6 new tech trends shaking up business in South Africa
Financial services firm Deloitte believes that technology is only going to continue reshaping companies across the globe.
In its latest Tech Trends 2023 report, the group explored the impact of emerging technologies and innovation in technology, cyber and trust, and core modernisation.
Deloitte said work and life will fundamentally change over the next 18 to 24 months.
The company provided the following trends they expect will emerge:
Immersive Internet for the Enterprise
As technologists recognise that screens cannot keep shrinking, there has been a shift toward interfaces that users can engage in all-surrounding immersive virtual reality.
Deloitte said that over the next few years, virtual reality would likely be no longer just a gaming device but a tool for enterprise.
Companies like Meta and Apple have all moved to bring virtual reality to the office.
Opening up to AI
Deloitte said that with Ai tools becoming increasingly standardised and commoditised, a handful of businesses may realise true competitive gains from creating better algorithms.
“AI-fueled enterprise from its competition will be how robustly it uses AI throughout its processes. Trust is the key element here, which has developed slower than machine learning technology.”
The business world has to develop a new understanding of what it means to trust machines, especially when they are moving more towards becoming a means of decision-making, said Deloitte.
Simplifying multi-cloud management
The financial services company said that some businesses are beginning to turn to a layer of abstraction and automation that sits digitally in the cloud.
Metacloud developments would offer a single pane of control for organisations feeling overwhelmed with too many tools and business information spread across the cloud.
Flexibility
Hiring for the challenges of today is an outdated method, with employers now having to be forward-looking as technology evolves.
Future employees are likely to be curated and created through upskilling, especially in tech fields.
Decentralisation
“Blockchain-powered ecosystems are becoming key not only to developing and monetising digital assets but also to creating digital trust,” says Deloitte.
Organisations are set to engage more with decentralised systems and business models, playing trust not in a single-person organisation but distributing it across a community of users.
Mainframe modernisation
Although there is expected to be rapid digitisation and a slew of changes, legacy systems are not going to be replaced but brought up to speed, said Deloitte.
“Through tried-and-true approached to legacy system modernisation, businesses are leveraging mainframes – and their precious data – to drive digital transformation.”
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