Between pandemic recovery and economic uncertainty, it is a challenging time for a lot of businesses in both Ireland and further afield. However, during times like these, opportunities are rife and it can prove fruitful for identifying new growth areas. As companies aim to prioritise growth, IT spend also looks set to rise in 2023. In fact, Gartner has forecast worldwide IT spending to grow 5.1% in 2023.

Of course, organisations will want to ensure they are being smart with their budgets and investing in the right technologies that will benefit their entire organisation and support the specific needs of the business. This involves thorough assessment, careful planning and effective implementation of IT systems and solutions.

In turn, this will help to support service delivery for customers, boost operational efficiency for employees, and enable business opportunities for the company as a whole – elements which are never more important than during times of change.

Driving digitalisation

With widespread remote working and mounting budgetary pressure, businesses should aim to minimise costs and maximise productivity through digitisation. For some, such as financial services, this means streamlining operations, digitising internal processes and moving to the cloud. For others, like retail, it means going beyond bricks and mortar to enable online shopping.

As well as aiding customers, digitalisation – through the introduction of the cloud and the implementation of collaboration tools – also has benefits for the employee experience in terms of engagement, efficiency and efficacy. By working smarter, people are likely to be more motivated and also more productive. In turn, this benefits colleagues, customers and stakeholders.

Whatever the technologies, organisations cannot afford to sit on their hands any longer. By regarding technology as a productivity and growth enabler, the digitalisation of services can both stabilise and support organisations during both recovery and recessionary times.

Streamlining operations

Companies must not overlook their day-to-day in times of change and will want to keep the lights on, maintain operations and uphold service delivery. That means focusing on the basics, channelling what investment is available on IT foundations and prioritising infrastructure projects if necessary. Even though these are core systems, adopting the right approach remains crucial.

For example, if an organisation decides to adopt more cloud services such as production ready cloud, it’s imperative they identify and run the right workloads in the right environment. Furthermore, it must be secured adequately, while simultaneously supporting accessibility and enabling connectivity for users.

Furthermore, while customers inevitably want more choice and it’s likely that we’ll see the development of additional industry cloud propositions, organisations need to ensure they are consuming technology which is relevant to their industry and not just taking a broad-brush approach.

Achieving resilience

Businesses desire intelligent knowledge which is pertinent to them and while innovation may not be the priority for 2023, being able to adapt to the evolving landscape and marketplace in itself is innovative and a sign of resilience.

The pandemic taught businesses many lessons, including the importance of maintaining daily operations and embracing change. This remains true in economically challenging times and times where skills are in short supply. Enabling and empowering people with the right technologies can be a determining factor in attracting and retaining the best talent, which can set your organisation apart.

By driving digitalisation and streamlining operations, companies can create an agile but reliable IT infrastructure and strengthen their position for both today and the future – whatever that may hold. It will come down to adapting on a daily or weekly basis, planning for the months ahead, and investing in technologies which w...

I rarely watch the news, or pay attention to tabloid newspapers, I much prefer non-fiction, so I was saddened to learn of the passing of Lord David Young (aka David Young, Baron Young of Graffham) in December.

Firstly, I just wanted to express my sincere condolences to his wife Lita and their daughters Judith and Karen on their loss, of a Husband and Father.

Secondly, I just wanted to share some words about Lord David Young, as he was a mentor of mine over the past decade.

Before 2015, I had never really had a formal mentor, beyond working alongside and learning from talented people. I had arrived at a crossroads in my career, my life and I decided to proactively find mentors, who I could learn from.

I was privileged that several highly successful people made time for me. All of them I’m still in regular touch with and I frequently meet up with them to this day. One of those mentors was Lord David Young. I’m sure it will be quite surprising for many who know me, that a person who was previously a key member of Margaret Thatcher’s government during the height of the troubles, would be someone that I would even know, let alone receive mentorship from.

I don’t believe in, or participate in the broken illusion of choice we call politics, whilst also being from Co.Derry and standing strongly against all of the evil acts which took place during the troubles (including those carried out indirectly and directly by the British government) So for sure, Lord Young and I were in many ways chalk and cheese.

That being said, I truly believe that it’s important to proactively step outside of bubbles, echo chambers of our personal, professional and social networks, to interact with, or ideally get to know people from all backgrounds and with different world-views. That’s how respect and understanding are built and often you’ll find interactions like those are hugely rewarding and symbiotic.

For me, I’m privileged and proud to have cultivated a wide circle, from all walks of life and stretching around the entire planet. So Lord Young wasn’t alone in the eclectic aspects and randomness of my circles.

I vividly remember my first conversation with Lord Young, or as I used to refer to him, David (I told him that unless he called me King Henry, I wouldn’t call him Lord, which made him laugh) It was in the weeks after my son’s funeral and I had thrown myself into work, but having previously been part of the team that built the tech unicorn Just Eat, I had a burning desire to go again and build something special and this time much more meaningful to society. (My entrepreneurial itch, wasn’t fulfilled or satisfied by being an operator, although I embraced the value of operator experience, as I knew I had much to learn).

I had several ideas for products to make the devastating experience of grief easier for those who had lost someone to manage, due to experiencing various inefficiencies and problems myself. When I spoke with David, I told him what my ambition/dream was and he said “I’m 95% certain you’re absolutely crazy, especially because in my twilight years I plan to stay as far away from that space for as long as possible, but I see something very special in you, I resonate with your energy, passion and I would really like it if we could keep in touch and meet up again”

Now, given that back then he was in his early 80’s, I didn’t take it as a huge compliment being told that he resonated with my energy and passion, being over 5 decades younger than him lol, but getting to know him during our meetings at his office in Marylebone for the best part of a decade, it was actually me who was in awe of his energy and passion. He was always excited about his new ideas and he would say to me that our meetings were more like mentorship for him, which I don’t disagree entirely with, our meetings were mutually enjoyable and symbiotic.

David had seen it all, he was someone who beyond politics, had been an operator, built and successfully exited companies and ...

Guest Post By David Stephen

There is a recent paper, Association of Habitual Checking Behaviors on Social Media With Longitudinal Functional Brain Development, whose result suggested that, “habitual checking of social media in early adolescence may be longitudinally associated with changes in neural sensitivity to anticipation of social rewards and punishments, which could have implications for psychological adjustment.”

An author of the study said, “For youth who habitually check their social media, the brain is changing in a way that is becoming more and more sensitive to social feedback over time. And this is setting the stage for how the brain continues to develop into adulthood.”

The NFL and Social Media, Improving Mental Health Safety?

There is a report that around 1,200 parents in the United States are suing a number of social media companies, including Meta, Tiktok and Snap for not putting appropriate precautions in place against mental health problems for kids.

There is also a report that some NFL players have expressed a desire to have some upcoming games delayed after a Buffalo Bills player, Damar Hamlin, suffered a cardiac arrest while playing the Cincinnati Bengals. The NFL, the report said, sent a memo on available mental health resources to players.

One of the problems with mental health, so far, is that where it is, or comes from, has not been particularly established. Yes, it is the brain, but it is not directly structured in the brain—as the parts of the brain.

Mental health is based in the mind. The human mind is within the brain, but its function and structure are different.

The Mind

If the human mind were structured as the human brain, it would have been straightforward to fix psychiatric disorders since alterations to a part would be enough to cure conditions as attempts explored, to no resolve, in the last century.

The brain builds, constructs or structures the mind, but the brain—as it is known—is not the mind.

The brain outsources control of internal and external senses to the mind. It is the mind being in charge that something characteristic of mind [thought or emotion] can cause a physical sensation, or that makes a physical effect change an emotional state.

It is the mind that is known to be disturbed in mental illnesses. This means that the structure and function of the mind, not the brain, are disturbed. Disturbed is a varied set of affect of the components of mind. Not knowing the components of mind or its architecture has made solving mental illnesses tougher.

Psychotropic medications target brain molecules for some relieve [given by the mind], but side-effects are experienced because those brain molecules are responsible for numerous functions of mind, so their increase or decrease affects the mind’s regular equilibrium.

It is also the mind that people use illicit drugs for, not the brain. People do not use drugs for cells and molecules in the brain. Cells and molecules in the brain are not experienced. Experiences are built off the mind.

Dopamine is the brain. Craving, reward, delight or pleasure is the mind, because it is the mind that drives all experiences. How do drugs shape the mind for users and what alternatives are possible outside of drug use?

It is in the mind that all mental health is based, not economic, social, political or environmental issues. The mind determines mental health or problem, not the external situation. Some are OK with what is considered bad for others. Some are not OK with what is considered fine to others.

What is the structure of the human mind? What are components? What are the rules of of the mind? The answer, even conceptual, would result in preliminary understanding of mental health, illness and substance abuse, directly from the source, so that as a display, for moment-by-moment moves of the mind, individuals, loved ones and caregivers can understand more of what is within, to set up better care.

Postulation The mind is a construct or structure of two fa...

Company culture is vital for the success of all businesses. Companies with great cultures enjoy higher employee retention, greater morale, and increased agility thanks to the contributions of engaged employees.

Having a great company culture can also save businesses money. Companies that value their staff are less likely to lose productivity due to burnout and can help employees alleviate work-induced fatigue before it becomes an issue.

Strengthening Company Culture Through AI

Today, companies that wish to strengthen that culture now have another trick up their sleeve – AI. AI-powered solutions can improve employee mental health, reduce the time staff spend completing mundane tasks, and spot culture-related issues before they spiral out of control.

AI Leadership

AI-integrated leadership may sound like an employee’s worst nightmare. It’s easy to imagine a dystopian workplace with scenes from classic films Metropolis or The Matrix. In reality, AI is designed to help leaders achieve their potential and better serve the employees who follow them.

AI can provide training opportunities for leaders in the workplace. AI-integrated training programs can track quantitative data and give leaders insights into the effectiveness of new motivational strategies.

AI-integrated leadership is particularly useful in businesses with flat organizational structures where one leader is responsible for many employees. Businesses like manufacturers and production companies can use AI to speed up pattern analysis and identify trends. This means that leaders can spend less time digging through data and more time honing their skills.

AI and Skills

Typical AI algorithms are adept at completing repetitive tasks and generating reliable outcomes. However, AI programs that utilize deep learning can complete more complex tasks and help employees gain technical skills.

AI-led learning programs are already popular in the education sector. Programs like DuoLingo and Gradescope give learners an intuitive and user-friendly learning platform to develop skills and receive useful feedback.

AI can also be used in professional training. Companies like Google now offer further education using AI programs that make use of deep learning and machine learning.

Google AI can help participants gain technical skills and gain a deeper understanding of machine learning. Employees who learn how to program and edit algorithms are more likely to buy into automation programs and will be ready for the future as AI becomes more central to our everyday lives.

Automation

Automation is revolutionizing workplaces around the world. Employers who utilize automation can save time and money, as simple tasks like sending invoices and emails can be fully automated. This optimizes employees’ workflow and means they can spend more of their workday on tasks that matter.

Businesses that are considering automation should start with simple tasks first. Consider automating tasks like:

Email confirmations following an order;

Time tracking and scheduling;

Task management in workflow apps;

Chatbot responses to FAQs.

These tasks are simple and low-stakes — failing to send a single email confirmation is unlikely to undermine a business’s operations. However, sending invoices and responding to FAQs can easily eat up employees’ entire days and leave little time for the work they care about. Automating simple tasks can build trust in AI and help employees buy into the idea of an automated workplace.

Over time, businesses can automate more tasks to further improve company culture. More complex tasks, like data entry and social media posting, can be automated and tracked using AI. The goal, however, should always be to facilitate greater employee engagement — not to automate it.

Companies that want to inspire a free, agile workplace can use automation to protect their employee’s schedules and promote better health and well-being.

Morale and Mental Health

Employees’ mental health is indicative of company cultu...

Three Ireland is pleased to announce that access to its 5G network is now free across mobile plans for all new customers, with free 5G being introduced for existing customers over the coming months at no extra cost.

5G connectivity gives speeds ten times faster than 4G, with lower latency and greater reliability – enriching all connectivity experiences from amplified gaming to increased streaming and download speeds. The adoption of and access to 5G technology brings considerable added value to Three customers in Ireland, enhancing their lives and how they choose to connect.

Now with over 85% 5G population coverage and additional sites being activated every week across towns and villages in Ireland, Three’s delivery of free 5G to all further establishes the company’s commitment to providing exceptional value and ensuring customers have access to the leading technology available today.

Elaine Carey, Chief Commercial Officer, Three Ireland & Three UK, said: “At Three, we want to provide our customers with a better-connected life, and we’re doing just that by introducing free 5G across all of our mobile plans. Value is more important than ever to our customers, and over the coming months, all Three Ireland customers will have free access to our 5G network, bringing them a truly richer connectivity experience, whether shopping, studying or gaming.”

More about Irish Tech News

Irish Tech News are Ireland’s No. 1 Online Tech Publication and often Ireland’s No.1 Tech Podcast too.

You can find hundreds of fantastic previous episodes and subscribe using whatever platform you like via our Anchor.fm page here:

If you’d like to be featured in an upcoming Podcast email us at [email protected] now to discuss.

Irish Tech News have a range of services available to help promote your business. Why not drop us a line at [email protected] now to find out more about how we can help you reach our audience.

You can also find and follow us on Twitter, LinkedIn, Facebook, Instagram, TikTok and Snapchat.

Dell has unveiled its latest monitor and peripheral releases of the year including the world’s first 6K monitor with IPS Black and world’s first Zoom certified collaboration keyboard.

Dell UltraSharp 32 6K Monitor

Fully compatible with both Windows and Mac operating systems, the Dell UltraSharp 32 6K Monitor (U3224KB) raises the bar with exceptional details, sharpness and color accuracy in stunning 6K resolution and VESA DisplayHDR 600 for detail-oriented professionals like graphic designers, engineers, and data scientists where every pixel counts. With 150% more pixels on 6K resolution compared to 4K, the new UltraSharp 32 6K Monitor brings extra details and additional clarity.

The inclusion of IPS Black technology means an increase in depth for dark objects. even in dark environments, and accurate colors viewed from virtually every angle. Dell’s recently commissioned Hot Tech study revealed monitors with IPS Black technology offer up to 41% deeper black levels and up to 1.2 times better color accuracy than conventional IPSespecially in displaying low grays.

The UltraSharp 32 6K Monitor is also ideal for users looking for excellent video conferencing capabilities especially under low light conditions. It features a built-in dual gain HDR 4K webcam and provides auto framing, light adjustments plus enhanced clarity, automatic SafeShutter, echo cancellation mic and dual 14W speakers for an intelligent and more secure collaboration experience.

More Productivity Powerhouses

For creatives and business users who don’t require 6K resolution, Dell is also introducing two new UltraSharp monitors to suit users’ everyday needs.

The first curved WQHD monitor with IPS Black technology, the Dell UltraSharp 34 Curved USB-C Hub Monitor (U3423WE) allows users to connect and display content from two PCs using Picture-by-Picture (PBP) and Picture-in-Picture (PIP) features, while enjoying clear audio with the integrated dual 5W speakers.

A productivity powerhouse and a collaboration dream wrapped into one, the Dell UltraSharp 43 4K USB-C Hub Monitor (U4323QE) allows users to connect one PC to the monitor and split it into multiple (up to four) screen partitions, as well as the ability to connect up to four different PCs to the monitor, view all four inputs, and switch between them using KVM.

Innovative Peripherals for Maximized Collaboration

Dell has kicked off 2023 by also unveiling the world’s first Zoom-certified6 collaboration keyboard, the Dell Premier Collaboration Keyboard (KB900). Its sleek design features dedicated touch controls to easily manage Zoom calls easily, allowing users to mute and unmute the microphone, toggle between video on and off, easily screen share and bring up the chat panel. The device has 15 programable keys and fast one-minute USB-C charging for a full day of battery life or up to 20 days on a single charge.

Dell Premier Collaboration Keyboard and Mouse

Dell is pairing the keyboard with the new Dell Premier Rechargeable Mouse (MS900), featuring a design with a comfortable palm grip. This mouse has a track-on-glass sensor that allows users to work seamlessly on virtually any surface, while smooth gliding advanced four-way scrolling provides a more intuitive navigating experience.

The device allows for seamless switching between three devices and fine tune speed, tracking (with up to 8K dpi) and precision with Dell Peripheral Manager. The mouse provides half a day of use with one-minute USB-C quick charging and up to three months of battery life on a full charge. Both devices are seamless and more secure with Dell Pair one click connectivity and transmission is encrypted to help keep users’ data safe.

Commenting on the new releases, Yoon Lee, VP, Monitors, Dell Technologies, said: “Regardless of where you work, technology remains a staple in facilitating productive and collaborative employee experiences. At the center is the overarching PC experience driven largely by an entire ecosystem of devices bringing employe...

The instability of the last few years has significantly tinkered with our ability to adopt innovation. The COVID-19 pandemic meant even companies skeptical of remote work had to implement it in one way or another. From the pandemic to the recession and global insurgencies, we are at a point where every bit of innovation is up for adoption.

Think about the innovation around us today. Imagine a much more improved and refined version with widespread adoption; that is what 2023 has lined up for us. The tech trends we’ve been seeing over the last decade are finally coming to fruition. The future is here, and it’s a wild ride.

So, without further 2022, let’s get to the heart of 2023!

1. Digital Twin Technology for Industry 4.0 and 5.0

Gartner identified Digital Twin Technology (DTT) as the world’s most potent new technology in 2018. At a basic level, DTT uses sensors to gather data from a physical object. This data is then stored, processed, and analyzed with the help of a simulated virtual image, a twin of the physical object.

DTT can offer significant value for developing customized products in the market, enhanced business functions, reduced defects, and rapidly growing innovative business models to achieve profits.

DTT can enable Industry 5.0 to overcome technical issues by identifying them faster, identifying items that can be reconfigured or renewed based on their productivity, making predictions at higher accuracy rates, predicting future errors, and avoiding substantial financial losses. This type of smart architecture design enables organizations to realize economic advantages successively and more quickly than ever before.

In Industry 4.0, DTT can be used to generate simulation models and access real-time computational data so that companies can remotely modify and update physical objects. In Industry 5.0, DTT is used for customization that can improve the user’s experience of their product needs. This purchasing process enables clients to build virtual environments to see the results.

2. The Internet of Things

The Internet of Things (IoT) is the interconnection of devices and sensors through the internet. This means that these devices can be interconnected with each other and used to control other devices. In short, everything is connected.

IoT has been a major focus for technology companies in recent years as they have started creating IoT-enabled products. These include smart home appliances such as refrigerators, washing machines and thermostats; wearable technology such as fitness trackers; even cars have been getting smarter thanks to IoT technology!

There are also many applications for IoT beyond just connecting household appliances together. For example:

Connected parking meters allow you to pay using your smartphone instead of having cash on hand

Smartwatches monitor your heart rate while exercising so they can tell you when it’s time to take a break from working out

The possibilities are endless with where this type of technology could take us in 2023!

3. Artificial Intelligence

AI is becoming more and more prevalent in our daily lives, and that’s only going to continue. We’re already seeing AI being used for things like self-driving cars and voice assistants like Alexa, but it’s also making its way into health care, education, and many other industries. ChatGPT is currently taking the internet by storm and generating incredibly humanlike content, including jokes, video scripts, songs, articles, and even computer code.

In the future, you’ll see intelligent systems that can help you make better decisions as well as solve problems you haven’t even thought of yet!

4. Web 3.0

Web 3.0 is the next version of the Internet. It’s an upgrade being developed to make the internet more secure, faster, and more efficient.

Web 3.0 is an evolution of the web that allows for decentralized applications to run on a blockchain infrastructure. These applications are powered by smart contracts, which are computer programs that exec...

In this episode we ask one of the OG’s of crypto, Bill Bardhyt, to join us on The Futurists to talk the 2022 crypto collapse, the merits of crypto and blockchain for the future-world, and how crypto, stablecoins, tokens, NFTs and CBDCs will ba battle it out for the emerging monetary rails of the 21st century.

We also debate who Satoshi Nakomoto was, why ‘he’ created bitcoin, and what the collapse of FTX and other exchanges mean for the principles of decentralization that the crypto community holds so dear. Follow @billbarhydt & linkedin.com/billbar

Does crypto have a future? Insights with Bill Bardhyt

Subscribe and listen to the Futurists Podcast where hosts Brett King and Robert Tercek interview the worlds foremost super-forecasters, thought leaders, technologists, entrepreneurs and futurists building the world of tomorrow. Together we will explore how our world will radically change as AI, bioscience, energy, food and agriculture, computing, the metaverse, the space industry, crypto, resource management, supply chain and climate will reshape our world over the next 100 years. Join us on The Futurists and we will see you in the future!

Brett King is a world-renowned entrepreneur, futurist, speaker, international bestselling author, and media personality. China’s President Xi Jinping cited his book Augmented: Life in the Smart Lane on the topic of Artificial Intelligence in his 2018 national address; the same book that was listed as a Top 10 non-fiction book in North America. In 2019 his book Bank 4.0 was awarded the Top Book by a Foreign Author in Russia for that year.

Robert Tercek is an award-winning author, entrepreneur, and educator focused on the process of dematerialization and innovation. In his professional capacity, Mr. Tercek is a seasoned business executive with deep expertise in digital media and internet services. He is a prolific creator of interactive programs and products. He has designed and launched successful consumer experiences on every digital platform, including digital television, game consoles, broadband Internet, and mobile networks.

In 2021, Mr. Tercek was recognized as the Humanitarian of the Year by the Media Excellence Awards for his leadership in designing and launching COVID SMART™, an interactive training program designed to keep workers safe on the job during the pandemic.

See more podcasts here.

The UK government has announced plans to position the country as a global hub for cryptoasset technology and investment, recognizing the potential impact of blockchain and distributed ledger technologies (DLT) on areas such as digital identities and decentralized voting systems. The UK’s Blockchain APPG, led by Martin Docherty-Hughes MP and established in 2018 to facilitate understanding of these technologies among regulators, has invited the founder of Electroneum, Richard Ells, to join its Advisory Board. This marks a significant milestone for Electroneum.

Richard Ells to join UK’s Blockchain Parliamentary Group

Richard was first involved with APPG Blockchain in June 2022 when he was invited to speak at UK Parliament alongside four other industry experts to share their organisation’s opinions on the importance of supportive digital asset regulations in the UK.

In addition to Martin Docherty-Hughes MP who leads APPG Blockchain, the group’s officers include; Kevan Jones MP, Viscount Waverley, The Earl of Lindsay, and Stephen Metcalfe MP. The advisory board includes; Dr. Scott Steedman (BSI Group), Charles Kerrigan (CMS Tax Law), Dr. Navin Ramachandran (IOTA Foundation), Chris Trew (Stratis Platform), amongst a few others.

“I welcome Electroneum and its Founder, Richard Ells, to the Advisory Board within the All-Party Parliamentary Group on Blockchain (APPG Blockchain). Working across blockchain developers, industry adoption and government in the areas of Blockchain policy, regulation and digital infrastructure development is vital for this sector to unlock its full purpose and potential. We must enable our business models, economy and society to fully benefit from the advantages of Blockchain technology. Support from Electroneum is valued alongside other significant industry players. ” – Prof. Birgitte Andersen, CEO of Big Innovation Centre – APPG Blockchain Secretariat.

Ells has been a leading advocate for the adoption of blockchain and distributed ledger technologies in the UK for many years, as the company has been operating in this field since the mid-2010s.

“It is a tremendous pleasure to be working alongside some of the UK’s most forward-thinking members of parliament. I’m confident that with the help of APPG Blockchain, the UK government can develop a strong foundation upon which blockchain and DLT innovation is supported and not hindered by long-established laws, many of which were established long before electricity was even a concept, let alone blockchain! I have no doubt that our work with Electroneum and AnyTask.com will provide invaluable insight for the guidance put forth to government by APPG Blockchain,” says Ells.

Over the last five years, Ells and his team have helped to deliver on various solutions that not only simplify the use of cryptocurrency but enable people to embrace new ways to earn an income online without the need for a bank account; a global issue faced by more than one-fifth of the world’s population.

Today the Electroneum ecosystem supports more than four million users worldwide. Meanwhile, AnyTask.com is enabling freelancers to get paid in Electroneum’s native cryptocurrency (ETN) to alleviate the need for a bank account, whilst helping to reduce Seller Fees to zero and facilitate cross-border transfers at a fraction of the cost.

Thhis comprehensive approach to cryptocurrency, which has been in operation for several years, will provide valuable insights for the UK’s APPG as they advise policymakers on the potential impact of blockchain and distributed ledger technologies in various sectors.

See more breaking stories here.

More about Irish Tech News

Irish Tech News are Ireland’s No. 1 Online Tech Publication and often Ireland’s No.1 Tech Podcast too.

You can find hundreds of fantastic previous episodes and subscribe using whatever platform you like via our Anchor.fm page here:

If you’d like to be featured in an upcoming Podcast email us at [email protected] now to discuss.

Irish Tech Ne...

Typetec, one of Ireland’s leading managed IT and cyber security solutions providers, has announced the results of its survey of SMB owners in Ireland which show that IT cybersecurity budgets are set to halve in 2023. The average SMB IT cybersecurity budget for this year is €57,500 – compared to €117,209 last year.

While IT cybersecurity budgets are down more than 50%, over three quarters (79%) of SMBs in Ireland have experienced a cyberattack in the past 12 months.

The survey of 200 small and medium-sized business owners – commissioned by Typetec and conducted by Censuswide – also revealed the most common form of cybersecurity attacks over the past year. Those were password hacking (32%), phishing (31%), malware (27%), and insider attacks/employee negligence (23%).

SMB owners are also concerned about the impact of cyberattacks on their business, with the biggest fear cited as going out of business (40%). Considerably more respondents are worried about this in 2023 compared to 2022 (27%).

The other biggest concerns regarding the potential effects of cyberattacks were found to be significant business downtime (39%), sensitive data being made public or traded on the dark web (38%), reputational damage (37%), and the loss of customers (32%).

Despite these fears, almost a third (32%) of SMBs do not have an effective disaster recovery plan in place. However, some 64% of respondents think they are fully prepared for evolving cybersecurity threats in 2023, and 29% feel somewhat prepared for same.

Among those that feel somewhat or fully prepared, the most popular step taken against evolving threats is increased cybersecurity awareness training for staff (37%).

Other key measures undertaken by this cohort were increasing the support they get from external managed service providers (34%), moving more systems and applications to the cloud (34%), investing in more sophisticated threat protection systems (31%), and investing in an always-on business continuity service (30%).

The research also found that a large majority (80%) of SMB owners believe that the Government/state should provide more funding/support to help protect small businesses against the rising cybercrime threat.

Trevor Coyle, Chief Technology Officer, Typetec, said: “While it might be tempting for SMB owners to reduce cybersecurity budgets at this time, our survey shows that threats are still widespread and the potential impact on businesses is greater than ever.

“We understand that many smaller businesses are dealing with inflationary pressures at this time and have to make difficult investment decisions. However, it’s important that they make smart choices and don’t leave their data and systems more vulnerable and easier to attack, which will ultimately be so much more costly if it happens.

“Being smart means not only identifying measures for protection and prevention, such as staff awareness, but also having a strategy in place to support disaster recovery and business continuity should the worst-case scenario arise.

“Only through implementing the right technologies and processes can SMBs be reassured that they are lowering risk and upholding productivity – thus protecting both their own business and that of their customers.”

See more stories here.

More about Irish Tech News

Irish Tech News are Ireland’s No. 1 Online Tech Publication and often Ireland’s No.1 Tech Podcast too.

You can find hundreds of fantastic previous episodes and subscribe using whatever platform you like via our Anchor.fm page here:

If you’d like to be featured in an upcoming Podcast email us at [email protected] now to discuss.

Irish Tech News have a range of services available to help promote your business. Why not drop us a line at [email protected] now to find out more about how we can help you reach our audience.

You can also find and follow us on Twitter, LinkedIn, Facebook, Instagram, TikTok and Snapchat.