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Home Digital Top Trends in 2023

Top Trends in 2023

by Uma Rajagopal
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Top Trends in 2023

 

By Raj Shah, our Lead for Telecom, Media & Technology at Publicis Sapient  

Five months into 2023, we’ve already seen a new technology leap to the forefront of everyone’s thinking, significant layoffs in the tech sector, and the beginnings of how the workplace of the future will shape up post-pandemic.  The rest of 2023 looks to hold just as much change as the first part of the year, and organizations should keep the following trends in mind.

Generative AI hits peak hype, and then real progress begins.

Generative AI is one of the most exciting technologies on the horizon, although it still faces significant issues in the coming year. Led by the astounding progress of ChatGPT, the technology seems poised to disrupt just about every industry. For the first time in the digital revolution, knowledge workers feel pressure from automation technologies. Companies are rebuilding their business plans around the technology. Boards are pressuring executives to ensure the technology is part of their immediate plans. But some of the initial storm has to abate for the path forward to become clear. And when it does, there will likely be three big areas that will push AI progress:

  • Responsible Use  –  Much of the coverage around AI ethics centers around how AI systems like Bard or ChatGPT can be used for disinformation by bad actors. The same is true for almost all Generative AI – the cost to create deepfake videos using synthetic voices has plummeted to the point where amateurs can easily turn out convincing facsimiles in hours and for pennies. AI work is derivative by nature and presents a conundrum in intellectual property. Government regulation seems unlikely, so the question will be how much self-regulation tech leaders will provide. Unfortunately, as with social media, it looks like companies are much more interested in getting products to market and discovering how they can be misused rather than anticipating misuse and building in guardrails from the start. While more scientists and early pioneers start are calling for caution, it may take a significant event for tech companies to pause and establish protocols for AI to “first, do no harm.”
  • The Democratization of AI –  Most Generative AI today requires extensive data, heavy computing resources, and proprietary code and models. As more research is published and laggards in the field strive to catch up to Google, Open AI, and Microsoft, expect more foundational models and code bases to be made open source and designed to work on more accessible cloud infrastructure. In some cases, such as Stable Diffusion, models and underlying technologies have been open-sourced. However, currently, the bulk of AI solutions we have seen come to market are based on a handful of available services accessed via APIs from large organizations, linked together in just the front end. Developers will be able to not only use APIs but to tweak how neural networks and models are configured and respond, enabling industry-specific solutions to emerge. 
  • Tiny Models –  Currently, most Generative AI systems are still dependent on large models trained on huge sets of data from varied sources. As discriminative modeling advances, smaller, more manageable generative models will emerge, along with tools to “tune” models by injecting specific sources. An example might be transcripts from customer service calls to tune a model on how to answer questions specific to a company’s products. The resulting models will enable a host of niche, unique Generative AI solutions.

Blockchain moves into the core of some businesses

As with Generative AI and the Metaverse, blockchain technologies have been through their own hype cycle. As cryptocurrencies lose their luster, the underlying blockchain technology has a moment to truly emerge as a valuable foundation for creating real value for businesses. There are numerous valid use cases for a public or semi-public immutable ledger. The Financial Services industry has already been a driver of blockchain technologies, as ledgers are an integral, secure, and transparent part of the industry. Beyond trade settlement solutions, many of the industry’s regulatory and compliance requirements are prime candidates to adopt blockchain solutions. In supply chain, some supplier contracts have moved to the blockchain. Origination/provenance tracking solutions are coming to maturity in 2023 for agricultural, manufacturing, and raw materials sectors and may see adoption in markets like luxury goods and retail.  Finally, 2023 should see the first identity solutions using blockchain, starting with educational institutions publishing certifications and degree credentials onto blockchains, enabling users like employers to verify more easily that prospective candidates have the professional credentials they claim.

Education, not entertainment, drives the widespread adoption of AR, VR, and the Metaverse

While the narrative of the Metaverse remains rooted mainly in Meta’s vision of a community-based alternate reality, with the primary draw being entertainment, widespread adoption has lagged. 

But all hope is not lost.  With a younger generation exceptionally comfortable with virtual universes like Roblox and Minecraft, a huge user base has been prepared for the technology.  That generation is also working its way through the education system, and after two years of remote schooling through the pandemic, it is comfortable with remote learning. Could students get a degree without ever physically attending a class?  The answer to that is already yes. This represents a prime opportunity to rethink what platforms education, starting with higher education, is based upon.  And as graduates enter a workforce that requires continuous learning, that learning could be provided using AR, VR, and virtual technologies.  In 2023, expect education and learning to become a driving use case behind virtual reality.

5G finally gains adoption. But enterprises, not consumers, will be the focus.

For years, telcos have touted the potential of 5G to consumers, hoping to drive profits and recoup massive investments in infrastructure.  While 5G has realized some of its potential in markets with previously low wireless or broadband penetration rates, in other markets, especially the US, consumer demand has remained lackluster, primarily due to a lack of a killer use case for 5G.  Luckily for telco companies, a 5G application is on the horizon that should lead to adoption – with enterprise customers.  Industries such as manufacturing, agriculture, energy and commodities, and supply chain logistics, are increasingly exploring private 5G networks as a part of the backbone of new sensor networks.

  Driven by advances in IoT devices with lower costs and reduced power requirements, these sensor networks will allow organizations to gather a myriad of measurements from tens of thousands of devices in real time.  Beyond just situational awareness, the data can be combined with AI-driven systems on 5G edge computing to allow organizations to automate decision-making that previously would have to be centralized in huge operating centers.  A key question for telco companies is whether they can partner with industry adopters to provide infrastructure and services or if early adopters rely more on open-source components and in-house teams to build solutions.

China and the US fight a proxy war in the tech sector

Although the US and China remain highly linked economically, 2023 will likely see tensions between the two nations increasingly escalate, especially in the tech sector.  Already the US is seeking to move critical industries, such as semiconductor manufacturing, back to the US from China and to cut off the access of Chinese manufacturers like Huawei, Hikvision, and ZTE to US markets.  China has begun to promote alternative standards and infrastructure in areas ranging from 5G/6G in telecoms to LED light bulb manufacturing, using its global economic weight to convince developing markets in Asia, Africa, and the Middle East to adopt its technologies.  Expect the heat of the proxy war to only intensify in 2023, which may threaten supply chains, market access, innovation, and investment.

Sustainability and ethics emerge as concerns alongside security and privacy

Despite the many exciting developments in the tech industry, it is vital to ensure that these technologies are used ethically and responsibly, benefiting society.  This means addressing issues such as privacy concerns and data security and ensuring that technology is not used to perpetuate inequality or discrimination.  One of the most significant challenges facing the tech industry in the coming years is the need to address emerging technologies’ ethical and social implications.  For example, as AI becomes more advanced and widespread, there is a risk that it could be used to perpetuate bias and discrimination, particularly against marginalized communities. 

It is essential to ensure that AI is developed and used in a way that is fair, transparent, and accountable.  Another important consideration in the tech industry is ensuring that emerging technologies are accessible to everyone, regardless of socioeconomic status.  This means addressing issues such as the digital divide, which refers to the gap between those who have access to technology and those who do not.  Investing in infrastructure and programs that promote digital inclusion and provide access to technology for all is also essential. In addition to addressing the ethical and social implications of emerging technologies, there is also a need to ensure that these technologies are developed sustainably and environmentally responsible. This means addressing issues such as e-waste, which includes promoting the recycling and reuse of electronic devices and developing technologies designed to be environmentally sustainable.  

Despite the cloudy economic forecast for 2023, there is a lot to be excited and focused on for the year ahead. Developments in technology trends are accelerating at a pace never seen before. That acceleration creates both massive opportunities as well as massive risks.  Organizations, now more than ever, need to be willing to test and learn while keeping an eye out for who may be impacted and what the consequences could be.  Through the shifting sands lays a path to great value. 

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Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.