Within 2024, small and medium-sized enterprises (SMEs) will witness several innovative and transformative trends to stay competitive in their management. Technological advancements, advanced AI emerging workforce dynamics, and tremendous admiration for compliance and efficiency embrace these trends.
In 2023, Generative AI technology stood out with tools such as Chat GPT, Dall-E making and advanced AI that evolved from businesses to individuals and everyone. Will the hype settle down in 2024, or will it be unlocked?
Our realm is filled with vibrant exposure for the SMEs in Hong Kong, where the giddy thrill of entrepreneurship meets the tactics of technology.
Optimize your business management system with the right Cloud HRMS software in your workplace. Uncover why SMEs should prioritize selecting suitable software and gain insights into the critical tech trends before implementation. Discover the top tech trends of SMEs in Hong Kong and gain a competitive future with informative insights.
The four tech waves will give a promising new rhythm for modern business enterprises in 2024.
Top Tech Trends for SMEs in Hong Kong
Let us unpack the top tech trends for SMEs for Hong Kong in 2024.
Generative AI
The business world is booming and gushing into investments, adoption, and globally accepted Generative AI trends. So, the influence of these AI trends saturates the tech world and impacts the whole world for many years.
However, business entrepreneurs must keenly understand that AI enforces the dynamic force of human capabilities, reforges traditional tasks, and eases your work mode so that it paces the tasks executed effectively.
To stay competitive and innovative in your business environment, you need to yoke this technology, and the workplace must make strategic decisions in data security, investment, and regional fosterage.
Cyber Security
Many rife security breach incidents for HK businesses have delivered renewed focus on security and resilience.
The organization plans to take necessary actions against organizations and stakeholders to promote efficient organizations, aligning with CISCOs’ strategic commitment to creating secure and resilient organizations.
In 2022, HK companies experienced Lance phishing attacks to strengthen their defences against targeted cyberattacks. This highlights the insights based on robust security measures, employee cognizance, and multi-factor authentication (MFA) in the threat arena.
Since lance phishing is perplexing as a risk factor, cybersecurity vigilance is crucial and significant in unfastening. Organizations must take proactive measures to future-proof their data and to lessen theft.
Many significant tech specialists researched and revealed the top safety concerns that should be safeguarded in 2024, as listed below based on the diagram below: –
- Data security is the prime concern, with 86% of respondents tend to worry
- 82% follow with phishing attacks and social engineering witnesses too closely
- ID issues and identity theft are concerns for 79% of participants
- Ransomware is a significant worry where 76% of surveyed
- Third-party security risks can also be issued
As the business landscape in India expands with changes, digital malignancies are surging vastly. In response to this growing threat, Chief Information Security Officers (CISCO) have evolved with security and resilience. Delivering as the pinnacle of the agenda across the nation for the upcoming year.
Cloud migration
Due to the digital pressures that evolved during the pandemic, Hong Kong organizations soon grabbed their workplace activities into cloud confluence.
Based on the comprehensive study about 2000 HK Tech executives reviewed the shift of cloud towards public, private, and hybrid cloud environments due to the industry’s tractability.
This modulation has realized the expansion of cloud migration support. Based on the diagram below, at 2025 will turn most of the 55% of workloads to the public cloud.
The primary advantage behind the shift of cloud platforms is the resilience of scalability, remote work management, and financial efficiency offers. Studies reveal based on the diagram, that 11% of SMEs are inclined to cloud migration, and larger enterprises are already committed to cloud platforms.
A significant hurdle in HK organizations’ ability to follow cloud confluence is the absence of inherent legacy systems. Initially, turning to cloud migration can be expensive. Justifying expenses is difficult, whereas the legacy systems need to be more efficient.
Besides the legacy systems and applications, other factors that influence the delay of cloud migration can be as followed below:-
- Architectural Issues
- Lack of in-house Talent
- Operational Expenses
- Accidental Migration
Gathering and focusing on 2025 and adopting cloud migration for mission-critical applications will be pivotal outlooks and driving forces in the future.
Digital Transformation
We are achieving success in digital transformation links to customer-centric strategies, strategic alignments, and overcoming legacy challenges.
Digital transformation is a cohesive strategy of an organization that enhances synergetic vital roles, including digital initiatives, data utilization, and human resources, to work amiably to reach common goals.
Additionally, to these highlights, the vital role always stands for real-time customer insights, which allows the organizations to stay agile and perform as well as the customers’ needs.
However, optimizing an agile team creates an effective and efficient project delivery that fosters digital innovation and competitiveness in this ever-changing digital landscape that develops a digital-first organizational culture. To know the advantages of HRMS in Hong Kong in shifting to the right HRMS, you need to know the checklist to be followed.
Summary
In a nutshell, with these data breaches evolving in 2024, every organization fortunes for trusted and secured technological advancement that fosters success ahead. In today’s environment, to cope with the situation, cloud HRMS delivers consistently resilient services. By acquiring demonstrations of investing in technology that vanguard technology-driven growth and innovation.
Hope you received an informed insight!
To know more information, seek guidance from our experts drop an email to us at sales@info-tech.com.hk, or call us at +852 2456 5811.
