Five vital digital trends driving growth in 2023: Today, companies face significant challenges to thrive in a complex work environment and an unpredictable economic landscape. Digital technologies will continue to be critical to business operations, brand, talent and customer acquisition, and revenue growth.
The year 2022 has been focused on the skills that companies would need to succeed in a digital economy and manage the instability of the global economy and the constraints of supply and demand. Organizations must adopt the necessary tools and strategy to guard against constant uncertainty and instability to navigate the next phase of challenges.
I see several trends extending this pattern in 2023, and the following are the ones I believe have the most significant focus on helping organizations deliver value faster and more efficiently.
The five digital trends driving growth in 2023:
1. Adaptive and secure AI
As the adoption of services based on applied artificial intelligence (AI) and machine learning (ML) increases, companies will focus on making these services more generally. I plan to emphasize getting AI services up and running in line with security and risk management practices in 2023. Organizations that invest heavily in AI practices should see changes in end-user consumption habits to the economic recession. Building resilient machine learning methodologies like reinforcement learning will be crucial to success. AI practices and solid security measures will be essential to prevent harmful decisions. As data sets grow, companies must optimize and automate their data integrity and control to avoid leaks. Static code analysis and dynamic vulnerability assessments on data libraries should be dedicate to an organization’s AI development lifecycle, like the secure software supply chain, which is now mainstream.
2. Data mesh
Businesses can securely feed the data they need to their AI and machine learning models by migrating to the Data Mesh approach. This makes up for the extract, transform, and load (ETL) model and heavy administrative processes of the past to generate insights from data. The change allows data to be disseminated by allowing intelligence to meet the source of data generation. The data mesh approach changes the dynamics of customer experience and personalization. This adoption accelerates the ability to deliver enhanced and targeted products and services at the exact moment they are neede. For intelligence to significantly impact outcomes, it must be embedded into digital experiences, process automation, and partner experiences. Due to projects and initiatives focused on edge, real-time, and operational use cases, data mesh activities will move further into business and application development.
3. Sustainability in technology
Organizations are working with service providers to strengthen their FinOps strategy in response to the rapid growth of cloud computing. Forecasts show that cloud-related spending will reach $600 billion by 2023. Digital technology powered by cloud analytics and AI enables enterprises to achieve workload efficiency and sustainability. Embracing hybrid ways of working encourages companies to reduce their carbon footprint, create environmentally friendly supply chains, and contribute to the ethical sourcing and use of technology.
4. The rise of the industrial cloud
Many business leaders struggle to explain the measurable value of their technology investments. These metrics should create a clear “line of sight” between technology and business results.
Success is often measure and reporte in unappealing terms to management stakeholders. The IOC’s goals have changed due to supply chain bottlenecks, socioeconomic uncertainty, post-pandemic recovery, and manufacturing. Manufacturers may consider this bad news in 2023. Alternatively, this trend allows companies to develop entirely new revenue streams. Investment in new digital tools, business models, and revenue streams developed over the next ten years should pay off for manufacturing companies. Greater supply chain transparency and the new data set can ease the transition into new industries. These new technologies use the analyst’s vast information resources to provide industry-leading insight into the manufacturing, B2B, and service industries.
5. Modern apps
Next year there will be an increase in modern or super applications adoption by enterprises and medium-sized companies. The applications will be deeply integrate with cloud platform providers, making them scalable and extensible. Sub-applications will be built on top of super-applications and adopted as neede. Sub-applications can run on payment platforms or messaging platforms for easy consumption. Third-party integrations could also be used, making it a market-like consumption. The market is moving towards complete lifecycle standards, and it is up to industry representatives to adopt these frameworks to avoid further fragmentation.
Overall, investments in these trends will increase the ROI of 2022 initiatives, creating the next step in achieving a more strategic purpose within organizations. Increased value through talent satisfaction, coupled with demonstrable sustainability behaviors, will resonate strongly with customers, who, in turn, will become regular patrons of the organizations. Continued social listening in the tech landscape would be crucial to success in the coming months to steer investments toward impact.