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What lies ahead? 4 tech predictions for 2023

The economy might be struggling, but the world of tech is moving faster than ever. 2022 saw massive changes in our digital lives, and 2023 is set to bring even more innovations and surprises.

Here are our top tech predictions for 2023.

1. Crypto will bounce back even stronger

Cryptocurrencies, and many people who invest in them, had a rough time in 2022. Cryptocurrency exchange FTX collapsed and its founder, Sam Bankman-Fried, was arrested on fraud charges. Many crypto investors lost significant sums of money. But worse than that, many lost faith in cryptocurrencies all together, putting the future of digital currencies into doubt.

But for every action there is a reaction. It may take some time for investors to regain their trust, but a turbulent 2022 is set to bring in more regulations for crypto. The EU is poised to bring the Markets in Crypto-Assets (MiCA) Regulation into force this year – legislation designed to govern digital assets across member states, bringing much-needed stability to cryptocurrencies.

This could provide the stability needed for cryptocurrencies to return as a permanent aspect of the financial world.

2. Twitter’s competitors go in for the kill

One of the biggest news stories of 2022 was Elon Musk’s purchase of Twitter. The changes made by one of the world’s richest men to the world’s largest online conversation forum have been drastic, with many commentators expressing concern about issues such as the rise of hate speech on the platform since the takeover.

Social media is a lucrative, and sometimes ruthless, business. With Musk at the helm of Twitter, it’s fair to say that the platform’s competitors are hoping to steal some, if not all, if its market share. Meta, who own Facebook, Instagram and WhatsApp, may well see this as their opportunity to overtake their biggest rival. And that’s before TikTok and BeReal, 2022’s biggest social phenomenon, enter the picture.

2023 may well see the battle of the time-wasting apps ramp up a level.

3. Modern homes will require Full Fibre broadband to function

The average UK household now has between nine and ten devices connected to the internet, and that number is growing year on year. Phones, TVs, exercise equipment and security systems make up just some of the many devices connected to each home’s Wi-Fi. With all these devices competing for bandwidth, only homes with Full Fibre broadband will be able to support modern smart home demands.

This issue is clearly at the forefront of the property world. The National Trading Standards Estate and Letting Agency Team (NTSELAT), says it is considering updating material information rules for home lettings to ensure they include information on broadband and mobile coverage. There’s a good chance this news spurs developers and landlords into ensuring their properties are connected to a Full Fibre broadband network.

4. AI is here to stay

Artificial Intelligence (AI) has faced its fair share of scepticism over the years, partly due to it never being able to live up to its portrayal in sci-fi movies. But things changed towards the end of 2022.

Social media was flooded with AI-produced art, with people sharing images of themselves created entirely by a computer, usually alongside exclamations of disbelief.

While traditional artists have spoken out against this new AI art, it’s hard to deny how impressive these images really are. The end of 2022 also saw the launch of ChatGPT – an AI programme capable of writing poetry, blogs, emails and more. Millions have already used the app, proving the rising popularity of faux creativity.

Perhaps 2023 will usher in a new era of people admiring and, crucially, finally trusting artificial intelligence.


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