Tech Trends for Scaling Businesses in 2022

With the start of a new year, I thought it would be the perfect time to discuss some tech trends that will be important for businesses scaling in 2022.

This past year, we saw a recurring theme, with 2021 bringing some groundbreaking and huge technological breakthroughs. While many of these breakthroughs were specifically geared toward helping communities and companies navigate the “new normal” conditions brought on by the ongoing pandemic, we have to wonder: What can we expect for 2022 as we continue forward? 

You can look forward to innovations that will change how we use the internet, as well as overhauls on the way we view—and use—data, security, and online access.

Blockchain Is Going to Be Big

Back in its baby stages, the internet got its start with websites and blogs, with companies like Yahoo, eBay, and Amazon being the epitome of stage one. Then, the 2.0 version came along, ushering in social media and user-generated content, thanks to sites like Facebook and YouTube.

Now, we are seeing a new wave with blockchain technology. Blockchain—where computer programs run on networks of thousands or millions of computers—has given rise to cryptocurrencies like bitcoin and the newly popular NFTs.

When reporting on blockchain technology, a recent Cision PR Newswire report predicted that the global blockchain market would not only grow but would explode—forecasting its increase from $3 billion in 2020 to a staggering $39.7 billion by 2025. 

Why is blockchain such a big deal? It marks itself as the most significant financial innovation for digital transactions since its management is distributed rather than controlled by one sole individual, company, government, or bank. 

Big Data and Data Aggregation Are the Orders of the Day

It may surprise you to learn that it was estimated that by 2020, 1.7 MB of data would be created every second. The focus on data is not going to decrease any time soon. Moving forward, we are seeing that not only Fintech providers and their customers can generate vast amounts of data, but that data can then be collected to provide insights into the customer, including their financial status. 

For this reason, we can forecast that many financial institutions will start joining forces with data aggregators to benefit from big data and improve customer retention and customer service.

As for the data aggregators, they will take on a deeper and more prominent role in being the bridge (or go-between) and take responsibility for facilitating the way data is exchanged between financial institutions and their customers. 

Data Security and Ransomware Will Ramp Up in 2022

Ransomware will be everywhere in 2022, which comes as no surprise when considering the massive spike in ransomware attacks and data leaks that we saw in 2021. Cybersecurity company SonicWall reported: “With 495 million ransomware attacks logged by the company this year to date, 2021 will be the most costly and dangerous year on record.” 

Hence, when it comes to cybersecurity, it is clear that companies are taking it seriously and are determined that 2022 breaks that cyber-extortion streak. “When I think about 2022, the thing that’s top of mind for me and for my colleagues continues to be ransomware,” wrote Sandra Joyce, executive vice president and head of global intelligence at cybersecurity firm Mandiant.

Internet Access Will Expand

We will especially see the expansion of Internet access in more rural and developing areas, thanks to the U.S. Infrastructure Investment and Jobs Act passing this year. It relegated $65 billion to expand broadband access and establish a new Office of Internet Connectivity and Growth geared toward providing every American with access to high-speed, affordable broadband. 

And this expansion will not only come from the government. Plans for launches of private communications satellite technology, such as SpaceX’s Starlink, are also in the works— endeavors which hope to provide everyone with speedy internet access, regardless of where they are in the world. This is exciting stuff, and it’s going to be a game-changer. Even now, there are still many parts of Canada and the U.S. that don’t have access to high-speed internet.

Hyperautomation Ranks High on the Agenda

A Forbes article discussing Gartner’s 2022 Top Strategic Technology Trends mentions hyperautomation as number seven on its list. According to Gartner, hyperautomation is best defined as “a disciplined, business-driven approach to rapidly identify, vet and automate as many business and IT processes as possible.” Although this trend is certainly not new, it will take a much more predominant role as we head into 2022. 

While we’re on the subject, I’ve written before about the rise in embedded intelligence, and we are only seeing the integration of more AI and other similar tech features moving forward into 2022. Undoubtedly, it’s an exciting and somewhat surreal time to be alive. And as we continue to evolve the way we go about conducting business—and daily life—I continue to be amazed.