2023 is just around the corner and already people have begun to speculate about the next big thing in the tech world. Knowing this information is important. It could, for example, make a huge difference to the success of your business.

In this guide, we’ll review some of the most talked about tech updates coming in 2023. We’ll look at virtual reality (VR) and the ever-expanding metaverse. We’ll also look at artificial intelligence (AI), augmented reality (AR) and blockchain technologies, all of which are growing quickly and are set to continue that way next year.

The metaverse and virtual reality

In the last couple of years, there’s been a great deal of talk about Facebook’s new venture, the metaverse.

This virtual reality world is, they predict, the future of social media. Huge sums have been invested in its development, all in an effort to create a more immersive and enjoyable user experience.

The ability to create the metaverse is possible thanks to virtual reality technology. In its infancy, VR was an exclusive pastime for those with the money and equipment to play it. Oculus was the first organization to make it more accessible, and it has since been purchased by Facebook, which is now known as Meta.

The rise in virtual reality gaming has also been driven by the number of streamers showcasing these games on sites such as Twitch. Livestreaming in iGaming is hugely popular now and streamers can carry a significant influence. This applies to all types of games, from shooters such as Call of Duty to betting-based games like poker and roulette.

Virtual reality has also found a use in the world of sports. More and more soccer teams, for example, are adopting VR to help expose younger players to matchday experiences, such as intense away crowds. It’s also been used in rehabilitation, allowing players to conduct VR exercises while they recover from injuries.

Artificial intelligence (AI)

One of the biggest developments in the tech world of recent years, and one that’s due to make a big impact in 2023, is artificial intelligence (AI).

Already, businesses around the world are adopting AI and reaping the rewards. It can be used to study customer shopping trends and habits to learn how people behave and what motivates them to make a purchase.

The benefit of having this information available is that it allows businesses to see where their weaknesses are and adapt. It can also help them increase conversion rates by improving the user experience.

AI can also be used in a more defensive capacity. It can be used to detect any fraudulent or unusual activity on accounts and can impose automatic suspensions before more harm is caused.

As the world becomes more digitized, AI will play an important role, but its use is very much limited to that area.

Augmented reality

Something that’s become increasingly popular recently is augmented reality. This is the technology used to create a virtual showroom or fitting room that allows customers to experience a product before purchasing it.

AR is shaping up to be the solution for a longstanding problem experienced by many online businesses — that customers can’t try before they buy. Instead, they must order the item, try it at home and go through the process of sending it back. This has added extra costs as businesses often offer free returns in order to keep up with competitors.

AR has the ability to improve customer service and decrease costs, but also to improve conversions as customers have a better chance of trying products out.

It was predicted that by 2020 around 100 million customers will have tried AR. That figure is now certainly higher, especially with the impact the pandemic has had on the digital arena.

Blockchain technologies

A popular piece of tech that has exploded in popularity is blockchain. This technology allows businesses to accept and make transactions with cryptocurrencies, such as Bitcoin and Ethereum.

There are benefits to this type of commerce. Firstly, blockchain is more secure in that it provides greater payment verification and protection. This is something that’s becoming increasingly important with the rise in hacking and cyberattacks. The British Airways data breach, for example, cost the company millions in fines and potentially exposed their customers’ data to nefarious individuals.

In addition, these breaches damage customer confidence and may cause businesses to lose much more than just money in the form of penalties and fines.

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