Verdict takes a look back at some key data points that demonstrated the highs and lows of 2023 for the technology industry.


Copyright: – “A Year In Data: Cloud Computing Tops Hiring, AI Deals Peak And M&A Deals Fall”


In the ever-evolving landscape of technology, 2023 has been a year full of significant innovation that continues to transform the way people work, live and interact with one another.

Artificial intelligence (AI) has grown at a tremendously fast pace and has developed into a cornerstone of the industry. The release of ChatGPT late last year has meant AI and generative AI (GenAI) have taken the world by storm. GenAI is being implemented into almost every industry, from healthcare and education to gaming and finance.

The increased demand for GenAI systems has made large language models, which the systems are trained on, the must-have thing for every Big Tech company and start-up.

The rapid rise of AI has brought increased pressure on governments to decide how the emerging technology will be regulated. In 2023, the world’s first AI Safety Summit was held in the UK where world leaders and industry professionals met to discuss the responsible use of AI and its ethical ramifications.

“AI regulation is in flux and not consistent across jurisdictions, but directionally it is moving towards more regulation everywhere, albeit with different approaches,” Josep Bori, research director at GlobalData, told Verdict.

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With a heavy focus on AI and GenAI throughout the year, the concept of the metaverse, once seen as the next big thing in the industry, encountered a severe drop in interest. Meta continued to release new virtual reality and augmented reality headsets throughout the year despite interest in the technology dropping as the focus switched to advancements in AI.

Global AI deals increased in 2023

The interest and advancement in AI and GenAI throughout 2023 has led to an increase in funding for the sector.

The value of global AI deals totalled $331bn throughout 2023, an increase from $211bn in 2022, according to GlobalData’s deal database.[…]

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