The COVID-19 outbreak had several immediate effects, including radically transforming the notion of the everyday workplace. As the pandemic persisted, it became apparent that artificial intelligence, digitization, and machine learning are aspects of technology that have taken root in businesses. The following will discuss tech trends for business that will become more prominent in 2022.

Analytics for Hiring & Retention

By leveraging behavioral science and big data, employee performance can be evaluated. Employers track customer visits, cycle time, response rate, and safety behaviors and mine the information to gauge the effectiveness of their employees. Analytics now help companies make decisions regarding hiring and retention.

Artificial Intelligence (AI) Services

AI as a Service (AIaaS) is rapidly gaining traction and an increasing number of companies are implementing the cloud-based solutions of providers through subscriptions. Although some believe AI can only provide advantages to large international companies, even smaller organizations are now using AI and machine learning for commonplace uses. As basic examples, routine marketing tasks are being automated, and insurance companies are utilizing AI to help detect and prevent fraud.

Blockchain Adoption

The fall of 2021 saw the New York Stock Exchange list the very first cryptocurrency exchange-traded fund. It was considered a validation of Bitcoin, Ethereum, and other cryptocurrencies because they made them available to the general public. However, it will be the underlying technology of blockchain that will gain even wider use. An immutable and distributed ledger that requires consensus from multiple parties before allowing the addition and revision of records, blockchain will eventually be adopted by many industries.  

Cybersecurity Critical

Numerous organizations have been victims of costly cyberattacks in 2021. On average, a data breach will cost a company $3.9 million in damages. It will typically also take about 9 months to contain a typical successful cyberattack. In 2020, malware attacks more than tripled from the previous year, and more than 9 in 10 were delivered by email.

Company leaders must now keep themselves current regarding cyberattacks and find ways to prevent and mitigate them based on a business continuity plan. Studies have found that 75% of companies with a disaster recovery solution recovered from a cyberattack in less than 24 hours.

Part 2 will discuss Digital Enterprises, Dynamic Pricing Algorithms, Hyper Automation, and Metaverse On the Move.

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