One of the many perks of living in the 21st century is to be able to enjoy the new, quite different, and special technology. Technology, as you perfectly know, is constantly evolving due to the needs of human beings in order to create a more facilitated and advanced life.
In this post, we will review the top tech trends for businesses in 2023 so that you will get familiar with the capabilities and excitements you can add to your business. Then, you can adapt your business to these top tech trends and align with the pace of technology to meet the expectations of your customers.
Why is Aligning with Top Tech Trends Important?
It is undeniably important that you should adapt your business to the top tech trends but why is that so? There are two main reasons involved regardless of the type of industry you are active in:
- Increasing your brand visibility – let’s go one step back and see why you chose to take your business to the online and virtual world. You waved goodbye to your traditional strategies because many of your competitors were going online and many of your customers began to change their preferences and expectations. If you remained tied to your traditional boundaries and confinements, you could not have survived the market. Adding new tech trends is the same story. If you want to increase your visibility, profitability, customer retention rate, and conversion rate, you need to be a modern solution to modern needs.
- Simplifying your internal business operations – technology is meant to facilitate. If you allow your business to embrace and absorb technology in each department, you can notice how simplified the process gets. For instance, think of using a project management tool to manage your agile team instead of still sticking to your traditional project management strategies. Not only processes would be done in a much easier, faster, more accurate, and error-free way but also your teams would be much happier and more productive.
What Are the Top Tech Trends for Businesses in 2023?
Here, you can read about the top tech trends for businesses and see which one suits your business best:
1. Artificial Intelligence (AI)
AI has emerged during the past decade and continues to evolve and remarkably affects our lives and businesses in the present time and definitely in the near future. Some of the examples of AI technology in our everyday life are voice search, speech recognition, personal assistants such as Siri and Alexa, navigation apps, etc.
Since AI is evolving and getting more advanced, it can be used to analyze the interactions and behavior of people. This can be very helpful in terms of predicting demand patterns for products and services of almost any industry. As a result, your business can provide a personalized customer experience which can lead to more satisfied customers and increased revenue for your company.
For instance, AI and big data analysis can give you a pattern associated with your generated leads and target audience based on their demographics, interests, online behavior, etc. Knowing about the needs of your target audience in advance can help you create a personalized customer journey and avoid surprises.
Another example of AI is the algorithms of social media networks. Using the same method of following the users and collecting their behavior data, these networks can customize ads, posts, etc. for each user. Here is an Instagram example:
Instagram Shopping uses AI to suggest products to users that it thinks they may like based on their previous visits, amount of time spent on posts, followed or most searched accounts, most shared posts, most liked posts, etc. Similar algorithms can be used to streamline the experience at Shopify and BigCommerce stores
Jonathan Mangual, SEO Manager at MyPerfectResume shared: “Through custom AI development company we can help our shoppers get rid of their choice paralysis and ensure they make the right decision when selecting and buying a product. Without AI, we would be forced to review thousands of items on our own and make a selection without any guarantee that this was the right choice for us. Resulting in high return rates and unsatisfied clients”.
2. Machine Learning
Machine learning, just like AI, is paving its way toward advancements. Many jobs do not exist nowadays as they have been influenced by machine learning and automation. While it may sound controversial whether machine learning is a positive change to societies, it should be mentioned that machine learning has also created new jobs and professions.
For instance, we now have positions for data scientists, automation specialists, robot monitoring professionals, AI engineers, AI architects, machine learning engineers, etc. So, machine learning does not only not threaten societies but also helps individuals evolve into professionals and specialists instead of being a workforce that does a linear, boring, repeated job that can be easily replaced by machines. And developers who focus their efforts on bigcommerce app development should consider using the power the machine learning.
3. Extended Reality (ER)
A general name for technologies that improve or replace our perception of the world is eXtended Reality (XR). This is frequently accomplished by superimposing, engulfing, or even combining computer text and graphics with both real-world and virtual settings. eXtended Reality includes Virtual Reality (VR) and Augmented Reality (AR). VR immerses the user in an environment while AR enhances their environment.
To give you an example of how VR and AR are being used in business, we can mention the development of navigation instead of simple maps. So, you can easily get to your destination without having to always keep an eye on the map. Another example can be the use of this tech trend in the beauty industry. Let’s take a practical example to illustrate this further. If your employee is working in a large warehouse and needs to coordinate well, he or she will require some form of device. To get a bigger picture you should look at some wearable technology examples. Beauty and makeup brands allow their online buyers to try on cosmetics virtually before buying them.
4. Robotic Process Automation (RPA)
The next tech trend on our list is RPA or Robotic Process Automation. RPA refers to the use of software to automate business processes, including application interpretation, transaction processing, data handling, and even email replying. RPA automates routine processes like receipt and expense reporting that previously required human labor. As mentioned earlier, project management systems are one example of RPAs. Another example can be time management tools as well as mind mapping software.
Again, just as we said when talking about machine learning, RPA is also bringing new jobs to our world of business so there is no danger of unemployment if individuals adapt themselves to the needs of modern technology. For instance, developers, analysts, and architects of RPA are in demand in the businesses that use the RPA tech trend.
Let’s first clear the air that we are not referring to cryptocurrencies by mentioning blockchain technology. Blockchain technology can be defined as a chain of data that you can only add data to and not take data from it. That is actually why the name includes ‘chain’. Moreover, What makes it so safe is that the prior data blocks cannot be changed. Blockchain development is also consensus-driven, meaning no one organization can control the data. Due to such security of data, blockchain eliminates the requirement for a reliable third party to supervise or verify transactions.
6. Internet of Things (IoT)
Internet of Things (IoT) is another tech trend that you can use in your business. As its name suggests, the Internet of Things involves things or objects that are smart and can be connected to the Internet or to each other in order to exchange data. You can see many examples among home appliances (e.g. smart refrigerators, doors, lamps, ovens), cars, watches, etc.
However, you can use IoT in your business as it can provide you with improved safety, better decision-making processes based on collected data, increased efficiencies, better customer service, etc.
5G technology is the 5th generation of mobile networks. Following 1G, 2G, 3G, and 4G networks, 5G is a new international wireless standard. In order to connect practically everyone and everything together, including machines, objects, and gadgets, 5G enables a new type of network.
The goal of 5G wireless technology is to provide more users with faster multi-Gbps peak data rates, extremely low latency, enhanced reliability, vast network capacity, and a more consistent user experience. Almost all telecom companies, including Verizon, T-Mobile, Apple, Nokia Corp., and Qualcomm, are now developing 5G applications.
Cybersecurity offers digital protection for your online business, guaranteeing that your users, staff, and system are secure from any threats. It is not a new technology but it is constantly developing as threats and cyberattacks are evolving and becoming more complex. Here is a list of cyberattacks and cybercrime:
- Backdoor Trojan
- Cross-Site Scripting (XSS) Attack
- Denial-of-Service (DoS)
- DNS Tunneling
- SQL Injection
- Zero-Day Exploit
93% of business networks are vulnerable to cyberattacks. Cybersecurity has become a requirement for internet businesses of all sizes since there are cyber criminals out there trying to hack networks and systems that contain sensitive and valuable data. You can protect your data from cybercrime and significant harm by using cybersecurity technology lookup.
9. Edge Computing
First and foremost, it is critical to recognize that cloud computing and edge computing are two distinct, non-replaceable technologies. While cloud computing is used to handle data that is not time-driven, edge computing is used to process data that is.
In remote areas with poor or no connectivity to a centralized location, edge computing is chosen over cloud computing. In other words, edge computing is local storage that functions like a small data center. It is a distributed computing system that puts business applications closer to data sources like the Internet of Things (IoT) gadgets or regional edge servers. Strong business advantages can result from being close to the data’s source, including quicker insights, quicker turnaround times, and better bandwidth availability. In this context, reverse ETL acts as a crucial component, allowing organizations to extract, transform, and load data from operational systems or databases within the edge computing infrastructure for centralized analysis.
10. Quantum Computing
Quantum computing is a fast-developing technology that uses the principles of quantum physics to solve issues that are too complicated for conventional computers. Additionally, the advancement of quantum computing software has played a pivotal role in harnessing the immense computational power of quantum systems, enabling faster simulations and optimization algorithms.
Thanks to its remarkable ability to quickly query, monitor, analyze, and act on data, regardless of source, this tech trend is also helping to limit the spread of the coronavirus and to create viable vaccinations. Banking and finance is another industry where quantum computing is being used to manage credit risk, provide high-frequency trading, and detect fraud.
11. Hybrid Work
As companies ease out of the pandemic and employees return to the office, hybrid work has begun to emerge. This means employees are required to work a few days a week in the office, or half the staff is in person and the other half online.
Employee GPS tracking apps can help organizations effectively manage this transition by offering real-time visibility into remote and in-office activities. These apps enable companies to track employee hours, regardless of their location, ensuring fair and accurate performance evaluation, regardless of where employees are situated.
12. Coaching Platform
Developing your staff involves refining their practices and granting them a role in affecting the atmosphere of their place of work. Coaches are beneficial for tackling difficult scenarios and fostering a sense of empowerment within a business or company. If your company already has coaches, provide them with a coaching platform for business growth. It will make their daily tasks simpler and result in positive changes for team members.
There are benefits to this trend, including increased flexibility, strong and more diverse talent pools, and increased employee wellbeing. On the other hand, there are DEI considerations to weigh as well. Companies also need to adapt their workflows and tech stack accordingly. For example, their meeting culture and tools need to fit with both in-person and remote employees. This includes using video conferencing apps, meeting minutes tools, and communication tools. Employer of record organisations such as Remote simplify the hiring and management of global talent and remove the legal implications of global hiring
13. Hybrid Events:
In the digital age, it is obvious that many corporations have adopted remote and hybrid work models, as discussed above. In an office setting, many events and activities occur in parallel. However, for remote workers, it can be difficult to travel and attend in-person events or register for events that are far from their hometown. With hybrid events, you can create a virtual environment with many engaging features such as polls, quizzes, live chat, gamification, or even using AR/VR to offer them an effective in-person-like experience. This is considered one of the most important points for businesses, as happy employees are twice as productive.
In the same segment, webinars are considered one of the best ways to make remote employees feel personalized yet easy to coordinate and collaborate. With webinars, you can effectively collaborate, do team meet-ups, and a lot more. There are many webinar platforms and webinar service providers that offer many engagement features like polls, Q&As, confetti, screen sharing, emojis, live chats, and other interactive features to make them feel engaged. If not with hybrid events, it is best to enhance collaboration opportunities with webinar platforms.
15. Data Observability:
Observability is a growing trend in 2023, enabling comprehensive insights into complex systems. It utilizes metrics, logs, and traces to understand distributed systems and microservices. Automation and AI/ML enhance observability, promoting collaboration between DevOps teams. Cloud-native observability tools like Datadog, Splunk, New Relic, etc cater to evolving architectures. Observability goes beyond monitoring, providing a holistic understanding of system behavior and business impact. In the market, various observability tools offer comprehensive data analysis, real-time visibility, and proactive insights for optimizing system performance and driving informed decision-making.
We just introduced 10 top tech trends for businesses in 2022 in this post! Depending on your business and the needs of your target audience, you can implement each of these new or evolving tech trends together with your tech and development teams. Remember that it is more a necessity than a choice to adapt your business to the latest tech trends. Wish you the best of luck!