Week In Tech: The business of technology
When searching for relevant tech stories to include in this roundup this week, I was struck by the sheer amount of random stuff the internet spits out as well as the more obvious…Government v major tech company battle royale, data breaches and the latest Apple event. But something I’ve been noticing lately in the press and interacting with clients, is this idea that traditional businesses are becoming inherently like tech businesses. As the latest innovations transforms society, so too is its impact being felt within the business world, in every industry. As our world continues to evolve and transform, I believe that most industries and businesses will be run like a technology company, with a technology-first culture and attitude towards development and growth. All business will soon be tech business.
The UK’s largest building society said the investment would be used to “simplify its technology estate and build new technology platforms to enable growth and diversification”. It will open a new “technology hub” employing between 750 and 1,000 people.
As fintech and challenger brands continue to creep into the lending market with a tech first approach, it’s no surprise that moves from the big guys are being made to stay the pace. Particular if Bezos decides to through his hat in the financial services ring.
Britain is in the vanguard of the “medtech” revolution, with more than 500,000 registered medical technology companies and revenues of £21 billion last year.
Although these technologies have the potential to cut costs, waiting lists and improve the nation’s health, the pioneers behind these firms admit there are also frustrations, namely dealing with the NHS and fears over data protection.
There’s a lot of disruptors and innovative businesses coming to the fore but if the medical industry is going to make inroads with innovation, then they need to alter the way they communicate with patients about this. In fact, Apple is trying to do just that, with their latest Watch announcement.
Later this year, Apple Watch will be able to automatically call emergency services if it detects you have suffered a fall and are no longer moving. And it will also let you know if you have heart problems and should perhaps visit your doctor as soon as possible.
As more and more tech becomes synced up with medical practices, ensuring they’re compatible and the hospital or trust can cope will need to be a priority. Pretty soon, there won’t be an aspect of health that tech doesn’t reach.
It’s one thing to have tech that makes a business more efficient, but what about its impact on the workforce?
Research by the TUC revealed that four out of five want to cut their working hours without loss of pay in a survey of over 2,000 people. As technology develops, a union leader has urged for changes to end the “always on” culture.
Technology is no longer this inanimate object that may or may not disrupt how we live our lives and how economies and businesses function. It already has. It’s things like, workers advocating for shorter work weeks because of new technology, that’s the real eye opener. There isn’t an aspect of business that technology does not touch now and it’s only a matter of time before our businesses and industries all look a little more like the major tech brands of th