Get Ahead of the Curve: 10 Business Trends to Keep an Eye on in 2023
If your business survives the next decade, it will likely look very different from how it does today. With digital transformation and the rise of companies like Amazon, everything about how we do business has already changed, and it’s going to keep changing in the coming years as well.
To make sure you can keep up with the latest trends in business and get ahead of the curve, you’ll want to keep an eye on these 10 business trends to watch out for in 2023.
1) Collaborative robots will become smarter
Machines are becoming smarter and more adaptable, which makes the partnership between people and machines more important than ever. Though technological advancements have always been accepted with mixed feelings, digital intelligence and online collaboration is being given a fair chance.
2) Digital intelligence will help make humans smarter
In order to continue our evolutionary process, humans will need technology and machines. By working together with artificial intelligence, humans can increase their intelligence by leaps and bounds.
From online education courses that make learning available to anyone with an internet connection, to smarter machines replacing tedious work tasks, these trends are good for everyone involved. In order to stay ahead of the curve, you should explore every possible digital opportunity available.
3) AI will go beyond facial recognition
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Online platforms will become increasingly more personalized and targeted with AI. This includes our preferences and physical information that might be important, like eye color or hair color.
There will be an increased focus on the quality of photographs, as a way to judge who we are when we first meet someone online. When it comes to dating, users may create filters based on their desired match in order to reduce the clutter from other potential matches.
4) Global expansion will become more strategic
The increased demand for global products and services has led many companies to consider expanding into overseas markets. But as globalization becomes more prevalent, competition will rise, and not every company will be able to maintain its market share. That’s why next year’s top international business trends are all about strategic decision-making and forward thinking.
5) Tech giants will be less interested in hardware
Mobile phones and other mobile gadgets have seen a decline in manufacturing, signalling the waning interest on hardware by tech giants like Apple and Samsung. IoT connectivity continues to grow, with more homes and businesses expected to integrate technology such as video cameras, Wi-Fi lights, smart home hubs, televisions. Advertisers will also continue advertising heavily on social media platforms like Facebook or Twitter.
6) Virtual Reality and Augmented Reality will become indistinguishable
Virtual Reality and Augmented Reality have been around for a while now, but what’s new are advances in mixed reality – a term used to describe technology that overlays virtual images on real life.
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This approach offers VR and AR users an opportunity to interact with virtual images more naturally, giving them unprecedented flexibility and collaboration. Mixed reality will come into its own as the next level of immersive technology.
7) Blockchains could fundamentally change how contracts are written
Blockchains could fundamentally change how contracts are written by making the process more efficient, secure, and transparent. The blockchain removes intermediaries such as lawyers and notaries so contracts will be easier to create, store, and access.
This would also create a record that is visible to everyone which would make it harder for people to commit fraud without consequences. Although many questions about this technology remain, it has enormous potential for innovation and efficiency on an international scale.
8) 5G internet becomes mainstream
5G is being developed for mobile telecommunications and new wireless systems. By 2025, an estimated 1 billion devices will be transmitting on 5G networks. This rapid growth makes it very important that companies understand the importance of investing in 5G equipment today or risk being left behind when it becomes mainstream.
9) Alternative sources of energy are discovered, developed, and adopted quickly
The alternative energy industry is one that’s thriving, with so many new discoveries and developments. Solar energy has been getting more popular lately because it’s cost-effective, renewable, and cleaner than traditional forms of energy.
Most notably, nuclear power is on the decline due to safety risks and environmental issues. It seems that more sustainable ways are being found thanks to innovative research and development.
10) China will maintain its innovative edge over other countries by funding start-ups with huge sums
China’s attractiveness as a global economic player has been growing rapidly over the past decade, most notably with its renewed emphasis on innovation.
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Chinese businesses are now investing billions of dollars a year on domestic start-ups. The government’s ambition is to replicate Silicon Valley’s success by funding innovators with huge sums so they can dream up game-changing innovations.
