Here we are at the start of a new year. It’s a time when the year is essentially still a blank slate and full of potential for exciting new data and technology trends in 2018. It may even be the year that Tesla finally delivers its Model 3 electric car and Apple gets its Siri-powered HomePod speaker on the market (I can hope!) after both companies have faced serious manufacturing issues
As data and technology continuously change and evolve, there are some new data and technology trends to keep an eye out for this year. As someone with more than 25 years of experience in IT services, I want to share some of my knowledge and experience with you. It is my goal to help small- and medium-sized businesses successfully leverage their technology and enhance their organization's security.
Check out my list of the top 6 technology and business trends in 2018.
1. Changes to Connection Speeds
This year is potentially going to experience some important changes to internet and wireless technology. With the U.S. Federal Communications Commission’s (FCC) controversial vote to repeal net neutrality in December 2017, and the impending commercial rollout of Verizon’s 5G wireless technology in Sacramento, California later this year, we’re curious as to what other connection changes may come our way during the next 11 months.
2. Changes to Data Privacy Regulations
Cybersecurity is an important responsibility and area of focus for many businesses and governments around the world. If people worry that their personally identifiable information (PII) and sensitive financial information won’t be protected by companies, they’ll be less likely to interact with those brands.
So what is being done to ensure consumers’ data are protected? As I discussed in another recent blog post, the new EU General Data Protection Regulation (GDPR) that was approved by the European Parliament and Council in 2016 will become effective in May. So this means that U.S. companies that conduct business in any of the EU member states and handle any personal data will need to be aware of the new regulation and implement changes to ensure they’re in compliance.
3. Accessing and Using New, Quality Data
As technologies continue to evolve and data collection methods improve, new forms of data can be found just about anywhere. From voice and facial recognition software to wearable technology, you can gain new insights and information about current and prospective clients that you previously could’ve only imagined (or hadn’t even thought of collecting). The sheer amount of available data that is available today is incredible and presents new challenges. Probably one of the greatest decisions that result from these data trends is knowing which data to ignore and being able to focus on the datasets that are most important and relevant to your business.
4. Growth of Multifactor Authentication Methods
After an unfortunate, record-setting year of cyber attacks and data breaches, consumers are becoming increasingly concerned about the safety of their online account data and PII. Consumers are worried that businesses aren’t doing enough to protect their personal data and financial information.
I’m happy to share that multifactor identity verification methods, such as two factor authentication (2FA) (or what is also known as dual authentication), are slowly starting to become more widespread in use for a variety of services and industries.
5. More SMBs Will Fall Prey to Cyber Crimes
Why am I saying this, you may wonder? The results of a 2017 security survey show that leaders of enterprises and small to medium-size businesses (SMBs) may be overly confident of their “cyber threat preparedness, low vulnerability, and data protection.” According to the survey of 400 SMBs and enterprises, 87% have complete faith in their security technology and practices, and 59% believe they are less vulnerable than they were a year ago despite the increasing rise in data breaches.
I expect the menace of cybersecurity threats will continue to increase this year. Last year’s alarming increase in hacks and cyber crime were felt by businesses and governments around the world — I anticipate those risks will continue to grow in 2018.
6. Digital Subscriptions Will Become Increasingly Common
As consumers increasingly embrace digital media, I expect that digital media subscription services will continue their rapid growth. A recent Deloitte survey supports this idea, suggesting that “50 percent of adults in developed countries will have at least two online-only media subscriptions” by the end of 2018.
Talking about IT and helping companies achieve greater levels of protection are both things I’m very passionate about. Here at FPA, "We focus on your IT, so you can focus on your business!" Contact us today to learn more about how FPA can help you protect your business and enhance your security efforts.
What do you think of our list of top technology trends and business trends for 2018? What other trends do you think should have made the list? Share your thoughts in the comments box below or shoot me an email if you’d like to chat about this in more detail.