In this feature, we look at some of the most prominent tech trends for 2023 and how businesses could benefit from them.

A Dozen Key Tech Trends 

Here are as dozen key tech trends to watch this year.

1. Satellite mobile connections and satellite broadband are expected to become more widely available in 2023. This is thanks to the launch of new constellations of low-orbit satellites that will provide internet access to remote and underserved areas around the world. Additionally, these satellites will provide a more reliable and stable connection than traditional satellite internet, which can be affected by weather and other factors. Satellite broadband, such as that provided by Elon Musk’s Starlink, could be a way to eliminate many of the ‘not-spots’ in remote UK areas which could benefit the businesses and residents of those areas. For example, as part of Project Gigabit, the UK government recently announced a trial of Starlink satellite broadband in the Lake District as part of wider plans to connect the UK’s highly remote areas.

2. Artificial Intelligence (AI) is expected to continue to advance in 2023, with new breakthroughs in natural language processing, computer vision, deep learning, and other areas. This will enable more sophisticated applications, such as self-driving cars, and more powerful decision-making tools.

3. Edge computing: Edge computing is a distributed computing model in which data is processed at the edge of the network, closer to where it is generated, rather than in a central location. This will become increasingly important in 2023 as the amount of data generated by devices and sensors continues to grow.

4. Internet of Things (IoT): The IoT, the interconnectedness of everyday devices, such as smartphones, appliances, and vehicles, through the internet is expected to continue to grow and evolve this year. The IoT will be used to add more value and save costs for businesses, e.g. by improving efficiency and automating more processes in manufacturing, agriculture, and energy.

5. 5G networks: The rollout of 5G networks is expected to accelerate in 2023, providing faster internet speeds, lower latency and more reliable connections. This will enable new applications and services, such as augmented and virtual reality, plus the Internet of Things.

6. Electric boats are another trend to watch out for in 2023. As awareness of the need to reduce carbon emissions continues to grow, electric boats are becoming an increasingly popular alternative to traditional gasoline-powered boats. They are more energy-efficient, produce fewer emissions, and can be powered by renewable energy sources such as solar and wind power.

7. Drones for people and cargo, such as electric vertical take-off and landing vehicles (eVTOLs), are expected to become more prevalent in 2023. These types of drones are designed to take off and land vertically, like a helicopter, but are powered by electricity rather than fossil fuels. They have the potential to revolutionise transportation by allowing for faster and more efficient movement of both people and goods.

8. Deepfake, the technology that enables people to generate highly realistic images and videos of people who both do and do not exist. In 2023, this technology is expected to advance to the point that it will become increasingly difficult to distinguish real images and videos from fake ones. This presents both opportunities, such as the ability to create more realistic avatars for businesses (and special effects in films), yet also the potential for misuse, such as the spread of misinformation and fraud.

9. Fusion electric is a technology that generates electricity by fusing together atoms of hydrogen, just like the sun. This process releases a large amount of energy, which can then be converted into electricity. While fusion electric technology is still in the early stages of development, it has the potential to be a game-changer, providing a virtually limitless source of clean energy. A recent milestone in this field was when researchers obtained more energy out of a nuclear fusion reaction than they put in, for the first time ever.

10. Quantum computing: While still in early stages of development, quantum computers have the potential to solve problems that would be impossible for classical computers to solve. In 2023, quantum computing is expected to become more widely available and accessible, enabling new breakthroughs in fields such as cryptography and drug discovery. In addition to the promise of companies being able to access quantum computing as-a-service, there is however also the ‘quantum apocalypse’ threat. This refers to the unspecified point in the future where someone (e.g. threat actors or a foreign power) has a functioning quantum computer that can break the kind of encryption that we trust to secure our data, transactions, and communications.

11. Autonomous vehicles: Self-driving cars and other autonomous vehicles will become more common in 2023. Advancements in AI, machine learning, and sensor technologies are making it possible for vehicles to operate with less human input, providing benefits such as increased safety, reduced traffic congestion, and lower fuel consumption.

12. Biotechnology: Biotechnology is expected to continue to advance in 2023, with new breakthroughs in areas such as gene editing, synthetic biology, and regenerative medicine. This will enable new treatments for diseases, as well as new approaches to food production, environmental remediation, and more.

Other Tech Trends That Could Help Businesses In 2023 

Some of the other tech trends that could be of particular interest or help to businesses this year could be:

– Further advancements in cloud computing: Cloud computing allows businesses to store and access data and applications remotely, rather than on their own physical servers. This can provide cost savings and increased flexibility, as well as enabling new business models, such as Software as a Service (SaaS) and Platform as a Service (PaaS).

– Cybersecurity: As the number of cyber-attacks continues to rise, businesses will need to focus on protecting their networks and data. In 2023, businesses will be investing more in areas such as threat intelligence, multi-factor authentication, and artificial intelligence-based security.

– Digital twins: A digital twin is a virtual representation of a physical asset, such as a building, factory, or aircraft. By simulating the behaviour of the asset, digital twin technology can be used to improve design, optimise performance, and reduce downtime.

– Chatbots and conversational AI: Chatbots and conversational AI are becoming more advanced and can be used to improve customer service, sales, and other business processes. They can assist with tasks such as answering customer inquiries, handling payments, and providing personalised recommendations.

– Robotic process automation: Robotic process automation (RPA) uses software robots to automate repetitive and mundane tasks such as data entry, document processing, and customer service. This technology can help businesses to be more efficient, accurate and reduce human error.

– Blockchain: Blockchain is the distributed ledger technology that enables secure and transparent transactions without the need for intermediaries and has enabled the growth of cryptocurrencies. In 2023, businesses in sectors such as finance, supply chain, healthcare, and logistics will increasingly adopt blockchain technology to enable secure, transparent, and tamper-proof transactions.

– Extended Reality (XR): XR technology encompasses Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). By 2023, this technology will enable businesses to create immersive experiences that can be used for training, product visualization, and marketing.

What Does This Mean For Your Business? 

Based on these and other tech trends, 2023 looks like being a year of potentially significant technological advancements for businesses which could help them to add value, save costs, increase efficiencies, work smarter and ultimately become more competitive.

In the transport and logistics worlds, advancements in drones (for people and cargo), electric boats and autonomous vehicles could provide faster and more efficient movement of both people and goods in a more environmentally friendly way. Tech trends like fusion technology hold incredible promise but still have some way to go with major challenges to overcome. For many businesses, however, AI, Edge computing (and quantum computing further down the line), as well as progress (albeit still slow) with 5G networks could provide new opportunities for automation, optimisation, and problem-solving. Also, of particular interest and value to businesses this year and in the near future may be how chatbots and conversational AI can improve their service and save time and costs while advancements like robotic process automation could help them to be more efficient, accurate and reduce human error.

Many businesses may also benefit from greater use of cloud computing developments. Although the trend of deepfakes will also continue to evolve, providing opportunities for realistic special effects in films, businesses should be aware of the potential misuse of this technology, such as the spread of misinformation. Overall, the technology trends of 2023 will present both challenges and opportunities for businesses and it is important to be aware of these advances and adapt accordingly.

Although figures show no bank robberies last year in Denmark, it appears online banking fraud and other forms of digital crime are now replacing the traditional ‘hold-up’.

Why No Bank Robberies? 

It is believed that the recent Danish bank association ‘Finans Danmark’ figures showing no physical bank robberies in 2021 compared to 221 back in 2000, for example, may be down to number of changes in society and banking in recent times. It is believed that the reasons include:

– The move to a cashless society meaning that banks are holding much smaller stocks of cash. For example, cash usage across Scandinavia has now fallen to below 10 per cent.

– Fewer banking branches outside of larger towns and cities limiting the options for criminals.

– Changes in the banking market, e.g. banking as a service (BaaS) replacing traditional banking.

– The effects of COVID 19 restrictions hastening a move away from cash. For example, greater use of contactless payments, online banking and mobile wallet channels, acceleration of the take-up of digital payments, and more businesses shifting to accepting (only) contactless payments from customers.

– Criminals opting for less risky options such as banking fraud and other forms of digital crime.

Bank Robberies Zero … But Online Fraud Surging !

The figures from Denmark appear to show that as well as bank robberies now being less feasible, physical robberies are being replaced and overtaken by less risky, highly lucrative, and more flexible digital financial crimes such as online fraud and bank transfer fraud. This is not just a trend localised in Denmark. For example, in the UK, UK Finance reported a 70 per cent rise in Authorised push payment (APP) fraud in the first six months of 2021 (£355m).

How Technology Is Changing Banking 

One of the key ways that technology is changing the banking world is through creating Banking as a Service (BaaS). This is a model that allows third-party companies, such as fintech startups and other non-financial firms, to offer financial services to their customers using the infrastructure and licenses of a traditional bank. BaaS providers typically offer APIs (Application Programming Interfaces) that enable their clients to integrate banking functionality, such as account creation, deposits, withdrawals, and payments, into their own products and services.

The BaaS model is often seen as a way for traditional banks to stay competitive in an era of rapid technological change, as it allows them to offer new and innovative services without having to invest in the necessary infrastructure and technology themselves. It also allows non-financial firms to enter the banking sector and offer financial services to their customers without having to obtain the necessary licenses and regulatory approvals, which can be a time-consuming and costly process.

BaaS can offer new opportunities for customers as well. It allows them to access a wider range of financial services through a single platform, rather than having to navigate multiple different platforms. It also provides a more seamless experience for the customer as they can access banking services without having to leave their current platform.

Additionally, BaaS can also provide opportunities for better and faster innovation in banking, as fintech firms are able to access bank infrastructure and offer new services and features more quickly than traditional banks might be able to on their own.

It’s worth noting that BaaS is still in an early stage and it’s a model that will evolve in the near future, with many players entering the market and creating new possibilities for traditional banking and other industries to intersect.

What Does This Mean For Your Business? 

We are now moving rapidly towards a cashless society, a trend that was accelerated by the pandemic as businesses switched to contactless and expanded e-commerce and accepted more digital payments. Add to that some major shifts in the banking market, e.g. a growth in online banking and mobile wallet channels, BaaS replacing traditional banking, plus the remaining physical bank branches containing little cash as a result of these factors and it’s easy to see why physically robbing a bank is no longer as attractive as less risky alternatives.

For example, as has been the case for several years now, criminals prefer less risky yet highly lucrative online fraud and other digital financial crimes, aided by data breaches. It is important, therefore, that businesses and other organisations that criminals now attack with multiple methods (e.g., ransomware, phishing / APP) make their data and online security a priority. As consumers too, we all need to be aware of the many risks (phishing, malware, and more) that could lead to us becoming victims to fraudsters and cyber criminals so as to ensure that we are at least taking basic but trusted measures to protect ourselves.

Looking at this question in two parts, here we’ll be firstly looking at the pros and cons of opting for outsourced IT support.

The Popularity Of Outsourced IT Support 

A considerable number of businesses in the UK now use outsourced IT support, as outsourcing has become a popular way for businesses to access specialised expertise and reduce costs. For example, in 2021, a widely reported survey (Tony Blair Institute for Global Change) showed that two-thirds of UK firms were planning to outsource the same or more of their IT services within the next two years, with the manufacturing (59 per cent) and financial services (46 per cent) sectors looking to outsource the most.

Why? – The Benefits 

Some of the key benefits for businesses of outsourcing their IT support include:

– Cost savings: Outsourcing IT support / opting for managed IT services can be a much more cost-effective route than having to hire and manage an in-house IT team, especially for small businesses that may not have the resources to support a full-time IT staff.

– On-demand expertise: IT support companies have a team of highly skilled IT professionals who can provide a range of IT services, including troubleshooting, network management, security, help with planning and more. Having on-demand expertise from specialists with up-to date knowledge can add value, save time, minimise disruption, help maintain business continuity, and help steer a business away from costly errors and can create new opportunities.

– Scalability and flexibility: Businesses can scale up or down their IT support needs as needed, depending on their current needs and budget. This can be especially useful for businesses that experience seasonal fluctuations in demand. Outsourcing IT can, therefore, help save costs and help with competitiveness. Outsourced IT support can be more flexible than an in-house IT team, as businesses can choose the level of support they need and can adjust their service levels as needed.

– Keeping a focus on core business: By outsourcing IT support, it frees-up more time and resources so that the businesses can focus on its core competencies and leave the management of the IT infrastructure to the experts.

Possible Drawbacks 

In the interests of providing balance to this article, some of the possible drawbacks that businesses may want to consider before opting for outsourced IT support / managed IT services / and outsourced IT helpdesk could, for example, include:

– Control issues: It’s tempting to think that when you outsource IT support, you may have less control over the service you receive, as you are relying on an external company to provide those services.

– Possible communication issues: There may be communication barriers and difficulties coordinating with an outsourced IT support team, especially if they are located in a different time zone.

– Security concerns: There may be security concerns when outsourcing IT support, as you are entrusting sensitive data to an external company. However, with IT security being part of their expertise, outsourced IT support companies take steps such as adhering to industry-standard security practices, e.g. ISO 27001, to protect customer date, use secure communication channels to communicate with customers, offer security guarantees, implement strict access controls (e.g. multi-factor authentication), and much more to maximise security.

– Dependency: Some businesses worry that they may become dependent on the outsourced IT support provider, which can be risky if the relationship is terminated or the provider experiences difficulties or could be costly if prices go up.

What Does This Mean For Your Business? 

Outsourcing IT support has become a popular choice for businesses in the UK due to the cost savings, on-demand expertise, scalability, and flexibility it offers, all very valuable benefits to growing businesses in today’s fast moving, inter-connected, highly competitive digital word. While there may be some potential drawbacks to consider, such as control issues and security concerns, these can be addressed through careful planning and the use of reputable IT support companies that follow industry-standard security practices. Overall, outsourcing IT support can allow businesses to focus on their core competencies and access specialised on-demand expertise, while still maintaining a competitive edge and minimising costs.

Looking at this question in two parts, here we’ll be firstly looking at the pros and cons of opting for outsourced IT support.

The Popularity Of Outsourced IT Support 

A considerable number of businesses in the UK now use outsourced IT support, as outsourcing has become a popular way for businesses to access specialised expertise and reduce costs. For example, in 2021, a widely reported survey (Tony Blair Institute for Global Change) showed that two-thirds of UK firms were planning to outsource the same or more of their IT services within the next two years, with the manufacturing (59 per cent) and financial services (46 per cent) sectors looking to outsource the most.

Why? – The Benefits 

Some of the key benefits for businesses of outsourcing their IT support include:

– Cost savings: Outsourcing IT support / opting for managed IT services can be a much more cost-effective route than having to hire and manage an in-house IT team, especially for small businesses that may not have the resources to support a full-time IT staff.

– On-demand expertise: IT support companies have a team of highly skilled IT professionals who can provide a range of IT services, including troubleshooting, network management, security, help with planning and more. Having on-demand expertise from specialists with up-to date knowledge can add value, save time, minimise disruption, help maintain business continuity, and help steer a business away from costly errors and can create new opportunities.

– Scalability and flexibility: Businesses can scale up or down their IT support needs as needed, depending on their current needs and budget. This can be especially useful for businesses that experience seasonal fluctuations in demand. Outsourcing IT can, therefore, help save costs and help with competitiveness. Outsourced IT support can be more flexible than an in-house IT team, as businesses can choose the level of support they need and can adjust their service levels as needed.

– Keeping a focus on core business: By outsourcing IT support, it frees-up more time and resources so that the businesses can focus on its core competencies and leave the management of the IT infrastructure to the experts.

Possible Drawbacks 

In the interests of providing balance to this article, some of the possible drawbacks that businesses may want to consider before opting for outsourced IT support / managed IT services / and outsourced IT helpdesk could, for example, include:

– Control issues: It’s tempting to think that when you outsource IT support, you may have less control over the service you receive, as you are relying on an external company to provide those services.

– Possible communication issues: There may be communication barriers and difficulties coordinating with an outsourced IT support team, especially if they are located in a different time zone.

– Security concerns: There may be security concerns when outsourcing IT support, as you are entrusting sensitive data to an external company. However, with IT security being part of their expertise, outsourced IT support companies take steps such as adhering to industry-standard security practices, e.g. ISO 27001, to protect customer date, use secure communication channels to communicate with customers, offer security guarantees, implement strict access controls (e.g. multi-factor authentication), and much more to maximise security.

– Dependency: Some businesses worry that they may become dependent on the outsourced IT support provider, which can be risky if the relationship is terminated or the provider experiences difficulties or could be costly if prices go up.

What Does This Mean For Your Business? 

Outsourcing IT support has become a popular choice for businesses in the UK due to the cost savings, on-demand expertise, scalability, and flexibility it offers, all very valuable benefits to growing businesses in today’s fast moving, inter-connected, highly competitive digital word. While there may be some potential drawbacks to consider, such as control issues and security concerns, these can be addressed through careful planning and the use of reputable IT support companies that follow industry-standard security practices. Overall, outsourcing IT support can allow businesses to focus on their core competencies and access specialised on-demand expertise, while still maintaining a competitive edge and minimising costs.

Here we look at the new technologies could lead to a more environmentally friendly and ‘cleaner’ shipping industry, and we look briefly at promising clean tech innovations for air freight.

The Challenge 

With 90 per cent of global trades transported by sea, traditional cargo ships are responsible for a significant portion of the world’s carbon emissions i.e., the international maritime sector produces almost 3 per cent of total global carbon emissions.

New Technologies That Could Clean Up Shipping 

Some of the new technological developments that could lead to more environmentally friendly, ‘cleaner’ shipping include innovative electric boats like the ‘Pioneer’.

The Pioneer flying boat developed by Artemis Technologies. This is a world’s first electric foiling workboat. It has foil/a wing-like structure underneath the boat that actually lifts the hull right out of the water which reduces drag and enables a smooth, fast ride. It has been designed and built by Belfast-based marine technology company Artemis Technologies to transport cargo over long distances in a more environmentally friendly manner. The Pioneer is essentially a hybrid electric flying boat, that’s powered by both a traditional internal combustion engine and an electric motor. According to the company, the flying boat will be able to carry up to 50 tons of cargo.

One of the main ways in which the Pioneer flying boat could contribute to cleaner, more sustainable shipping is by reducing carbon emissions thanks to its electric technology. Additionally, the Pioneer flying boat could potentially operate on a variety of alternative fuels, such as biofuels or hydrogen, which would further reduce its environmental impact.

Another way in which the Pioneer flying boat could contribute to cleaner shipping is by reducing the amount of road congestion and related air pollution. By transporting goods via sea rather than by road or rail, the flying boat could help to alleviate pressure on these already-congested transportation networks.

Also, electric boats such as those made by Artemis could benefit the environment (and passengers) due to the fact that they don’t produce the kind of wake that traditional boats create, can operate close to the harbour, don’t cause the same kind of coastal degradation, and can offer reduced journey times.

The Pioneer flying boat could be one technological advancement that has the potential to revolutionise the way goods are transported over long distances, offering a more environmentally friendly and sustainable alternative to traditional cargo ships and other modes of transportation.

Other Ways The Shipping Industry Could Become More Environmentally Friendly 

Other ways that the shipping industry could become more environmentally friendly include:

– Using battery-powered boats for short distances.

– For international shipping, using green hydrogen-based fuels could reduce carbon emissions. However, transitioning to hydrogen would require changes to fuel infrastructure, as well as modifications to the ships to make them compatible with hydrogen fuel.

– Bridging the gap between fossil fuels and clean hydrogen by sustainably producing and using Syngas i.e., a mixture of hydrogen and carbon monoxide. For example, a Cambridge University experiment is using artificial leaves floated on the surface of rivers to generate clean fuels from sunlight and water. The hope is this could be scaled up to autonomous floating, fuel production centres in in remote areas, near the shore, on lakes, or on islands to create refuelling stations for ships.

– Using traditional, wind-powered cargo sailing ships e.g., Costs Rica-based ‘Sailcargo’ transports containers using traditional sailing ships.

Unmanned, Cargo-Hauling Drone Aircraft 

One way that air freight could be cleaned up may come from using cargo drones operated from the 3,000 smaller airstrips across Europe. The drones, flying below passenger air traffic could move smaller loads e.g., 350kg. Examples of companies already experimenting with these cargo drones include Bulgaria-based Dronamics (powered by an electric engine), and U Elroy Air (drones powered by a hybrid electric engine – includes an electric generating turbine and runs off aviation fuel). As well as operating from airfields, for longer distances, these drones could also be loaded aboard and operated from electric-powered ships.

Challenges 

Some of challenges to ‘cleaning up’ the shipping and air freight industries include:

– The lack of infrastructure for alternative fuels. Shipping and air freight currently rely heavily on fossil fuels, which are major contributors to carbon emissions. To reduce these emissions, it will be necessary to invest heavily in infrastructure for alternative fuels such as electric or hydrogen-based fuels.

– Another challenge is the cost of transitioning to alternative fuels. While the long-term benefits of using cleaner fuels may be significant, the upfront cost of converting ships and planes to alternative fuels, as well as the cost of building the necessary infrastructure, can be prohibitively expensive.

– Technological challenges. For example, electric and hydrogen-based fuels may not have the same energy density as fossil fuels, which means that they may not be suitable for use in long-distance shipping or air freight.

– Regulatory challenges. Governments will need to establish clear policies and incentives to encourage the use of cleaner fuels in the shipping and air freight industries.

What Does This Mean For Your Organisation? 

New, innovative, and cleaner technological developments, such as electric (foil) boats battery-powered (boats for short distances), hydrogen-based fuels, syngas, and launching electric cargo drones from electric boats all hold the promise of reducing carbon emissions and could be a beneficial alternative to environmentally unfriendly, carbon producing fossil fuels. In terms of benefits, using these technologies would allow shipping companies to not just reduce their environmental impact but also meet regulatory requirements for emissions reductions. It could also help businesses and consumers to meet their own sustainability goals. Additionally, the adoption of these cleaner technologies could help to reduce the long-term costs of shipping by reducing the need for expensive fuel sources. At the moment, however, there are still significant challenges to overcome in introducing these technologies at scale which means we won’t be reaping the benefits soon, but at least there are promising and practical alternatives to the current situation.