Year after year, every technology has more innovations and breakthroughs happening. The evolution of the IT sector has become more expeditious, and our computing capacity has been enhanced one trillion times. New technologies are emerging, and existing technologies are making life easier, more advanced, and better for everyone. For the businesses concerned, new technology will help to reduce expenditure, enhance their customer experiences, and increase profits.
Let’s take a look at the top technology trends for 2023:
- Artificial Intelligence (AI) and Machine Learning (ML)
- Virtual Reality (VR) and Augmented Reality (AR)
- The Internet of Things (IoT)
- Cyber Security
Artificial Intelligence (AI) and Machine Learning (ML)
The development of artificial intelligence (AI) has lasted a decade due to a lot of buzz. From 2010 onwards, AI started to gain popularity. Nowadays, AI is one of the leading technologies because of its significant effects on our daily work. The most well-known AI in day-to-day life is image and speech recognition, navigation programs, and voice assistants like Alexa, Google Assistant, Siri, and many more.
For organizations, AI is paramount to analyzing customer and business interactions. With AI, you can have the foresight to predict demand for services such as hospitals or tourism and to abet in the progression of resource allocation.
Machine Learning (ML) is a branch of AI that uses supervised learning to learn new functions, which focuses on data and algorithms to predict the output value. Forrester predicts AI and machine learning will be responsible for 9% of all new jobs in the US by 2025.
Demandable jobs in 2023 for mastering AI and machine learning are:
- AI Engineer
- Machine Learning Engineer
- Business Intelligence Developer
- Robotic Scientist
- Research Scientist
Virtual Reality (VR) and Augmented Reality (AR)
Augmented reality and virtual reality have become ubiquitous in the last decade. Submerging the user into an alternate world, while augmented reality enhances the user’s physical world into a colourful one. So far, these applications are linked with gaming and filters on social media. Examples of VR applications include the automotive industry, healthcare, retail, tourism, and real estate. Examples of AR applications include Snapchat, Photography and Editing, Hololens, Pokemon Go, Google Glass, etc.
Simulation software such as Virtual Ship is used to train the U.S. Navy, Army, and Coast Guard ship captains. According to Statista (Database Company), the AR and VR market in 2023 was evaluated at $209.2 billion, which is ten times more than in 2016.
Currently, these technologies are used in healthcare to perform operations or train surgeons with diagnostic data in the form of holograms. In early February 2023, Microsoft conducted a webcast of 12 operations performed in MR (Mixed Reality). More than 13 countries’ surgeons can connect online in the form of holograms. They will consult with each other based on the diagnostic data.
The Internet of Things (IoT)
The Internet of Things (IoT) is one of the most promising and trending technologies of the last decade. Using IoT, you can connect multiple devices, or “things,” through Wi-Fi connectivity (connected to the internet). With IoT, we can enable the devices because it is a network of diverse connected devices. Beyond the hundreds of real-life IoT applications that track your activity using smart devices that connect to your phone, with that, you can remotely monitor home doors or switch applications on and off.
According to the IoT statistics compilation, it is growing at a ridiculous rate. In 2019 alone, 26 billion IoT devices were installed around the world. In 2030, more than 50 billion devices will be connected via the IoT. Global spending on this technology will reach approximately $1.1 trillion in the next 2 years.
The 5G network is the next big thing in mobile internet connectivity. 3G and 4G technologies make us more interactive with our mobile devices, allowing us to access the internet more quickly. 5G aims to revolutionize our virtual interactions through the integration of VR and AR technology. All around the world, telecommunication companies are working on 5G-ready services and devices.
Since the dawn of the computer, cyber security has played the most crucial role in ensuring a safer user experience. Cyber security is not an emerging technology, but it is evolving rapidly due to the new types of cyber threats being discovered every day. Cyber threats do not have any particular ways of stealing your data, but they do have many forms, and the most common among them is email phishing. Using IT security software, antivirus, and other cybersecurity defenses can secure our data from malicious activity. This is why cybersecurity will be a trending technology. Also find more about Why Cybersecurity is important for Small and Medium Businesses (SMBs).