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5 Technological Trends and How They Are Impacting Business

Technology is used in a variety of sectors within a business. Some might argue it is used in every sector! As technology changes, organizational leaders are finding new ways to leverage their tools in order to increase efficiencies and keep up with industry trends. Today, we have broken down 5 upcoming technological trends that we see as important factors that will continue to impact businesses in the future.

  1. Transition to Cloud Technology:

Organizational leaders are finding themselves asking when they are starting their transition to cloud technology… it is 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, also include your ROI. Once the cloud is implemented, you will save time and money in project startups. Organizations will also see benefits in terms of security, collaboration and disaster recovery. For more information read our blog post about “The Importance of the Cloud”.

  1. Cyberattacks will be focused on end-users:

Most organizational leaders recognize that they need to have basic security measures such as a firewall and a network monitoring system in place in order to protect themselves from cyberattacks. What is often forgotten about is your end-users and your end-points. This includes all your employees that are working from a desktop, a laptop or a mobile device.

Often, it is these devices that have many “work -in-progress” documents with important information. Therefore, backing up your endpoints is a significant step. Many cyberattacks are executed 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. The implementation of employee training is the first and most important step to educating your staff on the subject.

It has been predicted that organizations will also be increasing their budget and having a larger focus on network security monitoring and threat detection. A network monitoring system includes the collection and analysis of warnings signs that can detect and immediately respond to any cyber intrusions.

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

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, such as machine learning or deep learning. AI has been studied for a number of years but it wasn’t until the recent wave of interest, known as Deep Learning that scientists have really started to make advancements. Businesses will use AI to make decisions related to marketing, customer relationships and to improve supply chain efficiencies.  Click here for our recent blog post about how AI is impacting businesses.

  1. The 5G Era

5G is the fifth generation of cellular capability. Many say that 5G is still at its beginning stages, but in the next year we are expected to see many more 5G devices launch. This means that businesses need to start considering the implications.

When organizational leaders discuss 5G most talk about gigabit speed. With the increase in speed, one of the most common transformations will be in reducing communication delays. Businesses that rely on IoT (Internet of Things) technology will also see improvements as it will be easier and faster to connect multiple devices in order 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 greatly expand what businesses can do.

  1. Growing the Security Measures you have in place:

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 and the cyberattacks against end-users. Attackers are finding new vulnerabilities and it is up to leaders in the tech industry 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 be put into place to keep both organizations and their customers protected.

 

 

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