Businesses will rethink how they consume, interact with, and use technology and continue to re evaluate their strategies from all perspectives – talent, innovation, culture, and purpose

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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Businesses will rethink how they consume, interact with, and use technology and continue to re evaluate their strategies from all perspectives – talent, innovation, culture, and purpose

As 2022 draws to a close, we can reflect on the years gone by and ponder the winds of change that have swept the globe. When we talk about change, technology is always at the top of the list.

ET Insights talks to Pallavi Arora, Vice President of Cisco Customer Experience (CX) Centers, in an exclusive interview to find out what she thinks about technology predictions for 2023.

Can you share your views on the technology trends which are sweeping by?

The past 12 months have been full of growth and development opportunities, and we all have plenty to be proud of as a result.. The year’s first half saw a massive upswing in the economy influenced by the post-COVID resurgence. On the other hand, B2B technology companies witnessed a demand boost fuelled by the need to accelerate digitization, with demand exponentially surpassing supply, resulting in an upbeat future forecast. Moreover, with consumers having a plush of working capital, B2C companies experienced hypergrowth, followed by subsequent price rises on all commodities, and simultaneously the stock market ran bullish.

So, interpreting the trend, while a correction could potentially follow such an economic expansion, my long-term outlook for India is a positive one. According to Gartner, India’s IT spending is expected to continue growing to over $110 billion in 2023. Therefore, I believe that this disruption has created new possibilities and is paving the way for swift and ground-breaking innovation. We are living in the most transformational period in history, with digitization gaining momentum across the board, globally.

Pallavi Arora
Vice President, Cisco Customer Experience (CX) Centers

There has been a huge shift with newer technologies and trends hitting us every second now – Hence, what does 2023 hold for us?

Here are a few business and technology trends that will take centre stage in 2023:

There will be a continued transformation of cybersecurity and IT infrastructure to match pace with the overall landscape evolution.

For example, the need for anywhere, anytime access to applications requires network transformation for uninterrupted connectivity with security. In addition, businesses will continue to modernize their IT infrastructure with SD-WAN technologies allowing them to connect users, devices, and IoT to systems, apps, and data more securely.

Modernization of businesses with a transformed understanding of business agility, ushered by the new era of predictive networks. 

There will be an increased dependence on full-stack observability to deliver a world-class digital experience. Predictive networks and innovations that can help gather data from different telemetry sources for pre-empting user experience issues will gain prominence.

Reimagined physical space facilities for inclusivity in a hybrid work environment.

In 2023, hybrid working will reshape establishments for increased inclusivity, leading to a secure and closer collaboration amongst different functions and an increased demand for hybrid work bundles and technologies.

Evolve and amplify the positive impact we have on people and the planet:

Most importantly, to be successful, business purpose cannot be tunnelled towards just outcomes and profit. It needs to serve the planet. We must work towards lowering our carbon footprint and leaving a positive mark on the planet. From committing to net zero and improving the energy efficiency of products to saving energy, we have everything needed to move the needle on one of the most significant challenges humanity faces today.

To summarise, I believe India is on an upward trajectory powered by technology, and growth projections where expectations will become more linear quickly. As we embark on a new year, and as organization stakeholders – employees, customers, partners, and communities, rethink how they consume, interact with, and use technology, businesses will continue reassessing their strategy from every lens – talent, innovation, culture, and purpose.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members