How Future Technology May Impact Canadian Businesses

It is becoming increasingly evident that the world is entering the fourth industrial revolution powered by technology. The rapid technological advancements will reshape the organization of businesses and how they work in the next few decades.

I discussed the 2022 technology trends Canadian businesses should monitor in a previous blog, and this month I’m going one step further and examining how increasing technological improvements and adoption will forever transform different business aspects.

Hybrid Work Model Is Here to Stay

With new COVID-19 variants cropping up everywhere and employees still reluctant to return to the workplace, it does not look like hybrid and remote work is going away anytime soon. Many successful companies have taken this in stride and use the hybrid work model to restructure how, where, and what work will look moving forward.

As businesses embrace the future hybrid workforce, they will increasingly rely on collaborative and content sharing platforms, cloud technology, and other tools designed with remote work in mind to create a sense of community, a shared culture, and seamless processes to support employees working from home.

Artificial Intelligence (AI) Will Play a Major Role in Cybersecurity

As we all know, AI is crucial to helping organizations automate more processes, market more effectively, and reduce costs. Whether creating content or powering chatbots that answer customers’ queries, we can’t deny the importance of AI for modern Canadian businesses.

Another important field in which AI is showing tremendous potential is cybersecurity. With organizations of all sizes becoming more vulnerable to cyber attacks, this idea has been getting more traction in recent years.

Though AI can be a very effective cybersecurity tool, there are also several challenges in leveraging AI-based systems for cybersecurity. AI systems require tremendous resources as they need to be trained with a new database of malicious and non-malicious data.

An AI can also increase the resistance of a system having ongoing attacks, which could cause the attacks to increase. Additionally, a breach in security can go undetected for an extended period because of the lack of human involvement.

AI has a long way to go before it is a viable security solution on its own. In the meantime, both small and large organizations need to take the necessary steps to prevent cyber attacks.

The Future Is Meta

I’ve already spoken about the vital role metaverse may play in my previous blogs in the upcoming years.

This “extended reality” where users connect and their surroundings through the internet and AR and VR headsets can reshape how organizations work. Though the technology for metaverse is still in its infancy, it will be wise for businesses to start preparing for a radical transformation.

Several big brands like Nike and Adidas have already started experimenting with the metaverse concept and have begun working on virtual shoes.

The rapid evolution of the tech industry will have far-reaching effects on Canadian businesses in the years to come. It would be best to keep up with the latest trends and upgrades to stay informed.

Discover the pros/cons of future tech and its impact on Canadian businesses. Subscribe to my blog to keep up with the latest news in the tech industry. Send me your feedback through my website or one of my socials—I always look forward to hearing from you.

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