The Year of Data & Commercialisation
Posted on Tuesday, January 8, 2019 by Venn Group — No comments
In a climate where technological breakthroughs are reported on a daily basis, it is no surprise that the sector holds great promise for 2019. Director of our Technology division, Tim Dixon, gives his thoughts on the specific developments we can expect in the following 12 months:
2018 saw most business leaders and hiring managers grappling either with the application of concepts like Big Data, Cloud, Internet of Things, Artificial Intelligence and Blockchain, keeping ahead of Cyber Risk, or simply trying to grasp the concepts themselves.
As the concepts and the tech have aged and moved into commonplace conversation, business has moved from embracing innovation for its own sake, to monetising it. Inevitably, people’s immediate thoughts and efforts are focussed by the potential impacts of Brexit, whether these be orderly or disorderly. Whilst the maelstrom continues to rage in the political sphere, most business leaders have displayed ultimate pragmatism. They are looking at how best to deploy and apply technical solutions to quickly provide commercial advantage, whilst the balance of other market forces and confidence in them seems increasingly uncertain.
The point of convergence for all technical fascinations of 2018 was data. 2019 looks set to drill into this to put innovations to work to transform commercial practices. Companies are realising that a strong grasp of data offers competitive advantage in a world where their traditional place is no longer assured. The focus on data is set to intensify as, with the mystery and hysteria over Blockchain slowing, real applications of peer-to-peer technologies move centre stage. This is the juicy stuff – behind the Bitcoin bubble.
If, as we’re told, there really are 2.5 quintillion bytes of data created every day, then 90% of all existing data was created in the last 2 years. Business leaders will need to apply the latest insights and technologies to extract meaningful signals from the noise of all that data, to apply it to create business value, improving productivity to point where we begin to overtake European neighbours. Workers will be called on to use new technologies positively to increase workplace productivity and efficiency.
Political circles are pondering how this new commercial imperative disrupts traditional workforce relations, especially the Trade Union model of engagement whose membership is now just 18%, down from its 50% mid-1980's peak. Tech-savvy workers are already moving to online representation platforms such as Hustle and Mystro; though less familiar, these may offer them greater traction. This space in particular is set to develop quickly in 2019.
If you are looking for a new opportunity in the Technology sector or are looking to bring temporary or permanent support into your team, then please get in touch with us. You can find the contact details for our offices here.