2023: The Year Transformation Spreads Its Wings
2022 has been an interesting year, to say the least. And as life settled into the new normal, technological innovations became exponentially more important in our daily lives. 2022 was a hallmark year in technology-based industries, from the 5G rollout to artificial intelligence (AI) popularization. And 2023 is promising to be just as, if not more, exciting. Experts expect significant strides in technological development across all sectors.
Intelligence Reshaping Industries
2022 is ending on a high note as people gravitate towards AI-based software for entertainment, notably chatbots and art generators. As a result, AI and machine learning (ML) will take center stage in 2023. This technology is getting integrated into every device we interact with, from handheld devices to smart home products.
Furthermore, experts and researchers expect intelligent tech to evolve large language models (LLM), tools that read, summarize, translate texts and predict the following words in a sentence. LLMs for natural language processing (NLP) will improve to the point that their use will become more mainstream. Hopefully, a pre-trained model requiring little modifications will be available for the public.
Moreover, AI will have its debut in biotech. A fascinating application of AI in this sector is AI-based drug discoveries. The intelligent tech utilizes vast data sets to efficiently, cheaply, and quickly identify patient response markers and develop viable drug targets. But nothing in this world lasts without credibility or validation. 2023 will feature countless clinical trials so the technology can earn credibility.
A Move Toward Decentralization
In the past year, blockchain broke all barriers and made a movement on its own. The hype behind this decentralized technology sets the foundation for something bigger than we could ever imagine. Skeptics question the hype behind this technology, but even they cannot deny the fact that blockchain goes beyond what is publicly conveyed. Blockchain technology could change our lives, and there’s no use denying that. Web3 technology, specifically blockchain, cannot be considered just a thought, a concept in the tech scene. Its value goes beyond what meets the eye, and experts are firm believers that this technology and what tags along with it is set to make drastic changes in 2023 in terms of benefits over traditional systems, lower costs, higher security, better transparency, and much more.
Indeed, in 2023, there are plans to modify Blockchain data-sharing system architectures to empower users to better grasp their ownership over their data. And so, users will “own” their data, deciding who has access to it. On the one hand, this nugget of technology is essential for the future, especially if healthcare goes virtual. On the other hand, the advertising and social media sectors will take a significant hit as they rely on the exact data that blockchain aims to protect. Win some, lose some, right?
One of the most significant selling points of blockchain is its decentralized nature. And 2023 is looking at taking full advantage of it. Experts are looking into creating decentralized and “trustless” ecosystems. In such ecosystems, trust is not placed in one person but in a community of users. Blockchain application aims to restore faith in several civic and private institutions.
Blockchain has proven helpful for secure and decentralized information exchange. Consequently, experts are looking into turning cybersecurity blockchain-based, reducing the expenses of implementing the technology.
Shaking the Financial Market
Since the introduction of the technological finance branch, the sector has been different. With every cycle of innovation, fintech gets more advanced. 2023 is no different, all to meet the customer’s needs. Let’s look at embedded finance. While it’s not new, professionals believe that the ecosystem of embedded finance is set to grow this coming year significantly. Through this technology, companies can offer complete offerings throughout a customer’s journey to increase customer satisfaction and business revenue.
Furthermore, alternative finance is expected to grow by 20 percent in 2023. This financial innovation refers to financial services created outside of traditional banks. This sector has introduced cutting-edge products and fresh thinking methods to corporate borrowing. The non-bank providers use fintech to deliver and enhance practical forms of funding in many different areas, including insurance, business loans, and much more.
The Age of Medtech
It is a known fact that the COVID-19 pandemic has forever altered how we view medicine, from doctor/patient interactions to quality of care. The rarer the illness is, the more isolated you feel. Your entourage cannot fathom what you are going through, and the odds of knowing someone going through the same are disappointingly low. Today, however, we are seeing virtual communities emerging and flourishing. Several companies have already created virtual communities. These communities are set to expand and thrive in 2023 as they play a crucial role in comprehensive patient care.
Parallel Shift in Cybersecurity
The more digitally advanced the world becomes, the more imperative it is for everyone involved to tighten their cybersecurity. 2023 is a big year for secure access service edge (SASE), a framework for network architecture. This architecture brings cloud-native security technologies and wide area network (WAN) capabilities to securely connect users, systems, and endpoints to applications and services anywhere. This innovation reduces IT costs and complexity, provides a fast and seamless user experience and reduces risk in the new reality of distributed users and applications.
As a result of the adoption of SASE relying on the adoption of Zero Trust Network Access (ZTNA), ZTNA will also spread across networks and systems. Simply speaking, it is a set of technologies enabling secure access to internal applications for remote users. Its security benefits make it attractive, including an invisible infrastructure keeping remote users away from the corporate network. Furthermore, it gives the team more control and visibility through a centralized admin portal with granular controls.
Impacting Business Goals
Every new year brings us further into the digital age. 2023 promises exciting new ventures and additions to pre-existing technologies. We’ll see more practical uses of AI as it keeps gaining more traction and popularity. Furthermore, out of all Web3 technologies, blockchain has proven to be a secure way for data sharing. Its implementation is looking to benefit the users more than the providers, which is always a bonus. In addition, the fintech industry is set to make tremendous strides in 2023 as embedded and alternative finances are becoming increasingly mainstream. Not to forget the medtech sector, this industry is thriving as great minds keep expanding the services it can provide, including virtual communities to lessen the burden of some illnesses and promote solidarity during scary times. Finally, since the world is becoming more digitally forward than ever, protecting ourselves and, by extension, our businesses is essential. 2023 is shaping up to be a year of great prosperity and creativity. The human mind is a beautiful creation that knows virtually no limitations and can bring solutions, innovations, and inventions that further the whole of humanity.
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