Foley Forward: Trends 2023

Energy convergence is a rapidly growing macro trend within the Energy Sector. What is “energy convergence”? Historically, the vast majority of our energy needs have been supplied by hydrocarbons (e.g. oil & gas and coal). Now, and as we move forward, there is an accelerated shift to a more assorted supply of energy sources (e.g. solar, wind and geothermal to name a few).

ESG is increasingly vying for airtime in oil and gas boardrooms as leaders grapple with how best tackle environmental, social and governance challenges.

As the pandemic highlighted issues in the global supply chain and as the United States intensifies its investment in clean energy, more renewable energy manufacturers than ever are considering onshoring (or nearshoring) manufacturing facilities in the United States.

President Biden has repeatedly discussed the need to onshore or re-shore U.S. manufacturing to improve national security and competitiveness.

The passage of the Inflation Reduction Act in August of last year saw the introduction of a number of new and expanded tax credits aimed at boosting onshore American manufacturing.

There was great speculation that the decreased valuations of 2022 would lead to a surge in M&A activity; however, activity this year has been much lower than anticipated.

The cloud computing market has grown at a rapid rate and is expected to continue that trajectory for years to come. With this increasing demand, it is important to stay up to date on the latest trends and technologies so you can make the most of the opportunities available.

In November 2022, OpenAI, a private artificial intelligence research laboratory and deployment company, introduced the world to its AI-enabled chatbot ChatGPT, leaving an indelible mark on the public and technology community, with the aim of benefiting humanity as a whole.

The New Year is in full swing and it’s time to consider the top trends in cybersecurity & data privacy our team expects to see throughout 2023.

As we look toward the future of SaaS, it’s clear that the landscape is changing rapidly. From AI to data analytics, the industry is undergoing a rapid transformation that is shaping the way businesses operate and interact with customers.

Recent turmoil within the cryptocurrency ecosystem has been covered by the media, leaving many to wonder what trends will be prominent in 2023.