Industry executives and experts share their predictions for 2023. Read them in this 15th annual VMblog.com series exclusive.
Five technologies that will transform business in 2023
By Agustin Huerta, SVP of Studios, Globant
In 2023, businesses will need to strategically navigate the global market conditions of slowed growth and widespread uncertainty while keeping up with the quickly changing enterprise environment. Increased costs, budget limitations, and the global race for talent will lead companies to prioritize investments in technology that enable them to maximize efficiency, increase automation, and deepen their relationships with employees and customers. Here are five tech trends that will likely transform the business landscape this year.
Low-code and no-code technology adoption will increase
With businesses looking for ways to stay current on digital innovations while also minimizing the need for big investments, low-code and no-code technologies will provide a good option. In past recessions, companies put digital initiatives on hold, but the Covid-19 pandemic showed that stopping digital investments is no longer a viable solution and that companies who pull back on digital innovation will be left behind. Low-code and no-code technologies provide the quick tools needed to achieve digital advancements while spending less money for results.
Super apps will become tangible in markets beyond Asia
Gartner defines a super app as “an application that provides end users with a set of core features plus access to independently created mini apps. The super app is built as a platform to deliver a mini apps ecosystem that users can choose from to activate for consistent and personalized app experiences.” Globant sees super apps, which have gained widespread popularity and use in Asia, creating some real market noise in the U.S. and other global markets in 2023. Super apps have real opportunities in the sports and entertainment industry, where brands can take advantage of access to huge customer bases while maintaining control of their brand identity and limiting the need for marketing spend.
Specialized AI will help solve issues – and maybe create a few – in the real and virtual world
Larger adoptions of AI are coming thanks to some big improvements in image generation, training around natural language processing and a growing user comfort level. Specialized AI, which involves using AI for a specific task versus general AI, which is meant to do everything, is where AI truly excels. One big use of specialized AI on the horizon is the potential to use AI to address biases and prevent harassment in the metaverse. Specialized AI can understand interactions among avatars and predict when conversations are going in the wrong direction. AI usage will also continue to grow in the content generation area in fields such as art, fashion and literature, which can both solve challenges and create issues around questions of authorship and ownership.
Metaverse will gain more usage in both B2C and B2B environments
Metaverse is becoming increasingly applicable in the entertainment and sports worlds, with examples ranging from the NBA selling tickets for virtual seats to organizations looking to reinvent the fan experience. Companies will increase usage of the metaverse for employee training and education and other activities where simulation can improve experiences.
Web 3.0 will eventually live up to its hype
While widespread Web 3.0 adoption is estimated to be about five years away, businesses will spend the next year investing in the building blocks to enable the technology. The banking, healthcare, and higher education sectors will be early adopters of Web 3.0, attracted to its enhanced security and data control features.
In a constantly changing world, lack of innovation is a predictor of failure. In 2023, we will continue to see the business and consumer landscape rapidly transform alongside global economic and market changes. In order to cope with and succeed in this evolution, businesses no longer have the option to put technology on the back burner; instead, they need to smartly pursue technologies that allow them to streamline operations while continuing to offer new, compelling products and services. Together, these five trends will shape 2023 into a year of measured but innovative growth for businesses.
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ABOUT THE AUTHOR
Agustín Huerta is SVP of Studios at Globant (NYSE:GLOB), a digitally native company that helps organizations reinvent themselves and unleash their potential. In this role, he oversees the structure and value offering of Globant’s Studios model. Each Studio represents deep pockets of expertise on industries, the latest technologies and trends, and delivers tailored solutions focused on specific challenges. With more than 17 years of experience working in the software industry, Agustín joined Globant in 2009, where he has since helped some of the world’s biggest companies to digitally transform and launch revolutionary platforms.
