:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/thenational/Y3BWB4VEQREAJLPGKII7DQUZOY.jpg "Top 12 tech trends to watch out for in 2023")
Global spending on information technology is forecast to increase by about 5 per cent to $4.6 trillion next year as businesses accelerate the pace of digital transformation to offset the effects of the pandemic and economic uncertainty, according to Gartner.
Covid-induced market disruptions and widespread adoption of hybrid work models have fast-tracked the process.
“Economic turbulence will change the context for technology investments, increasing spending in some areas and accelerating declines in others,” said John-David Lovelock, research vice president and distinguished analyst at Gartner.
Amid the increasing digital transformation budgets and emergence of latest innovations, The National looks at the 12 top technology trends for the year ahead.
Globally, the Covid-19 pandemic spurred the adoption of digital payments, particularly contactless payments, because of heightened awareness about the spread of infection through banknotes and plastic money.
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It is easy to become numb to the onslaught of new technologies hitting the market, each with its own promise of changing (more often “revolutionizing”) the business world. But our analysis of some of the more meaningful tech trends lays out a convincing case that something significant is happening.
These tech trends are generally accelerating the primary characteristics that have defined the digital era: granularity, speed, and scale. But it’s the magnitude of these changes—in computing power, bandwidth, and analytical sophistication—that is opening the door to new innovations, businesses, and business models.
The emergence of cloud and 5G, for example, exponentially increases compute power and network speeds that can enable greater innovation. Developments in the metaverse of augmented and virtual reality open the doors to virtual R&D via digital twins, for example, and immersive learning. Advances in AI, machine learning,