To quote Steve Jobs again, “Innovation is the ability to see change as an opportunity – not a threat.”
Let’s consider this in the context of a hypothetical situation. Let’s say, a government says it wants to streamline tax using digital systems. Businesses scramble to understand what it means for their legacy operations and the new technology they need to implement. While specialists consult on scope and delivery, few professionals understand both the technology and the tax. While everyone appreciates the need to make the project stick, the reality is, employees are learning as they go.
Here are some key considerations for c-suite leaders in this situation. First, if a business is trying to do something differently – to innovate – it is trying to change what it is currently doing. The best way to do that is to raise awareness. At the outset, an innovation strategy helps to provide structure and a safe environment for creativity and the evaluation of ideas. It also creates a culture in which people are willing to, and able to, innovate.
In this case, leaders could run design thinking sessions on tax and technology to challenge assumptions, redefine problems, and identify potential solutions. By involving everyone, it could serve as a forum to help share knowledge and identify employees with key skills. It is often those at the edge of a business, who work with technology every day, who bring fresh ideas and perspectives. Remember, the highest-paid opinions don’t always matter the most.
Once the design thinking sessions have taken place, then project teams can be established. Each one should have employees from different areas of the business. They will need strong leadership and a vision of success. The project should also be explained in simple terms: why it matters, the benefits, and how it can be delivered.
In 2024, developing an innovative approach to major projects can only be done successfully by keeping people at the forefront. This will be powerful in helping businesses to keep up with tech trends and optimise them.
The 2024 tech trends aren’t surprising, but they are important.
While it’s crucial for businesses to understand how to keep up with tech trends now, it’s equally crucial for them to understand how to keep up with tech trends in the future.
Richard says staying “ahead of the curve” is essential. “Of course, applications like AI are a hot topic at the moment. Businesses must acknowledge this but, they’ve also got to keep their finger on the pulse of the systems that aren’t getting as much hype. Take neuromorphic computing as an example – this is a branch of computing that seeks to emulate the neural structure and function of the human brain. It’s remarkable and likely to be relevant to how organisations do business in the future,” he says.
“Sovereign cloud is another development on my radar. This cloud-based environment is operated and controlled by a specific government or public sector organisation within its own jurisdictional boundaries. This type of infrastructure could have major implications for businesses in the way of data privacy, security, and compliance. So, it’s worth keeping an eye on.”
While current trends may demand immediate action, emerging trends should inspire careful introspection about the impact they could have on business operations in the future. To navigate the dynamic tech landscape, leaders must actively stay abreast of developments to anticipate change, make informed decisions, and drive innovation.
Being a business thought leader will pay dividends when it comes to adopting the technologies of the future. Proactivity and preparation will pave the way for success, ensuring that you don’t just work with the technologies, you make them work for you. If you’re wondering how to keep up with tech trends, focus on building a robust tech workforce for the future. Ensure that you are recruiting the right talent with the right tech skills to level up your business. And, don’t overlook your existing employees – make retaining them your priority and look to upskill them wherever necessary.
As technology evolves, and the digital backbone of businesses strengthens, knowing how to keep up with tech trends will be the difference between success and failure. Prioritising innovation, cyber-security, and data (over AI) will help businesses now and in the future. However, c-suite leaders who grasp current opportunities while exploring the emerging ones, are sure to be the front runners in the ever-evolving tech race.
