As a business owner, you need to stay abreast of the curve to keep your business competitive. With that in mind, here are five top tech trends you need to be aware of for 2023.
1. Rise of the Metaverse
The Metaverse is a shared virtual world where users interact with each other and with digital content using avatars. It’s a cross between a massively multiplayer online game and a virtual reality world.
The Metaverse is already starting to take shape with the launch of platforms like Facebook’s Oculus Rift, HTC Vive and PlayStation VR. But 2023 is when the Metaverse is expected to really take off, with big players planning to launch their own platforms.
As a business owner, you should begin considering how you could take advantage of the Metaverse, and how it may impact your business. For example, you could use the Metaverse to create virtual showrooms or to hold virtual events.
You could use it as a way to connect with customers and partners in a more immersive way or to extend your products to virtual offerings.
2. AI everywhere
Artificial intelligence (AI) is already used by many businesses in different ways, from customer service chatbots to automated ad buying to maximise marketing returns.
In the last year we’ve seen a huge surge in content generation, with tens of thousands of businesses now using AI to write marketing and sales copy.
AI is expected to become even more important in 2023, with businesses of all sizes using AI to improve efficiency and better understand and serve customers.
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Consider how you could use AI to benefit your business. For example, to automate tasks, increase your marketing output or improve and extend customer service. Can you start experimenting today?
3. Decentralisation of finance
The financial sector is being disrupted by a wave of ‘Fintech’ startups innovating beyond traditional finance.
This isn’t just cryptocurrencies like Bitcoin, which offers new ways to buy and sell. Innovative new platforms are emerging offering rolling lines of credit, loan crowdfunding, product presales and fractional share investment.
You now have more options for funding your business than ever before, and it’s worth exploring these options to see if they better suit your needs. At worst they offer opportunities to negotiate better deals with your current financial partners.
4. Zero trust
Zero trust describes a security model where businesses don’t automatically trust employees or customers.
Instead, businesses verify identity before granting access to data or systems. Verification can be done in multiple ways, such as using passwords, biometrics or two-factor authentication.
Zero trust is a more secure way of doing business, reducing the risk of data breaches and security threats.
As data grows in importance for your business, it’s important to consider whether you need to adopt a zero-trust model to mitigate growing risks of data theft and ransomware.
5. Power yourself
This involves adopting renewable energy to power your business so you’re less reliant on external power suppliers like the grid.
It mitigates the disruption that outages or fuel shortages can have on your operations while improving your green credentials as a business.
This is also considered a more cost-effective way of powering your business, as the cost of renewable energy is expected to continue to fall. Plus it can help you win customers who are looking for lower carbon emission suppliers as the realities of climate change take hold.
Are you able to move to the use of solar/wind plus batteries to reduce your grid dependence (cutting the business cost of blackouts and your energy bills)?
Can you use electric vehicles and machinery rather than relying on diesel and petrol?
By Craig Thomler
ABOUT CRAIG THOMLER:
Craig is the COO and Co-Founder of reKnow Pty Ltd: reKnow.io
Craig has worked in digital since 1995, cofounding some of Australia’s first successful internet-based businesses.
Joining the Australian Public Service in 2006, he led national digital initiatives before stepped out in 2012 to consult to businesses and agencies on digital marketing and engagement.
In 2017 he took a senior role at Accenture leading large digital transformation projects before returning to the startup world in late 2020.
After cofounding reKnow as one of Australia’s first full-service AI companies, he now develops and implements leading AI solutions for Australian businesses.
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