Top 5 SMB Tech Trends To Rule In 2018

tech trend

SMBs are one of the most dynamic segments and are becoming much more aware of how integral technology is to business success in recent years. The year 2017 has been a spectacular one in the technology arena for the small and mid-sized companies and it will surely pick-up further this year. Here are five tech trends SMBs can look for in 2018.

Data will continue to be the King- The rise in the data will still be the king next year. As a major asset to organizations, the challenges around storage, managing and security of data will be a key concern for SMBs. Data will be the base for many upcoming and existing technologies. The enormous data will bring machine learning, analytics and AI to the mainstream.

Advancement of AI- Artificial intelligence will present an amazing opportunity not only for enterprises but for other sectors such as finance, healthcare, education and banking. The rise in data has fuelled more algorithmic and real-time approaches to addressing various issues. The advancement in AI can prove to be great when it comes to Big Data, analysis, and routine tasks.  The ability of machine learning to analyze the big data will help reduce the chances of error and will able to build predictions based on previous data. AI will enhance customer experience and the rise of chatbots will help serve better customer service which can effectively result in reduced costs, higher security and improved performance.

The way for Blockchain- It is a digital ledger in which transactions made in a cryptocurrency are recorded chronologically and publicly. The last quarter of 2017 saw a huge growth and demand for blockchain based technologies preferably in the cryptocurrency. It is set to become one of the integral parts of most of the firms to help business operations become more effective and secure. With the advent of cryptocurrency, the financial sector will lead the way in the use of blockchain technology. The Indian market is still largely untouched with blockchain and a lot needs to be done to ensure the usage of this technology to attain its full potential.

The Cloud way- The recent report by Forrester predicts that the total global public cloud market will be $178B in 2018, up from $146B in 2017, and will continue to grow at a 22% compound annual growth rate (CAGR). This presents a huge opportunity for enterprises that are looking forward to move their businesses to the cloud. More and more organizations will take advantage of the simplicity and high-performance the cloud guarantees. We could see an aggressive move from organizations toward integrating SaaS, IaaS, and/or PaaS into their business processes.

The various cloud models, SaaS, IaaS and PaaS have already opened a flexible opportunity for customers to opt the cloud space. The growing dominance of cloud application and development platforms will call for more and more cloud storage platforms to get benefited with this adoption. The adoption of Cloud services will continue to rise due to the improved usage of cloud-based services including mobility, increased efficiency, cost-effectiveness, streamlined collaboration, and speed of connectivity.

Cyber Security will be the key- 2017 can be named as one of the worst years in terms of cybersecurity, where ransomware attacks and hacks munched out Billions of dollars from organizations. Also, we can expect more of the same kind individual and state-sponsored attacks in 2018. The attackers have become very sophisticated and organizations will need the latest and updated security solutions to thwart these attacks.

SMBs need to be more careful with the targeted attacks. A full proof managed security solution will be the most crucial aspect for the businesses. A renewed focus on cybersecurity will mean an increase in the use of external providers and solutions by many enterprises and hence will create a huge opportunity for security solution providers.