How 2023 redefined tech, people and business

The past year, 2023, there have been major technological advances around the world that not only offered hope for a better future but began to make it a reality. Technology has advanced significantly in areas such as AI, quantum computing, AR/VR and environmental technology. These improvements have changed the way we use computers, making calculations faster, improving digital experiences, and helping the environment. Today, these technologies are critical across sectors, leading to greater efficiency, creativity and new solutions. For more information, see MIT Technology Review.

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We have helped close the technology gap and connect people and businesses more effectively through our work in open data, energy sustainability, financial innovation, communications technology, consumer services and logistics.

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Open Data and Government Transparency

We've made public data easier for everyone to access.

Open data has the potential to unlock huge economic benefits, as identified by research from McKinsey - potentially up to $3-5 trillion a year. We've therefore developed an open data portal specifically for local government, based on the Comprehensive Knowledge Archive Network (CKAN), a leading platform for making government data available to the public.

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It provides a wide range of government and public sector information, except for data restricted by state secrets or specific legislation.

Anyone can freely access, use, and share a wide range of data, including government statistics, structured information, and detailed business data.

This open access supports a range of activities, including research, analysis and the development of applications such as Open Money and Official Alert, which help the public understand and engage more effectively with the workings of government.

Energy & Sustainability

Since the signing of the Paris Agreement's goal of net-zero emissions, our organisation has taken initiatives to increase the efficiency and sustainability of local energy distribution networks.

We have moved organisations from paper-based systems to digital document management, reducing waste and increasing operational efficiency.

By applying predictive maintenance analytics, energy organisations could anticipate equipment failures before they occur, minimising downtime and extending the life of critical infrastructure. Plus, we've strengthened their infrastructure with robust cybersecurity measures to protect against cyber threats and ensure a consistent energy supply.

Together, these initiatives have resulted in lower operating costs and reduced carbon emissions and have helped to facilitate a smoother transition to renewable energy.

Financial Innovation

With the banking sector faced with rising interest rates and changing consumer expectations, the adoption of digital methods continued to grow in 2023.

The US Federal Reserve's interest rate increases drove a significant shift towards digital banking, with the number of digital banking users in the US estimated to exceed 200 million.

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We responded to this by modernizing banks' digital platforms, introducing 'happy hours' for better rates and using data analytics for personalized services.

We supported several banks to meet the challenges of higher borrowing costs and changing customer needs, resulting in a 20-50% reduction in operating costs and a 20-30% increase in customer satisfaction.

Through our digital transformation, we have helped banks improve customer engagement, streamline operations and remain competitive in this challenging economic environment.

Innovation in Communication

2023 has followed in the footsteps of 2022 in transforming the way we connect, collaborate and engage in various aspects of our lives.

More people have come online than at any other time in history.

Recent studies show that the global digital population has surpassed 4.66 billion people, with internet penetration rates continuing to increase year on year (Statista, 2023).

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In the midst of this change, a social networking application we developed, ME, has taken significant steps towards building the future of digital communication.

With innovative features that allow users to see who has saved their contact and how they are labelled in other people's phones, as well as the ability to reconnect with past acquaintances, it has demonstrated the need for a movement towards more personalised and secure ways of interacting online.

This is evidenced by a 30% increase in user numbers and a 40% increase in engagement rates over the past year, figures that are a direct reflection of the appeal of our app and its ability to meet the evolving needs of today's digital users.

Our work with ME demonstrates how innovative features can enhance personal connections in a fast-paced digital age and raised the bar for what users can expect from digital communication platforms, in line with the industry shift towards more meaningful and secure interactions.

Digital Consumer Services

The consumer services sector is rapidly evolving, with mobile applications becoming central to its operations.

This shift is being driven by forecasts that the global market will grow to $20.9 trillion by 2027 — demonstrating the importance of digitisation in delivering personalised and effortless customer experiences.

Companies in the consumer services industry are benefiting significantly from the use of mobile technology, with a notable 130% increase in sales opportunities. This increase is due to their enhanced ability to interact directly with customers, offer customised services, and build stronger loyalty and connections.

​​​​​​​Consistent with this transformation in consumer services, Prsnt, an app we developed has revolutionised the gift-giving process, allowing users to send and share gifts effortlessly from their smartphones. Its position as one of the top 20 apps in its category shows the significant appeal for mobile-centric services and demonstrates how digital solutions are changing consumer preferences in traditional practices such as gift-giving.

eCommerce and Digital Marketplaces

With the eCommerce sector expected to experience significant growth, with an increase of 18% year-on-year and a compound annual growth rate (CAGR) of 12.9% from 2023 to 2028, the transition to digital platforms and online transactions is becoming a critical step for industries across the board.

​​​​​​​In light of this growing tendency, we have introduced a product — an ecommerce platform as a strategic response, to help businesses embrace and excel in the digital marketplace.

The essence of platform lies in its ability to simplify the transition to digital for businesses, ensuring they are well equipped to navigate the complexities of online commerce.

By offering a solution that integrates settings customisation, product management and sales operations into one unified system, the platform directly addresses the core needs of businesses that want to succeed online.

This approach not only facilitates the operational side of e-commerce, but also significantly improves customer engagement and satisfaction, fostering stronger relationships and loyalty.

Connecting Automation, Logistics, and Warehousing

The logistics market reached a value of USD 9407.5 billion in 2023 and is expected to grow at a CAGR of 6.4% between 2023 and 2032, reaching USD 15978.2 billion by 2032.

The expansion of the sector is attributed to the increasing need for efficient and effective transportation and storage of goods, driven by the growth of e-commerce and globalisation of industries.

The integration of advanced technologies such as AI, machine learning and IoT in logistics is enhancing route optimisation, warehouse management and predictive analytics, further driving the industry's growth.

This year, we've played a big part in this growth by helping companies use technology to get better at what they do, save money and work around staff shortages.

We've introduced systems that allow companies to better manage their warehouses and the movement of goods without having to hire outside help. This has made things cheaper and more efficient for them.

We've also used AI to help them make better decisions when managing warehouses, IoT to track goods in real time, and blockchain to make transactions more secure and transparent.

What's next?

Our efforts in open data, energy sustainability, financial services, communications, consumer services and e-commerce have shown how technology can help across a range of sectors. And we are committed to going even further. To put technology to work for the benefit of society, and to help every business become more effective and add value to the lives of its users.

As we look to the future, we're focused on delivering even better services, exploring new areas of growth and increasing our impact on a more transparent, efficient and sustainable future.