Agenda 2023: The Year of Moonshots?

The last three years have been rife with challenges and change, and most big or small companies have adopted innovation or are setting up to innovate. But, in my experience, those who kept one ear firmly to the ground without being afraid to try new things succeeded. And this, inevitably, meant that some of the most unexpected technology trends of the last few decades happened in these years.

With the rise of the metaverse, automation of everything and 5G becoming mainstream, there is much to report when we look back on 2022. So what’s next on the road ahead? Will companies continue pushing the boundaries in 2023, or will they take a more conservative approach to protect against risks? Here are the key predictions:

1. Immersive technologies will create a new breed of digital workers

While augmented reality (AR) and virtual reality (VR) have existed for many years, adoption has been cost-prohibitive with a steep learning curve. Only with the broader availability of 5G networks and a competitive AR/VR market are we seeing the widespread use of immersive tools. In 2023, AR/VR (and even MR solutions like Microsoft HoloLens) will help in remote inspection, equipment maintenance in rugged terrain, etc. Not only will this increase service coverage at the same effort, but it will also reduce the risk of errors.

2. Technologies will come together to create a digital immune system (DIS)

Initially developed by IBM, Gartner has transformed and popularised the idea of a DIS. It entails using different technologies and best practices for application development, automation, operations, and analytics to make them resilient to system failures. In 2023, DIS has the potential to be leveraged by large technology companies and enterprise buyers to improve their site reliability and security.

3. The cloud will surpass on-premise infrastructure

It has been a prediction for several years, and Here, I would like to mention that much of the world’s data is still stored on-premise, and IBM’s mainframe lines continue to find customers. Soon, I believe public cloud, private cloud, and on-premise storage infrastructure will co-exist. At the same time, the enterprise perimeter will expand with more and more data processes taking place at the edge.

4. Enterprises will trial generative AI

In 2022, generative AI applications like Lensa and ChatGPT will have made headlines due to their remarkable capabilities. ChatGPT, for instance, can generate a few lines, a paragraph, an essay, or even a script based on a simple text prompt. There has been a lot of debate around its legal implications (is it legal to feed on copyrighted works to generate original text?) and ethical ramifications (what will happen to create jobs once AI starts writing?). In 2023, enterprises will wade into the murky waters of generative AI. They will begin to trial commercial applications. Look at the demand for ChatGTP and the response of governments and companies about immediate threats and opportunities, respectively.\

5. The metaverse and blockchain market will stay lukewarm

In a way, the metaverse peaked between Q4 2021 and Q2 2022, right after the rebranding of Facebook and similar announcements by Microsoft, Epic Games, etc… The actual development of metaverse technology has slowed down partly due to an economic downswing, which brought down the value of cryptocurrencies and led to tech layoffs. In 2023, this segment will see lukewarm enthusiasm, investment, and adoption until a dramatic material change.

6. Artificial intelligence will be everywhere

In 2023, AI will no longer be a competitive differentiator that helps an app or a solution to stand out in the market. Instead, it will be a must-have for apps to make it to buyers’ shortlists in the first place. it is due to the wide availability of cheap and open-source AI frameworks. Also, affordable cloud hosting allows small companies to gather and process data without heavy investments.

7. Companies use economic metrics side by side with sustainability metrics

Conversations around geopolitical stability, public health, and climate change have put sustainability front and centre of enterprise goals. In the next few years, companies will focus on sustainability as much as they do on revenue generation and economic success. Technology will play an essential role by helping enterprises create multi-dimensional future projections. It will include data models fed by financial metrics and sustainability metrics.

8. There will be a boom in technologies re-shaping employee experiences

Employee experiences have gone through countless shifts in the last three years, from an overnight WFH migration to inconsistent standards across companies. Most employers advocate for hybrid work (although different companies follow widely divergent models), even though some mandate 40 hours in the office per week. Nevertheless, I expect the dust to settle in 2023, powered by technologies to improve the average employee experience. After all, following the Great Resignation and widespread Quiet Quitting, Great EX is no longer a luxury.

These are the top 8 predictions for 2023 that you need to know as a business leader. Are you interested in adding to this list? Let me know your thoughts and ideas at arvind@am-pmassociates.com.