Trading technology seems to have evolved and expanded at a staggering rate since the start of the Covid-19 pandemic. While the immediate effects of the pandemic have begun to ease, business technology continues to evolve, offering new tools and hubs that will change the way companies make decisions, communicate with customers, manage data, and more.
Knowing what to expect can help business leaders spot trends that could impact their industry and potentially increase their bottom line. Here, 13 experts from the Forbes Technology Council share their predictions for the business technology trends that will dominate headlines and CEO meetings in 2023.
1. Decision making based on machine learning and artificial intelligence
They are not new, but I think they will break new records: machine learning and artificial intelligence. Every day we receive more and more data about the world and store it. But it's getting harder and harder to read and use. Machine learning and artificial intelligence will play an important role in data-driven decision making in business, healthcare and environmental research. Five years ago, its adoption was limited, but I think that since 2020 it has become more widespread around the world. -Nadya Knysh, she
2. Smart objects
Smart objects (buildings, facilities, etc.) that constantly monitor and evaluate health, sustainability and quality of life will arrive in 2023 and will define the construction and property management industry for years to come. The ESG rules will take the development of real estate and health and safety technologies to a new level, along with the need to improve people's living standards. – Spyros Leolis, micro focus
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3. Certified Data Science Business Analyst
In 2023, we will see more business analysts with data science certifications. As we move towards a future where any organization can find and connect to the data they need to use it, we will blur the line between business operator and data scientist. Data scientists will return to the business landscape, while data scientists will earn certifications in data science. -Louise Wynn-Jones, ThinkData Works
4. Digital twins
The understanding and use of digital twins will increase significantly as companies realize the potential they offer. Combined with other consensus technologies such as AI, ML, and Metaverse, digital twins can become essential and must-have capabilities for companies looking to increase the agility of their operations through technology. – Mark Brown, British Standards Institute (BSI)
I expect the availability and reliability of 5G networks to increase, especially outside the US in currently lagging markets. This will have a huge positive impact on the business as many are now hiring remote team members who are often in low quality online marketplaces which inevitably impacts their work and communication with the rest of the team. -Peter Abuljolf, Mashwizard
6. Internet of Things
One of the business technology trends that will dominate is the increased use of IoT infrastructure in our daily lives. With the rise of mobile devices and the advent of artificial intelligence, more and more devices, from our home offices to cars and public spaces, will be connected and automated, creating value in new ways. -Mark Fisher, Dogtown Media LLC
7. Social commerce
Social commerce will dominate in 2023. With the proliferation of social media platforms and the rise of mobile device usage, more and more people are buying and selling goods and services through social media channels. As various social media platforms begin to create a more integrated shopping experience, consumers can make all their purchases on one platform. – Bhavin Patel, City Corporation
8. AI as a service
AI as a service will become more popular in 2023 as more and more companies integrate AI into their products and services. AIaaS includes intelligent AI tools and services that enable companies to implement and scale AI strategies at a fraction of the cost of building their own AI tools. AIaaS will help more resource-constrained organizations adopt AI at a lower cost. – Deep Day, Nosh Technologies
"Metaverse" is a generic term used by futurists to describe the "next level" of the Internet. With this new technology, we can communicate with brands and other consumers through immersive technologies, including 3D and virtual reality. We may also use our own avatars to describe our products and services. – Christian Randieri, IntelliSystem Technologies
In 2023, Web3 will be a utility, not a strategy. As more industries and companies discover and understand the use cases for this new wave of technologies, from tokenization for customer acquisition (such as digital collections and loyalty programs) to promising digital asset payment platforms, Web3-related technologies will become its part. . : an important decision for many companies. — Kevin Lehtinity, Fortress Web3 Technologies
We seem to be moving into an increasingly turbulent environment that will require a focus on efficiency. This commitment to efficiency will not only focus on technology choices and core competencies, but will also be reflected in business operations and people. – Bayan Ivanov, Storpool Storage
In many organizations, the data needed to create an enjoyable digital experience for customers is shared across multiple systems. The required integration of data or systems is time-consuming, technically complex and fragile. Gartner predicts that by 2023, 60% of companies will consider integration as one of their strategic goals. – Emmanuel Ramos, OZ Digital Consulting
13. Standardization of medical technologies
Standardization provides the necessary basis for innovation. For example, healthcare digital health predates regulatory efforts to standardize health record formats using FHIR. In 2023, this standardization will continue and the technology will be further integrated into the healthcare ecosystem. With the help of technology, we can achieve better health outcomes. – Nicholas Domnish, EES Health