By: Ashish Sharma

If you are conflicted about what to prioritize for budgeting, resource allocation, and investing in the best technology tools for the year ahead, you’re not alone. The news industry is always abuzz with predictions about the upcoming year with pundits offering insight into how technology will impact business over the next 12 months.  

With the possibility of an economic downturn looming in 2023, many IT teams will try to do more with less. However, with the right research, a recession can be the perfect time to invest in new technology, as companies seek to cut costs and increase efficiency. There is no more powerful tool than investing in digital transformation because automation, cloud computing, and other advanced technologies can help organizations streamline processes, manage budgets and free up staff to focus on more strategic business goals.

Despite fears of a recession and belt-tightening, a large majority of enterprise IT investments over the coming year are expected to focus on the enablement and acceleration of digital transformation because it is necessary to stay competitive and relevant. This will involve introducing new technologies, leveraging existing technologies in new ways, and applying new technologies to create new business models.

The first priority will be IT modernization; it includes hardware, software, cloud and managed services that will further support the shift to growing distributed workforces and the data processing demands of operational technologies. As many businesses move toward developing and implementing their own digital transformation strategies, they’re quickly learning that their existing legacy infrastructure just isn’t robust enough to balance competing demands of internal infrastructure needs and business opportunities presented by AI, machine learning, cloud computing and IoT. In order to leverage data for better business decisions, the IT architecture must be in place to support it.

My sense is that 2023 will be a landmark year when the impact of 5G and edge cloud technologies to enable and accelerate digital transformation will be fully evident. The specific technologies discussed below will become more prominent next year, to foster and drive digital transformation.

5G for connected operations and location-based services

An excellent example of the impact digital transformation has on business is in the connected operations market. Connected operations help companies prepare for an economic downturn by enabling them to become more agile and efficient at responding to changes in market conditions. 5G will be a boon for businesses that rely on connected operations, as it enables applications that require high throughput and low-latency connectivity for devices and sensors that are part of a Connected Operations system, leading to more reliable and efficient data collection and analysis. This makes it easier for organizations to accurately identify areas where efficiency can be improved, and costs can be cut. A connected enterprise can react and respond based on context and location to make smarter, safer, and better business decisions.

Acceleration to close the digital divide

According to Pew Research, recent federal funding toward state infrastructure has created a surge in job openings in state broadband offices to manage the funds. This has enabled 5G service providers and ecosystem partners to join forces with local communities and bring connectivity to those in need. Bridging the digital divide in rural and underserved areas not only enables and accelerates digital transformation for