As we move into 2024, businesses operating within the IT industry have some tough questions to answer. Which area should I focus on this year to push for business growth? How can I ensure my business stays competitive?
2023 was a huge year for the IT industry, AI advancements trickled into workflow processes and product design, cloud and network-based service demand continued to rise, and digital transformation was at the forefront of most company goals.
We want to ensure this year is just as successful as the last. We’ve broken down some of the top predicted trends set to drastically impact the IT industry across 2024 so you can implement them in your business strategy.
Rise in Data & Cybersecurity
According to TwentyFour IT, 81% of all UK businesses that suffer from a cyber security attack are small to medium-sized businesses. Of those attacks, 97% could have been avoided if they had a modern comprehensive cyber security solution in place.
While there is a large demand for cyber security systems, the demand for well-defined governance processes is also growing rapidly. Shockingly, only 44% of companies currently have a governance process. This number is set to rise in 2024, as companies need to ensure they are following best practices and effectively securing their customer’s private information and data from potential cyber-attacks.
To get ahead of your competition in 2024, you not only need to put cybersecurity processes in place but also understand the role and benefits of Data Governance within cybersecurity. As Cybersecurity Magazine said, “Unless you know the value of your data, where it is located, and who has access to it, you can’t determine how best to allocate resources to protect it.”
Demand for Highly Skilled Talent
Across the entire tech sector, there is a shortage of talent with the digital skills necessary to fill roles. This is especially challenging for the IT industry as finding candidates with the right skills has become increasingly difficult.
The rate of expansion across the digital landscape has, in some cases, become a huge hindrance to the IT industry as due to the complexity of cyberattacks and lack of skilled IT professionals, companies have fallen victim to cybersecurity attacks. Alarmingly, 1 in 2 businesses have fallen victim to a successful cyberattack in the past 3 years. It has never been more important to have highly skilled professionals across your business to ensure company and customer data is safe and secure.
Cybersecurity service providers are facing a rapidly growing problem that requires an investment in upskilling or new hires. Hiring young entry-level talent through apprenticeships presents many benefits for IT providers, including higher retention rates, IT functional skills, and highly sought-after soft & interpersonal skills.
While most companies see Cloud systems as a necessity – more than a third see Cloud Computing as an accelerator, and many businesses are looking to improve processes by using Cloud Based Systems and Cloud Computing in 2024. In fact, 42% of businesses say that they are willing to consider working with new businesses and tech providers to help improve their digital endeavours.
This includes investing in cloud connectivity systems, which allow for enhanced productivity, reducing a product’s time to market and workflows, and Cloud Architecture which promotes best practices across Multi-Cloud Systems. These systems can include financial operations and resilient architecture, to allow for more customised applications.
Building a Cloud Foundation within a business can help streamline multiple digital activities, including implementing data management and improving web & mobile presence.
Source – CompTIA
Advanced AI Adoption
While many tech providers have adapted to AI and implemented it into their products and services, some have decided not to offer such services, but have started implementing it into workflows and systems.
As we enter 2024, the benefits that AI solutions can present are endless, especially with the number of advancements being made every day. 56% of businesses say that they are either experimenting or researching AI solutions within their company. Current top uses for AI solutions include customer service and e-commerce. While other businesses have implemented AI into finance and other areas of their business.
With around 92% of large companies achieving positive returns on investment from their AI integration, it is clear to see why so many businesses are starting to invest in this technology and create a supportive infrastructure to build better products and services for their customers.
In recent years, many organisations have shifted their hiring methods. They have moved away from traditional recruitment and moved into a skilled-based hiring approach. This approach is designed to locate better-fitting candidates for an individual role.
The transparent hiring style requires both established guidelines for job roles and levels as well as a culture of consistent and open communication. Recruiters must clearly define the skills required for a specific role, and candidates are evaluated based on their expertise within those desired skills.
Skill-based hiring not only helps find quality candidates but also helps improve overall retention rates. The approach promotes career development within the workplace, which benefits both employees and employers, as the skillset to work towards is made clear.
Hiring staff with the knowledge that career and skills development is a focus within your company is a great way to improve your staff retention while encouraging your team to provide better services and create better products through consistent upskilling.
Hiring an apprentice can help you achieve your 2024 business goals. In today’s digital world, the importance of skilled professionals is higher than ever and a strong IT team & IT system is a necessity for securing all your company and customer data.
From gaining a strong understanding of client and network architecture to troubleshooting and cloud systems, our programmes cover a wide range of industry-relevant skills needed to grow your business.
If you don’t believe us, take it from Andrew Seaton, Managing Director of Resolve IT.
“Any forward-thinking company, especially in the IT sector needs to think about how they would attract and retain talent. And for us, we found apprentices to be really, really great.”
Find out more about our IT programmes: