Andrei Kashanau, Co-Founder and CEO of Glorium Technologies. Health Tech, Real Estate Tech Expert Startup Advisor.
Choosing the right technology to grow your business is more difficult than ever. The list of technology trends and digital options has grown to cover all the surrounding industries, but you need a vision of how to apply the tools you have in your hand to expand your business.
Trends Every CTO Should Watch
Typically, the CTO is the one who drives business technology and empowers development teams to innovate and deliver results. Therefore, CTOs need to know the latest trends and be able to predict where the market winds are blowing to achieve the target growth of their business. As CEOs of companies specializing in software development, these are the top 10 trends CTOs should consider in their business.
1. Internet of Things
Now, businesses are finally starting to realize the core value of IoT, especially when it comes to providing information to the supply chain through a satisfying customer experience. Businesses are looking for tools to help integrate IoT into their corporate strategy. Combining 5G networks or the Industrial Internet with IoT, for example, opens up more opportunities for businesses to improve processes and efficiencies through a range of sensor-based tools. This type of technology provides a lot of data to improve machine learning which inevitably improves productivity.
2. Prioritize customer experience
Undoubtedly, the role of the CTO has evolved dramatically. It seems like just yesterday that CTOs have been working primarily on business plans to see if the next key feature has the potential to skyrocket their business. Today, their focus is primarily on user satisfaction and primarily on user experience. In the end, it is the user who determines the success of a startup.
3. Cross-departmental team collaboration
Simply put, collaboration is an enduring trend that will continue to exist. The best CTOs ensure that cross-functional teams work well together to achieve mutual goals. That is the strategy that leads to success in a rapidly changing business environment. All team members should be like-minded and work efficiently towards business goals.
4. Predictive Analytics
Another trend that can have a dramatic impact on your business is predictive analytics. Analyzing customer data and user journeys is now easier than ever to help optimize business systems and improve operational efficiencies. Predictive analytics allows businesses to make data-driven decisions instead of acting on the whim.
5. Information Security
In fact, this trend should be at the top of the list. Nevertheless, let’s talk about cybersecurity and why CTOs should invest in these technologies. As strange as it may seem, startups are very vulnerable to all kinds of online attacks and breaches. So, if you want to protect your business’s sensitive data, making sure it’s secure enough to handle your operations should be one of your top priorities. that much the highest.
6. Workflow Automation
Another trend, of course, is the automation of manual labor. This is one of the trends that will continue to grow in the coming years. CTOs should consider that the company needs to free up more time for its employees so that they can focus on issues that only humans can handle. In the near future, CTOs should think about investing in automation tools, and many are already doing so.
7. Virtual and Augmented Reality
The next trend to keep in mind is that the endless possibilities of VR and AR can enhance the customer experience and the way businesses engage with customers. For startups, you need to keep in mind how to stand out from the crowd. And if not implementing one of the best tech inventions of the last few years, what’s the best way? Irrespective of industry, VR and AR can benefit businesses and are something CTOs should keep in mind.
8. Artificial Intelligence
AI is one of the tools some people need to embrace and apply, while others are already applying it to achieve greater business productivity. The new era of technology most certainly includes AI, so CTOs should consider investing in the future of their business operations. New technologies obviously have risks. But now it’s clear that not investing in new technologies can be more risky. No company wants to be left behind by missing out on early adopter opportunities.
9. Cloud Computing Technology
Another emerging trend is the adoption of cloud computing. What is cloud computing and why should CTOs be aware of these trends? In short, according to Microsoft, cloud computing is “the provision of computing services, including servers, storage, databases, networking, software, analytics and intelligence, over the Internet (the ‘cloud’) to provide faster innovation, flexible resources and economies of scale” . Therefore, the reasons CTOs should consider investing in cloud computing are to facilitate the information sharing process and keep all sensitive data safe.
10. Be Agile
The last trend in the last few years has been agility. This means CTOs can work closely with smaller teams to get more feedback and focus on results. CTOs must be closely involved in the process to ensure that agile methodologies are properly implemented in their organizations.
Working in a fast-paced environment requires you to consider process optimization much more than you would not consider optimizing your processes and which tool or technology can deliver the best results. Global trends are always there, but CTOs need to be able to anticipate trends that are right for their business. It’s great to have so many different skills to choose from, and with the right choice, effects can be worth gold.