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Tech Industry Outlook for 2023

The coronavirus pandemic significantly impacted the tech industry for the past few years. Although the use of technology increased in many areas, such as videoconferencing platforms, it also decreased in other areas, such as the Internet of Things (IoT).

Understanding the tech industry outlook for 2023 provides insight into how your industry and company may be affected. This lets you strategically plan and hire employees in line with your expectations.

Learn about the tech industry outlook for 2023 and how your company may be impacted.

Internet of Things

IoT Analytics estimates there will be 30 billion IoT device connections by 2025. This averages out to be four IoT devices per person.

International Data Corporation’s 2020 Worldwide Internet of Things Spending Guide estimates global IoT spending will attain a compound annual growth rate of 11.3% during the 2020 to 2024 forecast period. This data indicates the steadily growing use of IoT.

IoT devices are popular in the form of connected lights, smart refrigerators, and other items in smart homes. Smart glass, activity trackers, and other wearable technologies also use IoT applications. Urban safety monitoring, traffic and waste management, and water distribution in smart cities use IoT technologies as well.

Security is the top concern for IoT-connected devices. Hacks, data breaches, information leakage, and other attacks are common. Because IoT-connected devices do not come with security features, these features must be added.

5G Networks

5G networks offer faster transmission speed than almost all home broadband. As a result, what used to be done only through computers can now be done with smart devices.

IoT devices can interconnect more smoothly using 5G networks than 4G networks. Also, 5G networks let drones, autonomous cars, and smart cities carry out more complex operations than 4G networks.

Currently, 5G networks are available only in certain countries and areas. Also, greater bandwidth means less coverage and more signal drops. Additional cells must be built to support the network’s high speed. Plus, the networks may be unable to penetrate walls and other materials.

Chatbots

Chatbots simulate conversations with humans. These bots use artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) to provide customer service for companies.

Chatbots are being used by more businesses than before. These bots serve as responsive, intelligent, conversational agents. They significantly decrease the amount of time and money spent on answering questions and filling customer requests.

Chatbot development is impacted by developments in NLP. As a result, customers may become frustrated when chatbots give limited or repetitive answers.

Chatbots with robust and complex functionalities are costly. Therefore, companies may not have the budget to use them as customer service tools.

The IT Labor Market Will Be Tight

If you need help hiring tech professionals, include RightStone in your process. Find out more today.


Automation – Future of IT

Automation has been a regular topic of discussion for well over a decade. Even still, the world has not yet felt its full effects.

While there’s no doubt that automation impacts jobs, automation also presents opportunities for IT professionals. Before you can harness automation to expand your career, you first need to look at the applications.

What’s Automation Doing in IT?

Automation is part of the software revolution, and it’s made the jobs of IT pros easier to bare. Automation makes monitoring simpler and allows you to skip the manual sifting through files. These realities align with the predictions that found automation would first take over repetitive, manual work that primarily requires following the same program.

Although it’s possible that tech support jobs, in particular, will be most subject to automation, it’s unlikely that these roles will evaporate. Instead, the tasks themselves will change, and there will be a smaller cohort of people doing them.

However, automation isn’t going to do everything for you. It won’t take over from non-routine or non-standardized tasks.

What Should You Do Next? It’s All About Skills

Automation itself isn’t here to take IT jobs. However, if you want to remain relevant, you do need to adjust your skills accordingly.

The IT field is already facing a huge skills shortage in general, but some of the automation skills that are increasingly in-demand include:

  • Network automation skills
  • Configuration management software experience
  • Troubleshooting
  • Scripting

Of course, if you know how to work with automation or contribute to it, then your skills will be particularly in demand.

Finally, there’s evidence that applied technology skills (ATS), or skills that focus on integrating new technologies, such as data analysis, will remain at the forefront or recruiter and hiring managers’ minds.

You Can Survive Automation

Automation reduces the need for highly repetitive tasks, which means jobs associate with repetitive and easily programmable tasks are at risk. However, automation isn’t AI. If there’s a deviation in your processes or they’re not standardized, then they require a human to run them.

You can survive automation by focusing on upskilling and reskilling to progress through your career. Because while you can’t control tech developments, you can learn how to use and protect them.

Are you looking for a place to practice your new skills? RightStone is placing candidates in IT roles right now. Get in touch or browse our list of available jobs.

 


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