5 Technological Trends and How They Are Impacting Business

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As technology changes, business owners are finding new ways to use tools to increase efficiencies and keep up with industry trends. Today, we highlight five technological trends that will continue to impact your business today and in the future.

1. Transition to Cloud Technology

A graphic image of a mobile device connected to the cloud with many other devices within it

Business owners are realizing that they need to start their transition to cloud technology: it’s no longer a choice for many businesses. This is because so many companies have seen great benefits from the transition. Salesforce found that 94% of businesses claimed they saw an improvement in security after switching to the cloud. Meanwhile, 53% of businesses saw faster revenue growth compared to their competitors.

Many companies fear the initial cost of implementing cloud technology. When weighing the advantages and disadvantages be sure to consider more than just the initial price. Once you implement the cloud, you will save time and money improving the way your organization functions. You will also see benefits in terms of security, collaboration and disaster recovery. To read more about this, see our post The Importance of the Cloud.

 

2. Cyberattacks will focus on end-users

A locked computer on a desk, with a hacker exchanging the key to the computer for money from the owner

Most business owners recognize that they need basic security measures in place – such as a firewall and a network monitoring system – to protect their organization from cyberattacks. What is often forgotten is the end-users and end-points. This includes any employee working from a desktop, laptop or mobile device.

Cybercriminals execute cyberattacks on these devices through ransomware and phishing attacks. In order for the attacker to be successful, a member from the organization must follow the attacker’s request. Your network may be secure, but if employees don’t know how to spot signs of a cyberattack your organization could still fall victim. Implementing employee training is the first step to educating your staff on the subject.

Experts expect that organizations will also be increasing their budget and focusing on network security monitoring and threat detection. A network monitoring system includes the collection and analysis of warning signs that can detect and immediately respond to any cyber intrusions.

 

3. Artificial Intelligence (AI) will continue to impact business decision making

A closeup photo of a caucasian person's arm in a business suit shaking hands with a robot in a business suit

Artificial Intelligence (AI) will continue to get a lot of buzz in the next year. Forbes recorded  that 80% of enterprises already have some form of AI. Though it has been studied for years, it really wasn’t until the recent wave of interest in Deep Learning that scientists have started to make advancements.

Businesses will continue to use AI to make decisions related to marketing, customer relationships and to improve operational efficiencies. Here’s a deeper look into how AI is impacting businesses.

 

4. The 5G Era

A hand holding up a model of a city where everything is connected to 5G

5G is the fifth generation of cellular capability. While 5G is still in its infancy, we’re expecting to see many more 5G devices launch. This means that businesses need to start considering the implications.

When business owners discuss 5G, most talk about speed. With this increase in speed, one of the most common transformations will be reducing communication delays. Businesses that rely on IoT (Internet of Things) technology will also see improvements. With 5G, it will be easier and faster to connect multiple devices to provide insight into data about business operations. 5G will also allow for a leap forward with applications that use Artificial Intelligence or Augmented Reality. Currently, these types of technology need a Wi-Fi connection, but with 5G these tools will be much more accessible and can greatly expand what businesses can do.

 

5. Growing the Security Measures you have in place

Graphic done in blues and blacks that shows a lock in the middle of a computer circuit board.

Small businesses will continue to be interested in growing the amount of security measures they have in place in order to protect against cybercrime. This makes perfect sense given the trends of strong advancements in technology. Attackers are finding new vulnerabilities and it is up to tech industry leaders to find proactive ways to keep organizational data safe and secure. Implementing key practices such as firewall security, strong authentication passwords, a secure Wi-Fi network and data backup plans are great places to start. With organizations finding new ways to collect and leverage data, new security measures will continue to keep both organizations and their customers protected.

 

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