Axiom's sponsorship of Monitorama 2023 in Portland highlighted key insights into current trends and challenges in observability and monitoring. Observability practices are increasingly reliant on connected, multi-modal events, with OpenTelemetry and eBPF gaining popularity for event correlation and instrumentation. Economic pressures are prompting innovation as the cost of monitoring rises, leading companies to explore solutions like ClickHouse for cost efficiency without sacrificing performance. SLO-based alerts are becoming crucial for cutting through alert fatigue, promoting actionable responses, and enhancing team focus. While AI in observability is met with skepticism, its potential to facilitate system exploration and insights is acknowledged. Additionally, the role of mathematics and statistics in monitoring tools is emphasized, underscoring the importance of making these concepts accessible for problem-solving. Axiom plans to apply these learnings, focusing on new solutions such as lower pricing, distributed tracing, and a Grafana plugin.