Sketched, technology in 2023
In a shortened week, we revisit some of the most well-read sketches from the 230 we published this year on the consumer, technology, and sustainability.
As we discussed earlier this year in 5 digital innovations to shape a new era of growth, while the hype surrounding new generative AI tools will likely fade, AI itself holds great promise to enhance robotics, industrial design, cybersecurity, and the Internet of Things. However, enterprise adoption of generative AI remains a work in progress as managers assess options from custom solutions to purpose-built applications.
Source: Morgan Stanley, October 2023
In the 1960s, Stanford University professor Roy Amara noted that “we overestimate the impact of technology in the short-term and underestimate the effect in the long run.” It is also possible that sometimes the reverse is true. As with statements like “organic” and “all natural” found on food packaging, claims that a given technology benefits from the AI trend merits further investigation.
Source: Bloomberg, IDC, June 2023
Over the last decade plus, semiconductors have continued to expand well beyond computers into the fabric of every day life including automobiles, home appliances, and athletic gear. As that integration into the broader economy became more seamless, many industry analysts predicted that the historic pattern of sharp swings in semiconductor revenue growth would become smoother.
Source: Semiconductor Industry Association, Morgan Stanley, July 2023
Earlier this year, a deceleration in IT spending coupled with a decline in venture capital funding drove a rapid jump in technology sector layoff announcements. However, after that initial spike, the trend significantly abated throughout 2023.
Source: Layoffs.fyi, September 2023