By Alan Hayward, Sales and Marketing Manager, SEH Technology
One thing is for certain, nothing in the technology industry is ever guaranteed. The unforeseen tech developments experienced in the last two years have continued to prove that the tech industry is a rapidly changing and adaptive sector. Despite it being difficult to predict, certain trends such as digital transformation occurred amid the pandemic. What’s more, there are also clear tech trends emerging that are set to dominate the industry in 2022.
This past year, business models have been reimagined on a global scale with supply chain restructures and remote workforces proving that productivity can thrive virtually. The advancement and creation of new technology has been swiftly realised as businesses of all sectors have transformed throughout the process of tackling large-scale global challenges. As a result of this, the tech industry will have to navigate maintaining and building upon the momentum of the past two years. Diverging from previous years, 2022 will not only be led by new innovations but must also be grounded in embracing and accelerating the innovation that has already been tapped and optimise this for the new global reality.
With 61% of companies expecting their revenues to increase in 2022 and worldwide IT spending set to exceed $4.5 trillion in 2022, an increase of 5.5% from 2021 the adoption and growth of new technologies is inevitable across the industry. From artificial intelligence becoming increasingly involved in business processes to urgent strides being taken for cybersecurity, here are the four trends the tech industry can’t afford to overlook in 2022.
Artificial Intelligence Becomes The Voice Of Reason
Artificial intelligence is by no means a new technology and has quickly established an integral role in our daily lives through smartphones and their various applications. However, artificial intelligence is still in early stages of development and will only continue to grow as it becomes more sophisticated, with McKinsey estimating that by 2024, AI-generated speech will be behind more than 50% of people’s interactions with computers.
Artificial Intelligence is not just reserved for the newest consumer gadgets, it is also being adopted by businesses to improve efficiencies, cut costs, and to help automate processes across a range of industries. Although sales will certainly remain a very personable and uniquely human role, AI helps sales teams to improve forecasting, predict market trends, and improve customer communications. Advanced CRM software is able to assist a salesperson by reminding them which customers to follow up with, and can even help to identify customers that are most likely to convert.
Evolving Threats Increase Investments Into Cybersecurity
With most businesses resorting to remote or hybrid working practices throughout and after the pandemic, workforces are increasingly operating nationally or even globally and relying on technology to facilitate this change. However, employees may not be technically advanced or familiar with being responsible for their own technology and security. Attackers are increasingly targeting weaknesses in home network environments and exploiting the complexity of users working from home with ransomware attacks occurring every 2 seconds around the world.
To prevent cyberattacks, companies are looking for innovative technology to protect major financial and reputational losses. In the coming year we are likely to observe a shift from traditional passwords to advanced authentication security as more businesses adopt multi-factor authentication (MFA). The increase in off-site workers and the dynamic nature of modern working will necessitate adaptive MFA measures to account for regular changes in device usage, location, and login times.
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5G Makes IoT A Reality
Faster digital connections, powered by the 5G network, represent the next generation of mobile communication. The speed improvements offered by 5G have the potential to boost growth globally, however this will especially offer a catalyst for the Internet of Things (IoT). Many “things” such as cars, homes and appliances are now being built with WiFi connectivity, which enables them to be connected to the Internet and each other. The IoT has already enabled devices, home appliances, cars and much more to be connected to and exchange data over the Internet. The improved efficiencies offered by the 5G network will continue to benefit businesses that rely on IoT in the future.
Total Experience Strategies Will Transform Digital Interactions
It is clear to see the opportunities that artificial intelligence and machine learning offer all aspects of a business, however many companies are realising the importance of a human touch in both customer and employee experiences. In 2022, the consideration of overall experiences will create a move towards total experience (TX). This is because more organisations across industry sectors will realise that they cannot separate customer and employee experience strategies into silos, but instead must embrace TX to provide a more integrated approach internally and externally.
TX combines customer experience, employee experience and end-user experience. As a result, each experience’s leader is equally responsible for the combined needs of customers and employees. The idea is to increase customer and employee confidence, satisfaction, loyalty and advocacy. Technology plays a core role in TX success, as it’s adoption heavily relies on how organisations use technology and interactions to enhance experiences and empower both customers and employees.
Trends such as TX prove that as technological advancements evolve rapidly it is key that organisations maintain their relationships with their employees and end-users as people and tech remain undeniably integrated. It will be fascinating to witness these trends come to the fore in 2022 and observe how the tech industry continues to develop in the face of such large-scale transformations.