In 2023, when people think of technology, they think of artificial intelligence—especially generative AI, such as ChatGPT. But according to a recent 2023 Outlook report from the McKinsey Technology Council, there are other technologies that are currently being widely deployed and will have a significant impact on the business world and social development. The study is based on an analysis of quantitative measures of the interest these technologies have generated, their innovative components, and the investments they are attracting.

Obviously, generative AI ranks high on the list, given its potential to take assistive technology to a new level, reduce the time required for application development, and provide powerful capabilities to non-technical users. It is estimated that generative AI will contribute as much as US$4.4 billion in economic value through its use in both specific applications and broader areas that will boost productivity.

What other technologies have caught investors' attention? The so-called "trust architecture", which aims to prevent data breaches through network architectures that eliminate the concept of trust within the network itself. Along the same lines, digital identity technologies are also on the rise.

Along with the increasingly widespread use of the cloud for data storage, technologies such as edge computing have also undergone a continuous process of innovation that promises double-digit growth over the next five years. But what is Edge Computing? It basically refers to technologies that enable operations at the edge of the network—that is, they bring data processing power as close as possible to where the data is being generated. This technology is vital for processes—such as many in the so-called Internet of Things—where a difference of milliseconds in data access is critical.

Another technology that, although still in its early stages, promises to create significant value is what is known as quantum computing, a branch of computer science that draws on the principles of matter superposition and quantum entanglement to develop a form of computing distinct from traditional computing. The main industries that would benefit from this technology—automotive, chemicals, financial services, and life sciences—could gain US$1.3 billion in value by 2035 thanks to its development and implementation.

Here are the 15 technologies that are setting trends, according to the McKinsey Technology Council:

You can view the full study here