5 Technology Trends for Small Business in 2023 Focus Women in Business

With International Woman’s Day falling on 8th March, let us celebrate women in business and in tech. At Virgin Media Business we are all about fibre business broadband for small businesses but did you know the inventor of WiFi was a woman? Her name was Hedy Laamrr who was an inventor and film actress, awarded a patent in 1942 for her “secret communication system”. This frequency hopping system was originally to be a way to set radio-guided torpedoes off course during the second world war. Hedy Laamrr’s idea eventually inspired WiFi, GPS and Bluetooth technologies we use today.

Also, the world’s first computer programmer was a woman named Ada Lovelace and is often referred to as the “world’s first computer programmer.” Women in tech and in small businesses are waking up to the potential modern technologies must solve problems and create new opportunities for growth.

With that in mind, we have put together some of the key technology trends for women in business and for SMEs to watch out for in 2023:

Since 2020, many of us were uprooted from our offices and sent home to set up work offices in living rooms, studies and kitchens. This massive shift in working patterns was made possible by cloud software and technology that allowed businesses to connect, collaborate and even talk remotely. Meetings can be a walk in the park. Looking at famous women in tech, Radia Perlman nicknamed “Mother of the Internet” “invention of the algorithm behind Spanning Tree Protocol (STP), was instrumental in making today’s internet possible” GlobalappTesting.com. Thanks to Radia Perlman we have hybrid working today. 

Moving into 2023, hybrid working has been wholeheartedly adopted by small businesses and SMEs. What is more, the shift to this style of working has not only meant a massive increase in cloud investment, but an explosion in the availability and capabilities of cloud software being designed for small businesses. In short, this could mean more flexibility, fewer overheads and even more opportunities for growth. In the past, women stayed in the home and had either to choose their career or choose to raise a family. Now moving into the 21st Century women have the choice to work flexible at home with their children and family as well as the office. Raising a family will not get in the way of their career with the reward of hybrid working.

Blockchain is often most easily recognised as the technology that underpins cryptocurrencies like Bitcoin, but it has a whole host of other uses that could transform the way businesses operate. Blockchain is predicted to be one of women’s investing trends and key for growing small businesses in 2023.

Primarily, its status as an unalterable digital ledger makes it an incredibly secure way to process and record transactions, but the fact it provides secure end to end encryption means that cyber security and data storage could also become significantly faster and easier to manage. For small businesses, the security and scalability of Blockchain technology could remove many of the traditional growth barriers they face, particularly when it comes to loans and finance.

Augmented reality is becoming increasingly accessible for small businesses and SMEs, particularly when it comes to creating unique marketing and customer experiences for women and tech professionals.

The fact that the latest smartphones are the perfect portal for an AR experience has meant that everything from social media to mobile games are now leveraging this tech wherever possible. For small businesses, augmented reality can be used to show off a new product in immersive detail, deliver a virtual tour of a new premises or even create a unique social media marketing campaign. If you are a small business Virgin Media’s TV Adsmart Ireland’s Low Cost advertising can help you along the way. Will the Metaverse become more used for SMEs? It is predicted for 2023.

Like augmented reality, artificial intelligence is one of those technologies that feels like it has come straight out of a sci fi film. In fact, many small businesses are increasingly relying on AI to streamline their day-to-day data, coordination, and financial processes. 

For smaller businesses however, AI is proving itself in a more client-driven environment. Chatbots on websites are now using this technology to deliver tailored customer service, whilst CRMs powered by AI can help you identify key sales trends and opportunities that you might otherwise miss. As AI becomes increasingly practical and accessible, it is easy to see how small businesses will incorporate this technology into their digital strategies.

Thanks to Hedy Laamrr who founded WiFi mentioned earlier in this Business Insight, her invention in WiFi lead to the development in Bluetooth technologies and 5G. 5G has been around since 2021, yet 5G is predicted to be one of the top trends for small business in 2023. As a growing number of cities and towns in Ireland get access to this next generation mobile network, what will it mean for small businesses? Better communications. 

In short, lightning fast mobile networks means you’ll be able to get more done, far more flexibly. Whether that means downloading and sharing large files on your mobile device in seconds, or making crystal clear voice and HD video calls, 5G is the technology that makes this possible. Additionally, 5G networks are powering the next generation infrastructure in cities, which could mean things like live traffic travel updates on road signs and smart street lighting that adapts to weather conditions. The full potential of 5G is still only just beginning to be explored, which makes it one of the most exciting technology trends on this list!

With exciting trends to look out for in small businesses for 2023 it is a wonderful time for women in tech and in business. Keep an eye on Virgin Media Business to keep updated with the latest technology tools to stay ahead of the game.