Under The Radar Trends To Watch In 2023

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Is it too late to start making predictions about 2023? Hardly. While Generative AI looks like it will dominate the discourse and attention of many headlines this year there are also a lot of innovations, noteworthy pivots and things to keep an eye on this year.

What Could We Achieve If The Average Drug Took Two Years Instead Of Ten To Develop?

Other things get discussed more in politics but in September, the White House signed an Executive Order to launch a National Biotechnology and Biomanufacturing Initiative. The Initiative is designed to create more independence for America’s fragile supply chain, introduce well-paying jobs and lower prices.

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For many biotechs, delivering rapid innovation with good returns can seem insurmountable when faced with a myriad of other challenges, such as fewer late-stage assets, heightened consumer expectations, new pricing legislation, and increased cyber threats.

Deloitte recently reported on the key priorities for biopharmas to stay competitive. Aside from expanding global reach, the top priorities named include strengthening R&D and improving the use of digital and IT technologies.

Whether it’s pharma companies like Bristol-Myers Squibb and Merck, or research universities like MIT and Oxford, many are working with Dotmatics to quickly implement key changes in their research systems and processes.

This includes everything from modernizing lab practices to reduce scientists’ dependence on paper notes and spreadsheets, to harnessing the promise of AI and machine learning in the drug discovery lifecycle. Companies like Dotmatics also help biotechs navigate the regulatory shifts that come with electronic record keeping and greater utilization of data.

Ultimately, such tech partnerships free biotechs to focus their time, money, and expertise on what matters most—the science that will help them make better therapies faster and increase their chances of success in a volatile market.

How Are People Adjusting To A Shift In The Housing Market?

While people may not be paying 20% over ask, all cash and waiving inspections the housing market hasn’t cratered. Most people who have owned a home for even a few years have seen a substantial increase in equity. But with prices staying level the incentive to sell becomes less. So this next number won’t be that surprising.

According to a MeridianLink survey, one of the nation’s leaders in modern software platforms for financial institutions, 21% of homeowners are considering a home equity loan this year. That’s a sharp increase from 8% last year.

“For established homeowners with good credit, home equity loans can be a safe, predictable way to live well based on the equity you've built and earned to-date,” said Tim Wheeler, Vice President of Consumer Lending at Fortera Credit Union. “We could not be more pleased with our partnership with MeridianLink and our combined ability to meet the home equity needs of our joint members and customers."

This also speaks to the confidence many still have in the housing market and their willingness to take some equity now and wait for a better time to sell in the future. Prices naturally can’t go up indefinitely but new house builds are also at a low so without an influx of new inventory in many regions, don’t expect a precipitous drop in housing prices.

Where Gen Z Is Finding The Most Job Growth

Spoiler alert, It’s a mid-sized company that values work/life balance. Lindsey Munster, a software developer at Bandwidth, a universal communications platform leader based in Raleigh makes a solid case for why. At roughly 1200 employees Lindsey points to a few things that made this ideal after graduating from college during the pandemic and entering an unsure job market.

At a mid size company your work still matters and is critical to the success of a small team and the organization. “Unlike some of my friends’ experiences in Big Tech, I’m not just doing maintenance on long-established products, I’ve been able to build new apps from start to finish, and work with a lot of people across teams along the way,” says Munster.

This recognition and career growth also comes without the late hours and intense pressure of a startup. It’s a beneficial middle ground. Bandwidth has something called the “Whole Person Promise” that encourages people to maintain a work/life balance with a shuttle bus to a gym and quarterly challenges for mind, body and spirit to earn extra vacation time.

Navigating A Tricky Year On Many Fronts

According to the 2022 Kaspersky Security Bulletin (KSB), the geopolitical environment presents an especially high risk of increased ransomware attacks for businesses in 2023. Faisal Bhutto, SVP of Cloud and Cybersecurity at Calian IT & Cyber Solutions, says even if businesses aren’t directly associated with an attack or geopolitical conflict, there can still be repercussions and ripple effects.

 

Businesses can protect themselves by increasing monitoring of their environment and revising their cyber incident response plans. Of course businesses may already be enhancing cybersecurity due to regulatory compliance standards - another big anticipated trend for 2023.

Lakeside Software, a leader in digital employee experience (DEX), is using predictive technology to create proactive alerts that identify and prevent issues before they escalate. This allows organizations to predict, alert on, and prevent technology issues - such as network, web application, desktop application, hardware, operating system, or virtual desktop infrastructure (VDI) issues - from becoming widespread business disruptions.

Eastern Europe has been a great recent resource for outsourcing tech related jobs over the past decade. But with increasing unrest businesses are shifting focus to nearshore options in Latin America.

DNAMIC is a full-service nearshore outsourcing firm that has been the bridge between companies in the US in need of technical talent or in need of technological help and top talent in Latin America. Because of the closer time zones, Latin American software developers can offer real-time collaboration, cultural affinity, English language proficiency, and top technical skills.