Though 2022 was controversial and full of ups and downs, it has outlined potentially beneficial areas for business development. It prepared the ground for revolutionary changes in business operations, workload and data management, professional interaction, financial activities, and analytics. The cutting-edge digital trends that could define 2023 are various, from disruptive innovations in Web3 and NFT to blockchain-based cybersecurity and AI development. As statistics show, 71% of German CEOs intend to expand the use of technology, especially cloud and AI solutions, in their companies. At the same time, 76% of global CEOs are ready to invest in automating processes and systems. Today we will highlight the top innovative technologies you should definitely pay attention to this year if your goal is to thrive and develop your business.
According to a recent survey, 37% of American professionals engaged in marketing and advertising, and 35% of those in the technology sphere used Generative AI to facilitate their work-related tasks. Germany is one of the largest countries in Europe that attracts the most AI professionals. It created all conditions for the formation of such AI startups as Lengoo, Deepset, E-bot7, and many others, which are focused on automating communication, translation processes, NLP implementation, simplifying workflows, and enhancing corporate content.
Generative AI is a variation of artificial intelligence that implements ML models to provide new content based on existing textual, visual, audio, and video materials. Its main distinctive feature is that it looks human-created. The adoption of generative AI has completely changed how people interact with technology and machines. And one of the most notorious, causing vivid debate in the online community, is an OpenAI-launched chatbox ChatGPT. It reached the mark of 1 million users within five days of its launch (November 30, 2022). The range of its functionality is impressive, from simple writing texts and answering questions to writing college essays, coding, and debugging. So, it’s no surprise that many companies want to exploit it for business purposes. Such technology provides an opportunity to build more customised experiences, enabling businesses to adjust their products to clients’ priorities and habits. Moreover, it would be exciting to observe how it can help developers write and review code or how it generates lists with tasks for a specific purpose for a particular employee.
The Internet of Things (IoT) is a physically connected object network that communicates through software, hardware, system networks, and other technologies. In a broader sense, it is the idea of ordinary interconnecting devices and the Internet. We can also speak about Industrial IoT, which unites machines, analytics, cloud computing, and employees to enhance business processes.
Based on the data presented in the Market Research Report, the global IoT market is expected to grow from US $ 303.3B (2021) to US $ 650.5B (2026). Germany is among the Top 5 countries with the highest revenue in IoT for 2023. The EU plans to invest up to €95.5 million to research and implement innovative IoT technologies to assist Europe’s digital development by 2027. The COVID-19 pandemic consequences, drastic changes in the world market, and the global impact of Russian aggression in Ukraine have given impetus to the decisive breakthrough in the development of IoT. The world has seen that studying and working remotely is possible and even convenient. We just need steadily connected devices. Statista states that 14 billion connected devices will have appeared worldwide by 2024. It will impact data processing and memory handling. Virtual computing systems will help reduce power consumption and improve data gathering, storage, and editing. Companies are ready to invest in IoT tools and devices that can analyze and visualize vast amounts of collected data. Other advantages of the Internet of Things include the following:
Minimization of human efforts. Devices that operate together and communicate with each other can perform a range of functions without human involvement.
Enhancing security. A person can automatically arrange a variety of manipulations with the system by constantly checking digital and physical facilities and gathering data from local computers and hardware systems.
Saving time. The data, which is constantly updated, is accessible from any location in a variety of ways.
Increasing efficiency. The appropriate monitoring system can significantly boost profitability and productivity through such services as asset management, individual order tracking, delivery management, supervision tracking, etc.
Computer resources are made available to Internet users as an online service thanks to a technology known as cloud computing, which allows distributed processing of digital data. People don’t need to buy physical servers; their only need is to create demand, and the same resources will be offered online on a rental basis. In Europe, the cloud computing market is predicted to reach €560 billion in 2023. The range of services and products offered to clients varies and comprises storage, developer tools, analytics, and calculations. At the same time, more than 45% of respondents who live and work in Europe admitted the European Union’s dependence on “external actors” in cloud computing and AI.
In the coming years, we will observe a growing demand for cloud-based tools to meet the needs of the hybrid work model. Enterprises will only partially return to the traditional way of organizing working processes and invest more in DaaS. Businesses search for simple solutions to simplify employees’ life and work by providing access to systems and products from any place and device. Also, companies are turning to industry cloud platforms that offer a pre-integrated solution corresponding to the specific needs of the vertical market. According to a recent Gartner poll of North American and European-based businesses, up to 40% of respondents had already begun adopting industry cloud platforms, and 15% planned to. Enterprises may accelerate return on investment and develop distinctive digital products thanks to the blend of SaaS, PaaS, IaaS, tailored features, and tools that address specific industry use cases.
Customers tend to stop utilizing outdated techniques and technologies supporting scalable cloud-based solutions. So, providers of such services will be in demand due to cloud solutions’ affordability, ease, and reliability.
Cybersecurity is becoming a higher priority for businesses with the advancement of cloud solutions and increased interconnection between applications and devices. Cost of Data Breaches Report 2022 by IBM revealed that while breaches at companies that hadn’t started cloud security measures cost approximately USD 4.59 million, those at mature-stage companies cost USD 3.87 million. AI platforms, incident response (IR) adoption, and a DevSecOps strategy were those factors that provided the highest cost reduction compared to the average cost of breaches in 2022. Speaking of the most vulnerable European countries, the Netherlands saw the highest rate of cyber attacks (57%), followed by France (52%) and Spain (51% ). Germany takes fifth place with 46% of cyber attacks, the average cost of which in 2022 was about €18,700. This is less than in 2021, demonstrating improvements in IT security. However, this figure is still higher than the global average (about €15,000).
Businesses should focus on providing their customers with improved data security and privacy programs because consumer trust is based on dependable data use. A company must demonstrate proficiency and offer reliable ways to handle privacy issues to retain its clients. As a result of the gradual global shift from workplaces toward our current work-from-home model, the protection of enterprises’ sensitive data will also come to the fore. Providers and developers concentrate on improving the security aspects of cloud-management systems, offering organizations strong encryption and best practices for authentication.
Blockchain-based cybersecurity, which has already proven its highly beneficial impact on the decentralized and secure sharing of information, will be used more for a larger number of businesses. Blockchain offers total transparency for information, records, and data storage because it is a decentralized database. As a result, it can guarantee that the data is trustworthy and transparent. Companies welcome the opportunity to cut their costs in the long run and reduce face-to-face interaction.
Changes are inevitable. They are the key to innovations and the emergence of new technologies. The previous few years laid the foundation and impeded the development of many disruptive technologies that had greatly influenced many business sectors. We have focused on four that, as our team of experts states, will dictate the rules for the coming year. Our top-notched software developers and tech specialists have deep knowledge in these areas and are ready to implement custom solutions in your business process. To get familiarized with their application and the benefits they bring to your company, do not hesitate to contact us.