The Information technology (IT) sector is rapidly evolving, with new needs, products and new features being released frequently than ever before. All of these changes are exciting and challenging at the same time, especially for Tech companies and those looking to adopt technologies to keep up with the fast-paced world. With the cutting-edge competition coupled with issues such as cybersecurity and the ever-changing legal framework, IT companies have a lot of issues to deal with in 2019 and beyond. Experts in the IT industry predict a difficult moment ahead and have found the following 10 biggest IT issues It faces today:
1. Market Incorporation
With the proliferation of new technologies at a greater rate than ever before, cause the trouble of failure to integrate them into the existing platforms. A classic example of this problem has been the development of the voice and artificial intelligence, all of which have been developed rapidly but with no significant impact thus far. This means there's a growing gap between the newly developed products and the traditional framework, an issue that IT firms will have to contend with.
2. Talent acquisition
Talent is the main fuel that drives the engine of IT innovation and implementation. Today, many IT firms, especially startups are finding challenges getting the right talent because of its continued scarcity arising from their global distribution. Companies that will retain their efficiency are those that will be able to retain their strong and innovative teams.
3. Balancing The IT-related Risks and Rewards
While the benefits of technology are real, there is also a growing worry about the enormity of the risks that come with it. Therefore, IT firms will have to bear with the risks while trying to leverage the potential of IT tools.
4. Data Governance, Security and Privacy
Aside from the talent gap and Artificial Intelligence transformation issues, data governance, security and privacy are expected to be the biggest concerns for many tech companies in 2019 and beyond. A highly imbalanced regulatory framework can adversely inhibit the application of IT products and this can be a huge setback to innovation.
5. Cloud Network Issues
Today, many organizations beginning to move data to cloud platform. However, there's has been a major cry on the networks issues owing to the amount of workloads pushed to the network. This will mean increased adoption and use of cloud computing, companies will experience increased downtime than ever before.
6. Erosion of Public Trust
As Tech companies continue to monetize their innovation, the public will begin to be skeptical about their products and serious security violations as they continue to understand the market.
7. Digital Transformation of Enterprise-Level Companies
Without a doubt, innovations, patents, new gadgets and groundbreaking ideas are transforming the way live and do our work. However, the biggest challenge would be the digital transformation of enterprise-level firms as occasioned by the General Data Protection Regulation (GDPR) problems in the last two years.
8. Ensuring Regulatory Framework on Privacy is Implemented
One of the biggest challenges facing the IT world in 2019 is the putting into effect reality the user privacy rights. It has become clear that regulations such as the GDPR are not easy to implement. Therefore, creating a balance between end-user privacy rights and ownership will require firms and regulatory organs to figure out new approaches.
9. Fear of Artificial Intelligence
The biggest challenge faces the Tec industry will be the biggest fear for artificial intelligence as something that will take away the jobs of most of the people working in IT firms. Areas feared to be affected by AI include data entry, customer relationship management and support and back-office work.
10. Finding new revenue streams
Whereas the business landscape in the technology sector is changing pretty fast, the basic components that constitute the profit streams remain virtually the same. IT firms are investing heavily in new technologies perhaps only to deal with cutting-edge competition. Therefore, Tech companies are going to require to find new revenue streams in order for the increased expenditure on new technologies to make sense.