In a world where change seems like the only constant and technology is advancing at a faster pace than ever, businesses need to keep on top of the latest trends to remain competitive.
As a global technology company, Mindera helps businesses to effectively harness the power of existing and emerging technology to fuel their growth.
As leaders plan for the coming year, the technology investment options can be overwhelming. In this article, technology expert and managing director Richard Hilsley shares his insight on trends that should be prioritised.
The transformative tech trends businesses should be ready for
Whether your business is technology-minded or relies on companies like Mindera to steer you in the right direction, most people have one ear in the social world and have some idea of what kinds of tech trends are shaping the business landscape and driving business growth.
Looking not so far forward into 2024, Richard touches on a few technology trends that can help drive business growth over the next year:
AI (Artificial Intelligence)
“It may be an obvious one to say but AI is something that organisations need to be aware of and understand what it can do for them. There’s tremendous hype around AI at the moment and it’s important to be able to search through the noise and understand where AI can really make a difference.”
Although Mindera has seen increased demand for the use of AI, it warns people that this type of technology is still in the relatively early stages of development and meaningful use cases are still few and far between.
“Most AI technology is built on large language models, which can make them very generalist. While helpful in certain circumstances, these models can lack context and typically demand a level of supervision”
Cloud computing
Emerging from the shadows of traditional on-premises data centres, cloud computing was game-changing in democratising computer power and storage.
“Without a doubt it’s changed for the better how organisations use infrastructure, making it a lot faster and cheaper, in many cases, to deploy new services.
“We’ll see a continuing uptake and also expansion in the variety of cloud services, further commoditising infrastructure, in particular with serverless architectures which promise greater scalability and cost control which is an increasing priority given the current economic climate.”
Low code/no code platforms
Allowing non-technical people to build simple applications, these types of technology platforms are on the increase, according to Mindera.
“You don’t need to be a software engineer. Providing businesses can figure out where they are sensible to deploy, this type of technology can empower the business user to self-serve and solve certain problems by themselves.”
Future-proofing your business by preparing for key challenges
While there are plenty of fantastic opportunities within the latest tech trends to help businesses drive growth over the next year, there are also key challenges within the technology sector that companies should be aware of.
Touching on a few of the issues impacting business growth, Richard said: “Whether you work in the technology sector or not, one challenge that we are all facing lately is uncertainty. I think uncertainty is a bigger topic now than it has been for the last decade or two.
“The uncertainty of the current climate and the times we’re living in plays a big part in other tech issues we’re seeing, such as keeping costs down, supply issues and finding talent, as well as thinking about the sustainability of your company as the world becomes more aware of the environmental impact of things.
“This is where companies like Mindera can step in. There is still a big skills gap within tech and although many businesses have technology skills in-house, they use us to bring a lot more expertise and bandwidth.
"Keeping good tech talent when you have it is key, and being in a creative environment – like the one Mindera fosters – where you can learn and grow, has a huge role to play in that.”
This year, Mindera was the proud sponsor of the Leicestershire Live Business Awards 2023, in the Growth Award category. The event took place on Thursday, October 26 at Walkers Hall, King Power Stadium. Visit the website here to see all of this year's well-deserved winners.
To find out more about how Mindera can help your business grow through the use of technology, visit the website here.
