By: Ashish Sharma
If you’re conflicted about what to prioritize for budgeting, resource allocation, and investing in the best tech tools for the year ahead, you’re not alone. The news industry is always abuzz with predictions about the coming year and experts offer insights into how technology will impact business in the next 12 months.
With a possible economic downturn in 2023, many IT teams will be trying to do more with less. However, with the right research, a recession can be the right time to invest in new technology, as companies look to cut costs and improve efficiency. There is no more powerful tool than investing in digital transformation as automation, cloud computing, and other advanced technologies can help organizations streamline processes, manage budgets and free up staff to focus on more strategic business goals.
Despite fears of recession and belt-tightening, the vast majority of corporate IT investment in the coming years is expected to focus on enabling and accelerating digital transformation as it is necessary to remain competitive and relevant. This will involve introducing new technologies, utilizing existing technologies in new ways, and applying new technologies to create new business models.
The first priority will be IT modernization; it includes hardware, software, cloud and managed services that will further support the shift to growing distributed workforces and data processing demands of operational technology. As many businesses are developing and implementing their own digital transformation strategies, they are quickly learning that their existing legacy infrastructure is not strong enough to balance the competing demands of internal infrastructure needs and business opportunities provided by AI, machine learning, and cloud computing. and IoT. To leverage data for better business decisions, an IT architecture must be in place to support it.
My sense is that 2023 will be an important year when the impact of 5G and edge cloud technologies to enable and accelerate digital transformation will be evident. The specific technologies discussed below will be more prominent next year, to foster and drive digital transformation.
A good example of the impact of digital transformation on business is in the market of connected operations. Connected operations help companies prepare for an economic downturn by making them more agile and efficient in responding to changes in market conditions. 5G will benefit businesses that rely on connected operations, as it enables applications that require high throughput and low-latency connectivity for devices and sensors that are part of the Connected Operations system, leading to more reliable and efficient data collection and analysis. This makes it easier for organizations to accurately identify areas where efficiency can be improved, and costs can be cut. Connected enterprises can react and respond based on context and location to make smarter, safer, and better business decisions.
According to Pew Research, new federal funding for state infrastructure has created a surge in job openings at state broadband offices to manage funding. This allows 5G service providers and ecosystem partners to join forces with local communities and bring connectivity to those in need. Bridging the digital divide in rural areas and underserved areas not only enables and accelerates digital transformation