From the continuing advancement and leveraging of artificial intelligence to developments that make even online shopping a ‘hands-on’ experience, technology is composed to continue transforming the way we live and work in 2022. The confluence of technologies is completely altering how we live and transact and will ultimately drive decisions on how we make money. Looking forward to the new year, management teams should recalibrate based on the following technology trends for 2022:
Prioritising Decision Intelligence
Decision intelligence integrates a variety of decision-making techniques with artificial intelligence (AI), business intelligence (BI), automation, machine learning (ML), and forward-thinking decision-makers to drive a meaningful impact on your organisation. Study shows by 2023, more than 33% of large organisations will be practising decision intelligence and modelling. In addition, by 2025, data stories will become the most widespread source of valuable insights.
Businesses can use decision intelligence to understand and focus on high-impact sales activities, identify sales opportunities most likely to close, and even help reps to update their sales forecasts in real-time. Like all tech-focused initiatives, understanding decision frameworks and deploying AI models is crucial. As a result, businesses will achieve a higher return on data and advanced technology investments, with the prospect of gathering actionable intelligence that powers more progressive decisions.
Hyperscaling your Cloud Journey
At a business level, enabling the cloud is critical. The majority of organisations’ apps need to be hosted in some sort of cloud, and hence for many, this means working with a hyperscaler. For example, AWS, Microsoft Azure, Alibaba Cloud, and Google Cloud had combined revenues of $86 billion in 2020. In 2021, the combined revenue of the four hyperscalers mentioned was expected to surpass $121 billion.
To aid fluctuating and high demand, data centres are built on thousands of physical servers and millions of virtual machines. The result is easily accessible, cost-effective, reliable, and scalable resources. For businesses, hyperscalers’ architecture offers next-level performance without the complexity of managing a corporate data centre. Thus, using hyperscalers offers a level of reassurance for the future.
Adopting a Total Experience (TX) Strategy
TX will seek to identify intersections of customer experience (CX), employee experience (EX), and user experience (UX), helping organisations to deploy the most impactful solutions. A study shows that 36% of consumers tried a new brand during the pandemic, and 73% said they intended to stick with those new brands. A TX focused company can leverage this switching to their benefit by creating a winning experience across every touchpoint.
A TX strategy will improve the overall experience, breaking down silos while integrating technology and differentiating businesses in a way that is difficult to match, creating a sustainable competitive advantage. In addition, by making meaningful investments in integrated smart technology to allow cross-disciplinary engagement, teams work like a well-oiled machine while snagging higher affinity and satisfaction from customers, employees, and users.
When AI meets IoT
The consolidation of AI & IoT will redefine the way industries, businesses, and economies function. AIoT creates machines that simulate smart behaviour and support decision making with little to no human interference. Moreover, intelligent AIoT offers insights into which redundant or time-consuming processes can be fine-tuned to magnify the efficiency. E.g. Google’s reduction in expenditure to cool their data centres.
By applying AI & IoT trends, Deloitte found out that there are 20-50% reductions in their time invested in maintenance planning, 10-20% increase in equipment availability and uptime, and 5-10% reduction in maintenance costs. The AI-powered IoT ecosystem will analyse and summarise data before transferring it to other devices. It reduces large volumes of data and allows connecting a large number of IoT devices. Thus, it increases scalability.
Need for Cyber Resilience
Evasion techniques such as dodging detection and working around security protocols have become top approaches, with hackers investing time and upskilling to understand security tooling better than most businesses do. Reportedly, a 300% rise in cybercrime was reported following the COVID-19 outbreak. Additionally, as more employees have moved their work from the office, hackers are taking advantage of this opportunity by threatening highly vulnerable business networks.
Cyber resilience aims to bolster your ability to always deliver. This includes restoring regular mechanisms or modifying mechanisms continuously even after a crisis or after a security breach. Cyber resilience is needed to identify, assess, manage, mitigate and recover from malicious attacks. A comprehensive resiliency program will help businesses maintain business operations during uncertain times.
Although technologies are unwinding and evolving all around us, these top technology trends offer promising potential today and for the foreseeable future. With digital changeover becoming an increasingly important part of success for organisations looking to compete in the global marketplace, staying on top of these latest technology trends of 2022 for business is no longer optional. Let’s hope that the resulting innovation makes the world better for people and businesses alike!