Technology Trends 2023

Technological advances remain part of human life since beginning. Continuous efforts to make things better lead us where we are today. At an average, each year we build almost double the number of innovations compared to last year. The year 2023 would not be different and we all will witness how technology will improve our life style.

AI for everyone:

No-code development based on AI will enable businesses to leverage the power to create intelligent products and services with easy drag-and-drop interfaces. Among others, retail industry will be on top beneficiary where automated product ordering and delivery cycle will make owner focus more on developing business strategies instead of time-consuming pick, pack, ship and return cycle.

Web3 developments:

Blockchain for businesses will enable trusted partners with permissions to take advantage of shared ledgers resulting in increased efficiency through decentralized products and services. The information exchange will be safer if we decentralize data storage and encrypt that data using blockchain.

A new boom will be observed as NFTs will be integrated in much more new ways securing business more sales and increased revenues. Imagine, seamless admission to restricted areas such as business lounges, concerts, exhibitions, and others based on NFTs. Similarly, machine readable identity and travel documents will be easier to carry and give contactless entry and exits to and from specific facility.

Quantum computing in cybersecurity:

Quantum computing will make a revolution in the field of cybersecurity. Scientists predict that quantum computing is itself a threat to cybersecurity and could be used to break all kind of encryption with huge computing power. Reportedly, the U.S. National Institute of Standards and Technology (NIST) is already evaluating new methods to protect information security for post-quantum cryptography (PQC).

Green Technology:

Marine energy has many advantages over other types of renewables such as wind or solar power. More than 70 per cent of the world is covered in water and density of water compared to wind means more energy. According to IRENA’s Director-General, “Renewable energy from oceans has the potential to meet four times the global electricity demand of today, foster a blue economy, and bring socio-economic benefits to some of the area’s most vulnerable to climate change.”

Robots taking over human jobs:

China is expecting to have approx. 1.5 million robots in next 10 years and as a result of robotization, tens of millions of jobs will be lost. Installation of robots will increase the productivity and quality of products but on the other hand it also poses threats in reduction of jobs that can lead to income inequality.

Cloud based services:

An upward trend is observed during past few years in cloud-based products and services. 2023 will keep this trend and we will see new and improved services. We are already using some of the services in our daily life such as Netflix, Spotify, streaming services by YouTube, Facebook and others. These services are consuming lot of energy and require uninterrupted and reliable source of energy.

By admin