Significant changes to how workplaces operate, as well as a rapidly increasing rate of digital transformation across all business functions, has resulted in a critical need for agile and resilient business technology suites. Innovations and advancements in technology have evolved rapidly to support the increase in demand, enabling companies to revolutionise their systems and processes through the use of these cutting-edge business tech trends. Here are six trends that business leaders should invest in to drive stable and resilient business growth in 2022.
1. Migrating to the cloud
More and more, companies are realising the value of the cloud for increasing cybersecurity, cost-efficiency and accessibility of business systems, particularly in workplaces where hybrid working is common practice and employees must be enabled to work from anywhere. Demand for cloud-native platforms – those that have been built for the cloud as opposed to adapted from an on-premises system – is expected to increase in 2022 as these platforms are more scalable, agile and resilient, making the most of what the cloud can offer and requiring less maintenance. In fact, it’s predicted that cloud-native platforms will be the foundation for more than 95% of new digital initiatives by 2025, compared to less than 40% of initiatives in 2021.
2. Greater Adoption of AI
Artificial intelligence continues to be a popular business tech trend, with new and emerging innovations continuing to expand the number of applications and use cases for this tool. Not only can AI technology strengthen business efficiency and drive innovation, but it can also contribute to improved user and customer experiences. For example, by using AI to optimise your document processes, you can boost productivity, efficiency, accuracy and security, which all drive customer satisfaction within your company.
In 2022, Gartner predicts that we will see increased adoption in a number of artificial intelligence categories, including hyperautomation, AI engineering, autonomic systems and generative AI. Healthcare, manufacturing, education, retail and transport industries are also likely to rapidly increase investment in AI technologies.
3. Distributed enterprises
Distributed enterprises take a digital-centric and remote-friendly approach to business. This helps businesses build out and enhance virtual consumer services and products, digital consumer touchpoints, and the remote employee experience. In this way, they can better support the needs and concerns of remote employees and consumers.
Given the rise in hybrid workplaces, which are on average 30% more productive than traditional office environments, the need for a strategic distributed business model is essential. And with new developments in cybersecurity, connectivity and the Internet of Things, technologies that enable distributed enterprises to function are becoming more and more cost-efficient and scalable, proving their value in contributing to organisational performance.
4. Total Experience
Total experience combines customer experience (CX), employee experience (EX), user experience (UX), and multi experience (MX) into a holistic business strategy that aims to provide a positive experience for all users. One of the benefits of this is that it takes into account the fact that different stakeholder experiences don’t occur in silos – in fact, they often depend on and influence one another. With an integrated approach, businesses can create a unified, coherent experience for all users, driving greater satisfaction and loyalty through deeper insight gathering.
With the increasing importance of customer and employee experience in supporting long-term, secure business growth, it’s no surprise that total experience is an anticipated business tech trend for 2022. A total experience strategy allows businesses to preemptively identify trends and patterns ahead of their industry competitors, as well as constantly improve their services for maximum results.
5. Privacy-enhancing computing
Information is critical to business growth, however, consumers are growing more and more concerned about how companies are using their personal data. Privacy-enhancing computation serves to protect personal and sensitive data in untrusted environments, using a variety of techniques to enable businesses to get value from their data while still protecting it from attack or misuse. With cybercrime on the rise, as well as increasing legal requirements on businesses, these technologies are critical to helping companies consistently meet regulations and protect consumers. And they also offer a competitive advantage by improving company reputation and consumer trust.
6. Leveraging business experience
Strategic use of business intelligence (BI) can inform better decision-making, drive collaboration and fuel innovation in organisations. BI software navigates and analyses datasets in order to present the information in reports, summaries, dashboards, graphs, charts and maps. This provides users with detailed insights about the business and potential areas for growth and improvement.
The benefits of leveraging business intelligence software are numerous, including:
- Improving collaboration
- Analysing strategic drivers
- Risk analysis
- Measuring, tracking and predicting performance
- Optimising processes
- Budgeting, financial planning and forecasting
- Customer relationship management
- Analysing trends, behaviours and patterns
- Improving supply-chain effectiveness
Companies that are quick to adopt these business tech trends in the coming year will see tangible results such as cost reductions, improved efficiency and productivity, enhanced consumer and employee experience, reduced downtime and other competitive advantages.