Pandemics, inflation, geopolitical unrest, supply shortages, blockades, etc. have all occurred on a worldwide scale in recent years.
Amid this turbulent environment, businesses are at a tipping point, ready to implement innovative technological solutions that will help them weather the storm and emerge stronger than before.
We take a look at the technological developments that are shaping the corporate landscape in 2023.
Digital Twins
For a while now, digital twins have been establishing themselves as one of the most promising developments in technology, particularly in the business world. To achieve more precise goods, save costs, or foresee probable faults, they are not simply digital duplicates of items, locations, physical systems, or processes.
They also provide new opportunities for testing and recreating, for instance, the behaviour of an industrial facility to ensure it meets safety standards.
With the help of point clouds, physical objects can be digitised, information can be segmented and tagged, supply chains can be established and optimised, processes and equipment can be automated with the help of other technologies like AI, safety can be enhanced, quality control and predictive maintenance can be improved, and so on.
With the help of this technology, we may experiment with different configurations of the parts we care about in virtual space until we find the optimal one. Building, flying, healing, and teaching will all benefit greatly from the increased efficiency and decreased expenses that this brings about.
Blockchain to redesign trust
Online transactions between two parties have traditionally been handled by a third party that validates the information using a single, centralised database. Blockchain technology’s distributed ledger structure, on the other hand, eliminates a centralised authority’s monopoly on power and makes data storage encrypted and resistant to theft.
Decentralization paves the door for new forms of commerce, communication, and business, as well as the automation of formerly manual processes, leading to a significant increase in digital assets.
In light of Gartner’s prediction that the commercial value contributed by this technology would increase to more than $176 billion by 2025, its use has spread beyond the banking industry and into other areas traditionally associated with cryptocurrencies.
Blockchain is inspiring new ways of doing business by facilitating the rapid verification of financial transactions, thwarting attempts at fraud and cyberattack, and enhancing overall efficiency, dependability, and security. Consequently, in the next years, it will be essential for businesses to enhance data tracking, develop new billing systems, host patents, monitor sales processes, safeguard medical data, etc.
IoT for a hyperconnected world
Now more than ever, sensors and networks of linked devices from the Internet of Things (IoT) play a crucial role in developing cutting-edge technologies like digital twins, the metaverse, smart machines, and the cities of tomorrow.
Despite the proliferation of smart gadgets in both the home and workplace, difficulties in coordinating their use have arisen mostly because of incompatibilities between various operating systems and software. It is for this reason that 2023 has been designated as the year to establish universal standards and procedures for improved international communication.
In order to boost productivity, cut down on production costs, identify new business prospects and consumer trends, and encourage product innovation, Internet of Things technology gathers and analyses data generated by industrial machinery.
Forecasts predict that over 50 million IoT devices will be in operation by 2023, and we are just at the beginning of what is possible. Through the collection and analysis of more data, this will result in a vast network of linked devices that improves safety, productivity, and choice-making in enterprises.
AI and Security
Securing the data transmitted across smart grids will be a major topic in 2023, and it is closely related to IoT devices. Businesses will prioritise bolstering the safety features of these gadgets, and AI will play a vital role in this effort.
The advent of 5G promises enhanced connectivity and quicker data transfers. By automating decision-making processes and generating patterns from incomplete or manipulated data, AI and Machine Learning provide a more preventative approach to security solutions.
Algorithms that are trained on reliable threat data are able to improve their detection times, accuracy, ability to foresee the emergence of new threats, and support of more secure protocols.
In order to better prepare our client’s security systems, we at Plain Concepts have implemented a project that use reinforcement learning methods to run tests, learn how to attack, test those systems, and learn from their own failures. Furthermore, we are a National Cryptologic Center of Spain Guidelines Implementing Entity. We play a vital role in bringing about changes in response to security issues, which in turn strengthens national cybersecurity and makes the internet a more trustworthy and secure place for everyone.
Quantum Computing
It’s one of the hottest new movements, and it’ll affect our lives in fundamental ways.
It’s a method of computing that makes use of quantum phenomena like entanglement and superposition. It may be used to stop the spread of viruses like the coronavirus, create novel vaccinations, and monitor financial fraud and risk.
Large IT corporations like Microsoft, Amazon Web Services, and Google are investing heavily in research and development related to quantum computing since these machines are far quicker than traditional computers. In fact, by 2029, their worldwide market sales are projected to top $2.5 billion.
Metaverse
This development has now become a staple topic of discussion when looking towards the future of the IT industry. The economic potential of this setting is considerable, with projections of $800 billion by the decade’s midpoint and $2.5 trillion by 2030. Despite Meta’s difficulties in developing its ambitions, the metaverse, in its original form, offers promising prospects for businesses in the areas of social presence, remote employment, payments, healthcare, goods trade, etc.
Many businesses are already capitalising on this setting to innovate their goods, create a new brand identity, and forge stronger bonds with their customers. One of the most promising aspects of Industry 5.0 is the industrial metaverse. Capturing and digitising the physical world, gaining insight and enhancing data in digital settings, and accomplishing sustainable goals while optimising costs are just a few of the many possible uses.
Sadly, this online world that seamlessly integrates the digital and physical realms is still light years away from our current reality. Nevertheless, we are just scratching the surface of its potential, and it will radically alter the ways in which we live and work.
Superapps
It results from integrating a platform and digital ecosystem into a single software product. Like a Swiss army knife, it would include many tools in one that serve the same function but may be detached or added as needed.
They are both built on the same platform, which allows for a variety of services and the development of unique, interactive, and comprehensive interfaces for their respective users. In fact, they allow for the incorporation of workplace experiences on both desktop and mobile devices, including workflow, collaboration, and messaging systems.
Support for chatbots, IoT-powered technologies, and VR/AR environments like the metaverse will gradually increase.
Robotic Process Automation (RPA)
In the commercial world, RPA (Robotic Process Automation) automates tasks including application interpretation, transaction processing, data management, and email response. RPA is closely related to AI and ML.
The primary benefit is the automation of formerly human-performed, repetitive operations; this frees up workers’ time and energy to be applied to higher-value, higher-yield activities. It’s less likely to make mistakes, saves money, boosts profits, and shortens the duration of tedious jobs.
That’s why it’s so helpful in fields like finance, customer service, and human resources, where it can be used to gather and store a wide range of data.
New Energy Solutions
The energy crisis we’re now in is double down on our determination to implement environmentally friendly business strategies. By fusing them, we may create new formulations to cut down on our ever-growing reliance on hydrocarbons. Therefore, the condition may be improved by the use of appropriate technologies.
Predictive maintenance made possible by AI is a huge boon for the renewable energy sector, particularly for wind and solar power. By spotting irregularities and anticipating breakdowns, businesses may save a lot of money.
One of the best prospects for the energy transition and for cutting down on the emissions that sectors like transportation emit is green hydrogen. Our floating wind technology takes use of the wind, rejuvenating coastal towns and positioning power generation close to where it is needed.
Sustainable Technologies
It was also included in our 2022 predictions for technology, and rightly so, since it has evolved into a meta-trend that includes many others.
Many businesses have made significant organisational changes in recent years, with an emphasis on cloud migration, process optimization and automation, CO2 emission reduction and monitoring, and other green initiatives.
Artificial intelligence (AI), blockchain (blockchain technology), cloud computing (cloud computing), extended reality (ER), and robotics (robotics) are just few of the technologies that are making it possible to build a sustainable future without compromising productivity and economic expansion.
