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7 Technology Trends Shaping 2021

Posted March 31, 2021 in Articles

Several technology trends are shaping the way companies do business in 2021. While some of these trends relate to the ongoing COVID-19 pandemic, many do not, and companies are now looking past the pandemic and strategizing with the future in mind.

1. Artificial Intelligence and Automation

Artificial intelligence (AI) and automation have both been on “technology trends” lists for the past few years, but now companies are increasingly using them together. By utilizing artificial intelligence to create smarter and more dynamic automated processes, companies can streamline their operations and enhance their customers’ experience.

2. Technology-Based B2B and B2C Services

Going beyond software as a service (SAAS), many companies are finding new ways to deliver technology-based services to both corporate and individual customers. Companies can often achieve a significant return on investment by transitioning from human-powered to technology-based services, and in many cases, companies can redeploy their workforces in other areas to spur additional growth.

3. Streamlined Virtual Connections

At the beginning of the pandemic, companies were scrambling to find any way to connect with their customers over the Internet. Now, more than a year in, companies are streamlining their virtual connections and relying on systems and processes to integrate virtual connectivity into their day-to-day operations.

4. Location Independence

The pandemic has also spurred the use of technology to create location-independent operations. Not only are many companies transitioning to remote or partially remote workforces permanently, but many companies are finding new opportunities to serve a broader base of customers as well.

5. Technology as a Core Element of Business Strategy

From the rise of AI to the economic impacts of the pandemic, several factors are contributing to companies adopting technology as a core element of their business strategy. Whereas most companies viewed technological innovations as added benefits as recently as five years ago (think about the gamification), today, companies are looking at technology as a way to drive their businesses forward.

6. “Zero Trust” Cybersecurity

The recent high-profile data breaches in the U.S. and abroad have caused many companies to take a “zero trust” approach to cybersecurity. While maintaining cybersecurity has been important for companies since the dawn of the internet, the enormous amount of valuable data companies store combined with the increasing prevalence of significant threats means that companies need to be certain that their systems are secure.

7. Enhanced Focus on Resilience

From the pandemic to data security breaches to the recent Texas grid failure, companies have been given many reasons to focus on resilience in 2021. Not only will resilient companies be the ones that can keep running, but they will also be the ones that are prepared to jump on new opportunities when they arise.

Leveraging New Technologies to Help Your Business Prosper

Do you have questions about what your company should be doing to leverage technology in 2021? If so, we encourage you to get in touch. To speak with a senior consultant at Mithras Investments in confidence, call us at 305-517-7911 or inquire online today.

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