In order to be at the forefront of the latest tech consulting trends, you need to know what’s coming. Over the past few years, there have been a sizable number of developments in the technology consulting sector. For starters, businesses all across the world have reinvented themselves since the pandemic brought the world to a grinding standstill.
Over the last five years, IT consulting revenue increased at a CAGR of 2.0%, reaching $665.9 billion, with a 4.0% growth forecast for 2023. Financial confidence and investment are still propelling the sector forward. Furthermore, businesses hire technology consultants to help integrate new systems into their existing infrastructure and increase operational efficiency.
Rising technology consulting integration expands through all fields, but first, what is this all about:
What is Technology Consulting?
Technology consulting is the process of counseling companies on how to use software and technology to their advantage. It is often used to describe new technology’s creation and development, application, or administration.
Technology consultants go by many different names, including IT consultants, computer consultants, software consultants, business and technology advisors, etc. Moreover, technology consultants support their clients’ businesses by accelerating growth, reducing expenses, reducing risk, luring and developing talent, and streamlining critical business procedures.
Top 5 Trends Shaping the Tech Consulting Industry in 2023
Start by identifying the goals of your organization in order to determine whether these technological changes will have an impact on it. Here are a few of the trends that are most anticipated to occur exponentially this 2023:
1. Higher Observability of IT
Observable data captures digital artifacts such as logs, traces, API calls, downloads, and file transfers whenever a user performs an action. Applied observability feeds these things back in a very ordered way to learn from the actions and hasten decision-making.
Through higher observability, businesses utilize their data artifacts to obtain a competitive edge. This strategy has been demonstrated to be successful because it highlights the strategic importance of having the right information at the right time to move quickly based on verifiable stakeholder actions rather than intentions. Furthermore, applied observability is the best instrument for making data-driven decisions when well-designed and put into practice.
2. Increased Digital Transformation
By 2023, it is anticipated that transformational technologies, such as AI, VR, AR, cloud computing, blockchain, and extremely fast network protocols like 5G, will have catalyzed their intervention into the core areas. These technologies have already taken over the major business sectors. Even though they currently exist separately, they will eventually blend and intertwine.
By applying such technologies, you are able to develop new ideas for improved working, strategic decision-making, and automation of manual and repetitive tasks.
3. Sector-Specific Cloud Platforms
Sector-specific cloud platforms, which mix PaaS, SaaS, and IaaS to satisfy specific industry business use cases, offering industry-specific sets of modular capabilities. In fact, companies develop unique and differentiating digital business activities by employing the packaged capabilities of industrial cloud platforms as building blocks. Essentially, these initiatives provide innovation, agility, and a quicker time to market while preventing lock-in.
4. Integrated Customer Experience
In the past, technology in this field served to streamline processes and improve customer experience. Now, chief experience officers (CXOs) are being hired by organizations like Adobe and Adweek to ensure that experience becomes a key element of business strategy because it is such a significant trend.
As competition for the brightest and most talented employees heats up, businesses are becoming more and more obligated to take employee experience into account, in addition to customer experience.
5. AI Security
Many companies are poorly prepared to deal with the risks brought on by AI. A survey by Gartner found that 41% of firms had a security or privacy incident involving AI in the US, UK, and Germany. However, the same survey found that organizations with proactive risk, privacy, and security management of AI initiatives fared better.
Organizations need to implement new capabilities in order to ensure model dependability, trustworthiness, security, and data protection. Moreover, participants from diverse business divisions must work together in AI security, risk, and security management to implement new measures.
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