Looking ahead is always a tricky business. While the turn of the year presents an opportunity to take a fresh look at your strategy and plan where to focus your energies, it can be hard to sort real trends from hype. This is especially true when it comes to tech. Think about this time last year, and the excitement around NFTs, crypto, and the metaverse. By fall of 2022, NFT markets were down 90%, we’d entered a cold crypto winter, and a bustling metaverse was still more of a dream than reality. Separating real innovation from hot air can be the difference between a big win and a costly flop.
2023 will likely be a more sober year in tech. Geopolitical and economic uncertainties are injecting more caution into the next phase of tech’s evolution. Leaders will have to search for ways to do more with less, find value where innovations overlap, and strategically invest in technologies that are hitting a tipping point.
A group of McKinsey’s technology practice leaders have taken a look at what 2023 might hold, and offer a few new year’s tech resolutions to consider.