The high tech industry has long been an example to other sectors of shining innovation, sleek operations, and devout customers. But recent years may be shifting that perception, especially with the record-breaking and repeating layoffs coming from tech companies in 2023.
To shake the bad taste of 2023 layoffs off, high tech organizations will need to pay attention to the trends and sentiments affecting talent pools and consumers and respond emphatically. These are Simplus’ top focus areas for high tech in 2024:
AI will dominate tech investment conversations… and threaten talent
The possibilities of generative AI are plentiful and enticing to many, but the implementation of such technologies is much more complicated than it sounds. For starters, acquiring the right talent to oversee AI use cases is no small task, and current talent may balk at the thought of over-relying on AI to the point that their own positions become irrelevant. For these reasons, and many more, securing AI adoption will be an ongoing conversation for high tech companies seeking the personalized automation AI could give consumers (a la Spotify Wrapped) but trying to grow steadily with top talent on board.
Interconnectivity will be the consumer’s ideal end state
High tech consumers are increasingly looking for more connected services and devices to make their lives easier. The more embedded and connected your own product/service offering is to the other brands your target audience is already committed to, the easier it will be to win them over. 5G and the IoT are accelerating this push for interconnectivity in all consumer products and services, and AI will only add to that rise. To keep pace, high tech organizations will need to seek strategic partnerships, transparent API connections, and a strong tech foundation that supports the complex web of data such interconnectedness will inevitably weave. Speaking of data…
Data, data, data: Creating actionable data will be a constant priority
Quality data is different than just data. Everyone has data, but a select few have actionable data that they can make strategic decisions based off of and leverage for ongoing revenue. Clean data that adds value to business operations is one surefire way to distinguish your offering from competitors and earn consumer trust. It’s one thing to collect a large quantity of data, it’s completely another to prioritize the quality of data. Establishing a sound data strategy for cleansing, deduplicating, housing, and organizing your data will be the top priority for high tech leaders because nothing else discussed—AI, interconnected offerings—is possible without the fuel of good, clean data.
To get the most out of these emerging technologies and next-gen solutions, your organization will need an expert tech partner at your side to implement, guide change, and maintain systems. Simplus is that partner. Reach out today and let’s start a conversation about your long-term goals and vision.