The information age is the period in which we currently reside. Every day, new technology emerges to make life easier, more efficient, and better for everybody. Today, the rate of technological evolution is nearly exponential. New technology assists businesses in lowering costs, improving customer experiences, and increasing revenues.
As technology advances, solutions that were useful yesterday may no longer be relevant today. As a result, keeping up with the latest technological advancements is more crucial than ever.
Here are the key technological developments to follow in 2023.
1. Artificial Intelligence is Everywhere
37% of enterprises and organizations use AI. Moreover, nine out of 10 prominent companies are investing in AI technology.
Artificial intelligence will become a reality in 2023, and ChatGPT is only one example of how the corporate world will soon advance with the existence of AI.
Businesses that have embraced technology attest to its capacity to produce continually new products and services. AI has replaced low-value repetitive labor to perform high-value operations, supporting doctors, architects, and even developers in automating critical processes.
2. Growth in Web3
In 2023, blockchain technology will also grow dramatically as businesses develop more decentralized products and services.
For example, we currently store everything on the cloud — but if we decentralize data storage and encrypt that data using blockchain, our information will not only be secure, but we will also have new methods to access and analyze it.
This year, non-fungible tokens (NFTs) will become more efficient and valuable. For example, NFT tickets to concerts may include access to backstage experiences and collectibles. In addition, NFTs may represent the keys we use to engage with many of the digital items and services we purchase or may represent contracts we enter into with third parties.
3. The Integration of the Physical and Digital Worlds
We are currently witnessing the formation of a link between the digital and physical worlds, and we expect this pattern to continue in 2023. This merging has two components: digital twin technology and 3D printing.
Digital twins are online simulations of real-world processes, activities, or products that may be used to test novel ideas in a secure digital environment. Designers and engineers are employing digital twins to reproduce tangible products within virtual environments, allowing them to test under any possible situation without incurring the high expenditures of real-world experiments. Even more digital twins will be present in 2023, including those for automobiles, machines, and industries.
Engineers may modify components after testing them in a virtual environment, then use 3D printing to produce them in the actual world.
4. Nature is Becoming More Editable
We shall live in a world where we can alter materials, plants, and even humans. Thanks to nanotechnology, we will be able to produce materials with totally new properties, such as water resistance and self-healing capabilities.
CRISPR-Cas9 has been in existence for a few years, but gene editing technology will now accelerate in 2023, giving us the increasing power to “edit nature” by modifying DNA.
Gene editing is similar to word processing in that you can remove certain words and replace them with others — but you can now do it with genes. Gene editing can be used to rectify DNA mutations, solve the problem of food allergies, improve crop health, and even change human features such as eye and hair color.
5. Green Technology Development
One of the most pressing concerns today is reducing carbon emissions to address the climate problem.
In 2023, expect to see continuing advancement in green hydrogen, a new clean-burning energy source with near-zero greenhouse gas emissions. Shell and RWE, two major European energy corporations, are building the first significant green pipeline from North Sea wind plants.
There will also be advancements in the establishment of decentralized electricity systems. Using this model, distributed energy generation creates a network of small power producers and storage placed in neighborhoods or individual residences, allowing them to function even when the primary grid is down. Large gas and energy firms currently dominate our energy system, but decentralized energy initiatives can democratize electricity while reducing carbon emissions globally.
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