Trends Reshaping Tech Industry in 2023

Posted on December 29, 2022 | by TeresaPenafiel | 5 Comments

Many organizations had anticipated that the post-pandemic growth would continue in 2022. Instead, they experienced a harsh awakening due to broad increases in inflation, energy shortages, and the decline of the tech sector.

Due to this challenging economic landscape, it is an excellent moment to modify how we conduct business and a pivotal time to adopt new technological solutions that aid organizations in navigating these times and utilizing them as a competitive advantage.

We examine the technological changes that will impact business in 2023 and recommend that you keep up with them.

6 Technology Trends Reshaping 2023

1. AI and Security Everywhere

Securing the data transmitted across smart grids will be one of the important themes for 2023, closely related to IoT devices. Companies will prioritize enhancing these gadgets’ security capabilities, and artificial intelligence will play a key role in this effort.

With the development of 5G, more gadgets will be able to connect, and communications will be faster. AI and machine learning enable decision-making processes to be swiftly automated and enable the creation of patterns from incomplete or altered data, bringing a more proactive approach to security solutions.

The algorithms gain knowledge from reliable threat data, which enables them to identify risks more quickly, achieve a low margin of error, foresee potential threats, and assist cybersecurity professionals in developing stronger policies.

2. Wearable Medical Devices

By 2023, more people will be using wearable technology to check their personal fitness and health and monitor patients from a distance. The IoMT (Internet of Medical Things) has grown quickly in recent years from basic monitoring devices for vital signs like heart rate and blood oxygen levels to smartwatches with ECG capabilities, smart textiles that can detect blood pressure and foretell the likelihood of heart attacks, and smart gloves that can lessen Parkinson’s disease patient’s tremors.

In addition to physical sickness, there is an increasing focus on creating wearable technology that is able to track and identify symptoms of mental illnesses. We may soon start to see medical wearables including some of this capability, as research published this year demonstrated how physical indications like activity levels, sleep patterns, and heart rate may be used to determine when people may be at risk of depression.

3. Internet of Behavior (IoB)

A new communication protocol and ecosystem called the Internet of Behavior (IoB) are being created to make it possible to track, manage, and model human behavior. In essence, it’s an expansion of the Internet that will enable technology to respond to human emotion by observing how users interact with their digital tools. It could be applied in professional contexts as a means to track and comprehend the client experience.

This technology will enable companies to more accurately predict client behavior, making it one of the newest trends in software development.
IoB makes use of applications, sensors, wearables, and other tools to gather information about how users interact with their devices and turn that information into useful business data. The technology has been released gradually over the past few years, and some reports claim that by 2030, it will be worth $2 trillion.

4. Virtualizing the Clinical Trial

The path to commercialization for potentially life-saving medications and therapies is steep.

A successful medicine takes 10+ years and $2.6B on average to study, develop, and commercialize. A new method of cutting costs and speeding up timelines while minimizing the danger to human or animal test subjects is the silico trial, which uses computational models to predict how a medicine, medical device, or intervention will influence a virtual population.

Although the technology is still at an early stage, medical devices and pharmaceutical companies have recently begun to employ it more frequently.

5. Development of Autonomous Systems

Business leaders will keep developing autonomous systems, notably in the delivery and logistics sectors. Many warehouses and factories have already attained partial or complete autonomy.

By 2023, more autonomous cars, ships, and delivery robots will be on the road and more automated factories and warehouses.

6. Growth of Python

Python is a language that may be used for any type of modern development. This language is applied for web development, mobile development, or enterprise projects. Indeed, python’s capacity to enable performing sophisticated mathematical operations, data analysis, machine learning, and neural network construction sets it apart from other universal languages.

After Java and C, the language is now ranked third in terms of popularity. Its growth rate is incredible; the demand for the language doubled. Additionally, Python doesn’t take long to learn and may be used for very complicated projects by programmers with higher degrees of expertise.

To sum up, businesses that are focused on innovation and quickly adopt new technologies stand out from the competition when times are rough. Nothing will change in 2023. Businesses that are prepared to try out new technologies and invest in building infrastructures to support these experiments without putting customers at risk will succeed.

About ITJ
ITJ is devoted to serving fast-growing and high-value market sectors, particularly the Internet of Medical Things (IoMT), working with innovative medical device companies looking to improve people’s lives. With a unique BOT (build, operate, and transfer) model that sources only the best digital talent available, ITJ enables companies in the US to create technology centers of excellence in Mexico. For more information, visit www.itj.com.

The future of diabetes treatment

Posted on August 9, 2022 | by TeresaPenafiel | 4 Comments

More than 130 million adults are living with diabetes or prediabetes in the US as of January 2022. The latent danger this metabolic condition represents for so many people around the world is unprecedented, and people expect enhanced and innovative treatment methods.

New technologies are being developed to build diabetes devices that improve patients’ lives. For instance, continuous glucose monitoring, mobile apps that count food volume and carbohydrate levels, and insulin pumps. Easing pain and improving dosing precision are just some goals of future diabetes devices. Innovation in the area continues, and many more patients can soon access the newly available technology.

Some aspects of this process can be aided by technology like the following:

Diabetes Devices

People with diabetes today witness technology for the first time that allows healthcare companies to operate their medical equipment via mobile apps, including remote insulin dosage. This feature has been hinted at for many years but has yet to be approved for use in diabetic devices by the Food and Drug Administration (FDA). Nevertheless, the advances continue, and the diabetes devices available in the market are:

All-in-one-Devices

MIT and Brigham and Women’s Hospital researchers are developing an app that recognizes and quantifies food composition, benefiting diabetics in carbohydrate counting.

The first gadget consists of a lancet, glucose test strips, and an insulin needle. Users would first take a photo of their meal with a smartphone app to assess the food amount and carbohydrate levels. They would then begin the automated process of taking blood, calculating glucose through the app, and providing the correct insulin dose.

The second device requires one needle poke, which includes the glucose sensor into the insulin needle and administers the necessary quantity of insulin. It has a waiting time of 5 to 10 seconds.

IoMT for Diabetes

The rise of the Internet of Medical Things (IoMT) in the industry allows continuous, remote, and real-time patient monitoring. IoMT technology connects patients and physicians via medical devices, providing remote access to gather, process, and send medical data via a secure network. Additionally, these technologies help reduce needless hospital stays and related health expenses by enabling wireless monitoring of health indicators.

The innovation in the healthcare and life sciences sector has reached treatments for diabetes, including software features such as dosage assistance, information, and reminders to aid users in making better health decisions based on their device readings.

The IoT in healthcare is one of the fastest-growing sectors, predicted to reach $176 billion by 2026. And the new goal for 2023 is to expand diabetes device use and include more people with type 2 diabetes in their treatments.

Adopting diabetic technology and new treatments will help what the World Health Organization considers to be an epidemic expected to affect 700 million people by 2045. With the aid of technology and innovative treatments, like the all-in-one device, doctors can reduce diabetes complications and other problems. Finding new routes to improve patients’ lives and technology implemented to facilitate processes has now become imperative. By doing so, a greater number of individuals may be helped, and the application of IoMT in diabetic operations is ushered into a better new tech environment.

For more information about the IoMT and what it is, visit IoMT and Medical Device Cybersecurity.

About ITJ

ITJ is devoted to serving fast-growing and high-value market sectors, particularly the Internet of Medical Things (IoMT), working with innovative medical device companies looking to improve people’s lives. With a unique BOT (build, operate, and transfer) model that sources only the best digital talent available, ITJ enables companies in the US to create technology centers of excellence in Mexico. For more information, visit www.itj.com.

Reasons why the Healthcare & Life Sciences sector is stronger than ever

Posted on March 18, 2022 | by TeresaPenafiel | 3 Comments

Why does the healthcare & life sciences sector is stronger than ever? When governments worldwide began to tighten their belts two years ago, mired in lockdown with precedents, life sciences businesses might have chosen to reduce their risk, cut down on investments, and ride out the storm. Instead, they sailed right into the hurricane’s eye. Rather than cutting down, several of them increased their efforts in research and development to enhance both science and technology.

To know more about the Internet of Medical Things and other advances in the healthcare and life sciences industry, you can visit The Internet of Medical Things: The Healthcare Revolution.

The findings made by FTI Consulting suggest new advances for the healthcare and life sciences sector, building on the momentum from the previous year and looking ahead to 2022. The worldwide Life Science and Chemical Instrumentation market is expected to be worth USD 43,080 million by 2026, up from USD 40,760 million in 2020, at a CAGR of 5.3% between 2021 and 2026. And the worldwide biotechnology industry was predicted to be worth $449 billion in 2019 and is anticipated to be worth $727.1 billion by 2025. Not only do the numbers represent an increase in revenue (and, by default, investment) in the sector, but also the federal government aided in the reduction of regulatory hurdles and invested billions of dollars in R&D.

With all these in mind, the future of the Healthcare & Life Sciences sector stands in:

Paying attention to scientific breakthroughs that are likely to continue. For instance, if you are an investor or a former company leader, you might like to review the former healthcare logistics and know-how of today and the road life sciences organizations will be taking soon. Companies in the life sciences, for example, have totally altered the way vaccines are created. The speed with which the vaccinations were developed, authorized, and distributed has been nothing short of astounding. In addition, manufacturing, testing, logistics, digital supply chains, and virtual clinical trials have also experienced considerable developments.

You also will have to realize that companies will likely have access to a more diverse and varied talent pool. Over the last few months, many of us have become acclimated to working from home. While the pandemic altered how we worked, it also spurred many health sciences firms to reconsider their strategy for attracting and retaining talent. Geography is no longer an impediment to attracting the finest and brightest. Even if it is challenging, the capacity to conduct a task online might help corporations balance their access to talent and science. This is a neutralizing factor that may assist put all organizations on an equal footing in terms of finding the proper personnel for every element of their business.

Finally, have present that AI has come to stay. AI is now beginning to be integrated into the company mix and transitioning from experimentation and pilots to complete integration—from R&D to accounts payable. To yet, firms have not seen a return on investment from AI that is commensurate with the hype. However, life sciences organizations will not realize the full potential of AI until it is integrated into an enterprise-wide strategy. Every time a process is digitized, there is a potential to acquire new information and increase efficiency by incorporating some amount of artificial intelligence and data science. COVID-19 has hastened the acceptance of this potential, which has been building for some years.

Tag: IoMT