2022 Top Data and Technology Trends and Predictions

The world of data and technology is rapidly growing. Data-driven technologies are shaping behaviours, the way we interact and work. Due to the COVID-19 pandemic, across the world, the shift toward the adoption of technologies and data creation has grown tremendously. 

But 2022 can be a unique year in the data and technology space across industries, institutions and governments. The realities confronting businesses across the world cannot be ignored. We know change is inevitable; it is the only constant thing. This is going to be reflected in what the data and technology trends and predictions will be. 

Below are my personal curated top data and technology trends and predictions. They should be used only as a guide, and I would advise anyone to seek business and legal advice accordingly. 

Trend 1. Security 

This is going to be a key risk for governments, institutions and industries. This issue ranges from the rise of ransom-ware attacks, development, security operations and various evolutions of threat intelligence attacking the data and technology, which are critical assets. 

Data and cyber security is not just about managing risk, it’s also a strategic and tactical issue that shapes any industries, institutions and governments. 

Many organizations still find it challenging to effectively and efficiently embed a robust security framework and consideration in their products and services. 

A key capability of any organization is to manage and minimise risk to maintain their competitive advantage. In order for this to be achieved, utilizing a risk register is fundamental.

A mature risk register must have data and cyber security as a key component and a risk based approach. It is important to have good visibility of data and cyber security monitor reporting to be able to manage or minimize the inherent and emerging risk to operations and critical assets.

Trend 2. Environmental, Social and Governance (ESG)

ESG is a core strategic priority for governments, institutions and industries across the world, both in developed and emerging economies. The agreement reached by nearly 200 countries called the “Glasgow Climate Pact” to keep 1.5C alive, will only be achieved with extensive collaboration across industries, institutions and governments across the globe.

Experts have expressed concerns about the application of ESG standards. In 2022, data standards and reporting will be a key ESG focus area. Yes, it is true other key stakeholders, such as the B Corporation, are actively working and developing tools, strategies for measuring standards to address this challenge to help industries, institutions and governments. 

However, this will require the right investment to resource and build the right capabilities in organizations — data, people, process and technology. 

The data and technology teams will need to collaborate with various strategic partners to define and agree on the data standards and reporting. These activities would drive some strategic and tactical commitment from the data and technology team to achieve this. A great article to read about this, is by Dambisa Moyo's10 ESG Questions Companies Need to Answer.

Trend 3. Chief Data Officer (CDO)

No doubt, the consensus is that there is going to be continuous expansion of the CDO. The Chief Data Officer (CDO) roles and responsibilities are often misunderstood despite the high demand for strong data leadership. Across FTSE 100, 250, 350, Fortune 500, etc., large and medium-size companies will create some form of CDO role. 

The issue of talent shortage is a key concern and it will take some time for the gap to close. This is going to cause some challenges. As a result, CDOs would have to do more with fewer resources. 

In the CDO space, diversity and inclusion need to be key considerations. The Diversity and Inclusion spectrums, such as ethnicity, women, social mobility, skillset, etc., need to be confronted and addressed, as they are critical in ensuring the plumbing of the talent and succession pipelines is working effectively and efficiently across industries and sectors.

Trend 4. Ethics

This subject matter is not going away soon. Data ethics is going to be a key focus for both the public and private sectors. Government, institutions and industries should pay attention. 

Ethics are the rules that define our moral conduct. They are codified processes that help us determine what is right or what is wrong. 

Data Ethics includes the moral obligations across the data lifecycle and how these affect individuals. 

The ethics goalpost is changing on what’s right or wrong in today’s environment, whilst ethics guidelines fall into four basic categories — do good; minimize harm; respect human autonomy; and be just or fair. 

There’s going to be testing of hard ethics, possibly in the UK,  EU or US courts. However, some developers, disruptors and innovators will continue to explore the soft ethics paradigm. 

Industries, institutions and governments will keep making attempts to build user trust in future systems. The fairness, awareness, and transparency (FAT) framework is still going to be a huge one all through 2022 and beyond. 

Trend 5. Internet of Things (IoT) 

Some commentators believe there is going to be an IoT increase in 2022. However, the prediction is, there is going to be a decline of IoT hardware for several reasons due to data privacy, security and interoperability concerns by users.

Yes, it is true AI and ML would advance rapidly — consumers are now savvy about their devices of choice in the marketplace. This is going to pose a serious competition for technology companies developing IoT hardware. 

Trend 6. Trust 

Rethinking trust is something senior leaders and the general public will need to understand and reconsider. This is applicable to data trust —how the general public can trust technology companies and platforms, institutions and governments with their data.

Due to the amount of data created and consumed each day and the increase of data literacy, questions will be asked by data creators, consumers etc. about data trust. I highly recommend  Rachel Botsman’s book, Who Can You Trust?

Trend 7. Data Quality 

Data Quality is one of the bedrocks for data management. Data Quality issues are not going anywhere soon. The impact of poor data quality on critical data is huge. 

Unfortunately, data incidents and breaches will happen in governments, institutions and industries where the data quality is going to be a key component in the resolution.

Senior leaders and various stakeholders must pay attention to data quality management capabilities and make the investments required to embed and implement the right Data Quality framework, resources and technology. 

Trend 8. Data Governance 

Rethinking Data Governance is important to demystify Data Management. The Chief Data Officer and Data Governance practitioners must streamline and design value-add methodologies and provide effective and efficient oversight, control, responsibilities, and framework across governments, institutions and industries. 

Trend 9. Data Management As A Strategic Priority 

There is going to be an increase of data management and technology components as key strategic priorities for governments, institutions, and industries. 

The need to have real-time analytical and business insights and intelligence is growing rapidly, with data and technology critical in the plumbing and delivery of these from the floor to the boardroom. 

No doubt competitive advantage will be driven by efficiency and efficient data management value, delivery and practises. As a result, listed companies' annual reports call out data management as a strategic priority and feature to unlock vision, mission and strategy. 

Trend 10. Diversity Equity and Inclusion (DE&I)

Diversity, Equity and Inclusion matters, and it is a topical issue across industries, institutions and governments in developed and emerging countries. DEI is more than the moral or right thing to do and is not restricted to only the data and technology spaces. 

The challenge of closing the dealing with the challenges of DEI is to ensure the spaces are created for minority communities to be active participants and contributors. 

In order to close the gap, minority communities and women need to be active participants and contributors, because without them, the cake is half baked! Resource and talent gaps and other challenges are confronting the technology and data space. Rethinking diversity and inclusion will provide workable and practical solutions to overcome these challenges. 

Trend 11. Cloud 

There is going to be continuous cloud investment across governments, institutions and industries. Cloud strategy and investment will enable and leverage the technology solutions available, both currently and in the future, across the data and technology enterprise. Cloud technologies will allow more data-driven applications, with the architectures providing scalability, agility and adaptability in a rapidly changing digital landscape. 

Internet connectivity, digitalization, and more people around the world coming online and using the internet 

are contributors to the cloud value propositions. The 5G mobile network connection will support and drive this because of the exponential mobile devices growth. 

Trend 12. Collaboration 

Collaboration is mandatory. The collaboration approach with cross verticals, domains, industries, and sectors will increase. The need to leverage internal and external expertise will be critical in the delivery of data and technology projects. 

The viable option to deal with the pandemic recovery for governments, institutions and industries is simply to be able to collaborate in a deeper way to achieve any form of swift recovery. This is the new way of working (hybrid), and we are going to see more of it in 2022 and beyond.

Abel Aboh is a Data Management Lead at the Bank of England and a UK Data Leader 2021 Finalist. 

Connect with him: 

LinkedIn https://www.linkedin.com/in/abelaboh/ 

Twitter: https://twitter.com/abel_DMChampion