Small Business Trends of 2024
Small Business Trends of 2024 to Consider
As an entrepreneur or small business owner, you may not be at the forefront of developing technology, but tech still plays a vital role in your business’s growth and efficiency. Given how much things have changed in the past year, small business technology trends will only become more important throughout 2024.
While new infrastructure like 5G will continue to gain traction, established markets such as employee monitoring software will also have a greater impact on small businesses. In addition to investigating the latest tech trends among small companies, we asked some leading tech experts and small business owners for their thoughts. Here are 11 small business tech trends for 2024 and beyond:
Artificial intelligence (AI) will become more widespread. AI is reshaping the insurance industry by improving insurer pain points and creating a better user experience. AI will also benefit from reaching the point of operator profitability. For instance, technology company NVIDIA found AI deployments in retail stores caught 98 percent of instances of theft, fraud or human error, which led to a quick return on investment. With return on investment in mind, IBM found 35 percent of companies are currently using AI with another 42 percent exploring AI use cases. This could mean a wide range of implementation scenarios this year, such as voice assistants, personalized customer experiences and e-commerce chatbot services. In fact, artificial intelligence business trends already include more AI in cybersecurity, CRM systems and market research. Meredith Schmidt, executive vice president and general manager of small business and essentials at Salesforce, said that although artificial intelligence may sound like something only large enterprises use, it will become more widely adopted by small businesses.
5G will continue to gain traction. 5G is the fifth generation of wireless technology and is expected to be faster and more reliable than its predecessors. It will enable faster download and upload speeds, lower latency, and more reliable connections. This will have a significant impact on small businesses, especially those that rely on mobile devices and cloud computing.
Employee monitoring software will have a greater impact on small businesses. Employee monitoring software is becoming more sophisticated and can help small businesses improve productivity, reduce costs, and ensure compliance with labor laws. It can also help businesses identify areas where they can improve employee engagement and satisfaction.
Cloud computing will continue to be a game-changer for small businesses. Cloud computing allows small businesses to access powerful computing resources without having to invest in expensive hardware and software. It also enables businesses to scale up or down quickly and easily, depending on their needs.
Cybersecurity will remain a top priority for small businesses. Cyberattacks are becoming more sophisticated and frequent, and small businesses are often the most vulnerable. Small businesses need to take steps to protect their data and systems from cyber threats.
Remote work will continue to be a trend in 2024. The COVID-19 pandemic has accelerated the trend towards remote work, and many small businesses are now embracing it. Remote work can help small businesses reduce costs, improve productivity, and attract and retain top talent.
Virtual and augmented reality will become more mainstream. Virtual and augmented reality technologies are becoming more accessible and affordable, and small businesses are starting to use them to enhance customer experiences and improve employee training.
Blockchain will continue to be a disruptive technology. Blockchain is a decentralized ledger technology that can be used to create secure and transparent transactions. It has the potential to revolutionize many industries, including finance, healthcare, and supply chain management.
Internet of Things (IoT) devices will become more prevalent. IoT devices are becoming more common in homes and businesses, and small businesses are starting to use them to improve efficiency and reduce costs.
Automation will continue to transform small businesses. Automation technologies such as robotic process automation (RPA) and chatbots are becoming more sophisticated and can help small businesses improve efficiency and reduce costs.
Digital marketing will become more important for small businesses. Digital marketing allows small businesses to reach a wider audience and target customers more effectively. It also enables businesses to track the effectiveness of their marketing campaigns and adjust them as needed.
In conclusion, small business technology trends are constantly evolving, and it’s important for entrepreneurs and small business owners to stay up-to-date with the latest developments. By embracing these trends, small businesses can improve their efficiency, reduce costs, and stay competitive in an ever-changing marketplace.
Thanks For Reading Everyone!
-Jason
Use The Links Below to Help Support this blog and our podcast
Commission Earned