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5 Trends to Watch: 2023 Emerging Technology

  1. Healthcare and Tech Converge Further – We will continue to see the convergence of technology with health care resulting in the proliferation of digital health. Telemedicine, wearables, and remote surgery will continue to attract investment, and pharmaceutical and biotechnology companies will take advantage of technology to address regulatory hurdles and data privacy issues.

  2. Investors Flock to “Wild West” of the Metaverse – Not since the internet’s early days have we seen a frontier mentality in the digital world. The “metaverse” has become an accepted term for a virtual world in which we can collaborate with others in an immersive experience. The future of the metaverse is unclear, however, there has been a gold rush of efforts in establishing a presence within the metaverse. Companies, brands, and even non-profits are purchasing space for future marketing, sales, or fundraising, hedging their bets on the future shape of the metaverse.

  3. Green Tech Gains in Popularity – With urgency and awareness, more companies are embracing the ethos of doing well by doing good. We are seeing the emergence of new, environmentally-responsible technologies and the adoption of green manufacturing protocols. Eco-friendly ideologies can be good for business by creating efficiencies, lowering energy outlays, and creating less waste while boosting attractiveness to outside investors.

  4. Mailboxes Go Virtual – Companies shifted to a remote work environment during the pandemic, and many are now permanently moving their business into the virtual realm, especially those that have distributed workforces. In the absence of a brick-and-mortar office space, companies are utilizing services that (1) provide virtual business addresses that can be used like a traditional physical address and (2) provide virtual mailboxes where all mail and packages delivered to the virtual business address can be securely processed.

  5. Robots Get Smarter – As artificial intelligence (AI) and machine learning become more advanced, the rate of incorporation into robotic process automation will increase. As businesses find more uses for AI, improvement in the efficiencies associated with deliverables and productivity will be measurable. AI-related applications will continue to proliferate as people and businesses get increasingly comfortable with robots in their everyday lives.

About the Authors

Greenberg Traurig Shareholders Chinh H. Pham and Emily Ladd-Kravitz are co-chairs of Greenberg Traurig’s Venture Capital and Emerging Technology Practice. The Venture Capital and Emerging Technology Group at Greenberg Traurig is a multidisciplinary legal team focused on representing entrepreneurs and investors. The group guides emerging technology companies through all the stages of their development, from initial business formation through angel, venture capital, and cross-over financings to initial public offerings and exit transactions. In addition, they advise institutional investors in their investments into innovative companies at all stages and across industries.