Due to many factors, 2020 and 2021 were years where IT came to the forefront for many businesses. Government mandates created additional guidelines for health safety, workplace changes, and IT overhauls. Now more than halfway through 2022 and with fewer restrictions, the effects have continued to carry over. The average sentiment is around -0.4 across all industries, meaning many are continuing to struggle with adjusting.
As technology has become a core business component, modernization has become less optional. Global IT spending is forecasted at $4.4 trillion and has seen a steady increase after having minimal growth from 2012 through 2020. The uncertainty surrounding the pandemic contributes to that, causing more people to be proactive. That has led to innovation as businesses embrace the latest IT trends.
Table of Contents
1. Internet of Things (IoT)
The Internet of Things describes the technology connection between people and the physical objects around them. That can be impactful for a wide range of industries. One such example is agriculture. Farmers can use IoT to remotely track their crops, livestock, soil quality, storage facilities, and other needs. That can include weather forecasts, predictive analytics, threshold alerts, and autonomous tools.
Globally, IoT spending is projected to reach 1.1 trillion by 2023. That is up substantially from the 749 billion USD in spending that was reported in 2020. As an evolving market, businesses continue to find new ways to use technology to interact with their workflow. It is essential for innovating business structures. It can also help keep them sustainable through increased productivity and reduced wastage.
2. Computing Technologies
Cloud computing has quickly grown in demand amongst businesses, with projected global revenue of $474 billion in 2022. It leverages the internet to offer flexible and scalable IT services while avoiding many upfront costs from hardware, software, power, and cooling. Using it also requires little to no on-hand IT staff, making it practical to outsource IT to a managed service provider.
For companies with greater demands, edge computing is designed to take it further. It brings the computing device to the network’s edge and can be integrated with physical IoT elements. While that can be more expensive upfront, it has other benefits. That includes reducing latency, lowering long-term costs, and providing better-localized data security.
While pros and cons exist, a hybrid computing approach has been an increasing IT trend for some organizations. It combines the best of both methods to counteract most of the weaknesses. Looking farther ahead, quantum computing can do tasks that historically took years in a matter of minutes. With companies like Google planning to have a mainstream quantum computer by 2029, it’s expected to have a significant impact.
3. Remote Work
The global impact of COVID-19 has made for a forced shift towards remote work integration. While some businesses viewed it as temporary, 66% of U.S. employees now work remotely at least part-time. By 2025, there’s a projected 417% increase of remote workers compared to pre-pandemic levels. Workers are also more likely to pick an employer that allows it, making it beneficial for recruiting and maintaining staff.
Some industries do need in-person staffing, making that transition less clear. Organizations also invested in long-term office leases, making it difficult to cut the losses on wasted space. Although many workers appreciate a remote work option, some prefer an office setting too. The hybrid approach has been an appealing middle ground, allowing people to work on some tasks at home while commuting to the office as needed. Remote work will likely continue to grow as it benefits companies and employees.
4. Blockchain Technology
The usage of blockchain technology has been popularized through cryptocurrency leading up to 2022. As a tool for transactions and an alternate way to store money through digital wallets, it’s secure. Yet, it has no financial backing or regulations. That makes it volatile, and something financial experts often recommend avoiding. While cryptocurrency has flaws, there are other ways to apply blockchain technology.
One example is the healthcare industry, where no centralized medical record exists. Patients must give the same information to each provider. When one data set changes, it doesn’t update any others. A blockchain-based system would allow doctors to access identical and up-to-date records using the patient’s unique encryption key. While there are risks, challenges, and concerns, this technology is a step forward. The goal is to provide a solution that combines data security with privacy, accuracy, efficiency, and ease of use.
5. Voice Assistants
The usage of voice assistants has been trending due to its quality-of-life improvement. It can serve basic purposes like checking the weather, using a search engine, setting an alarm, and making hands-free phone calls. They’re also integrated into entertainment, where you can ask for a device to play a favorite song or to search for a specific TV show. That has created new dynamics for marketing as people’s interactions with media is changing.
It also has other productivity-related uses, like dictation software, which can be used to save time. Most people can speak faster than they can type, making it a practical to-go tool on a smartphone. Voice assistants can also be synced with workplace systems, allowing someone to get a quick update on a client file or check a statistic. With advances in AI, the role of virtual assistants may continue to increase.
Chatbots have become the frontline of customer service for many businesses. Only 19% of companies use them already, but another 62% plan to add chatbots to their websites or social media. While not a complete replacement for a live agent, they have 24/7 availability and can answer simple questions. They’re also able to respond instantly, meaning customers don’t have to wait to receive support.
On the business side, chatbots can also reduce the burden on staff by acting as a screening tool. Anything the bot can’t answer will prompt the customer to contact someone for further support. They can also be used in other ways, such as upselling products, offering discounts, recommendations, and lead generation. As more people engage with chatbots, businesses will continue to be creative with their integration.
7. 5G Technology
With telecom companies pushing 5G coverage in 2022, much of the infrastructure is in place, but the adoption rate is lagging. The primary delay isn’t the availability but the lack of 5G compatible devices bought. Since these are not bought yearly for most people or companies, the transition will happen over the next few years.
5G can separate mobile traffic into lanes, offering stable and faster data connections. It allows for high-density networks, such as wirelessly connecting dozens of machines and integrating automation. By linking with IoT infrastructure, workers can interact more with machinery over long distances. By 2035, 5G is expected to generate $13.2 trillion in sales enablement. Organizations will continue to research new ways to use their strengths.
8. Artificial Intelligence (AI)
The usage of AI has steadily trended in recent years. However, analysts suggest what we see now is only a small piece of the impact it’ll have on the global economy. In 2021 AI had a market value of around $93.5 billion. By 2030, the global AI market is projected to reach $1.8 trillion. Many major technology companies are investing in the research and development of new AI tech. As it becomes more accessible and flexible, it’ll allow for many workplace innovations.
Cybersecurity is one area that greatly benefits from these advances. It can be hard to track and hunt active threats manually. Some data security companies can only solve problems and fill holes after an incident. AI can be trained to learn patterns, detect threats, and proactively find issues before they’re exploited. That can also be applied on a much larger scale, which is beneficial for complex IT infrastructure that can be difficult to monitor. Hackers can also use AI, meaning businesses need to prepare for new types of digital attacks too.
9. Data Analytics
The importance of data analytics is nothing new to larger businesses. What has been changing is how it works, the accuracy of projections, and its usability. What used to require a team of analysts to interpret can now be handled by fewer people. That is aided by new software tools, allowing more transparent and informative interfaces. AI also impacts analytics, as it can take care of surface-level interpretations and turn bulk data into usable forms.
With the availability of analytics tools to companies of any size and across most industries, it’s become a competitive standard in 2022. Something as simple as tracking traffic flow and consumer trends can go a long way. In a store setting, that can be used to adjust the stock of popular or trending products, increasing profits. Businesses can also more accurately predict staffing needs, which can avoid overstaffing and can be used to adjust hours dynamically.
10. Tech Regulations
Tech regulations have been on the radar of many companies in recent years. Rules are often designed with consumer protection and a fair marketplace in mind. However, many laws and guidelines aim at only classic business and marketing approaches. Furthermore, emerging technologies are developed much faster than regulations are written. That means the traditional system is no longer working in a modern economy.
One part of the solution is IT compliance, where requirements can apply to specific industries and types of technology. Payment processing is a common example. How different countries handle regulations can also give insight into future trends. The GDPR implemented by the EU pushes privacy and stricter cross-border data transmissions. By anticipating future regulations, businesses can make changes ahead of time.
Technology is more approachable than ever, giving businesses new tools to stay competitive. IoT, 5G, and computing tech can innovate workflows. Blockchain gives a glance at a future of better cybersecurity and centralized data systems. Voice assistants can support employees by responding to basic requests, while chatbots can further reduce that burden and improve the customer experience.
Artificial intelligence is being used to augment workers, handle routine tasks, and analyze trends. Meanwhile, data analytics has become more approachable through AI and user-friendly interfaces. New technology can also better use remote workers. That creates more recruitment opportunities as people are less confined.
With so many different IT trends to keep track of, it can be challenging for businesses to take advantage of each one. Shifting tech regulations also requires careful planning and compliance. By using a trusted IT partner, navigating those changes doesn’t have to be complicated. Whether overhauling IT infrastructure or outsourcing IT services, ITonDemand is here to support the future of business.
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