The tech industry is a highly volatile space, changing rapidly as new trends, innovations, cultures, and digital needs emerge. For instance, the COVID-19 pandemic and the ensuing mass exodus to hybrid work heavily impacted the enterprise tech landscape over the few year years. During Microsoft’s quarterly earnings report, CEO Satya Nadella announced that the company had witnessed two years’ worth of digital transformation across major commercial sectors just two months into the pandemic.
What's driving digital transformation in your organisation? Perhaps you want to be more competitive, improve operational efficiency, cut costs or set new digital standards. Whatever the reason, here are the top five IT trends you simply can’t afford to miss in 2023 and beyond:
More focus on AI and ML technologies
Business process automation (BPA) is the heart of modern enterprise-based digitisation. AI and ML techniques and disciplines, such as data science, business intelligence, neural networks, natural language processors and predictive analytics, can drastically simplify complex and day-to-day business tasks. Automation speeds up business operations and minimises erroneous human interference.
The AI market is growing at an astonishing rate as the technology gets more refined and commercialised.
5G performance figures are just mind-boggling, to say the least. Basic 5G specs include:
10Gbps data rate (up to 100 times faster than 4G)
Up to 1 million connected devices per km2
90% more energy-efficient than 4G
With such ratings, 5G promises to completely revolutionise wireless networking, making near-seamless interconnectivity, communication and automation possible. And it's already happening today. For example, Three claims its active 5G network now reaches 79% of Irelands population. Eir, Vodafone and other telecom providers in the country are also hard at work to bring 5G capabilities to the masses.
Mainstream virtual reality and augmented reality
AR and VR technologies have evolved from gaming novelties to essential business tools. The idea of simulated reality is quickly catching on in various industries, including retail shopping, social media, engineering, manufacturing, education, vocational training, tourism, medicine and architectural design. These tools are used to visualise complex scenarios, ideas, possibilities and descriptions in highly complex and interactive ways that’d otherwise be impractical or impossible in the real world.
Over recent years, data security and online privacy have come under heavy legal scrutiny, with lawmakers pushing for even tighter regulations on cybersecurity standards. Unfortunately, in addition to the increasingly stringent compliance requirements, cyberattacks are becoming ever more sophisticated and devastating. To give you a glimpse of the worrying cybersecurity landscape, almost one in every five Irish companies experienced a sysber attacker data breach in 2022.
The cloud’s reign continues
Cloud computing is nothing new in the business world. But it remains the most convenient and cost-efficient way for businesses to access cutting-edge computing resources. The cloud essentially levels the digital playing field for both large and small businesses. Flexera’s 2022 State of the Cloud Report shows a massive uptick in global cloud adoption, spending and utilisation — a trend that will definitely persist into the foreseeable future.
Try to keep up!
That wraps up our IT trends 2023 shortlist. Of course, there's much more in the tech world to get excited about, such as edge and quantum computing, blockchain, crypto, and the Internet of Things. But some of these technologies are still years away from any practical, mainstream or safe business applications.
All in all, it's crucial to keep up with new IT trends in order to maintain a sharp digital advantage over competitors. GRENKE equipment leasing and finance company can help you do just that. Our asset financing and IT equipment leasing solutions are designed to help businesses realise their digitisation vision, even when struggling with IT funding.
Talk to GRENKE today!
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Our expertise and strong market position are no coincidence. If you are a business owner looking for financial solutions in Ireland or professional financial advice on fast and flexible financing, talk to us today!