Top 10 Technology Trends for 2023

Stfalcon.com
11 min readMay 31, 2023

Throughout the centuries, technology has changed how we live, and we can expect innovative technologies to help us in our daily lives. In this blog post, we will describe the top 10 future trends in technology.

Metaverse Expansion

The elusive metaverse remains an intangible realm, a product of our boundless imagination. Within its ethereal domain, it encompasses a gaming haven, a virtual marketplace, an enlightening conduit, an immersive classroom, and an uncharted avenue into the realm of digital encounters. Pioneering users and early enthusiasts are already reaping the tangible rewards bestowed by the latest technological currents.

Despite the many definitions of the metaverse, it has several fundamental characteristics:

  • full immersion;
  • interactive in real-time;
  • compatibility between platforms and devices;
  • parallel interaction with thousands of people
  • use in human activities far beyond games

An important point: there is only one metaverse. People use only different platforms, for example, Decentraland, Fortnite, Roblox, and The Sandbox, but in the ecosystem of one metaverse.

Analysts at McKinsey & Company estimate that by 2030, with consumer and business use cases, the metaverse could produce up to $5 trillion.

Whether the base case or the long-term scenario is implemented, the impact of the metaverse on the e-commerce market by 2030 could range from $2 trillion to $2 point 6 trillion. Similarly, there will be an impact on the technology trends in education — the academic virtual learning market, which will range from $180 billion to $270 billion, on the advertising market — from $144 billion to $206 billion, and on the games market — from $108 billion to $125 billion.

What Can a Business Do in the Metaverse?

Enterprising organizations that embrace the metaverse in their operational fabric can forge enduring edges in the competitive landscape. It is paramount for business pioneers to ascertain the metaverse’s applications and the specific role they aspire to assume, thereby crafting a strategic blueprint. For instance, diligent endeavors encompass experimentation, analysis, execution, result monitoring, and meticulous scrutiny of user behavior, all while fortifying the groundwork for scalability through the identification of requisite competencies and seamless integration of the metaverse within the operational framework. Furthermore, these enterprises ought to embrace the prospect of metamorphosing into metaverse participants in their own right.

Artificial Intelligence (AI)

At the heart of the expansive technology sector resides the formidable duo of artificial intelligence (AI) and machine learning, which have progressively woven themselves into the fabric of human existence as emerging trends.

These advancements empower enterprises to accomplish their objectives more efficiently, reducing time and financial constraints while enabling swift decision-making and the creation of novel and inventive offerings. Harnessing the prowess of AI in 2023, businesses can swiftly navigate a myriad of domains, making astute choices in the following realms:

  • marketing
  • electronic commerce
  • product management

This is part of the possibilities that reduce the imbalance between ideas and their implementation. Technologies that work with AI and big data have already been created, including machine learning.

These include:

  • Processing of human speech
  • Deep learning
  • Programs for automated decision-making

Spread of Blockchain

When we talk about blockchain technology, most think about cryptocurrencies such as Ethereum and Bitcoin. However, blockchain offers many types of security that can be applied in other areas.

Elections

The voting results, which are encrypted and anonymous, will be placed on the blockchain and distributed among the network nodes. This method eliminates any possibility of ballot manipulation.

Logistics

Within the intricate web of logistics, a multitude of links intertwines, forming a chain of interdependent processes. Each link in this continuum must receive validation from its predecessor, fulfill contractual obligations, and seamlessly transmit information onward. This intricate relay often consumes valuable time and possesses the untapped potential for enhanced productivity.

However, by leveraging the power of smart contracts, every participant within this ecosystem can witness progress and diligently complete their tasks within designated timeframes. Smart contracts not only provide unparalleled transparency regarding contractual terms but also fortify defenses against fraudulent activities. Furthermore, through integration with the Internet of Things (IoT), smart contracts can facilitate real-time delivery tracking. The applications of blockchain and smart contracts extend far beyond logistics, finding relevance in realms such as management, banking, insurance, real estate, IoT, and beyond.

  • Processing of human speech
  • Deep learning
  • Programs for automated decision-making
  • Open banking that provides permission to look through transactions — financial transparency
  • In cybersecurity, you can feel relaxed about your money.

Stfalcon.com was tasked with developing a software development kit (SDK) for the Android and iOS mobile platforms using Kotlin Multiplatform technology to support a crypto wallet. This approach allowed us to implement identical business models, processes, queries, internal data processing, and encryption mechanisms across all the intended platforms.

Read the full case study

Internet of Things (IoT)

Data collection with IoT devices has reached an unprecedented scale. Data science and machine learning are coming together to provide more opportunities for advanced IoT data solutions and analytics. Big data, artificial intelligence, and IoT are coming together to collect pre-structured data and build AI components. The importance of this approach will remain relevant for many years to come.

A report by Research and Markets predicts that AI and the Internet of Things will exceed $26 billion by 2025. They also demonstrate that AI improves IoT data efficiency by 25% while improving industry analytics by 42%. AI is essential at the heart of the Internet of Things and edge networks. Analyzing data generated by IoT solutions is only the first step. The role of AI in IoT systems has much greater potential.

Consider, for instance, a self-driving car with an elevated threshold for error. While ensuring passengers’ safe arrival at their desired destinations, it harnesses transit data to meticulously forecast traffic dynamics. This invaluable information can then be leveraged to construct more streamlined road networks and infrastructural systems.

Our dedicated team was entrusted with the pivotal task of crafting software capable of seamlessly interfacing with a cutting-edge smart lock. This sophisticated software aimed to facilitate effortless unlocking and locking of residential doors through commands transmitted from a smartphone. Moreover, it would enable the issuance and revocation of virtual reality passwords as per the need, facilitate automatic door opening, and empower remote control via the Internet. Our solution needed to encompass both contemporary remote control capabilities and the tried-and-true line-of-sight control paradigm.

Virtual Reality & Augmented Reality

The first attempt to create interactive devices that allow one to interact with virtual or augmented reality was attempted at the beginning of the 20th century. The concept of mixed reality (“reality-virtuality continuum”), the elements of AR and VR in the modern view, is relatively new, as well as the market for virtual and augmented reality technologies. Throughout the past three decades, the realms of virtual and augmented reality have experienced notable transformations, progressing significantly in terms of device enhancements, software advancements, and content enrichment. These advancements have propelled them to the forefront of the IT landscape, solidifying their positions as top trends.

However, their influence extends far beyond the realms of entertainment and gaming. Esteemed experts opine that virtual and augmented reality technologies, along with big data, cloud technologies, and artificial intelligence, will emerge as pivotal pillars of the forthcoming industrial revolution. Augmented and virtual reality technologies possess the potential to establish an entirely new computing platform.

The utilization of virtual and augmented reality technologies yields a wide array of benefits, including:

  • Processing of human speech
  • Deep learning
  • Programs for automated decision-making
  • accelerating and reducing the cost of learning, training, and instruction processes, as well as increasing their efficiency, lowering costs for elements and consumables needed in training, and for training personnel;
  • prevention of a threat to the health and life of employees and other people in the process of special education and training (medical operations and invasive procedures, evacuation, security, rescue in various emergencies) and the related optimization of compensation costs;
  • reducing the number of errors and speeding up the process when assembling, repairing, and operating special equipment; a significant reduction in the accident rate;
  • reduction of the cost of operating units of equipment due to the timely detection of faults;
  • acceleration of the process of designing and prototyping objects, a significant reduction in costs and time for physical modeling;
  • improving customer experience, product, and marketplace design, and a corresponding increase in sales volumes;
  • improving (simplifying) and increasing the effectiveness of communications.

Touch Commerce

The allure of shopping with ease and convenience, unrestricted by location, has enticed individuals toward the realm of online shopping. Among the emerging technologies, touch commerce stands out as a prominent contender, granting users the ability to make payments with a single touch of a fingerprint or a few gestures on the screen. By leveraging pre-existing data from trusted third-party authenticators, customers can swiftly finalize transactions, leading to a form of autonomous shopping.

This payment method ensures a high level of security, allowing users to make purchases on websites or apps without the need for user registration or login details. Authorization for the transaction is granted through the use of a fingerprint or a couple of screen touches.

Shopping applications make use of information stored within the operating system, encompassing payment card details, addresses, and contacts. This data is securely accessed through fingerprint authentication, unlocking the functionality of the app. By default, shipping is directed to the registered addresses within the operating system, streamlining the overall process.

5G Technology

5G is the fifth-generation mobile communication standard with a high Internet speed (up to 25 Gb/s) with minimal signal transmission delays (only 1–2 ms).

5G technology is applied in various fields:

  • Entertainment. Due to the high data transfer speed, 5G networks are applied in cloud gaming. Games are streamed from the “cloud” at such a speed that there is no “layer” in the form of a transmission channel. This means that there is no significant input lag (delay in control), which is critical for gaming.
  • House. 5G is associated with the smart home and the Internet of Things (IoT). Today you can find many devices that are connected to the IoT: light bulbs, sockets, locks, speakers, and household appliances. It would be helpful if you had a good connection with a high data transfer rate for everything to work in a single ecosystem without delay.
  • The medicine. With the help of 5G, a doctor can perform ultrasounds on patients from thousands of kilometers away. The doctor will receive all the information up to the tactile, as in an actual appointment.
  • Transport. 5G can help in the development of intelligent or self-driving vehicles. It will be possible to interact with smart roads, traffic lights, parking lots, and road signs. All data will be transmitted and stored in the cloud storage.

To grasp the significance of milliseconds, let’s delve into a straightforward illustration. Picture an autonomous car equipped with an autopilot system that synchronizes its coordinates with other vehicles through internet connectivity and track-based sensors.

Suppose this car is cruising at a speed of 120 km/h when a sudden emergency arises. In such a scenario, it takes approximately 700 milliseconds for a human to react. Within this critical timeframe, the vehicle will cover a distance of roughly 30 meters, a potentially life-altering span for the driver. On a 4G network, the latency would cause the car to travel approximately 2 meters before initiating any decision. However, with the advent of 5G networks, this distance could be diminished to a mere 10 to 15 centimeters, significantly reducing the margin for potential harm.

Gene editing

The realm of gene editing stirs profound excitement and sparks heated debates as one of the most contentious healthcare technology trends. But what exactly is gene editing, and what vistas does it unlock for modern biology and medicine?

Gene editing holds immense promise in the realm of treating numerous human diseases, spanning hereditary disorders, viral infections, and even cancer. Leveraging the remarkable CRISPR/Cas9 tool, researchers are making strides in treating genetic blood diseases, forging immune cells that combat cancerous counterparts, and actively exploring avenues to combat HIV. Another compelling application of gene editing lies in the creation of animals and cell cultures that serve as invaluable model organisms in biomedical research. By harnessing these models, researchers can test novel drugs and delve deep into the intricacies of various biological processes under both normal and pathological conditions, fostering comprehensive insights.

Machine Learning

Machine learning serves as the scientific underpinning that empowers AI to learn and emulate human-like behavior, continually refining its capabilities through the assimilation of real-world data. By distilling patterns and insights from exemplars, machine learning algorithms gain the ability to autonomously perform essential tasks.

Through the application of machine learning, AI systems excel at data analysis, information retention, predictive modeling, replication of established frameworks, and adept decision-making by selecting the most suitable option from a range of possibilities.

These systems prove invaluable when dealing with vast computational requirements across various domains. Examples include bank scoring, marketing analytics and statistical research, business planning, demographic studies, investment analysis, and the detection of fake news and fraudulent websites.

In the realm of marketing and e-commerce, machine learning drives personalized experiences by tailoring services and applications to offer customized recommendations. For instance, the streaming service Spotify employs machine learning to curate personalized music tracks for each user based on their individual music preferences.

Human Augmentation

Human augmentation is often confused with human biohacking, enhancement, and transhumanism. These terms are close, but there is a difference.

  • Human enhancement: improving the human body and its performances
  • Biohacking: Biohacking, also known as human enhancement, is the phrase used to describe the self-improvement of the human body using technologies.
  • Transhumanism: is a philosophical movement about the biological boundaries of the body.

Human augmentation entails the extension or incorporation of additional functionalities into the human body. This concept finds relevance primarily within professional settings.

Human augmentation revolves around the capacity to enhance physical or cognitive abilities through the integration of technological advancements into the human body. Wearable devices such as smartphones and smartwatches serve as prime examples of how we can augment our innate capabilities.

A technological manifestation of human augmentation is replication, which involves replacing certain parts of the human body. A noteworthy player in this market is Naked Prosthetics, a tech company specializing in the development of finger prosthetics for individuals who have experienced accidents or amputations. Their innovative solutions impact the lives of those in need, offering enhanced functionality and improving quality of life.

Closing Thoughts

The constant evolution of technology is reshaping our lives, and these ten transformative technology trends are set to revolutionize our daily experiences with intelligent products.

Machine learning finds application in security systems, such as the face recognition technology used in subways. As individuals enter or exit the subway, cameras capture their faces, which are then compared against a database of wanted individuals using analytical engines. If a high similarity is detected, the system triggers an alert.

AI services are already being integrated into medical institutions, enabling advanced processing of patient data, preliminary diagnosis, and even personalized treatment recommendations based on individuals’ specific medical conditions.

If you seek to embark on a life-changing project, consider partnering with our esteemed company, Stfalcon. Our team of experts is poised to assist you in bringing your visionary ideas to fruition. We offer a free consultation.

Originally published at https://stfalcon.com.

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Stfalcon.com

IT company designing custom web services and mobile apps. Our goal is to create useful and convenient software. We are the founder of the Air Alert app