The 5 Biggest Tech Challenges Facing UK Businesses
Today’s world of business is uncertain. Rising energy costs, new ways of working, and an increasingly rapid pace of technological advancement bringing the likes of artificial intelligence and machine learning.
Businesses need to be aware of the challenges they’re set to face in the future, so they can adapt and meet them head on.
#1: Data Security
When it comes to data, security is absolutely key; in fact, it’s going to become increasingly important as we go forwards. According to statistics compiled by DataBasixUK, in 2020:- £16,100 is the average data breach cost for a UK SME
- 48%, nearly half, of all UK businesses have been hit by ransomware in the last 12 months, according to Sophos.
- 33% of UK companies said they lost customers after a data breach
- The average remediation cost after a successful ransomware attack on a UK enterprise is ~£640,000
#2: Company Agility and Response
The barrier to entry on many businesses is lower than ever. For many office-based businesses, staff are now distributed across the country and even internationally. While this is nothing new, the COVID-19 pandemic has shown companies that it’s possible to be more agile and responsive in the ways they work. We’re already seeing shifts, with more remote working, and even introductions of four-day work weeks. It’s factors like these that will dictate not only how companies thrive as staff seek higher standards from their workplace. It’s also reflective of consumer trends and demands for more agile company cultures and products.#3: Modern Technology
According to Spiceworks Ziff Davis, in 2020 one of the top three drivers of IT budget increases was the needs to change outdated infrastructure (56%). The increase of remote working has shown enterprises how dependent their business is on technology, with many realising that to keep up with modern shifts in work, they need to update their hardware. In fact, company budgets are projected to go primarily to hardware (31%), using technologies such as IoT and Intelligent Edge computers or SBCs to enhance productivity and develop new ways of working. If your business is still using older, outdated hardware, it might be time to upgrade. Browse ASUS’ latest products to find out how ASUS can modernise your way of working.#4: A Wave of Machine Learning
In 2020, CIO’s listed AI as their most wished for technology (72%), followed by IoT (46%), and there’s a reason why. AI is already revolutionising how companies operate, cutting costs, solving inefficiencies, and even improving customer service. Learn more about AI and Machine Learning in our article here. Businesses are continuing to find ways to implement machine learning and AI technologies in their business, and it’s making a marked difference:- PwC Global believes that AI will contribute ~£11.9 trillion to the global economy by 2030
- 52% of telephone companies already employ AI chatbots.
- In healthcare, 38% of providers use computers to help make diagnoses.
#5: More Complex Workflows
For many businesses, work was easier when everyone was in the office. One location, one location to secure, outfit with systems, and maintain. With more and more teams distributed across the country, maintaining security, system quality, and productivity to the same level is difficult. Teams of hundreds are spread across multiple locations, accessing data, working in tandem, presenting incredible challenges for IT personnel.- Is company hardware set up to support multiple logins on the same work project?
- Is data security maintained when employees are out of the office with laptop devices?
- Is it even possible to monitor every system connecting to the network?
