Italian Tech Week 2024: Innovation in Turin
Italian Tech Week 2024 revealed how technology is reshaping industries worldwide. Here’s what we learned at this year’s event in Turin.
Italian Tech Week 2024 revealed how technology is reshaping industries worldwide. Here’s what we learned at this year’s event in Turin.
In today’s IT Minute we’re talking about how IT solutions can help companies be more sustainable. This can be done in a number of ways, including:
Virtualization and cloud computing: Virtualization and cloud computing can help companies reduce their physical infrastructure footprint, which can lead to significant energy savings and lower greenhouse gas emissions.
Energy-efficient hardware: IT services can help companies select and deploy energy-efficient hardware, such as servers, storage devices, and network equipment. This can help to reduce energy consumption and lower utility costs.
Data center optimization: IT services can help companies optimize their data centers by improving cooling efficiency, consolidating servers, and implementing advanced power management techniques. This can lead to significant energy savings and reduced waste.
Remote work and collaboration: IT services can enable and support remote work and collaboration tools, such as video conferencing platforms and document sharing solutions. This can help to reduce the need for business travel, which can lead to lower greenhouse gas emissions.
Paperless initiatives: IT services can help companies implement paperless workflows and document management systems. This can help to reduce paper consumption and waste generation.
Energy monitoring and management: IT services can implement energy monitoring systems to track and manage energy consumption within a company’s IT infrastructure. This can provide better visibility into energy usage patterns, enabling optimization and the identification of energy-saving opportunities.
Sustainable software development: IT services can adopt sustainable software development practices, such as efficient code optimization and the use of renewable energy to power data centers. This can help to reduce the environmental impact of software development and operation.
In addition to these specific areas, IT services can also help companies to improve their sustainability performance in a more general sense. For example, IT services can help companies to develop and implement sustainability strategies, measure their progress towards sustainability goals, and communicate their sustainability performance to stakeholders.
Here are some specific examples of how IT services have helped companies to improve their sustainability:
A short reminder of how can IT services and solutions help companies stay competitive:
By integrating these IT services and solutions, companies can position themselves ahead of their competitors, be more adaptive to changes, and ultimately provide better value to their stakeholders. How competitive are you? How many items do you check from the list above?
Ensuring technology tools are secure is paramount to the integrity and success of a business. Here are steps companies can take to bolster security:
Today, IT infrastructure is essential for any organisation, regardless of size or industry. This includes all the hardware and software resources needed to operate the systems and applications. In this context, IT infrastructure management is a complex task that requires a strategic and integrated approach.
To make effective choices in this area, it is crucial to have a solid understanding of the decision-making process. This is where Annie Duke’s book “How to Decide” comes in, a book that provides valuable tools for improving decision-making processes. The book takes a practical approach to decision making, with Duke arguing that in order to make good decisions it is important to understand the following factors:
These processes are based on the concept of ‘decision under uncertainty’. In an ever-changing environment, it is impossible to consider all the factors that can influence a decision. It is therefore important to make decisions based on available information and possible scenarioseven the ones that have the slightest chance of happening.
Here are some examples of how the principles can be applied:
By following these principles, organisations can improve the efficiency and security of their IT infrastructure. This will help protect data and IT systems, ensure business continuity and reduce costs.
Data centre solutions plays an important role in IT infrastructure management. These are data centres that house servers, networks and other IT equipment. Data centres offer a number of advantages, including:
At the same time, Duke stresses the importance of cost-benefit analysis in any decision. Thus, in choosing a data centre, we should evaluate not only the upfront costs, but also the long-term costs, the performance and security benefits, and the flexibility of the solution to future changes.
Cybersecurity is a major concern for all organisations. Cyber attacks can have a significant impact on your business, including loss of data, disruption to operations and financial costs.
As technology evolves, so do cyber threats. From ransomware attacks to security breaches, organisations need to be prepared to respond and prevent them. Cybersecurity decisions are sometimes complex, involving resource allocation, risk assessment and the adoption of policies and procedures.
Duke argues that many of our decisions are affected by cognitive biases. In cybersecurity, it is essential to eliminate these biases. Decisions should be based on hard data and rigorous analysis, not excessive fear.
Some practical tips for implementing these principles:
By implementing these principles and tips, organisations can reduce the risk of cyber attacks and protect data and IT systems.
“How to Decide in the IT Context
One of the main messages of the book is the importance of having a well-defined decision-making process. Whether choosing a data centre solution or implementing a security strategy, a clear and rational decision-making framework can guide us.
Duke offers tools such as probability assessment, scenario analysis and decision review to learn from mistakes. These tools are just as applicable in IT, helping managers and teams make informed and informed choices.
IT infrastructure is the backbone of any organisation. From networks and servers, to storage solutions and applications, all require proper management. Data centre solutions allow centralisation of IT resources, providing efficiency, scalability and security.
IT infrastructure management is a broad field, and decisions made can have far-reaching consequences for an organisation. Annie Duke’s book, How to Decide, gives us a framework for approaching these decisions with clarity and confidence. By adopting a robust decision-making process, organisations can be confident that their IT infrastructure is both efficient and secure.
Black Friday has undoubtedly become one of the most anticipated and explosive shopping events in the shopping calendar. It’s the day when companies have a unique chance to attract customers and record sales. However, to turn this opportunity into success, it is essential to be technologically prepared. So, in this article, we explore how you can prepare your IT infrastructure and cybersecurity to ensure that Black Friday turns into a record sales day, not a “black Friday” for your business.
Here are some tips:
Analyse Current Resources:
The first step in preparing for Black Friday is a careful analysis of your existing IT infrastructure. Make sure you have enough processing capacity, storage and bandwidth to cope with the surge in traffic. To this end, perform load tests to assess the current limitations of your infrastructure. is essential. It’s also important to identify any weaknesses that could lead to problems on the big day.
Scalability and Redundancy:
To ensure you are prepared for any traffic volume, plan for an increase in resource capacity. Invest in data-center solutions that allow easy scalability so you can quickly add additional resources when needed. Also make sure there is an adequate degree of redundancy to avoid disruption in the event of hardware problems or possible cyber attacks.
Protect yourself from Cyber Threats:
Black Friday not only attracts the attention of shoppers, but also cybercriminals. They are looking to take advantage of increased traffic to launch attacks. To strengthen your cyber security, consider the following:
Data Backup and Recovery:
A well-developed data backup and recovery plan is essential. Back up your data regularly and make sure it is stored in a safe place so that you can quickly recover data in the event of a cyber incident or hardware failure. An effective data recovery plan will help you get back online quickly and minimise any negative impact.
Testing and Anticipation:
To be prepared on Black Friday, carry out thorough tests beforehand. Simulate traffic growth and perform stress tests to ensure your IT infrastructure and cyber security are ready to handle any scenario. Anticipate potential failure points and develop action plans to manage them quickly and effectively.
Fast communication and decision-making:
As Black Friday approaches, ensure effective communication between IT, security and management teams. Monitor in real time for any signs of trouble and be prepared to react quickly to minimise any negative impact on the business.
Black Friday is an unprecedented opportunity to boost sales and strengthen your business reputation. With the right IT infrastructure and cybersecurity preparation, you can turn Black Friday into a record sales day. Therefore, by focusing on IT infrastructure management, data-center solutions and robust security measures, you can ensure that Black Friday is not a “black Friday” for your business, but an opportunity for growth and success.
Black Friday, known for its fabulous deals and shopping frenzy, has interesting origins. The term “Black Friday” was not originally linked to shopping, but to an economic crisis in 1869, when gold prices fell dramatically in the US.
In the 1950s or ’60s in Philadelphia, “Black Friday” began to describe the traffic chaos and crowding in stores on the Friday after Thanksgiving. Merchants tried to change the perception of the term and it seems they succeeded quite resoundingly. .
Black Friday has become a global shopping tradition, but how did this event come to influence the Romanian market? The history of Black Friday in our country has its roots stretching back over many years and has evolved significantly.
The first signs of Black Friday in Romania appeared around 2011, when a few online stores tried to import this tradition from the US. However, at the time, the concept was relatively unknown and did not gain significant traction. Over time, Black Friday has started to gain more notoriety and be adopted by an increasing number of shops and retailers. Attractive offers and substantial discounts attracted the attention of more and more consumers, leading to a significant increase in sales on the day. One of the key factors in the popularisation of Black Friday in Romania has been the expansion of online shopping.
This concept, in Romania, has travelled a fascinating path, transforming from an almost unknown event to a pillar of the shopping market. According to a report by market research company GfK Romania, Black Friday 2022 saw a remarkable 15% increase in sales compared to the previous year, reaching a total of €1.2 billion.
This economic boom has been fuelled mainly by the growing popularity of online shopping in Romania, which has seen an impressive 25% increase to €500 million. However, physical stores were not excluded from this growth, recording an increase of 10% with sales of €700 million. This trend has been supported by an increasing number of consumers choosing to go into stores to take advantage of Black Friday deals.
The most popular product categories were household appliances, accounting for 22% of total sales, followed by mobile phones and accessories at 17%, fashion and footwear at 15%, IT and software at 12%, and home and garden products at 10%.
In terms of brands, Samsung led the ranking with 12% of total sales, followed by Apple with 10%, Decathlon with 8%, eMAG with 7%, and H&M with 6%.
Black Friday in Romania is not only a shopping day, but also a significant economic phenomenon. This event generated a substantial increase in sales and became a turning point for retailers and consumers alike. With attractive offers and efficient technology management, Black Friday is eagerly awaited every year to mark a notable economic success.
Procedures, Standards, Automation, Linear Processes – this terminology essentially defines the field of IT and suggests, no more and no less, an image of rigidity, mathematics, logic and rationality. But aren’t these attributes also present in other aspects of our lives?
The answer is a complex one, but it leads to a clear NO. Scientific research shows that our decisions are deeply influenced by our emotions, but we prefer to believe that we are highly rational. However, this article will not focus on that discussion, but aims to put a practical and positive spin on these IT ‘rigidities’.
In the following, we will use the term “Atomic Habits”, inspired by James Clear’s book of the same name, to illustrate how they define personality at the individual level, but also at the company level.
One habit is the notion of prevention, a concept we also apply to the IT services we offer. James Clear tells us in his book that small habits can have a significant impact on our lives. This philosophy can be successfully applied in the world of information technology, especially in terms of IT infrastructure management and cyber security. The bottom line is that in order to create sustainable habits, it is important to focus on small, incremental progress rather than trying radical changes that are likely to fail.
Here are some concrete examples:
Automation: The atomic approach to IT management involves automating repetitive tasks such as software updates or managing backups. Automation reduces human error and increases efficiency.
Continuous monitoring and analysis: Similar to the concepts in “Atomic Habits,” constant monitoring of IT infrastructure performance helps identify SMALL problems before they become BIG ones. An early warning system can prevent major malfunctions.
Culture of continuous improvement: Promoting a culture of continuous improvement in your organisation is similar to promoting good habits. This may involve regular feedback, post-event reviews and adaptability to technological change.
To maintain data integrity and protect against cyber threats, we can adopt the following habits:
Strong passwords and two-step authentication: Small changes, such as using strong passwords and enabling two-step authentication, can make all the difference in protecting your data.
Regular software updates and patches: Just as we develop healthy habits to maintain our health, regular software updates and patches keep our systems secure against cyber threats.
Security education and awareness: As in “Atomic Habits,” regular security education and awareness can form a habit of avoiding online pitfalls and threats.
How do we, LifeinCloud, ensure that these principles become second nature to any customer?
The “Make it easy” principle: To create a new habit, it’s important to make it as easy as possible. We have invested in automating some tasks with easy-to-use solutions.
The “Make it like it” principle: By automating, we increase efficiency and save time, which we use for both educational and fun purposes.
The “Make it visible” principle: To be more motivated to follow a habit, it is important to make it visible. We create dashboards and reports that help us monitor the functionality and security of an IT system, and our customers receive real-time information.
The “Make it social” principle: We take pride in our results and are not modest with our achievements, and our customers support us.
IT infrastructure management requires constant and consistent approaches, similar to the principles in “Atomic Habits.” Small changes, applied systematically, can lead to significant increases in the efficiency and security of IT systems. In this way, we can ensure a healthier and safer digital working environment for both organisations and users.
Based on Patrick Bet-David’s book, Your Next Five Moves, in which obvious analogies between chess and business strategies are presented, we have made a bridge to the IT field in the form of a description of a “strategic parties” between Infrastructure, Data-Center and Cybersecurity, where every decision and “piece” counts, with the winner being the end customer. In this context, we can draw inspiration from the world of chess to develop effective tactics and strategies for managing technology.
I don’t know how many of us have the ability of Elon Musk, a ferocious chess player, to think 12 moves ahead, averaging 5, while a grandmaster does it with 15. But I hope that by describing the main strategies we will develop our ability to anticipate rather than improvise.
Planning and Anticipation:
Just like in chess, where every move is carefully calculated, in IT infrastructure management, planning is the key to success. Anticipating future needs and potential threats is essential. In a well-managed data centre, each component and resource is strategically placed, like chess pieces occupy key positions on the board. In the most practical terms, it translates into the redundancy, security, flexibility and scalability offered by a cloud architecture, not a standalone one, and the ability to deal with multiple business scenarios.
Effective execution of strategies:
Chess teaches us that it’s not enough just to have a strategy, but also to execute it effectively. In IT management, implementing data-center solutions and cybersecurity measures requires precise execution. Like a well-placed chess move, each IT component must work in harmony to achieve the goals set, forming an IT ecosystem.
We are talking about the introduction of the function of “project manager” into the execution process. Moreover, sometimes you need to sacrifice to win, which may mean giving up the technologies or people that hold you back
Efficient resource management:
Chess teaches us to manage resources and distribute them strategically on the board. Similarly, in a data centre, resources such as storage capacity and processing power need to be allocated wisely to meet current requirements and anticipate future growth. A wrong choice can be tantamount to a poor move in chess, exposing potential vulnerabilities.
In the most practical terms we could translate it as follows – “don’t limit yourself to immediate needs, think ahead, this approach is the difference between survival and evolution”.
Cybersecurity: A match against invisible adversaries.
Chess is often compared to a fight against a clever opponent. In the world of cybersecurity, adversaries are at least as smart but also invisible. Like a chess master, cybersecurity teams must anticipate the moves of adversaries and place “pieces” (security solutions) in strategic locations to protect IT infrastructure.
In short, we can translate it as follows – “leave your ego aside and confirm your decisions through recurrent audits conducted on an outsourced basis”.
Adaptability to change:
In a game of chess, players have to adapt to their opponent’s moves. Similarly, in managing IT infrastructure, we need to be flexible and adapt to technological changes, new cyber threats and especially business evolution. The ability to make quick adjustments in implementing data-center and cybersecurity solutions can make all the difference in such a dynamic digital world.
Here are some specific strategies that can be used based on the chess analogy:
Controlling the centre:In chess, controlling the centre is essential to winning. In IT infrastructure management, this can be equated with control over critical data and systems. Effective control can be achieved through security measures, and easy access and processing of data through the framework in which it is hosted, preferably in a data-center environment, in a cloud architecture such as communicating vessels
Mobility: In chess, moving pieces are stronger than immobile ones. In IT infrastructure management, this can be equated with the ability to adapt quickly to changes in the IT environment. The fixed parts are the internal equipment, while a cloud system is the mobile equipment.
Challenging the other side: In chess, players must challenge their opponent to create opportunities to win. In IT infrastructure management, this can be equated with identifying and eliminating vulnerabilities in the infrastructure. Don’t declare that you are infallible, it is quite possible that someone will prove you wrong. Rather make a habit of learning and testing your knowledge.
IT can benefit significantly from a strategic approach to chess. In every move and every decision, we can see an opportunity to build and protect. Inspired by chess strategies, we can bring a dose of strategic computing to technology management, ensuring a solid and predictable game in the dynamic world of IT.
In the modern business world, protecting data and customers is no longer an option, but a necessity in the true sense of the word. In this article, we give you the lowdown on the importance of cybersecurity, why it’s beneficial to turn to the experts in the field for your business, and the main benefits of using Firewall as a Service (FWaaS).
Content:
What is cyber security and why is it vital for business?
Cyber security is a concept that refers to the protection of information systems and data against cyber threats. This involves implementing practices, technologies and processes that aim to protect networks, devices, software and data from attack, damage or unauthorised access.
For business, cyber security is vital in today’s digital age. Most companies rely on technology and collect large amounts of data, including sensitive company and customer information. In this context, cybersecurity is fundamental to protecting this information and preventing negative consequences.
Neglecting cyber security can have serious consequences for business. Companies that don’t prioritise this become easy targets for cyber attacks. They can be exposed to ransomware attacks, data theft, service interruptions and many other types of cyber threats.
Why call in cyber security specialists?
Here are some of the most important reasons why it’s beneficial to use our cyber security services:
The diversity and constant evolution of cyber threats
Cyber threats are extremely diverse and evolving at a rapid pace. From viruses and malware to phishing and ransomware attacks, there is a wide range of threats that businesses face online. These threats are constantly evolving to exploit new vulnerabilities, making it difficult to protect against them without the help of cyber security services.
Complexity of IT systems and networks
IT systems and business networks can be extremely complex, with multiple access points and interconnections. Monitoring and protecting these systems and networks can be extremely difficult for staff inexperienced in cybersecurity. Our cybersecurity specialists have the experience and knowledge to understand this complexity and implement effective security measures tailored to the specifics of your business.
The need for rapid response to security incidents
In the event of a cybersecurity incident, response time is crucial to minimise damage. Cybersecurity specialists are trained to respond quickly and effectively, limiting the impact of the incident.
The role of cyber security consultancy
Cybersecurity consulting plays a key role in protecting businesses. Our specialists can perform risk assessments and identify vulnerabilities in your business IT infrastructure. They can also develop a customised cyber security plan.
Benefits of using Firewall as a Service (FWaaS)
Firewall as a Service (FWaaS) is a cybersecurity service that protects a business’s data by monitoring and controlling network traffic. This service acts as a guardian of the data flow, allowing or blocking certain types of traffic according to predefined settings. FWaaS is a cloud solution that can be implemented and managed by our specialists and is part of the integrated IT management services we offer.
FWaaS includes key data security features such as web filtering, which blocks access to unsafe or malicious websites, advanced threat protection (ATP), which identifies and blocks new and sophisticated threats, intrusion prevention system (IPS), which detects and prevents unauthorised network access attempts, and domain name system (DNS) security, which protects against attacks targeting DNS infrastructure.
The benefits of using the FWaaS service are multiple. Here are some of the most important ones:
It offers enhanced protection against cyber threats with advanced attack detection and blocking capabilities. Also, using a FWaaS service allows security management to be outsourced, which can lead to reduced costs for the business as there is no need to purchase and maintain physical firewall equipment.
The service can be tailored to the needs and size of the business, and can be expanded or reduced depending on the requirements of traffic dynamics. At the same time, using the FWaaS service provides access to the latest security technologies, as it is constantly updated by the service provider.
For more details on how we can help you in your business, please visit our contact section.
Backing up data is not just a precautionary measure, but a necessity in today’s digital world. Data is valuable and vulnerable at the same time.
By backing up regularly and following proper security procedures, organisations can ensure the protection and availability of information from threats of all kinds.
Content:
What is a data backup?
Data backup refers to the process of copying important information and files in order to recover them in case of loss of original data. This can be done on various storage environments, for example in the cloud. By performing a database backup, a backup copy of the data is created, which can be used in emergency situations.
Backup is a guarantee that in the event of a system failure, cyber attack or natural disaster, valuable data can be recovered and business can continue without interruption. A correct and regularly updated backup can save a company from significant losses, but also prevent the loss of valuable personal data.
To perform an effective data backup, it is advisable to call in specialists in the field. We offer advice and solutions tailored to the needs of each individual or organisation. We can also ensure proper implementation and effective management of data backup, reducing the risk of data loss.
What is the role of a data backup in protecting information?
The role of a data backup in protecting information is fundamental to ensuring the continuity and security of a business or organisation. Here’s what it’s mainly about:
A data backup is essential to prevent the loss of information in unexpected situations such as hardware failure,
cyber attacks human error or disaster. By creating a data backup, the company can avoid the devastating consequences of data loss, such as loss of critical information, business interruption and significant financial impact.
Data backup enables fast and efficient recovery of lost or corrupted information. This is essential to eliminate downtime and ensure business continuity. By restoring data from a backup, your organisation can quickly return to its previous state and avoid losses.
Data backup plays a vital role in protecting information against cyber attacks, including ransomware. By keeping a backup copy of data in a secure and isolated location, the organisation can avoid total loss of information in the event that the main system is compromised. This provides additional security against increasingly sophisticated cyber threats.
Regulatory compliance
In some sectors, such as health or finance, there are strict regulations on data management and retention. Data backup helps organisations comply with these regulations by ensuring that information can be retrieved at any time and that there is a proper record of it. This helps to avoid legal sanctions and maintain the trust of customers and business partners.
What are the risks to data without backup?
Without a proper backup, data can be exposed to numerous risks, which can have serious consequences for a business or organisation. Here are some of them:
Lack of backup can lead to permanent data loss in situations such as hardware failure, cyber attacks or natural disasters such as fires or floods. This can have a significant impact on the business, especially if the lost data is necessary for the day-to-day running of the business.
If lost data is vital to a business’s operation, it may have to temporarily shut down until the data is recovered or the information is regenerated. This can lead to significant financial losses and damage the confidence of customers and business partners. All these issues can be avoided by regularly backing up data.
Many organisations are required by law or specific regulations to keep certain types of data for a certain period of time. If this data is lost and cannot be recovered, the organisation may be subject to significant fines or penalties.
To avoid these risks, it is essential to implement and maintain a proper data backup strategy. This should include regular creation of data backups, use of secure and redundant storage systems, and regular testing of the backup process to ensure that data can be successfully recovered if needed.
HyperCubic provides you with integrated IT management services and solutions , including data backup. For details, please visit our contact section.
In the digital age we live in, technology is all around us and impacts almost every aspect of our lives. From the smartphone we use every day, to artificial intelligence changing entire industries, technological progress is inevitable and increasingly weighs on strategic decision making, at a personal and especially business level.
But is this progress beneficial to the human condition and to the society in which we live?
Progress: the benefits of technology
There is no doubt that technology has brought countless benefits. Almost any information is now just a click away, thanks to the internet. Communicating at a distance in a globalised world has become easier and more efficient. Moreover, technology has opened doors to greater social inclusion. People with disabilities, for example, benefit from tools that make their lives easier and allow them to better integrate into society. And the examples certainly don’t stop there.
But what are the main, undeniable advantages of technological progress?
Increased efficiency is certainly the first that comes to mind. Technology can automate processes and tasks, leading to increased efficiency in many areas, from manufacturing and business to healthcare and education. As he said, technology has made global communication more accessible and faster. People can easily interact with others around the world via the internet and mobile devices, and access to information is constantly improving learning and informed decision-making.
Beyond all that, technology is driving innovation and development in many areas, including medicine, energy, transport and many others. And all of this converges into time savings and elimination of repetitive tasks.
Regress: The dark side of technology
However, we cannot ignore the negative impact that technology can have on us. Reliance on technology and social networking, for example, is a growing problem, while automation and artificial intelligence threaten the stability of jobs in certain specialisations. On top of this, technology has also had an impact on human relationships. Face-to-face communication is becoming increasingly rare, replaced by virtual interactions.
The loss of privacy poses more and more challenges. With all the benefits that connectivity brings, it also comes with the risk of privacy breaches. Technology can be vulnerable to cyber attacks, which can put personal data and information at risk.
People can become addicted to technology, which can lead to health problems such as eye conditions or psychological problems. What’s more, research suggests that young people spend an average of 7 hours a day in front of screens, which is not good for the long term. Social isolation also comes into play as the overuse of technology can lead to a decline in the quality of human relationships.
“The ‘information bubble’ is another aspect that is attracting increasing attention. Algorithms in social platforms often only present us with information that confirms our pre-existing beliefs, amplifying divisions and misunderstanding of complex realities.
The environmental effects are not negligible either. The production and disposal of e-waste has a negative impact on the environment. Last but not least, we are witnessing a rising tide of technological unemployment. Automation is gradually leading to job losses in some industries as machines and robots take over human tasks.
The future: the balance between progress and regression
Balancing the advantages and disadvantages of technology can be a challenge, as each person and situation may have different needs and priorities. The solution is not to reject technology, but to use it responsibly for the good of humanity.
Education and information are key. We should learn to use technology in a way that improves our lives without alienating or harming us.
In conclusion, technology can be both a blessing and a curse. There are, however, a few strategies to achieve a healthy balance, starting with awareness, prioritisation and evaluation of the intrusion of technology into everyday life.
Here are a few more ideas that show the blessing of technology:
In the book Why Nations Fail: The Origins of Power, Prosperity and Poverty”, written by Daron Acemoglu and James Robinson, explores why some nations prosper while others remain in poverty, and it all starts from 2 categories of “institutions” – inclusive and extractive, the formation of which depends overwhelmingly on how technology is used.
The authors argue that inclusive institutions facilitate innovation, economic growth and development, while extractive institutions inhibit these processes and perpetuate poverty and inequality.
Inclusive institutions are characterised by openness and participation, where power and resources are relatively equitably distributed in society. These institutions create an enabling environment for innovation, individual initiative and sustainable economic development. On the other hand, extractive institutions are characterised by the concentration of power and resources in the hands of a small elite. They systematically exploit society and limit opportunities for most people, leading to poverty and economic stagnation.
But regardless of the approach, it is important to note that technology can significantly influence the direction a society takes in various ways.
If we look at a much smaller scale, at a limited ecosystem such as a company, we have to be aware that the same principles apply. How you manage and consume technology is critical to the long-term health and growth of your organisation.
From the way you facilitate access to information for educational or procedural purposes to the implementation of IT services or solutions that ensure data security, not employee monitoring and control, with the goals of functionality and productivity, all of these aspects define what kind of company you are or will become, what employees or customers you attract.
For example, if you want adaptability, scalability and the latest technology, opt for data-center IT solutions on a subscription basis rather than a one-off purchase, eliminating constraints and the perception of “out of data”.
And if the way you plan for the future of the company you run involves caring about employees and focusing on sustainable business development, you need to consider building an IT ecosystem where employees feel protected, included and where communication is easy.
Want to protect your identity? Think in terms of prevention and ensure business continuity by being able to restore your critical data.The sense of ownership is as present as it gets in on-premises acquisition decisions, but it hides a few pitfalls on which your company’s growth depends. One is that the allocated budget is perceived as a cost, not an investment, attracting maintenance costs. Another pitfall is that of being trapped in a “sedentary” technology.
In conclusion, technology is a powerful force that can change the direction of a society, a company, an individual in a variety of ways. It brings with it both significant opportunities and complex challenges. The benefits of technology can include economic growth, innovation, improved quality of life and global connectivity. However, it is essential to manage and regulate technology responsibly to minimise the downside.
Ultimately, technology is just a tool and it is up to us as a society, individuals, managers, employees to decide how we use it to shape the world we live in.