As we approach 2025, businesses are navigating an increasingly digital landscape where emerging technologies hold the promise of significant transformation. From artificial intelligence (AI) and automation to the Internet of Things (IoT), the potential to drive growth, streamline operations, and create competitive advantages is greater than ever. However, identifying the right technologies and integrating them seamlessly into your operations requires strategic planning and expert guidance. Much like businesses struggled in the early days of cloud computing and the Internet of Things to understand where those technologies added value, many organizations are still in the "watch and wait" phase - observing to see how AI and automation may provide new opportunities for cost-savings, growth, and efficiency in their industry.
At Exigent Technologies, we specialize in helping small to midsized businesses (SMBs) harness innovative technologies through The Exigent Method—our proven approach to delivering tailored, scalable, and secure IT solutions. While many of our recommendations revolve around more proven technology, we thought the last week of 2024 was the perfect time to brainstorm about cutting-edge technologies that might help businesses achieve success in 2025.
Can Your Business Take Advantage of Emerging Tech?
Regardless of what innovative tech you are considering, before jumping in, take the time to really consider and define business objectives tied to the technology under consideration. For example:
- Artificial Intelligence (AI): If your goal is to enhance customer experience, AI-powered chatbots or predictive analytics can provide personalized interactions and insights.
- Automation: Streamlining back-office operations like invoicing or inventory management could free up resources for strategic initiatives.
- IoT: For businesses focused on operational efficiency, IoT devices can enable real-time monitoring of equipment or assets.
Each business is different, and within your organization, you may find certain lines of business may benefit from an emerging technology while others do not. While we always recommend aligning tech investments with your overall business strategy, we also understand that some technology can be evaluated in one department to understand its value, potential use cases, and any challenges.
One example is Generative AI. Many marketing departments have found extreme efficiencies using tools such as ChatGPT. Allowing that team to explore and test the technology is a great opportunity to "test drive" an innovative technology. From there, either your IT team or your MSP can review options and map out a strategic plan to integrate that emerging technology in other areas.
Evaluating ROI and Scalability of Emerging Technologies
Let's be honest, even in today's digital work of applications and technologies on-demand, implementing emerging technologies has costs associated, and small to midsized businesses must balance costs and benefits carefully – no matter the cool factor of an innovative app or technology:
- Return on Investment (ROI): Calculate the expected cost savings, revenue growth, or efficiency gains a technology will deliver.
- Scalability: Assess whether the solution can grow with your business or adapt to evolving needs.
- Usability: Can this technology be used widely in your business and deliver benefits across multiple use cases?
- Adoptability: Cutting-edge technology is sexy. There, we said it. But for those employees who are not digital natives, or simply struggle with new IT tools, adopting innovative tech can be overwhelming, leading to a lack of engagement and undercutting that ROI you so carefully calculated.
- Security: Never overlook the security baked into new tools or applications, particularly if your organization is regulated. Early Gen AI adopters found out quickly that security and privacy within AI tools wasn't up to snuff and some paid a significant price for that oversight.
Best Practices for Adoption
Respected technology analyst firm Gartner offers a deep dive into Gen AI in its series on innovative technology, alongside some tips for getting started that can easily be adapted for many innovative technology implementations.
- Start inside. Before using generative AI to create customer- or other external-facing content, test extensively with internal stakeholders and employee use cases. For other innovative solutions, start implementations by understanding how that solution integrates with or potentially disrupts existing infrastructure. Some examples:
- AI and Automation: Start with pilot projects that target specific pain points, such as automating data entry or improving supply chain forecasting. These initiatives can provide measurable ROI and insights into scalability.
- IoT: Evaluate whether your IoT devices can integrate seamlessly with existing systems and expand as your operational needs grow.
- Prize transparency. Be forthcoming with your audiences about the use of AI or any tech that could be misinterpreted as a human being in a conversation, digital exchange, or other situation.
- Due diligence. Set up processes and guardrails to track glitches, measure outcomes and constantly review for problems. Be certain to assign a "buck stops here" person who owns this implementation and can field inquiries and complaints alike.
- Address privacy and security concerns. Evaluate all new technology for security, privacy, or compliance concerns.
- Take it slow. Keep functionality in beta for an extended period.
- Craft clear policies for use cases throughout the process. Don't wait until your tool is in widespread use to craft appropriate policies for its usage. Your policies should address appropriate usage, oversight and accountability contacts, and any cautionary guidelines needed, particularly in the early adoption stages.
By setting clear goals, evaluating ROI and scalability, and ensuring smooth integration, you can unlock the full potential of cutting-edge tools. While cutting-edge technologies can be wrought with pitfalls and glitches, thoughtful investment in stable, proven emerging solutions can position your business for sustained growth and success.
