{"id":40737,"date":"2023-10-20T15:09:42","date_gmt":"2023-10-20T15:09:42","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/top-tech-trends-to-watch-in-2017-startupsmart-2\/"},"modified":"2023-10-20T15:09:42","modified_gmt":"2023-10-20T15:09:42","slug":"top-tech-trends-to-watch-in-2017-startupsmart-2","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/top-tech-trends-to-watch-in-2017-startupsmart-2\/","title":{"rendered":"Top tech trends to watch in 2017 – StartupSmart"},"content":{"rendered":"
\"TRAVEL<\/div>\n

2016\u00a0has been a big year for tech. We\u2019ve seen advancements across the board, from virtual reality to wearables, and there have even been pizzas delivered by drones.<\/a><\/p>\n

In\u00a02017, many experts are predicting big movements in financial technology and the Internet of Things, and many SMEs are in a prime position to benefit from these trends.<\/p>\n

Here are four major tech trends business owners can expect to see shaking up the game in the next 12 months.<\/p>\n

1. Cybersecurity remains a priority<\/h3>\n

2016 has been a year of significant data breaches, with 1.3 million Australians affected by a Red Cross data leak<\/a> in October, and details of 1 billion Yahoo user accounts<\/a> surfacing following a 2012 hack.<\/p>\n

Cyber security has also been top of mind for the Australian Government, which introduced its official Cyber Security Strategy earlier this year.<\/p>\n

The government\u2019s\u00a0Cyber Security Growth Centre<\/a> will be up and running in early 2017.<\/p>\n

Unfortunately, government vigilance hasn\u2019t stopped SMEs being targeted by various ransomware and phishing scams<\/a>, and cyber security expert Michael McKinnon warns the attacks are unlikely to stop.<\/p>\n

\u201cIt seems that ransomware continues to trend upwards and affects many businesses that least expect it,\u201d McKinnon told SmartCompany<\/em>.<\/p>\n

\u201cDespite that many of the risks of disruption from this type of attack can be minimised, there are many businesses still not preparing their IT systems to cope.\u201d<\/p>\n

McKinnon says ransomware\u2014which involves cyber criminals holding data hostage in return for payment\u2014often comes through malicious email attachments, and this means awareness training for staff is essential.<\/p>\n

\u201cThe simple fact remains for those in the know: a business with a solid backup and disaster recovery regime in place should never need to pay a ransom demand from a ransomware attack,\u201d McKinnon says.<\/p>\n

\u201cOf course, all the victim stories we hear are from those not prepared\u2014don\u2019t be one of them in 2017.\u201d<\/p>\n

As for the rest of 2017, McKinnon believes more attention is needed when it comes to cloud computing and security, with many businesses now making the switch to cloud solutions to save money and space.<\/p>\n

\u201cAs businesses tend to use multiple cloud-based providers there are lots of integration and data transfer mechanisms that aren\u2019t always properly understood. Or worse, they have been configured poorly, allowing unauthorised access to critical data,\u201d he says.<\/p>\n

A solution, he says, relies on businesses gaining a better understanding of the platforms they use from a security context. McKinnon also calls for more \u201cpragmatic\u201d cybersecurity when it comes to businesses of all sizes.<\/p>\n

\u201cBusinesses everywhere are waking up to the reality that implementing good security requires hard work, expert advice, and dedication to achieve,\u201d he says.<\/p>\n

\u201cI suspect we\u2019ll be seeing more pragmatic security in the new year, backed up by policy frameworks that promote concrete action and technical diligence rather than the appearance of being secure.\u201d<\/p>\n

2. The rise of fintech<\/h3>\n

Many SmartCompany<\/em>\u00a0and StartupSmart\u00a0<\/em>readers will already be aware of the growing prominence of financial technology or fintech,\u00a0with the top two positions in 2016\u2019s Smart50 Awards going to fintech providers<\/a>.<\/p>\n

The same trends is being witnesses around the world, with governments acting\u00a0to introduce regulatory sandboxes<\/a> and advisory councils to keep up with the blossoming industry.<\/p>\n

The Australian Securities and Investments Commission recently introduced a \u201cworld first\u201d licensing exemption for fintech startups<\/a>, which will allow them to test innovative services and products for a period of time without an Australian financial services or credit licence.<\/p>\n

Danielle Szetho, chief executive at FinTech Australia, told SmartCompany<\/em>\u00a0the emergence regulatory sandboxes for fintech startups in a number of regions will allow these companies to \u201cfacilitate innovation whilst still keeping a decent level of oversight and management\u201d.<\/p>\n

\u201cWe\u2019ve seen sandboxes kick off in the UK, Singapore, here in Australia, and even in places like Abu Dhabi. This is a great trend that shows regulators are ready to embrace a collaborative but also a prudent approach to fintech innovation and regulation,\u201d Szetho says.<\/p>\n

In 2017, Szetho believes Australians will receive even more choices when it comes to financial products, as regulators are looking to allow more competition into the banking sector.<\/p>\n

\u201cA major trend that I think extends from both is the move by regulators now toward promoting increased competition from challenger banks,\u201d she says.<\/p>\n

\u201cBoth the UK and US regulators, and government here in Australia, have strongly indicated they want to make it easier for challenger banks to get their licenses and give the big guys a bit more of a run for their money, and give consumers more options to choose from.\u201d<\/p>\n

Szetho says small business lenders have \u201cexploded\u201d in Australia and other parts of the world, but there\u2019s still \u201cplenty of growth left\u201d in the segment. However, Szetho warns quick growth can also increase the risk of unscrupulous operators.<\/p>\n

\u201cBecause [the sector\u2019s] grown so quickly and is largely unregulated, there\u2019s now a risk that some less scrupulous operators are starting to step into the market,\u201d she says.<\/p>\n

3. The Internet of Things continues to evolve<\/h3>\n

The Internet of Things (IoT) is one area of tech it\u2019s likely you don\u2019t even realise you\u2019re using.<\/p>\n

Your phone, laptop, smartwatch, Bluetooth headset, and modem all incorporate elements of this internet working industry, and more and more devices are getting hooked up to the net every day.<\/p>\n

Simply put, the IoT refers to objects that are embedded with connectivity software and hardware, which allows them to communicate with other devices, users, and manufacturers.<\/p>\n

\u201cSmart\u201d devices are quickly becoming the norm for new products coming into the market, and with people everywhere being constantly connected, it\u2019s about time our \u201cthings\u201d became connected too.<\/p>\n

Over 2016, IoT devices have continued to be integrated into various facets of businesses, with one Sydney real estate company even using\u00a0the tech in their reception<\/a>.<\/p>\n

However, one expert believes consumer level IoT products are \u201cfading\u201d, instead heralding 2017 as the year of smart cities and multi-industry interactivity.<\/p>\n

Renald Gallis, a founding director of business focused IoT company Thinxtra says the prominence of \u201cFitbit like devices\u201d has lessened over 2016.<\/p>\n

He believes interoperability is key for the future of the industry.<\/p>\n

\u201cInteroperability between the different IoT solutions is key for success, especially for smart cities. The days of silos are gone, for smart lighting, smart parking, and waste management,\u201d Gallis told SmartCompany<\/em>.<\/p>\n

\u201cAll applications will be connected on one common platform and provide open data sets for stronger analytics and apps to benefits the citizens and businesses.\u201d<\/p>\n

Gallis also believes interactivity between cutting edge disruptive technologies will become commonplace over 2017, with the \u201cbirth\u201d of solutions incorporating tech such as drones, virtual reality, and big data.<\/p>\n

For SMEs wanting to incorporate IoT tech in their businesses, Gallis says most functionality surrounds customised projects, rather than widespread mainstream solutions.<\/p>\n

\u201c[Usage for SMEs] comes with lower costs, higher skills in the workforce in this field, and standardisation. I think we will only see mass adoption at this level in 2018,\u201d Gallis says.<\/p>\n

\u201cI think we are at that early stage in IoT where we work on major fully customised projects but we haven\u2019t reached yet the level of mainstream standard solutions to be simply used by any small business.\u201d<\/p>\n

Gallis likens the current state of IoT tech to \u201cLinux OS with customised desktop computers\u201d: customisable, functional, but difficult to use widely.<\/p>\n

He believes the industry is evolving towards an \u201ciPhone 8\u201d, encompassing a high level of functionality and simplicity for anyone to use.<\/p>\n

This developing area of tech is definitely one for SMEs to keep their eyes on, and Gallis says disruption is assuredly coming.<\/p>\n

\u201cBy 2020, I expect IoT products and services to be at their boom days,\u201d he says.<\/p>\n

4. Businesses embrace the humble app<\/h3>\n

Although smartphone apps have been commonplace for years, 2017 is forecast to be another massive year for apps everywhere\u2014in phones, wearables, smart cars and even smart homes.<\/p>\n

Technology research firm Gartner predicts a whopping 268 billion downloads of apps over the next 12 months, creating upwards of $US77 billion ($106 billion) in revenue.<\/p>\n

SME owners are looking to get a slice of that revenue too, with a survey by\u00a0B2B company Clutch<\/a>\u00a0early this year found almost half of US SMEs are looking to develop an app for their business by 2017, or already have one.<\/p>\n

The three main reasons for building an app among the survey respondents were increased sales, better customer experience, and a desire to be more competitive.<\/p>\n

Andrew Gazdecki, chief executive of app development company BiznessApps, believes app security and location services will be significant trends in the coming year.<\/p>\n

\u201c2016 broke some impressive grounds for location-based app services, and 2017 will certainly take these new discoveries to new levels,\u201d Gazdecki wrote in a blog post <\/a>earlier this month.<\/p>\n

\u201cLocation-based services will allow business to offer customers real-time deals based on their location alone.\u201d<\/p>\n

Location features are already being added to some apps commonly used by small businesses, with\u00a0a new feature in Facebook\u2019s app allowing users <\/a>to find free Wi-Fi hosted by businesses in their vicinity.<\/p>\n

Gazdecki predicts artificial intelligence and machine learning could start to play a big part in app development and identifies mobile commerce as the likely place for first integration, with \u201capps that shop for you based on what you like\u201d.<\/p>\n

\u201cImagine your personal tutor and personal shopper, right on your phone,\u201d he says.<\/p>\n

For businesses still on the fence, here are five reasons why your business needs its own app.<\/a><\/p>\n

This article was originally published on SmartCompany<\/a>.\u00a0<\/em><\/p>\n

Follow StartupSmart on\u00a0Facebook<\/a>,\u00a0Twitter<\/a>,\u00a0LinkedIn<\/a>\u00a0and iTunes<\/a>.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

2016\u00a0has been a big year for tech. We\u2019ve seen advancements across the board, from virtual reality to wearables, and there<\/p>\n","protected":false},"author":2,"featured_media":61106,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,25,13,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/40737"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=40737"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/40737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/61106"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=40737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=40737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=40737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}