The world is inundated with data. Companies require computing power that can keep up as they try to leverage that data to make informed decisions. This is where edge computing comes in. The technologies that enable and surround edge computing and how enterprises use these technologies are all evolving.
Over the past decade, the technological concept of edge computing has become increasingly popular in the business world. But since unstructured data started to become a significant force in the industry, it has really started to gain traction.
While the direction of the economy is uncertain, one thing seems likely: edge computing is expected to make a considerably more significant impact in 2023.
How will edge computing affect how organizations function in 2023? Here are a few trends in edge computing to look out for:
The rise in Structured and Unstructured Data
Unstructured data has grown to be a significant problem because it needs to be found and managed in some way. In particular, this increase in unstructured data has been connected to the exponential growth of the Internet of Things (IoT) devices.
Processing will be required for all data, both unstructured and structured, especially from IoT devices. The logical way to process IoT data is on the edge rather than bringing it into the central system for mining and processing for valuable insights.
IoT devices are a data tsunami of unimaginable size, and the edge is the best and maybe the only place to mine that data for data insights. And in 2023, there will be even more of them.
Everyone is aware of the one basic fact regarding 5G: it promises faster data processing.
After successfully emerging from the drastic pandemic period, numerous technology nations have developed robust 5G networks. Hence, more edge computing will be feasible in terms of proximity to the data source. How that works in terms of specific industries and companies is yet to be understood.
But the ability to quickly offer a lot more edge computing is crucial to a whole new realm of business capability for technology. If decision-makers haven’t begun considering how 5G and edge computing could help their company, their competitors very well may have.
To fully leverage the opportunities presented by 2023, organizations must begin planning how to make the most of the technology mix right away, from quick data gathering to enhancing digital experiences remotely with low latency.
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Machine Learning is now possible at remote locations in the kinds of timeframes that were previously only available to non-ML applications thanks to edge computing. Edge computing will normalize ML at a distance and speed if it finally becomes widely adopted in 2023. By reducing latency to acceptable levels in the process, it will enable customers and employees to trust in the outcomes and uses of AI and ML in ways they previously wouldn’t have.
The need to find less expensive alternatives to the cloud will be even more pressing in 2023 than it has been so far, with cloud storage becoming costlier and inflationary pressures mounting on every industry, especially given the requirement to process unstructured data, frequently across multicloud environments. Edge computing can assist in deferring the costs of otherwise needed cloud storage by keeping data processing away from infrastructure silos.
The upcoming year is likely to bring companies significant business benefits in terms of what they can do on the edge whether the focus is on customer data capture, or whether the advantage of greatly reduced latency with the edge computing and 5G combination will reduce the financial burdens on the them.
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Prangya Pandab is an Associate Editor with OnDot Media. She is a seasoned journalist with almost seven years of experience in the business news sector. Before joining ODM, she was a journalist with CNBC-TV18 for four years. She also had a brief stint with an infrastructure finance company working for their communications and branding vertical.
