Tech yourself, before you wreck yourself
It’s always good to be ahead of the curve when it comes to the latest technologies, especially knowing which are gaining the most purchase.
So, what are the most important trends that businesses and investors should be prepared for? We round up a selection of likely tech developments this year that could permeate many areas of life and offer opportunities.
Rise and rise of AI
In 2023, artificial intelligence will become real in organisations. No-code AI will enable more intelligent products and services. We’re already seeing this trend in the retail market. Contactless, autonomous shopping and delivery will also be a huge trend for 2023. AI will make it easier for consumers to pay for and receive goods and services.
According to a report by marketsandmarkets.com, the AI market will grow to a USD $190bn industry by 2025 with global spending on cognitive and AI systems reaching over $57bn in 2023. With AI spreading its wings across sectors, new jobs will be created in development,
Metaverse a reality?
The term metaverse has become shorthand for a more immersive internet where people can work, play, socialise and do business on a perennial medium.
Experts predict that the metaverse will add $5 trillion to the global economy by 2030, and 2023 will be the year that defines the direction of the metaverse for the next decade.
Augmented reality (AR) and virtual reality (VR) technology will continue to advance. One area to watch is the work environment in the metaverse — in 2023, with many it educating that we’ll have more interactive meeting environments where we can talk, brainstorm, and co-create together. Microsoft and Nvidia are already developing metaverse platforms for collaborating on digital projects.
Leaps in Web3
Blockchain technology could also progress in 2023 as tech companies create more decentralised products and services.
Now we’re storing a lot in the cloud — but if we decentralise data storage and encrypt that data using blockchain, our information will not only be safer, but we’ll have innovative ways to access and analyse it.
A good example is Non-fungible tokens (NFTs), which could become more usable and pragmatic. NFT tickets to concerts could potentially grant access to backstage experiences and memorabilia.
Quantum hop, skip and jump
Quantum computing, which uses subatomic particles to help disseminate and store information, is a scientific advance that’s expected to unleash computers capable of operating a trillion times more quickly than the fastest traditional processors available today.
Currently there is a global race among countries, companies and just about anybody else who wants to be among the leaders in a new wave. Watch for developments in this field.
Robots emulating their masters
In 2023, robots “will become even more like humans”, according to Forbes — in appearance and capability. The next generation of robots could well make the jump to being utilised in the real world as hosts, servers, advisors, and perhaps socially as company for the vulnerable and elderly.
They’ll also be able to perform even more complex tasks in warehouses and factories as they work alongside humans in manufacturing and logistics.
As Forbes reported, at Tesla AI Day in September 2022, Elon Musk revealed two Optimus humanoid robot prototypes, and said the company would be ready to take orders within the next 3 to 5 years. The robot can perform simple tasks like lifting items and watering plants — so perhaps soon we’ll be able to have “robot butlers” that help around in the house.
Our take
‘The future is now’ is a healthy mantra for an investor in this field, and this year is shaping up to be one in which that saying could be more relevant than ever.
The speed at which innovation is being wrought unto the business – and real – world just keeps getting more and more rapid, offering more and more wonder and opportunity.