In the past, we've described the tech industry as creative, innovative, and ever-expanding. And 2021 was no different. With the global pandemic, more people relied on technology for practically everything. People stayed home and worked remotely (when they could). So ensuring their devices are well-optimized to increase efficiency is crucial. So as we close out the year, let’s take a look at the biggest tech trends of 2021:
1. Faster connectivity
We’ve already seen how this trend’s gotten popular over the past two years. Even for non-tech people. The promise of 5G from large phone companies is definitive proof of this. More than that, tech companies are combining 5G broadband cellular networks and the Internet of Things (IoT). And that combo allows them to speed things at an exponential rate. When combining 5G and IoT, it also enables faster download and latency (time it takes to retrieve data) times. And that includes loading times across larger distances. And with everyone working remotely, it’s crucial. Faster connectivity increases an organization’s overall efficiency, which leads to increases in monetary gain. Not only for businesses but also for the overall GDP.
2. Cloud-based platforms
Cloud computing’s already been a big thing in the last few years. But it contributed to transforming the digital space as we know it in 2021. We use it so much now, it's practically common practice. Cloud computing not only increases cyber security but also contributes to revenue. In fact, a Deloitte report claims the cloud service revenue will reach $354.6 billion by 2022.
Now that everyone’s work and home lives are melding, there are a lot of concerns over cyber security. Especially in conjunction with heavily target ads and listening devices like Amazon's Alexa. After a while, it makes people feel constantly watched and listened to. Now, if someone gets hacked, their personal data isn't the only thing at stake. There's also a high possibility that sensitive business data is intertwined in there somewhere. It’s no wonder why VPNs and other cyber security measures are so popular now. Even PSPINC’s developing its own password management software, Pass Wizard, which is currently in its beta stage and free for users to try.
4. AI Evolution
The truth is, AI’s actually been around for longer than most of us realize. However, it only recently became popular because cloud computing made it possible for machines to take in an immense amount of data. Using AI, we’re now able to easily detect patterns, interpret, and interact with all kinds of data, including text, images, videos, and even audio. With it, businesses are able to improve customer satisfaction, increase productivity, and lower expenses.
5. Business model transformation
In terms of tech services like software, customers used to just buy it. Then, when it came time to update it, they’d just buy the next version of it. Now, tech companies (PSPINC included) utilize a subscription model where developers continue to develop, maintain, and update their programs. And this subscription model isn’t just true for the tech industry, we’re seeing it everywhere. Streaming platforms (Spotify, Netflix), eCommerce (Amazon Prime), curated boxes (Birchbox), meal-kit providers (HelloFresh), the list goes on. While both the traditional purchase and subscription models include multiple purchases over time, subscriptions streamline the entire process. For the tech sector, it guarantees a high-quality product through constant updates. But for everyone else, it ensures the customer stays with the same company instead of buying a similar product elsewhere.