Cutting Edge Technology 2023 in Software Engineering

The article discloses the latest high-tech solutions in custom software engineering that Fively recommends to advance and innovate your business in the upcoming year. Building custom software development solutions, our specialists implement all the breakthroughs and best practices from the world of engineering. First, Fively software specialists test them, then we give them a go, and if they lead to a better result, we start to use them regularly. Today we will tell you about cutting-edge technology 2023 we Fively use to build smart, scalable, and secure software solutions for your business.

What is New Cutting-Edge Technology?

Cutting-edge technology (also known as leading-edge or state-of-the-art technology) are technological solutions, machines, devices, services, techniques, or achievements that employ the most current and high-level IT developments. New cutting-edge technology helps the leading and innovative IT industry organizations to come to business, technological and programming breakthroughs.

Examples of New Cutting-Edge Technologies

Let’s look at some examples of cutting-edge technology and see how they benefit companies in various industries.

By now, AI, ML, AR, and VR technologies are widely used in such niches as entertainment, medicine, banking and finance, automotive, repair and maintenance, quality assurance, design and assembly, immersive training, car, and airplane simulators:

• In healthcare, AI helps to increase clinical efficiency and accuracy, boost diagnosis speed, improve patient outcomes and facilitate their recovery with precision medicine and robotics surgery. It also helps to get rid of the long queues to the doctor and monotonous paperwork thanks to chatbots and NLP applications able to understand and classify clinical documentation;
• In telecommunications, the latest software technologies implied in self-optimizing networks (SONs) like Netflix allows gaining insight into customer behavior and predict industry trends, improve and specify customer experiences, and optimize 5G network performance. Experts at McKinsey say that about 66% of telco organizations expect to integrate AI and ML into their processes within the next two years, compared to only 37% in 2021.
• Insurance and financial companies use AI and ML-based chatbots and workflow automation solutions to digitalize their claims processing, personalize customers’ experience and create user-based insurance services, improve risk analysis, and better detect fraud and money laundering, which altogether helps to differentiate their services in a broad marketplace.
• The automotive industry has transformed greatly in the past few years thanks to AI and ML adoption across the industry. Combined with the implementation of electric and autonomous vehicles, and predictive maintenance models, this industry has now far better KPIs, operational outcomes, and overall profitability than even 5 years ago with Tesla as a key player.
• The energy sector adopted AI and ML cutting-edge technologies together with the new ways of producing, storing, delivering, and using energy changing. This has also happened due to global climate concerns, changed market drivers, and significant technological advancements. Now energy companies from all over the world use AI and ML for developing intelligent power plants, shortening consumption and costs, developing predictive maintenance models, optimizing field operations, as well as improving energy trading.