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11 tech trends you can expect to see in 2023

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tech trends 2023

After a rollercoaster of events in 2022, the tech world is looking to 2023 with anticipation. Let’s explore what new trends and innovations this year will have in store. The ever-evolving technology space has proven that changes happen quickly and it’s time to assess what these developments mean for businesses around the globe. CB Insights provides an insightful peek into potential shifts within technology–so let’s take a look at all that’s on offer for the coming months!

1. Tech companies are taking a crack at selling longevity

With the advent of ever-advancing Artificial Intelligence (AI) technologies and genetic analysis capabilities, tech companies are rapidly forging ahead in their pursuit to unlock the secrets of longevity. With a generation eager for age-defying solutions, technology entrepreneurs may soon be rewarded with lucrative revenue streams from people hoping to live healthier lives as they grow older. Companies have already begun exploring various approaches such as altering cellular processes, regenerating body parts, discovering new drugs, and providing anti-aging supplements that go beyond mere cosmetic enhancements. 

increasing lifespans

2. There’s going to be a massive clash of super app-level platforms

Embarking on a mission to become the go-to digital platform, tech giants are stretching their boundaries further than ever before. From search and social media for discovery, payments, and messaging for transactions and authentication, as well as direct product or service delivery – these companies seek nothing but domination in 2023 by controlling more of customers’ online lives. With progressions such as this comes massive monetization potential that is too tempting to overlook.

3. The prospect of a recession looms especially large for fintech

The current economic climate is presenting stiff challenges to the fintech industry. Many are already deploying innovative tactics such as expanding products and services beyond financial areas into other sectors while concurrently targeting enterprise buyers more ardently than ever before. A successful outcome is certain for those businesses that embrace creative reinvention and rise above the challenging market conditions and discover new opportunities for growth in a changed landscape. 

fintech loosing dominance in VC

4. Tech leaders and startups are exploring how robots can operate safely in the home 

Technology leaders and entrepreneurs are now looking to utilize AI, sensors, and robotics to revolutionize the home. In 2023, tech giants will begin vying for dominance in this upcoming market as upstart companies look to make their own mark on consumer experience.  

According to CB Insights, the current value of the robots industry is $22 billion.

5. Decentralized energy systems are picking up traction 

With the pressing need for renewable energy and heightened grid stability, decentralized energy systems are becoming increasingly popular. Due to variability in renewable sources like wind farms and solar panels, virtual power plants (VPPs) offer an efficient way to manage distributed resources such as residential solar power, large-capacity batteries, and more, enabling reliable integration into electricity grids. 

6. Ambient health monitoring will go beyond standard remote patient monitoring approaches 

In 2023, health monitoring is set to move beyond traditional remote patient monitoring (RPM) approaches. A modernized take on RPM technology would allow for data to be collected via less invasive devices in real-time – enabling virtual care as well as proactive treatments that focus on improving overall outcomes. By establishing an environment with connected sensor solutions, patients can enjoy the benefits of continuous engagement while providers gain valuable insights into their condition.

7. Smell tech is making significant progress

The application of smell technology is set to make a significant impact in many industries, such as food and retail, over the next year. Despite the complexity involved with digitizing scent, developments are offering fresh ways for us to explore our world through flavor prediction or identifying hazardous materials. The power of odor analytics platforms will be further strengthened by AI models in 2023.

8. The women’s health space continues to expand

The women’s health space is bustling with many startups aiming to improve primary care, fertility, and mental well-being. However, it appears as though a rising number of companies are now focusing their attention on the often-overlooked area of menopause care. As momentum continues to grow in this niche sector over the next two years – watch out for such startups becoming increasingly popular among both consumers and investors alike due to growing competition seeking access into an underrepresented market. 

womens health

9. The boom of bio-based materials

Companies are boldly embracing a future of fashion that takes advantage of sustainable sources from nature. With an impending recycled plastic shortage, more and more companies are turning to bio-based materials as alternatives for reducing their reliance on single-use plastics. Mushrooms and seaweed have become the building blocks for next-generation fabrics and products that strike the perfect balance between style, performance, and sustainability.

10. India’s tech ascent

With India projected to become the world’s third-largest economy by 2030, venture capitalists have identified it as an attractive opportunity in which to invest. This is due to numerous factors such as an expanding tech sector and the increasing number of billion-dollar unicorn companies originating from within the country.  

As India’s technology sector continues its rise and presents investors with more lucrative opportunities for high-profile exits through mature companies, this may be the perfect time for ambitious investors to take advantage of what the Indian market holds in store.

11. Brands and food giants turn to regenerative agriculture

In 2023, investor attention is likely to be focused on startups offering tech-based solutions for regenerative agriculture. These include advanced technology such as computer vision, supply chain management platforms, and geospatial imaging which will become increasingly sought after. The heightened awareness amongst consumers of the sustainability initiatives behind products is encouraging retailers to highlight regenerative agricultural processes in order to demonstrate their commitment to climate-focused measures. 

In 2023, markets will continue to adjust in response to this economic uncertainty – but with remarkable advances being made at breakneck speed, some segments won’t feel any slowdown whatsoever.  

Source: CB Insights 

Read next: Clarivate names top 100 global innovators 2023

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