Four technology trends that will reshape the future of business

The current economic situation may bring a lot of uncertainty to the business world, but one thing is that it will not silence the pace of innovation into the new year and beyond. While technology practices may be reimagined, we will remain focused on improving productivity and efficiency. Below we share with you four trends that will reshape the future of business.

The demand for real-time data is greater

It can be said that real-time insights are the most valuable source of information for enterprises in a turbulent environment. Long-term trends and “last month, last quarter, or last year” thinking are irrelevant when underlying business conditions change rapidly.

While processing real-time data requires more complex data and analytics infrastructure and often comes at a higher cost, in today’s fast-paced environment, there is no greater cost than missed opportunity. The latest insights enable businesses to make faster, more informed decisions by understanding what is and is not working in the business.

This helps businesses survive inflationary cycles, reduce non-functional investments, and double their earnings.

Real-time insights are critical to business agility. Agility without data relies on intuition and hunches. Crucially, real-time data can alert businesses to issues early.

As more businesses look to data to gain a competitive advantage, those with real-time data will gain a winning position. This is why demand for real-time data analytics will be high throughout 2023.

adopting a multi-cloud strategy

CIOs are worried about cloud spending, and rightfully so. Many companies have moved enterprise technology tools to the cloud in recent years, in part to save costs, and companies say those investments have yet to pay off, according to an annual technology survey. Some businesses are even seeing rising costs.

What are the top reasons for budget overruns? Cloud costs are often opaque in early deployments due to consumption-based pricing and a lack of experience with new technology models. Without experience, CIOs cannot think strategically about how to allocate IT capabilities across different cloud providers to maximize cost productivity and figure out how to make different cloud services work together.

While some cloud vendors are lowering their sales forecasts for the coming year, we believe the answer lies in adopting a multi-cloud strategy that optimizes cost productivity on a per-vendor basis.

Bridging the Big Data Divide

Those businesses that are truly data-driven have the ability to take certain actions in the face of uncertainty. That is, when faced with economic uncertainty, war, talent mobility trends, epidemics, natural disasters, and more, those businesses that are truly data-driven will thrive through informed decision-making.

While big data is primarily utilized by large businesses and governments, real-time data is now more accessible to businesses of any size. The democratization of data, putting insight in the hands of everyone through more accessible analytics tools and cloud technology, is working to create a generation of entrepreneurs who are transforming intuition into data-driven operations.

In 2023, facing tough economic headwinds, we will see more businesses of all sizes leveraging the power of data analytics to increase revenue and profit margins, effectively bridging the big data divide.

2023: The Year of Artificial Intelligence

Artificial intelligence is rapidly moving from lofty fantasy to reality, and in 2023 we will only see the use and development of artificial intelligence accelerate. Today, artificial intelligence has the ability to transform text into drawings and videos, demonstrating not only analytical capabilities but also creative capabilities. Tesla's autonomous driving system, for example, has also made huge leaps forward, showing the progress being made in image processing and edge computing.

This is only the embryonic stage of artificial intelligence. The future of AI technology will have a huge impact on the business landscape in the coming year and beyond. 2023 is likely to bring AI-based technology that personalizes enterprise software to suit the individual employee experience.

Artificial intelligence will also continue to help employees perform specific tasks better and more efficiently. Artificial intelligence holds the promise not only to increase productivity but also to enable business agility. By employing powerful AI technologies that unify data onto a single platform, businesses are able to seamlessly connect the dots between their data and people.

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