As we step into 2024, business owners and leaders across the UK are presented with a myriad of technological advancements that can significantly impact their operations, growth, and overall success. In this blog, we’ll explore five key technology trends that can support your growth, enhance your efficiency, and foster a thriving organisational culture.
1. Cybersecurity – from priority to necessity in 2024
In recent stats published by the ICO, 37% of all data breaches had cyber security causes. The actual rate of cyber breaches had risen 157% in just one year. Especially watch out if you’re in finance, insurance or credit, as these sectors reported the most incidents, however no-one is immune.
As cyber threats become more sophisticated, robust cybersecurity is non-negotiable. There are many cyber solutions out there but if you have Microsoft 365 Business Premium, you already have access to Microsoft 365 Defender. Not only can Defender replace your standard antivirus or ‘endpoint protection’ on your laptops and PCs, it adds much more security to your computers and data. You’ll need some of this security to get Cyber Essentials certified. In a world where scams, fraud and cyber-attacks are common, Microsoft 365 Defender can detect, block and neutralise many kinds of attack.
2. Using tech for employee well-being
Trending risks for mental health include change fatigue, burnout and digital overload.
Harnessing technology can significantly contribute to employee well-being by offering innovative solutions such as wellness apps, virtual mental health support platforms, and flexible remote work arrangements, fostering a healthier work-life balance and promoting overall mental and physical wellness within the workplace.
Microsoft Viva Insights is a great example of this. Through features such as analytics on collaboration patterns and focused break suggestions, Viva Insights helps individuals and teams optimise their work habits, reduce burnout, and improve overall job satisfaction. Additionally, it offers resources for skill development and connects employees with the tools and information needed to thrive in their roles, contributing to a more engaged and resilient workforce.
Did you know that if you have Microsoft 365, you already have access to this intuitive tool? Some features, such as the Viva Pulse employee survey app, cost extra.
3. Leveraging AI for competitive advantage
If 2023 was the year that we really sat up and took notice of AI with the introduction of ChatGPT, 2024 will certainly be the year where businesses don’t just adopt these new technologies, but leverage them for tangible business benefits. These tools can drive efficiencies across all sectors and all roles; from analysing invoices and matching them with purchase orders, to using historic sales data to predict future growth, to speeding up customer support by implementing AI powered chatbots on websites. The benefits are vast.
Microsoft’s very own AI powered tool Copilot which has already launched for enterprise businesses, is set to be the next big thing for professionals across the globe. Integrated with your full Microsoft suite, including Teams, Word, Outlook, PowerPoint, Excel and much more, it’s branded as your AI assistant at work. Read more about Copilot in our latest blog.
4. Green tech – driving sustainability in 2024
Embracing green tech is not just a trend; it’s a movement towards sustainability. In 2024, top tech companies like Apple and Google are setting commendable goals for carbon neutrality. As green tech investments soar, technology becomes a key player in promoting sustainability, with AI-powered smart grids and blockchain-enabled supply chains leading the way.
One of the first things you can do to start your business’s road to sustainability is carry out a tech audit, enabling you to track the emissions of your current tech and monitor your carbon footprint.
You can also consider known more sustainable technologies, such as heat pumps, cloud computing, solar panels and electric vehicles.
Maintaining a balance between technological progress and environmentally conscious practices is essential. By aligning your values with environmental concerns, not only do you contribute to a greener world but it can also improve the trust and loyalty of your customers.
5. The Virtual Reality revolution
Embracing Virtual Realty (VR) technology can be a game-changer for businesses in 2024. This innovative tool transforms remote collaboration, allowing teams to connect seamlessly in virtual environments, enhancing communication and productivity.
VR also proves invaluable for training programmes, providing immersive simulations that improve employee skill development and reduce training costs. In fact businesses are already utilising VR for customer engagement by offering immersive product experiences, virtual tours, and interactive demonstrations, creating a competitive edge and capturing the attention of tech-savvy consumers. As the cost of VR technology decreases, its integration becomes increasingly feasible for organisations of all sizes, unlocking a new realm of possibilities for business growth and client interaction.
Conclusion
Perhaps the biggest trend – the trend of trends – is that the pace of change is still accelerating. That means having an agile business with efficient decision-making, ready to take advantage. Seizing these opportunities will not only future-proof your business but position it at the forefront of innovation in the years to come.
In our corner of the world, check out events by Exeter Chamber, the South West Business Council, and our own Nexus Presents series, to stay current.
If you’d like to speak to our team about any of these tech trends or any technology that you might be considering for your business, give our team of experts a call on 01392 205 095 or email us at hello@nexusos.co.uk today.
