the network of physical objects that are embedded with electronics, software, sensors, and connectivity which enables these objects to collect and exchange data.

Sounds complicated and futuristic, but do you know we’re already living in an IoT world? Objects from your coffee pot to your fitness tracker are currently connected to each other and more devices will be on the market soon.

In fact, Gartner predicts there will be 25 billion things communicating over the internet by 2020.  With this new technology comes increased risks of hacking and privacy concerns, so you will have to use third-party vendors with care and ensure maximum cyber security measures for your business.


8. Robotics for Manufacturing Operations

Robotics is now one of the top technology trends, and as advancements in artificial intelligence and machine learning continue, we can expect it will be a major component of every industry. The market is expected to grow at a compound annual growth rate.

It’s expected that robotics will redefine how manufacturing plants operate by adding flexibility, efficiency, and precision. Robots are already being used in warehouses where they work alongside humans in picking orders and shipping products.

In health care, there are robotic systems that perform surgery with extreme precision. With an aging population and people living longer than ever before, IT support for dentists is developed to assist dentists in doing their daily tasks and managing patient records.


9. Metaverse to Enrich Customer Experience

Virtual reality is a technology that’s been around for a while, but has mainly been relegated to gaming and filmmaking. But in the future, it could have some major benefits for businesses as well. For example, the metaverse, which is an immersive computer-generated environment, could be used to enrich the customer experience.

Imagine a retail store where customers can browse products on virtual shelves or take virtual tours of hotels before booking their stay. The possibilities are endless with this technology at your hand. What’s more, augmented reality systems might replace traditional screens.

So rather than looking at a phone screen, you’ll look at the world in front of you with digital content overlaid on top.


10. Wearable Devices

Wearable devices are the next frontier in technology and can provide a plethora of benefits to your business. Wearables can be used in a variety of settings, such as manufacturing, healthcare, and retail. They are also increasingly being used in educational settings.

Data collected from these wearable devices has become an invaluable asset for businesses because it is helping them understand how employees use their time and how they engage with tasks. Businesses need to stay abreast of emerging trends in wearables so that they can take advantage of the unique capabilities these technologies offer.


11. Ecommerce

E-commerce is a way of doing business without the need for a physical location. In fact, it is predicted that by 2023, e-commerce sales are estimated to generate about $3.5 trillion, making up 50% of all retail sales in developed countries.

This trend has become so popular that Amazon and Alibaba are two of the most valuable companies in the world. It’s also worth noting that while e-commerce is on the rise, brick-and-mortar stores won’t be going away anytime soon. In fact, according to Deloitte, in 2017 there were 6.7 billion visits made at U.S. malls versus 5.5 billion visits made at U.S. grocery stores.

With people still wanting both options available, this means that retailers should focus on investing in both channels rather than just one or the other. However, if your business is focusing more on online mediums, it is going to be a great investment without any doubt.