Top three tech trends shaping the future of businesses

It’s no secret that the world is changing. In the past, businesses were built to follow stable and traditional methods, relying on their physical resources for development. However, that isn’t the case anymore. People are working towards a digitally transformed world, and organisations must keep up with the trends following increasing consumer demands.

The current trend is for businesses to incorporate a more virtual approach to consumers, which comes with great opportunities and challenges that must meet technological advancements such as cybersecurity and data security head-on. Businesses must look out for impending technology trends to ensure they are in sync with customer exigencies.

Here are the upcoming top three trends to focus on in 2022.

1. Data for the future
According to Cloudera, the hybrid data cloud company, multiple organisations, especially within the banking industry, have turned to cloud adoption for business operations over the past two years.“Data-centricity remains a key pillar for all banking, financial services, and insurance organisations looking to undergo a technological transformation to grow. The hybrid data cloud will be the main focus point for decision-makers within industries going forward,” says Ahmad Shakora, regional vice president – Middle East, Turkey and Africa at Cloudera. The company also shared some statistics from their recent research, which showed that 57 per cent of businesses want on-premises resources, and public cloud, to be integrated within their system operations.

Meanwhile, according to Flexera, a platform that delivers SaaS-based IT management solutions, 80 per cent of businesses already have a hybrid cloud strategy. Security is essential for businesses to keep in mind while working towards the cloud transition. The fact that all of that data that belongs to a company is available online, on secure servers, of course, it can be vulnerable to cyber threats. To prevent potential cybercrimes from impacting businesses negatively, the next point of focus would be adopting cybersecurity platforms.

2. Cyber risks and data security
With the world going digital at a fast pace, businesses can be vulnerable to cyber risks. According to a report by PwC, organisations in the Middle East are more sensitive to cybercrime than any other country globally. Their survey revealed that 85 per cent of the respondents had experienced a cyberattack. Companies work towards adding several different technologies to maintain data security. Research shows that businesses aren’t the only ones learning about cybersecurity. Cybercriminals dedicate a lot of time and resources to improving attacks and launching more potent malware. Although businesses can evolve and learn these tactics, it is important to keep updating the security posture. With all the business data and modes of communication being online, it is safe to say that workplace structures are bound to transition too.

3. Remote working – The new normal
With the growing use of technology, remote working is becoming increasingly common. However, ensuring that employees don’t feel left out amidst the technology adoption is crucial. “Implementing a remote workspace is not as hard as it seems. To provide employees with a smooth transition, businesses have already begun adding tech-driven systems that enable teams to communicate easily while allowing employers to monitor the work in a budget-friendly manner,” weighs Amine Sadi, regional sales manager at Milestone Systems.

As part of moving into the technological era, businesses must adopt reliable, secure, and tractable technologies that ensure a great user experience.
“Companies often face challenges when managing employees from diverse backgrounds across different locations. The pandemic has changed the definition of having an ‘office’. We believe that in today’s work environment, it is crucial to invest in the right kinds of platforms and professional communications tools for employees to experience a more inclusive workspace, giving them a space to be more collaborative while bringing a sense of equality remotely too,” states Bob Aoun, director of Sales at Poly.

According to employee engagement research by HR Cloud in 2022, businesses with an engaged workforce are 21 per cent more profitable and 17 per cent more productive than companies that don’t pay attention to employee engagement.

Technological evolution
As technology evolves, the market brings newer mechanisms to businesses and consumers. One of the significant impacts the shift has had on businesses seems to be the ideology behind how data is perceived. Data used to be essential information that many people didn’t really know how to use efficiently. However, with the development of technology, businesses now look to analyse their data to understand what they can do better and achieve growth.

“The pandemic has forced a significant technological evolution worldwide in terms of collaborations and communication. Now that we have tested what technology can do, things won’t be slowing down anytime soon. The need for transformation and staying consistent with consumers is important considering the maturity of new demands. The rapid technology development comes as a boon, as we are obligated to look into digital solutions allowing businesses to flourish and continue serving a larger client base,” emphasies Ola Lind, CSO at FTFT, CEO and director at FTFT Capital Investments.

Overview
The key point to note is that technological advances will not stop or slow down anytime soon. As the dependency on technology grows, consumer demand will accelerate. Businesses must keep up with these advancements to survive in this evolving market. Based on what has been witnessed to date, it is safe to say that remote working is here to stay, hence increasing the value of data analytics and the need for cybersecurity.

Read: Top five privacy trends to protect personal data challenges through 2024