13 Industry Experts Predict Rising Business Technology Trends in 2023

Since the beginning of the Covid-19 pandemic, business technology seems to have evolved and expanded at an incredible rate. While the immediate impact of the pandemic is starting to fade, business technology is expected to continue to evolve, with new tools and priorities that will change the way businesses make decisions, interact with customers, manage data and more.

Knowing what’s coming can help business leaders identify trends that could affect their industry and potentially improve their bottom line. Below, 13 industry experts from Forbes Technology Council share their predictions for the business technology trends that will dominate headlines and executive meetings in 2023.

1. Decision-making based on machine learning and artificial intelligence

They are not new, but I believe they will break new records: machine learning and artificial intelligence. Every day we acquire more data about the world, and store that data. But reading and using it is getting more and more complicated. ML and AI will play a more powerful role in data-based decision-making in business, healthcare, and environmental research. Five years ago, its adoption was limited, but I believe since 2020 it has become more affordable globally. -Nadya Knysh, a1qa

2. Intelligent facilities

Smart facilities (buildings, venues, etc.) that continuously monitor and score health, sustainability, and quality of life will emerge in 2023 and shape the construction and property management industries for years to come. ESG regulations and people’s demand for a high standard of living will drive the development of real estate technology and health, safety and security technology to new levels. – Spiros Liolis, Micro Focus

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3. Business Analyst with a Data Science Credential

In 2023, we will see more business analysts with data science credentials. If we move towards a future where anyone in an organization can find and connect to the data they need to use, we will blur the lines between business operators and data professionals. Data scientists will be brought back into business and analysts will be upskilled with data science certifications. – Lewis Wynne-Jones, ThinkData Works

4. Digital twin

The understanding and use of digital twins will increase significantly if businesses understand the potential they offer. Combined with other consistent technologies such as AI, ML and Metaverse, digital twins can become a critical and essential function for enterprises looking to develop greater business resilience through technology in their operations. – Mark Brown, British Standards Institution (BSI)

5. 5G

I would like to see an increase in the availability and reliability of 5G networks, especially in currently lagging markets outside the US. This will have a major positive impact on businesses, as many are now hiring remote team members who are often located in markets with poor internet quality, which inevitably affects their work and communication with the rest of the team. -Peter Abualzolof, Mashvisor

6. Internet of Things

An increasingly prominent business technology trend is the increasing use of IoT frameworks in our daily lives. With the increasing ubiquity of mobile devices and the advent of artificial intelligence, it is only a matter of time before more and more devices, from our home offices to our cars and public spaces, are connected and automated, creating value in new ways. -Marc Fischer, Dogtown Media LLC

7. Social Commerce

Social commerce will rise in 2023. With the proliferation of social media platforms and increased use of mobile devices, more and more people are buying and selling products and services through social media channels. As various social media platforms start to create more embedded end-to-end shopping features, customers can complete their purchases on one platform. – Bhavin Patel, CT Corporation

8. Artificial intelligence as a service

AI-as-a-service will gain even more prominence in 2023 as more companies integrate AI into their products and services. AIaaS includes off-the-shelf AI tools and services, enabling companies to implement and scale AI technologies at a fraction of the cost of building in-house AI tools. AIaaS will help more companies with limited resources adopt AI without spending a lot of money. -Somdip Dey, Nosh Technologies

9. Virtual Universe

“Metaverse” is an umbrella term futurists use to describe the “next level” of the internet. With this emerging technology, we can interact with brands and other consumers through fully immersive technologies, including 3D environments and virtual reality. We may also use our own avatars to describe our products and services. – Cristian Randieri, Intellisystem Technologies

10. Web3

In 2023 Web3 will emerge as a utility, not a gimmick. As more industries and businesses identify and understand the use cases for this wave of new technologies—from tokenization of customer engagement (e.g., digital collections and loyalty programs) to future-proof payment platforms for digital assets, Web3-related technologies Will be part of the core solution for many companies. – Kevin Lehtiniitty, Fortress Web3 Technologies

11. Efficiency

We appear to be heading towards an increasingly volatile environment that will require a focus on efficiency. This drive to improve efficiency will not only focus on technology choices and core competencies, but will also be reflected in business operations and staffing. – Boyan Ivanov, StorPool Storage

12. Composability

In most organizations, the data needed to create delightful digital experiences for customers is spread across many systems. The required data or system integration time is long, technically complex and fragile. Gartner predicts that by 2023, 60% of companies will have a composable enterprise as their strategic goal. – Emmanuel Ramos, OZ Digital Consultants

13. Standardization of medical technology

Standardization provides the necessary foundation for innovation. For example, in the healthcare industry, digital health has come under regulatory pressure to standardize health record formats through FHIR. Through 2023, standardization will continue and technology will become more integrated into the healthcare ecosystem. With technology, we can deliver better health outcomes. -Nicholas Domnisch, EES Health

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