Today, businesses across the industry face significant challenges to ensure they thrive in a tough work environment and unpredictable economic landscape. Digital technologies will continue to be critical to business operations, brand, talent and customer acquisition, and revenue growth.
The year 2022 has seen a focus on the skills businesses would need to succeed in a digital economy and manage the instability of the global economy and the constraints of supply and demand. To navigate the next phase of challenges, organizations must adopt the tools and strategy necessary to guard against ongoing uncertainty and instability.
I see several trends extending this pattern in 2023, and the following are the ones I see as having increased focus that will help organizations deliver value faster and more efficiently.
The five digital trends driving growth in 2023:
1. Adaptive and Secure AI
As the adoption of applied artificial intelligence (AI) and machine learning (ML)-based services increases, companies will focus on making these services mainstream. I plan to put more emphasis on operationalizing AI services in line with security and risk management practices in 2023. Organizations that invest heavily in AI practices should see changes in consumer habits end users due to the economic downturn. Creating resilient ML methodologies such as reinforcement learning will be key to success. AI practices coupled with strong security measures will be essential to prevent harmful decisions. As data sets continue to grow, companies will need to streamline and automate their data integrity and governance to prevent data leaks. Static code analysis and dynamic vulnerability assessments on data libraries should be dedicated to an organization’s AI development lifecycle. Like the secure software supply chain, which is now becoming widespread.
2. Data mesh
Businesses can safely power the data they need for their AI and machine learning models by moving to the Data Mesh approach. This compensates for the extract, transform, and load (ETL) model and heavy administrative processes of the past to generate insights from data. Change enables data to be disseminated by allowing intelligence to meet the source of data generation. The data mesh approach changes the dynamics of customer experience and personalization. This adoption accelerates the ability to deliver enhanced, targeted products and services at the exact time needed. For intelligence to have a meaningful quantifiable impact on results, it must be embedded into digital experiences, process automation, and partner experiences. Overall, data mesh activities will move further into business and application development as a result of projects and initiatives focused on operational, real-time, and edge use cases.
3. Sustainability in technology
Organizations are working with service providers to strengthen their FinOps strategy in response to the rapid growth of cloud computing. Forecasts show that cloud-related spending will reach $600 billion in 2023. Digital technology powered by AI and cloud analytics is enabling businesses to achieve workload efficiency and sustainability. Embracing hybrid ways of working encourages businesses to reduce their carbon footprint, create environmentally friendly supply chains, and contribute to the ethical sourcing and use of technology.
4. The rise of the industrial cloud
Many business leaders struggle to explain the measurable value of their technology investments. These metrics should create a clear “line of sight” between technology and business outcomes.
Success is often measured and reported in terms that are unattractive to management stakeholders. The IOC’s goals have changed due to supply chain bottlenecks, socio-economic uncertainty, post-pandemic recovery and manufacturing. Manufacturers may consider this bad news in 2023. Alternatively, this trend offers companies a chance to develop entirely new revenue streams. Investment in new digital tools, new business models and new sources of revenue developed over the next 10 years should be beneficial for manufacturing companies. Increased supply chain transparency and the pool of new data available can facilitate the transition to new industries. These new technologies use the analyst’s vast information resources to provide industry-leading insight into the manufacturing, B2B, and service industries.
5. Modern apps
Next year, there will be an increase in the adoption of modern apps or super apps by enterprises and midsize businesses. Applications will be deeply integrated with cloud platform providers, making them scalable and extensible. Sub-apps will be built on top of super apps and adopted as needed. Sub-applications can run on payment platforms or messaging platforms to facilitate consumption. Third-party integrations could also be used, making it market-like consumption. The market is moving towards whole-lifecycle standards, and it is up to industry representatives to embrace these frameworks to avoid further fragmentation.
Overall, investments in these trends will increase the ROI of 2022 initiatives, creating the next step in achieving more strategic purpose within organizations. Increased value through talent satisfaction, along with demonstrable sustainability behaviors, will resonate strongly with customers, who, in turn, will become regular patrons for organizations. Continued social listening in the tech landscape would be key to success in the coming months to steer investments towards impact.
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