In today's fast-changing tech landscape, disruption is the only constant. Your business must be ready for both the current challenges and the future. Ray Steen, Chief Security Officer at Mainspring, shares the top IT trends and challenges your company should be prepared for.
Your organization can be more resilient in times of change by having a strategic understanding of IT trends and how they relate to business outcomes. You can also leverage new technologies to your advantage and stay ahead of the trends.
Let's take a look at the biggest challenges facing businesses at the beginning of 2023, and seven trends that will affect IT strategy in every industry.
IT Professionals Face Challenges
Many global developments have had a significant impact on businesses since 2020. 2023 will be the culmination of these global developments. They have a direct impact on how businesses spend IT now and in the future. Additionally, they will push businesses to find new revenue models and ways to work.
1. Global instability
With the COVID pandemic, the supply chain crisis has been compounded by further disruptions due to the Russian invasion in Ukraine and other international political conflicts. Global businesses will be adversely affected by uncertainty regarding global export availability and reliability of shipping in the near future.
2. Economic Turmoil
Experts predict the global economy will be in recession or turmoil as a result of global instability. Companies will likely reduce their investment and hire more people. There will be an effort to "make due" by improving efficiency, labor-saving automation, and cost reductions to offset any potential losses.
As they have been for years, cyberattacks are becoming more frequent and costly. This trend will continue in 2023. Organizations will need to consider cybersecurity when developing business strategies, solutions and partnerships with third parties.
4. Talent Gap
For a long time, IT talent has been difficult to find and affordable. It is also hard to retain IT talent, thanks to trends such as "The Great Resignation". Cybersecurity talent is essential for organizations. Employees who are able to translate IT concerns into business outcomes are crucial.
5. Remote Employment
Hybrid work models are being used by companies. 25% of all American professional jobs will be done remotely by 2022. This has led to a wider network that extends beyond organizational networks, which can create new vulnerabilities and opportunities for collaboration.
Top 7 IT Trends for 2023
These are the trends you should be paying attention to and what to plan for.
The past decade has seen significant advances in AI, machine learning (ML), and neural networks. Experts predict that the market will be worth $422 million in 2028.
AI-ready companies will be able to use applications in 2023 that allow for faster decision-making on the fly based on large volumes of data, superior customer experience, greater flexibility in cloud deployments, and many other factors. AI readiness will ultimately be a competitive advantage and a significant differentiator.
2. High-Bandwidth Wireless Standards
Gartner predicts that 60% of enterprises will use five or more wireless technologies by 2025. This includes 5G. It is not only a faster way for you to connect to the Internet via your mobile device, but it also provides a reliable channel to deliver content, collaborate with remote employees and operate remote equipment.
Particularly when it comes down to Internet of Things devices (IoT), 5G's value is evident. Today, there are billions upon billions of IoT devices. This number is expected to increase in 2023. Organizations will rely on IoT for crucial data collection. 5G offers higher bandwidth and lower latency, which allows it to support more devices.
3. Cybersecurity Culture
Despite the dangers of today's cyber environment, only half of the small businesses have a cybersecurity plan. More businesses will understand the importance of cybersecurity in protecting their revenue over the long- and short term.
Cyber training will be a core part of many companies' culture due to the importance that social engineering plays in cyberattacks. Multi-factor authentication will be more popular as tech giants adopt Fast Identity Online Alliance's FIDO2 and Webathons standards.
4. Cloud Migration
Gartner predicts that global cloud spending will increase by more than 20% to nearly $500 billion by 2022. We expect more companies to move their IT infrastructure, data, and applications to the cloud in 2023. This is due to its faster deployment, lower cost, and better security than alternatives.
There are several good reasons to use "managed hosting" in today's world. While this model of IT delivery was valid in the 90s and 2000s, it has become obsolete with the advent of cloud computing. Cloud computing offers all the advantages of managed hosting, but with very few drawbacks such as high monthly fees, hidden fees, and limited flexibility.
5. Compliance with Federal Cybersecurity Regulations
The federal government doesn't want to leave anything to chance when it comes to cyber threats to national security. Although government contractors are required to comply with cybersecurity standards such as NIST 800-171 for a while, the Cybersecurity Mature Model Certification (CMMC), will require greater accountability from private sector companies doing business with federal government.
DoD plans to have CMMC implemented in contracts by 2023. Currently, government agencies are working towards zero-trust architecture (ZTA). Both of these initiatives are expected to have an effect on the private sector. Gartner predicts 60% of businesses will use zero-trust security principles by 2023.
6. Outsourced IT Talent
IT professionals are required to meet the rising IT challenges. It is becoming increasingly difficult to find IT talent. 75% of IT leaders state that it will be difficult to fill tech jobs in 2022. It is becoming increasingly difficult to find the right talent for key roles in IT, as a result of increasing wage and salary inflation.
Organizations will eventually need to outsource professionals to augment their IT departments. Many organizations will look to managed service providers (MSPs), and virtual chief information officers(vCIOs), for both their technical and business expertise.
7. Performance Optimization
Businesses will face economic challenges in 2023. Organizations will look for ways to cut costs and improve performance. To ensure that the solutions they use are producing the expected business value, they will continue to monitor KPIs and other metrics. If they don't, they will refine their positions and use the metrics to improve them.
A Strategic Advisor can Help You
Strategically leveraging technology trends in 2023 will make IT work for your business. This will help you drive revenue and reach your long-term goals. You may not have the skills or the experience to capitalize on the new trends and risks that face you in 2023. A trusted MSP can help you. You need a partner who is proactive and will work tirelessly to meet your business goals.