The technological landscape is undergoing rapid change, bringing forth a wealth of trends and innovations that have the potential to reshape the very fabric of how businesses operate, compete, and ultimately thrive in 2024 and beyond. Among these IT developments, we’ve picked five that are most likely to impact small- and medium-sized businesses (SMBs) in the new year.

Artificial intelligence (AI) has been making waves in the business world, sparking debates and discussions over its potential impact on industries. However, along with the excitement and anticipation surrounding AI, there are also many misconceptions that may be holding businesses back from fully embracing this technology.

In popular media, cybercriminals are often portrayed targeting big corporations or top government agencies. In reality, they typically attack small- and medium-sized businesses (SMBs). This is because these organizations are easier to infiltrate: unlike large enterprises, SMBs may lack crucial resources, such as budget and IT personnel, hampering their ability to implement sophisticated cybersecurity tools and technologies.

Artificial intelligence (AI) can transform business operations, enhance efficiency, and improve customer experiences. From data analysis to customer support, AI technologies have proven their worth in numerous business situations. However, it's crucial for businesses to recognize the areas where AI excels and where human expertise remains irreplaceable.

The rise of hybrid work has created a unique set of technology needs for small businesses and large enterprises alike. Primarily, hybrid work necessitates that companies have the right technology tools and infrastructure in place to support this work setup.

If you're running a small- or medium-sized business (SMB), then you know that managing your company's IT system can be a real challenge. This is especially true if you don't have a lot of human or technological resources at your disposal. Fortunately, there is a way to ensure that your SMB's IT assets are performing optimally: by conducting technology business reviews.

There's no doubt that technology has had a profound impact on businesses. In the last few years alone, Canadian organizations — from corporations to small- and medium-sized businesses — have seen how technology is invaluable in keeping operations going during times of crisis and disruption.

All owners of small- and medium-sized businesses (SMBs) should plan for their company’s future IT needs. This entails thinking about things like expanding their network, upgrading their hardware, and adding new software. If they don't prepare for the future, they may struggle to keep up with growing demands and eventually fall behind the competition.

Businesses across all industries need to invest in technology to remain competitive. But because not all technologies deliver on their promised benefits, it’s vital for business leaders and/or their IT partners to make sure that their technology investments are worth keeping.

As a business owner, you understand the importance of upgrading your company’s technology infrastructure. You’re also aware that technology isn’t cheap, which is perhaps why you’re hesitant to invest in new hardware and software. But putting off or ignoring these upgrades altogether could mean missing out on benefits that add value to your business, including the following.