2022 is already well underway, and the technology space is already bursting with new developments. As digital proliferation continues at breakneck speed, several innovations are poised to disrupt the industry and change the course of the technological landscape. Here are some of the most powerful advances and disruptions that will take tech by storm this year.
As more businesses go online every month, and cloud technology inherits more data from private businesses, the risk of cyber incidents has never been greater. Cyber crime is growing at a rate of 15% per year, with nearly half of these attacks targeted at small businesses. Less than one-fifth of these companies are equipped to handle the threat, creating a serious security disconnect in the data marketplace.
With many businesses relying on their own proprietary network security teams, hackers find their way into the mainframe primarily through phishing attacks and user error. In 2022, you can expect a host of cybersecurity startups aimed at small business risk to enter the marketplace and address this burgeoning demand for affordable, customizable security solutions.
As the regulatory space becomes stricter on large financial institutions, almost one-third of these firms have deployed artificial intelligence to help them comply. However, that technology itself will soon be regulated. This year, we can expect policymakers and industry organizations around the world to develop practices and laws regarding the ethical and effective use of AI to perform business functions. 43% of financial institutions noted that pending AI rules and regulations were a key concern for 2022 as the technology continues to prove useful. The first regulations are forecasted to be drawn up this year and take effect in 2023.
Crypto Regulation & Hacking
Another area that holds serious potential for regulatory action in 2022 is the cryptocurrency space. As most governments are actively developing policies for transaction reporting for tax purposes, industry tastemakers have embroiled themselves in a battle over the privacy and autonomy of the tech. As the market cap of the cryptocurrency space speeds towards $2 trillion, you can be sure that the government will want its share of the action.
55% of Bitcoin investors established their first position in the last 12 months. This massive inflow of capital into the space has opened the door for hackers as well. With millions of new users with little financial experience and no security measures entering the market, many cyber criminals see their resources as ripe for the taking. In 2022, cryptocurrency theft and fraud will undoubtedly skyrocket.
Customization and Hybrid Solutions
Nearly every technology is growing and changing, and businesses now have the ability to create a custom solution that fits their unique needs. Some are opting for a multi-cloud solution by utilizing the best data storage features of multiple providers. Others still are choosing a hybrid solution, wherein some functions are offloaded to the cloud while some remain in-house.
This year, expect to see more boutique cloud service providers step into the ring in an effort to capture market share, while business leaders become more knowledgeable about the cloud space and its capabilities.
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