2022 saw an easing of lockdowns and restrictions imposed during the Covid pandemic, heralding a return to normality in many parts of the world. However, several global crises raised a new set of challenges: the Ukraine War, the climate crisis, escalating energy prices and the resulting impact on inflation, geopolitical instability as well as the threat of recession. Their impact is felt in different ways across the tech sector.
Against this backdrop we have seen our clients redefine the way they work, their focus and their ambitions, most notably in the area of ESG. Economic headwinds have caused companies to prioritise their innovation and change agendas. At the same time governments around the globe assess the need for new regulation, both for our climate and digital environment.
The easing of travel restrictions allowed our Tech lawyers to meet with their international colleagues and clients for the first time in two years. We used these opportunities to discuss and debate the issues that our clients across the globe have identified as being of significant importance to their business, for the way they innovate, operate and to become more resilient in the face of the challenges posed by the digital world and ESG considerations.
Nine areas featured heavily in our discussions, namely: Artificial Intelligence; Cloud & IoT; Cyber Security; Data; ESG itself; 5G & 6G; the Metaverse; NFTs, Tokens & Blockchains and, finally, Quantum Computing.
Our 2023 report draws together a range of predictions and observations from our Tech & Comms lawyers, focusing on these nine areas and the developments we expect to see over the coming year.