As if 2022 was not challenging enough – here comes 2023! The Year of the Tiger, where we thought of being strong and courageous, will now be replaced by the Year of the Rabbit! So are we supposed to react quickly to something? Or hide? Or just be aware?
With new technologies emerging almost daily that have the potential to revolutionize our lives in ways we never thought possible, being aware is crucial in gaining that global edge. Awareness is that first step in mitigating any risk or seizing any opportunity, and the world of 2023 is set to be one full of innovation and digital transformation.
Let’s explore some of the predictions for 2023 and discuss what these innovations could mean for us all in a future where technology will continue to shape how we live, work, and interact with each other.
We could see the rise of self-driving cars. One report predicted that 33% of all vehicles on the road would be self-driving by 2023. This would be a significant increase from the 0% we have today. The adoption of this technology would be driven by two main factors: economics and regulation. The economics of self-driving cars will continue to improve, making them more desirable, and the regulatory environment will continue to change, helping to clear the way for more deployment of these vehicles.
Another innovation will likely be the rise of smart homes, driven by the integration of voice-based technologies and AI. Voice-activated technology is currently being adopted by various industries, including healthcare and home appliances. This technology will continue to grow, bringing the potential for smart home technology. Gadgets and toys, such as virtual reality gaming systems, will continue to grow and be adopted by more people. VR gaming is expected to account for approximately $35 billion in revenues by 2023.
The coming years will be defined by rapid technological change, perhaps more so than any other period in history. While it is impossible to know for sure what the future will bring, there are certain trends that we can expect to see. These include the continued proliferation of digital technology, such as AI and 5G networks; the rise of alternative financial services, such as fintech; and the increased importance of Asia in the world economy. Whether you’re communicating with customers, managing your employees’ expectations, or simply looking towards the future, it’s essential to understand what these changes mean for your industry.
You’re bound to struggle without a solid plan that outlines how you will establish a sustainable and agile business and achieve your goals in this ever-changing digital world. Are you ready to achieve a return on your innovation investment? Let GEM help!