Quick Takes: 2023 Tech trends we are watching

2022 has been a year of transition for tech and the Canadian tech ecosystem. The focus went from growth at all costs and easy money to building businesses that could generate cash; Web3 saw crypto prices fall and companies implode, and generative AI emerged as the hot new thing.

As we prepare for 2023, we thought it would be great to share our thoughts on how tech and the Canadian tech ecosystem will continue to evolve.

This piece is meant to be an overview and over the next couple of weeks, we will go a bit deeper into a few areas. We believe trends are driven by three types of changes technology, behavior, and regulations. As such we are going to bucket them in those areas.

Technology Trends

Generative AI: 2022 saw Generative AI breakout with new open-source projects, cool products, and a few breakthrough companies. 2023 will see an acceleration of this with new companies, new ways to use the technology, and more awareness of Generative AI among the general public. h/t Elena Yunusov

Web3: 2022 was the start of the latest Web3 bear market. 2023 will continue to see the decoupling of crypto (e.g. tokens) from Web3 as builders will focus on the long term and build products that take advantage of the strengths of blockchains and NFTs.

Future of Work: Start-ups will continue to build the tech stack required to make fully distributed teams work. They will move beyond the skeuomorphic products that emerged at the height of covid and build new solutions. h/t David Huang

The metaverse becomes real: What is the Metaverse? It is whatever you want it to be. One area that is emerging and will solidify next year is real-time 3D in-browser technology leading to interactive experiences and marketing. h/t Alex St. Louis

3D printing reaches a tipping point: Improving quality and falling costs for 3D printed products coupled with climate concerns and logistics issues will lead to the continued adoption of 3D printing in key industries like Pharma, Automotive, and high-end consumer goods. h/t Dean Hopkins 

Behavioral Trends

The end of hybrid: Companies will go all in on distributed or in-office and build strategies around their choice. Hybrid is a compromise whose costs and complexities outweigh its benefits.

AI & Robotic augmentation of the workforce: Everywhere you look there are not enough workers from factory floors to programmers. AI is enabling robotics to be more flexible and affordable this will lead to the automation of tasks and the augmentation of humans. h/t Adam Delgado & Reuven Gorsht

Human connectivity: As people spend more time in the digital world there is a growing desire to have a reason to connect in real life. This will lead to many new companies helping people find a reason to connect and a strong resurgence of people attending events (get your ticket for January's Toronto event here). h/t Geoff Chan & Andrew Yeung 

Regulatory Trends

M&A changes: With tougher funding markets M&A volume should increase but the anti-monopoly, anti-technology sentiment in governments around the world will impact this space more than expected. Unexpected acquirers will emerge and many would-be acquisitions may become partnerships + investments instead. - h/t Derek Szeto

Pro-active regulations: This may be the most unlikely but may still emerge. Governments will try to get ahead of tech changes (e.g. generative AI, metaverse) and create regulations to avoid adverse consequences like high unemployment or loss of tax revenue.

There are other trends that will continue like the adoption of climate tech but what are the non-obvious trends we missed? Reply to this email to let us know.  

New Podcast: Founders & Funding with Helcim and Information Venture Partners

On this episode of Founders and Funding, Jane Podbelskaya of Information Venture Partners, and Nic Beique of Helcim sat down with Alex Norman to have a candid conversation about the funding process, what it was like working together and how they created a successful working relationship. LISTEN HERE

If you want to experience content like this IN REAL LIFE - Don't miss our next TechTO: Together #IRL Event of the new year! Join us on January 16, 2023, for the next installment of the series! - REGISTER HERE

Top Headlines and Content

• Want to see what other people are predicting for 2023. Check out LinkedIn's round-up.

• YouTube video of Bill Gurley's commencement speech on how to succeed in a career you love.

• Mark Ang of Second Closet presents what he learned after 1 year of growing his startup - learn from the past TechTO presentation here

TechTO Talent

Senior Growth Marketing Manager, Maker AI (Toronto, Remote)

Why is this cool? Maker AI is building the content infrastructure that companies leverage to build, scale and optimize their revenue engines. It's a chance to work 1-1 with the CEO, and have the opportunity to develop, plan and execute strategies for various marketing campaigns. APPLY HERE

Startup Founder | Blockchain, AI, ML Expert, Antler (Toronto, Remote)

Why is this cool? If you're experienced in Blockchain development with excellent programming skills, leadership abilities, and a passion for developing/improving tech solutions - this is your chance! Build a business under the guidance of a global VC right now. APPLY HERE 

Product Marketer, Gadget (Ottawa, ON)

Why is this cool? Gadget is on a mission to make development fun again. They are building a best-in-class tool for developers to build, deploy and scale applications really fast! In this role, you'll develop new customer acquisition channels, tell the product story and help developers understand the value of their product. It's your chance to own it completely! APPLY HERE

Product Marketing Manager, Partnerships, Cohere (Toronto, Remote)

Why is this cool? Cohere is working at the cutting edge of learning, building machines that understand the world and make them safely accessible to all. You will help develop key go-to-market plans and have the chance to work closely with key partners and internal stakeholders. APPLY HERE

Events and Links

Check out the interesting content, events, and happenings for the community here:

• TechTO Together: January 16, 2023 - Kick-off 2023 with us! - REGISTER HERE

• TechTO Together: February 6, 2023 - Announcements coming soon! - REGISTER HERE

Want to showcase your company, events, and opportunities to 60,000 subscribers across the Canadian Tech Eco-system? Reach out to [email protected] to learn more!