Top Technology Trends for 2023

Timely adoption of the latest information technologies is paramount for companies in many industrial sectors and spheres of life. By monitoring the new trends in technology, businesses get valuable insights that help them keep up with the competition and shape their digital journey in the years ahead.

Read on to learn more about the disruptive tech trends that may inspire new achievements in 2023.

Best Technology Trends 2023

1. Artificial Intelligence Engineering

The growth of AI use cases across industries is due to the benefits the technology provides: data-driven decision-making, automated processes, improved customer experience, and expedited outcomes.

According to MarketsandMarkets, the AI market is predicted to reach $190.61 billion by 2025, growing at a CAGR of 36.62% from 2018.

Hence, the need for a specialized discipline — artificial intelligence engineering — has emerged. Artificial intelligence engineering focuses on the development and implementation of AI systems and applications in real-world scenarios. It involves designing, building, testing, and integrating AI technologies, such as machine learning, computer vision, and natural language processing, into products and services. 

AI engineers work to bridge the gap between AI research and practical applications, and are responsible for developing AI systems that are efficient, scalable, and usable in a wide range of industries, including manufacturing, automotive, eCommerce, healthcare, telecommunications, and others. The goal of AI engineering is to create AI solutions that can improve business processes, automate tasks, and enhance the user experience.

One vivid practical example is generative AI, which stands out among the current trends of AI technology. While traditional artificial intelligence can only recognize and categorize existing data (provided by humans), generative AI creates new digital items like images, texts, videos, and audio content without human input.

New pieces of content, which have no analogs in the real world (for example, generated images of people), can be used in marketing or advertising, without infringing copyright laws or personal rights. Alongside the evolving metaverse, generative AI will also grow, as it will create characters and items for this “new universe,” gradually transforming into a profitable business.

2. AI Trust, Risk, and Security Management (AI TRiSM)  

Software solutions based on artificial intelligence (AI) have been maturing and becoming more sophisticated over the past years. At some point, traditional AI models ceased to cope with trust, risk, and security management properly. That’s why developers and businesses need a new approach to ensuring data security of modern AI solutions, one that makes them confront cyber threats efficiently.

Such an approach is called AI TRiSM (Trust, Risk, and Security Management). This is a framework for managing the ethical and societal implications of artificial intelligence (AI) systems. It aims to ensure that new AI models are designed, developed, and deployed in a way that prioritizes trust, responsibility, and security.

• Trust: AI systems should be designed and built in a way that engenders trust in their decision-making processes and outcomes, providing transparency and explainability to users and stakeholders.
• Responsibility: Organizations and individuals involved in the development and deployment of AI systems should be held accountable for the actions of these systems and any unintended consequences that may arise.
• Security: AI systems should be protected against malicious attacks, data breaches, and other security threats, and should be designed with privacy and data protection in mind.

The AI TRiSM concept is intended to be a holistic approach to AI governance. Its primary goal is to ensure that developed AI systems protect the rights and interests of individuals and society as a whole.

3. Digital Immune System 

Following the best technology trends, many companies strive to create digital immune systems.

A digital immune system is a comprehensive approach to cyber protection offered by IBM. It refers to a set of tools, techniques, and methodologies that ensure the resilience of business-critical systems to external impacts. The stack can include control and automatic recovery systems, intrusion detection and prevention systems, firewalls, antivirus software, chaos engineering, and other security measures. 

The role of a digital immune system is to detect and prevent malicious activities such as hacking, malware, and other cyberattacks. This is a key challenge for businesses that put reliability first, such as finance organizations and telecom providers.

AI/ML tools are often used in the context of digital immune systems, as they provide opportunities for enhanced testing and predictive analytics.

4. IoT Isn’t Slowing Down

The Internet of Things (IoT) has been introduced into many spheres in recent years and continues to build up its presence in 2023. Today, myriad devices are equipped with internet connectivity and the ability to collect and share data. You can find IoT devices anywhere: at your home, on your body (wearables), in vehicles, hospitals, manufacturing plants, and on city streets. 

• The number of IoT devices worldwide is forecast to almost triple from 8.74 billion in 2020 to more than 25.4 billion in 2030.
• In 2020, for the first time ever, there were more IoT connections (connected cars, smart home devices, connected industrial equipment) than non-IoT connections (smartphones, laptops, and computers).
• Projected global IoT spending in 2023 is $1.1 trillion.

This trend has led to a wide range of new applications and services, such as smart homes, connected cars, and industrial IoT. Telemedicine and digital health are the two directions that’ve taken off during the pandemic, and IoT is now the core driving force behind them.

5. Smarter Devices 

It is likely that there will be more smart devices available in 2023. The trend toward IoT proliferation and its integration with AI is driving the development of new and more advanced smart devices. 

These devices will be able to understand natural language commands, learn from usage patterns, and provide more personalized experiences. Some examples of these devices are smart speakers, smart home appliances, and wearable devices. They will be more connected, responsive, and efficient. 

The expanding 5G technology is also expected to further support the growing acceptance of smart devices and IoT.

6. 5G–6G Networks Are Here

With a breakthrough in mobile internet connectivity, 5G networks have become a popular trend.

Though the technology is still available only in certain areas, these facts make it clear that 5G is worth investing in:

• By 2024, 5G networks are predicted to cover 40% of the globe. (FinanceOnline)
• 5G offers unprecedented speeds, up to 100 times faster than 4G.
• An average 5G network will support millions of devices per square mile, compared to thousands of devices per square mile supported by 4G networks.

The greatest potential of 5G technology will be reflected in edge computing and IoT systems, as it will empower devices to perform complex operations (that only computers used to handle) and interconnect with each other seamlessly.

Research for 6G is already underway in China, the US, and other countries. The sixth generation of mobile communications is expected to be introduced in 2028–2030.

7. Virtual Reality and Augmented Reality 

Virtual reality (VR) and augmented reality (AR) are gaining momentum. Both VR and AR are becoming increasingly popular in the consumer market and have the potential to revolutionize the gaming, education, healthcare, and real estate industries. The technologies enable simulation and visualization in a variety of use cases, including training, remote previewing, and virtual prototyping.

The AR/VR market revenue is expected to reach $31.12 billion in 2023. Advancements in 5G networks are also expected to contribute to the AR/VR market growth.

8. The Metaverse Is Rising 

The idea to unite various digital technologies into one ecosystem and create a virtual analog of our reality has captured the minds of tech leaders worldwide. Facebook (now Meta) is already working to bring the metaverse concept to life. However, this trend hasn’t been limited to Meta, as Google, Apple, and Microsoft are also taking steps to keep up.

The metaverse market size was valued at $63 billion in 2021, with an expected CAGR of 43.2% by 2030.

In its essence, the metaverse will provide opportunities for people to experience the digital world in a completely new way: we’ll move beyond the screens of mobile phones and computers. This technology is going to be a new milestone in digital communication because it will implement multidimensional interactions.

People interacting with each other in the metaverse will have a feeling of physical presence, eye contact, and a shared sense of space. While far away from each other in physical reality, they will feel like they are in one room in this virtual world. This will make communication, work, entertainment, education, online shopping, and other social processes more natural and joyful.

Behind the metaverse’s development is the evolution of the following technologies:

• Extended reality (XR), which comprises augmented reality (AR), virtual reality (VR) and mixed reality (MR)
• Artificial intelligence (AI)
• Internet of Things (IoT)
• Computer vision
• Eye and hand tracking
• Avatars
• Perceptual science
• Hardware, such as haptic sensors, smart glasses, and AR/VR headsets

This technology trend may seem unrealistic to many people, but we have to admit that the future is already here. The apparent challenges that metaverse developers face and need to address are data privacy and security concerns.

9. Blockchain Technology Boosting 

Blockchain is among the strategic technology trends for businesses in 2023. The operational scheme of blockchain implies that there are no central nodes and all distributed devices simultaneously store all the information published in the blockchain. This provides an exceptional level of transaction security required by banking and finance, automotive, insurance, government, healthcare, telecommunications, and other industries.

Many companies strive to reduce business conflicts and improve the transparency of their operations. That’s why blockchain technology will continue to evolve rapidly in the years ahead.

10. Progress in Web 3.0 

Web 3.0 is the next evolution of the internet, focused on decentralization and the use of blockchain technology to create a more open and transparent web. It aims to give users more control over their data and online identity, and to create a more equitable distribution of power and value.

Some key developments in Web 3.0 include the growth of decentralized platforms such as Ethereum and EOS, which allow for the creation of decentralized applications (dApps). These dApps can be used for a variety of purposes, such as decentralized finance (DeFi) and non-fungible tokens (NFTs). Additionally, Web 3.0 is also expected to bring about new ways of data sharing and collaboration, enabled by peer-to-peer networks, InterPlanetary File System (IPFS), and distributed data storage solutions.

However, it’s important to note that Web 3.0 is still in its early stages of development and much of its potential is yet to be realized.

11. Robotic Process Automation (RPA) 

Robotic Process Automation (RPA) is a technology based on software robots (bots) that automate repetitive business tasks that have to be performed by human employees manually. For example, a robot can process electronic correspondence, highlight significant payment information, enter data into accounting papers, and create payment documents. 

When working on routine tasks, people require more time and are prone to making mistakes. Meanwhile, bots perform the same tasks quickly, accurately, and non-stop. 

The growth of RPA accelerated due to COVID-19, as businesses sought to maintain or even increase productivity during the pandemic. Due to bots, companies could replace sick workers, reduce costs, and maintain profits.

RPA will be among the key technology trends in 2023 worldwide. The RPA market size was $2.27 billion in 2021 and is projected to grow to $18.69 billion by 2030, with a 22.5% CAGR from 2022 to 2030.

12. Industry Cloud Platforms  

Cloud computing does not lose popularity in 2023. Among the popular use cases are industry cloud platforms — field-oriented cloud computing environments. They are built on top of a public cloud infrastructure and provide a set of tools, services, and applications that are tailored to meet the unique requirements of specific industries.

For example, a healthcare industry cloud platform equips medical providers with secure and compliant solutions for managing patient data, electronic health records, and other sensitive information. Another example is a manufacturing industry cloud, which provides plants and factories with tools for digital twins, IoT, and predictive maintenance.

Additional benefits offered by industry cloud platforms include compliance with industry regulations, pre-built integrations with other industry-specific tools, and support from experts who understand industry-specific needs.

13. Applied Observability 

Applied observability is based on techniques and tools that help you gain a deeper understanding of complex system behavior, both in terms of its normal and abnormal operation. It is considered one of the most important trends for the year 2023 and beyond.

Observability is a method of understanding the internal state of a system based on its external outputs, such as log files, metrics, and traces. Hence, its tools can include log management and analysis, metrics collection and visualization, and distributed tracing. These tools work together to provide a complete view of the system’s behavior and can be integrated with other technologies such as AI and machine learning to improve their performance.

The goal of applied observability is to provide a holistic view of the system and its performance, which can help with identifying and resolving issues, improving the system’s reliability, and making it more resilient to failures.

14. Quantum Computing 

In quantum computing, quantum-mechanical phenomena such as superposition and entanglement are used to perform operations on data. In 2023, it’s among the top emerging tech trends. 

The ability to perform certain calculations much faster than classical computers is one of the main advantages of quantum computing. Hence, the technology has the potential to revolutionize the way we solve complex tasks, such as cryptography, optimization, machine learning, and simulation. 

Different fields, including finance, healthcare, logistics, and energy, can apply quantum computing to solve issues that are currently intractable for classical computers. These are, for example, simulating the behavior of complex systems, breaking encryption codes, and optimizing large-scale logistics networks.

The development of quantum computing technology is still in its early stages. Tech companies and research organizations are endeavoring to build quantum computers and develop quantum algorithms and software to run on them.

15. Sustainable Technology 

Sustainable technology is steadily gaining popularity. Due to increasing concerns about climate change and the need for more environmentally-friendly solutions, there is a growing interest in sustainable technology. This includes renewable energy sources such as solar and wind power, energy-efficient buildings, electric vehicles, and other technologies that reduce the environmental impact of human activities. 

Investment in sustainable technology is also increasing, and governments around the world are implementing policies to support its development and deployment.

Why You Should Choose SaM Solutions as Your Technology Partner 

On the IT market since 1993, SaM Solutions provides a wide range of services including custom software development, consulting, QA services, migration and modernization. We have vast expertise in automotive, telecom, government, traveling and hospitality, healthcare, logistics and transportation, retail, and other industries.

SaM Solutions’ team of experienced developers and IT experts uses the latest technologies to build software products that meet the unique needs of our clients. Our teams always focus on the quality of the final product and deliver resilient yet cost-effective software. 

The Technology World Is Moving Forward

Life has become digital in many aspects, and the tech world doesn’t stand still. While the existing technologies are continuously improving, new ones are emerging and offering more change. That’s why it’s crucial for business leaders to keep abreast of the latest tech trends. This way they gain valuable insights about tech developments, quickly introduce innovations into their business processes, and can remain competitive even in uncertain times.