What Do Business Leaders Think Of The Trending Technologies Of 2023?

Alex Belsey

In the current environment of rapid digital transformations that are affecting businesses, entrepreneurs, and society as a whole, various tech solutions are sprouting like mushrooms.

Staying up to date with the changes can be overwhelming - especially for inexperienced business owners – yet it is vital to be aware of the ongoing technological advancements in order to thrive and remain competitive.

Thankfully, by knowing what experienced industry leaders from across a range of fields think of this fast-changing environment – and by learning from how they are reacting to it – businesspeople can thrive in this brave new world.

So, let’s see what some experts are up to and try to learn from their insights on a range of new technologies.

Trending Technology 1: Internet of Things

The growing popularity of Internet of Things (IoT) devices is seemingly unstoppable. Before the end of 2023, some analysts predict that there will be 14.4 billion IoT-connected devices, and that this will rise to 27 billion by 2025, as 4G/5G networks spread worldwide.

As Robert Johnson, Senior Director of Merchandising at Coast Appliances, says:

“Smart technology has been a big part of modern homes. We use them daily, making our lives so much easier. Without smart televisions, robotic vacuum cleaners, and other smart home appliances, modern people suffer from excessive fatigue or burnout”.

He adds that:

“The number of smart connected devices - such as smart plugs, lights, and thermostats, is rapidly growing. You can turn them into a connected device, controllable through your smartphone. These devices are especially helpful for the elderly and people with disabilities.”

IoT is increasingly being used in the corporate environment, as well as in homes. For example, for both remote workers and office-based staff, IoT devices can help to improve team communication, ease of collaboration, and overall productivity.

As Nunzio Ross, the CEO and Founder of Majesty Coffee, says:

“IoT will empower more industries. For instance, IoT devices allow food manufacturers to access and analyze real-time data to promote food safety in the food industry. IoT can be used in coffee production planning, coffee bean quality control, coffee waste utilization, and supply chain management.”

Ross further adds that:

“More businesses will explore their IoT options to improve productivity and sales while reducing the cost of operations. This tech trend will continue as small businesses scale and big companies expand into the global market.”

Trending Technology 2: AI Chatbots In Marketing

AI chatbots are designed to perform routine automated tasks, such as responding to common customer enquiries.

By using programmed algorithms that are powered by natural language processing (NLP) and artificial intelligence, chatbots can understand and simulate human conversation, allowing them to handle automated responses - which as a consequence can help to boost customer engagement, provide a faster, more satisfying response to support requests, and give valuable time back to business owners.

Tools such as ChatGPT, Bard, and other AI chatbot platforms have become an instant sensation, sending shockwaves throughout communities of content creators and marketers. And according to Milo Cruz of FreelanceWritingJobs, these disruptions are set to continue.

He says that:

“AI chatbots will change the content marketing dynamics this year and beyond. While this technology causes a huge concern among freelance writers, many of them are positive that this tool will give them more jobs and income.

“Businesses will still need humans to proofread and verify information in AI-generated content. At this point, AI chatbots have limitations because data isn't sourced in real-time. Content development processes still need the help of human writers to add more in-depth, latest data into AI content to make the article unique and engaging. Otherwise, search engine results will be flooded with low-quality, generic content.”

But will AI chatbots impact on the search engine optimization (SEO) industry? Preston Powell, the CEO of Webserv, shares that:

“SEO is an integral element of content marketing. AI chatbots and GPT-related technologies impact SEO marketing. Marketers use them to finish mundane SEO tasks, such as organizing topics, creating meta descriptions, and identifying frequently asked questions.

“AI chatbots and GPT can help search engines better understand user intent by automated query listening. These platforms can automatically generate related and relevant responses that SEO marketers can tweak to provide more helpful search engine results. Therefore, AI chatbots and GPT are powerful SEO and content marketing tools that must be added to your toolkit.”

Trending Technology 3: Solar Energy Tech In Business

The advancement in solar energy technology will make this renewable energy source more in-demand, affordable, and widespread in the near future.

For example, solar-powered streetlights will help to improve public safety and reduce carbon emissions in urban areas, as well as cut electricity costs. Furthermore, solar panels are becoming a highly sought-after energy source for charging electric vehicles.

Many companies now recognize the financial benefits of investing in green technologies too. As Sam Tabak, a Board Member of Rabbi Meir Baal Haness Charities, says:

“Solar energy and other renewables make an excellent investment for business owners looking for long-term financial savings. The returns are tenfold because businesses can boost their environmental stand to give back to the community by reducing the carbon emissions associated with using fossil fuels via the grid.”

Tabak also points out that:

“Solar power is clean and sustainable, unlike coal and gas. Monocrystalline solar panels work best for businesses since they’re made of pure silicone crystals, which can quickly convert the sun’s light into usable energy to support business operations. If all businesses will adopt solar technology, everybody wins. Aside from tax credits and government incentives, companies can attract more investors and customers because of this sustainable effort.”

These factors are attractive enough, but solar panels can provide some additional benefits for businesses, such as significantly lowering their electricity costs and carbon footprint. This all means that the solar panel and green technology industries will almost certainly continue to grow rapidly in the coming years, due to the attractive advantages they offer.

Modern Solutions For Age-Old Problems

The technological trends outlined here – and many others besides – have already proved disruptive for many industries. But as our experts have identified, they offer exciting opportunities which have the potential to make our home and work lives easier, more productive, and more convenient.

Changes are coming, then, throughout 2023 and beyond. There may be bumps in the road, but for now, let’s all try to learn from our experiences and enjoy the ride!

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I am a B2B magazine editor with an interest in politics, business, economics, sport, technology, and more. I produce articles that touch upon business, politics, marketing, and the point where these areas intersect with each other.

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