In recent years, cloud technology and various cost-effective software have helped businesses streamline operations, convert to digital platforms and grow revenues.
Just as businesses felt they were settled and stable, more disruptive technologies are entering the fray. And there are three that could really shake things up from 2024 onwards.
1. Decision Intelligence
Artificial intelligence (AI) has matured fairly quickly in the last half-decade. No tech firms have figured out how to harness copious amounts of data, AI is capable of making a decision based on analysis data.
As decision intelligence software permeates the market in 2024, it will become more accessible to small businesses. Consequently, executives will be guided toward new opportunities in emerging markets.
Decision intelligence collects a wealth of analysis data and that helps you to better understand your audience. Audience insight not only informs you about what your customers want, but it can also shape the way you communicate with them.
2. Cybersecurity Mesh
Cybersecurity is a problem that will not go away. Not only that, but it is a problem that requires constant supervision, forward-thinking strategies, and consistent upgrades.
Cybersecurity companies can only react to data breaches when they appear. Fortunately for SMEs, new strategies deployed by threat actors target multi-million dollar corporations.
By the time the new hacking techniques are turning against SMEs, there is already a solution to prevent a data breach. Whilst there are several tools including anti-virus software, endpoints, patch management, and virtual desktops, etc, installing a cybersecurity mesh will help IT professionals manage your security defenses far easier.
In addition to the technology required to create a mesh, a cybersecurity strategy will require firms to keep up to date with the latest hacking techniques and ensure you have rolled out cybersecurity awareness training to your staff.
3. Privacy-Enhancing Computation
Since the inauguration of the EU’s General Data Protection Regulations in 2018, businesses have had to focus on installing appropriate methods for maintaining the privacy of their customers, employees, partners, investors, and supply chains.
The growing threat of cybercrime has made a lot of C-suite executives edgy. Meanwhile, developers have been creating technological solutions to help firms strengthen potentially vulnerable gateways onto their business networks.
Privacy-enhancing computation aims to add value by sharing sensitive data such as personal details and money transfers. The goal is to help make internet users more confident about making online payments or even registering with a company online.
The technology fosters an exchange of data without third parties having access to the data. This gives customers more control over how their data is used. For example, they can select to tell you their name and email a point of contact but hide their address, mobile number, and the city they live in.
Privacy-enhancing computation will also give researchers and analytical engineers more scope to study relevant data and reach conclusions without encroaching on data privacy laws.
For example, using the latest privacy technologies, researchers at the Boston Women’s Workforce Council were able to determine there was still a discrepancy in gender pay in Boston without accessing any personal data. They were simply left with data in the boxes that represent the salaries of female employees (F) and ($).