LEADING TECHNOLOGICAL TRENDS FOR 2023:

Investing Trends in Technology for 2023: 5 Dec. 19, 2022
Businesses and investors are keeping an eye on five technological trends related to data sharing in the industrial, insurance, healthcare, digital infrastructure, and resource planning sectors.

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Important conclusions:

• Numerous industries require technological solutions that enable the extensive sharing of data, opening doors for M&A and public and private investment.
• Industrial businesses are spending money on technology that automates, maintains, and digitises their physical assets.
• Technology developments in insurance may lead to the next fintech.
• Healthcare organisations are looking for ways to increase productivity and patient outcomes.
• The digital landscape will change to accommodate the enormous and expanding data requirements.
• Trends to watch in enterprise resource planning and human resources include artificial intelligence, cloud computing, and security.

1.Developing Digital Connectivity in Industrial Companies:

In the automobile, energy, and construction industries, industrial organisations are just beginning to adopt systems that assist in managing physical assets and link dispersed elements of value chains.

With such solutions, there are many chances for industries to boost productivity. According to Bjoern Crombach, a Morgan Stanley banker who specialises in industrial software, useful connectivity solutions for an energy company, for instance, could provide a summary of all physical assets as well as functions like pipeline safety notifications that automatically assign workers to investigate and address issues. If a car manufacturer wants to maintain manufacturing, technology might automate restocking paint when the supply runs low.

According to Crombach, industrial businesses need software to help them manage the various phases of their daily operations. Private

2.The Future of Fintech: Insurtech:

According to Ares, the insurance sector (also known as “insurtech”) is further along in the technological development process than the industrial sector is since the industry has been using software applications more frequently for five years. According to him, “a sizable number of insurtech enterprises have arisen with strong revenue growth and appealing profitability.”

Investors want to know if insurtech has the potential to overtake fintech. With the goal of facilitating cost reductions and efficiencies in claim processing, risk assessment, and policy underwriting, insurtech technology combines data analysis, the Internet of Things (IoT), or physical devices, and artificial intelligence (AI). Fintech has been the poster child for demonstrating the value of networks that connect and manage resources thanks to the widespread adoption of open banking and payments apps over the past ten years.

3.Infrastructure Trends in the Digital Age:

The need for all sorts of digital infrastructure, particularly fibre, data centres, and mobile towers, is increasing dramatically as a result of data consumption by businesses and individuals. As lower-cost capital sources grow more at ease with the possibilities for future growth, this has also recently led to high levels of M&A activity and values.

However, Max Thiele, a Morgan Stanley banker who specialises in digital infrastructure, noted that the current macroeconomic scenario is a test for the asset class: “While the demand for quality assets is high and the investment case for digital infrastructure remains extremely strong, corporations and investors are closely examining the impact of inflation, electricity prices, and the danger of recession, particularly if and how certain cost drivers may be passed through.”

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Let’s talk about the main technological developments

1. Machine learning and artificial intelligence (ML)   

 A decade ago, artificial intelligence, or AI, began to increase in popularity. In 2021, it will still be one of the top technologies because it hasn’t slowed down. AI is continually changing, and more and more novel uses for this technology are appearing. The most widely used AI applications now include voice assistants like Siri and Alexa, navigational software, image and speech recognition, and many others.

In order to gain insights and pinpoint triggers, businesses are attempting to leverage AI to analyse customer and business interactions. They would be able to better allocate resources to diverse initiatives and forecast demand for services like hospitals or tourism.

AI includes machine learning (ML).

2. Automated Robotic Processes (RPA)

In order to automate commercial operations including data collecting and analysis, customer support, and other repetitive tasks formerly performed by human processes, robotic process automation (RPA) uses a variety of software and apps.RPA is a quickly developing technology that automates several jobs in numerous industries, much like AI and Machine Learning. Fewer than 5% of employment today can be fully automated, but almost 60% can be mechanised at least partially, according to a McKinsey analysis.

Numerous new career paths and opportunities are provided by RPA, including those of a programmer, project manager, business analyst, or consultant. Additionally, it opens up opportunities for high-paying careers at prestigious companies with a low learning curve. Making a career decision based on this technology might be very profitable for you.

3.Third-Edge Computing

Millions of data points are currently gathering user data from social media, websites, emails, and web searches, among other sources. Other technologies, like cloud computing, struggle when the amount of data collected grows exponentially in several ways.

Cloud computing was one of the fastest-growing technologies up until ten years ago. However, it has gained some public acceptance, with big firms like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform controlling the industry.

As more businesses embraced cloud computing, they came upon a number of its disadvantages. Bypassing the latency that cloud computing creates, edge computing enables businesses to quickly transport data to a data centre for processing. It can exist “on edge,” meaning that it.