We’ve come to synonymise big tech companies, and even start ups, with big money and big investments. However, in 2022 we’ve seen a decline in profits, a halt on investments and much less risk taking.
Tech Takes A Hit
Following a turbulent period through COVID-19 and the slowing of motions that came along with it, the threat of war and a global energy and cost of living crisis, we’re beginning to see more evidence of business taking a hit. 2022 has seen reduced spend across the board and significant redundancies for many, but tech companies have been hit particularly hard.
In 2023, we seem set for a year of innovation as leaders look to streamline processes and solutions in order to stabilise businesses and avoid even more redundancies and liquidation.
What To Watch In 2023
So how will we realign the focus of tech in 2023? Essentially, cutting costs and cutting corners in order to save industries, make profit and ensure sustainability is the only way forward.
With an inevitable recession looming, companies of all scales will be looking to cut costs. If the pandemic has taught us anything, it’s that remote working can work. The technology already exists for us to communicate and manage work effectively, and there is still scope to expand the world of online working even further. But by taking this step, there are significant costs which can be cut, such as rental space and energy bills, without cutting staff.
And there’s no denying that flexibility is in demand. A healthier work-life balance has become essential for the modern worker and businesses are running out of excuses not to offer that.
As more and more workers are taking ownership in demanding better conditions, 2022 has been the year of industrial action within the UK. From postal workers to train drivers, there has been a seismic shift in demand for better working conditions, pay and benefits.
One sector which is making a large-scale impact is Healthcare. With staff shortages already causing issues, it is estimated that we will still need almost half a million jobs filled in next decade. Nurses and doctors are becoming increasingly unhappy with conditions of pay and pensions and so are considering alternative careers.
To ease the strain, investing in new technology could be detrimental. From assisting treatments to streamlining hospital systems and simplifying medical and staff training, there is enormous scope for tech to dominate the industry. VR, AR and XR are already being implemented across the healthcare sector as a new and effective form of ‘hands on’ training. Research Markets have already predicted that the market for AR and VR could see a 22.5% compound annual growth between 2023-2027.
Ai is also leading the movement and is anticipated to continue to do so in healthcare. It is already being widely used for patient treatment plans and detection of certain conditions. The scope for new Ai technology in this sector is enormous, and with the pace the technology is moving at, we won’t be surprised to see it dominate in the next decade. However, it’s important to acknowledge that technological advancements won’t solve the crisis.
As we desperately shift towards a more sustainable future, the world of farming is heading towards a brand-new look. New technological advancements such as climate-controlled Vertical Farming are increasingly being implemented to also make work more economically viable as we enter a new year and are expected to take off in 2023.
Ai Is King
But the biggest shift in technology is certainly set to be in Ai. In 2022, we have seen its capabilities explode. to the point where it can now even create specific code on demand and answer questions with ChatGPT, write unique copy with platforms like Jasper AI and create images from any kind of prompt with DALL·E.
Which tech trends are you excited for in 2023? We’re all about using technology to stay ahead, your website should be no exception. If you’re looking for ways to elevate your 2023, get in touch today.