Choosing the right technology to grow a business is as challenging as ever. Even though the list of technological trends and digital options has grown to encompass every fringe industry, one still needs to have a vision of how to apply the tools at hand to scale a business.
Trends For Every CTO To Watch
In general, the CTO is the person who leads business technology and empowers development teams to innovate and deliver results. Therefore, Startup CTOs have to be in the know of the latest trends and be able to predict which way the market winds are blowing to achieve the targeted growth of their businesses. As CEO of a company specializing in software development, these are the 10 trends I think it’s most important for Startup CTOs to consider for their businesses.
1. The Internet Of Things
By now, companies have finally begun to realize the essential value of the IoT, especially when it comes to delivering information to supply chains with a satisfying client experience. Companies strive for tools that will help them integrate the IoT into their enterprise strategies. For example, if we combine 5G networks or the industrial internet with the IoT, different sensor-based tools can give companies more opportunities to improve processes and their effectiveness. These types of technologies provide plenty of data to improve machine learning that will inevitably enhance productivity.
2. Prioritizing The Customer Experience
Undoubtedly, the role of a CTO has evolved dramatically. It seems like just yesterday when Startup CTOs worked mainly on business plans, figuring out which next big feature has the potential to skyrocket their businesses. Today, their attention mostly focuses on user satisfaction and, primarily, the user experience. At the end of the day, it’s the users who determine whether a startup will work out or not.
3. Cross-Functional Team Collaboration
Simply put, collaboration is an ongoing trend that’s here to stay. The best Startup CTOs out there make sure cross-functional teams work well together to achieve mutual goals. That’s the strategy that will lead to success in a fast-paced business environment. All teammates must be on the same page and work efficiently toward a business’s goals.
4. Predictive Analytics
Another trend that has the potential to dramatically impact business is predictive analytics. Analyzing customer data and user journeys is now easier than ever before, which in turn helps optimize business systems and improve the effectiveness of operations. Predictive analytics can allow businesses to make data-driven decisions instead of acting on a whim.
5. Information Security
Truthfully, this trend should have been at the top of the list. Nevertheless, let’s talk about cybersecurity and why Startup CTOs must invest in these technologies. It may seem strange, but startups are quite vulnerable to online attacks and breaches of different sorts. Thus, to protect the sensitive data of a business, making sure it’s secure enough to handle operations should be one of the highest priorities—if not the highest one.
6. Workflow Automation
Another trend is, of course, automation of manual labor. It’s one of those trends that will only continue to grow in the coming years. As a CTO, one should take into account that companies need to free up more employee time so they can focus on matters that only humans can handle. In the near future, Startup CTOs should think of investing in automation tools, with many of them already doing so.
7. Virtual And Augmentative Reality
The next trend to keep in mind is the endless possibilities of VR and AR for enhancing the customer experience and the ways a business communicates with its customers. When it comes to startups, one has to have in mind a way to stand out from the crowd. And what’s the best way to do it if not by implementing one of the best technological inventions of previous years? No matter the industry, VR and AR can benefit businesses, and that’s what Startup CTOs should keep top of mind.
8. Artificial Intelligence
AI is one of those tools that some people should accept and apply, as others are already applying it to achieve greater business productivity. The technology of the new era most definitely includes AI, which is why Startup CTOs should consider investing in the future of business operations. With new technologies, surely there’s a risk. However, it’s clear now that not investing in new technology may be even riskier. No business wants to be left behind because they missed out on an opportunity to be an early adopter.
9. Cloud Computing Technologies
Another rising trend is adopting cloud computing. What’s cloud computing and why should Startup CTOs know about this trend? In a nutshell, according to Microsoft, cloud computing is “the delivery of computing services—including servers, storage, databases, networking, software, analytics, and intelligence—over the Internet (‘the cloud’) to offer faster innovation, flexible resources, and economies of scale.” Thus, the reason why CTOs should consider investing in cloud computing is simply to ease the process of sharing information and keeping every bit of sensitive data safe.
10. Going Agile
The last trend during the past few years has been going agile. This means that Startup CTOs work closely with small teams, getting more feedback and keeping the focus on the results. Startup CTOs should be closely involved in the process so that agile methodologies are correctly implemented in their organizations.
Working in a fast-paced environment makes you consider process optimization far more than if you didn’t, as well as what tools or technologies can deliver the best outcomes. There are always going to be global trends, but Startup CTOs have to be able to predict which ones will work out for their businesses. It’s great to have a variety of technologies to choose from, and when the correct choice is made, the effects can be worth their weight in gold.