There's an old tech-term known as "Moore's Law" that states technology expands exponentially at the rate of 10 times every five years and 100 times every 10 years. But according to experts in the field, this rule has hit the ceiling. At the 2019 CES (Consumer Electronics Show), the CEO of Nvidia (a computer graphics design company), Jensen Huang was quoted as saying,
"Right now Moore's Law is growing a few percent every year. Every 10 years maybe only 2% ... So Moore's Law has finished."
Still, many of today's SMB's are scrambling to keep up with all the best in business tech trends that still keep flooding the market exponentially every year. They might not be growing in terms of the type of technology itself, but there's still a great deal going on in the technology sector. Here are the six hottest trends small-to-medium sized businesses need to be watching:
1. The Use of Video Surveillance
Back in the day, it seemed the only businesses using video surveillance were confined mostly to the financial sector, but with more advanced and less-expensive products on the market today, we're seeing them being used almost everywhere. According to recent statistics, nearly 95% of all businesses suffer from theft inside the workplace and approximately 75% of employees have stolen from their employer at least once. Often simply the appearance of video surveillance systems is enough to thwart these thieves and in the event of an actual loss, there will be recorded evidence of the event.
2. The Growth of 5G
The introduction of 5G (or the fifth generation of wireless technology) was rolled out by Verizon in April of 2019 and consumers are quickly climbing onboard this newer technological trend. This top-of-the-line tech is not only reserved for smartphones, but it will also enhance the way SMB's operate with faster network connectivity to more devices.
4. The Expansion of the Cloud
Tech giants like Amazon, Google and Microsoft are all battling to win dominance in the growing cloud platform in an industry that's expected to reach over $400 billion dollars in 2020. Taken at face value this might not seem important to today's SMB's but for those businesses who take advantage of these lofty services will grow almost 20% faster compared to their counterparts. Businesses looking for better growth and productivity in the future should be watching out for growing cloud opportunities.
5. The Rise of the Robots
Just as more science fiction is becoming today's reality, authors, filmmakers and other members of the media have been telling us for decades that robots will be taking over the world and they're not that far from the truth. Recent statistics share some surprising numbers when it comes to businesses implementing bots and AI (artificial intelligence) options when you consider:
- While only 15% of businesses are using AI currently, 31% plan on adding support for this tech in the next year
- The use of industrial robotics is expected to grow by 175% over the next ten years
- The medical industry is slated to have a 50% increase in the use of robotics in 2019
Even though bots may hold nearly 40% of jobs in the United States by 2030, 34% of the industrial robots purchased by 2025 will be designed to work safely alongside their human co-workers inside factories and plants.
6. The Need for Cyber Security
With nearly every transaction using some form of technology to accomplish today's tasks, businesses need to arm themselves against hackers who seem to be everywhere nowadays. But where do you start when putting in place better offensive and defensive methods to ensure you have the best in cyber security?
By signing up to attend our free security class, we show SMB's how to implement the very best methods to protect your business from these threats. The Buckeye BraniacPro is an elite technological team that will help set up your business network, optimize computer usage, prevent virus and malware from corrupting your software. What have you got to lose? Plenty!