Emerging Tech and Innovation

In conversation with Prisila, Correspondent, Asia Business Outlook Magazine. Dashdamir shares his views about the emerging technology trends are likely to disrupt or revolutionize most of the industries in Asia in the next few years.

Dashdamir Niftaliyev is a tech expert with a passion for data security, emerging tech, and innovation with experience in banking, insurance, with a wealth of experience, in 20+ different countries, Dashdamir offers valuable insights into navigating the ever-changing tech world with a focus on building the bridge between technology and business.

Data security and privacy when implementing new technologies in their industry, especially in light of recent regulations like GDPR or CCPA

Before answering this point I want to mention that I am not an expert on data security and privacy points. But I can share some important points based on my experience in the technology industry at a high level. There are some best practices to ensure data security and privacy during the implementation of new technologies.

1. Data Risk Assessment – which data types will be collected, where will be stored, how will be processed, etc. After experts analyze the risks of data leaks, unauthorized access, disclosure, etc.

2. Security Controls – Based on Data Risk Assessment, Security controls need to be developed and implemented to prevent risks that are forecasted.

3. Employee training on data security and privacy – a couple of years ago mainly employees having access to sensitive data were requested to pass the training on data security and privacy. Currently, more and less all companies train all their employees. The main topics are how to create strong passwords, how to handle sensitive data, and how to spot and report phishing attacks

4. Monitoring data security and privacy – monitoring the system logs, reviewing security policies and procedures, doing security audits, settling internal rules checks for unexpected behavior, etc.

Coming to GDPR, CCPA, or any specific regulations and acts, industry participants must take into consideration the applicable regulations and acts depending on the markets in which they are located and gathering data. Data Security covers all data types such as personnel and non-personnel. Non-personnel data is mainly managed by internal policies and rules of companies/organizations while the GDPR, and CCPA, focus on managing the specific part of the data that belongs to personnel privacy and procedures on how this personnel data can be utilized.

Emerging technology trends are likely to disrupt or revolutionize most of the industries in Asia in the next few years

In my subjective opinion, Artificial Intelligence, Internet of Things, Blockchain, and 5G, are the main revolutionizing technologies that are already in progress to be implemented.

• Artificial Intelligence (AI) is already being used in a wide variety of industries.
• Internet of Things (IoT) is a developing technological trend that is growing as well, especially in manufacturing, transportation, and agriculture.
• Blockchain technology can be used to create secure and transparent transactions in any industry.
• 5G technology is the next generation of cellular technology which has unlimited potential to be used in any industry as well. It is a very recent technology and is still under discovery where it could be implemented.

Implemented to nurture an environment of innovation and ongoing learning in a company, enabling it to stay current with advancing technologies

To nurture an environment of innovation and ongoing learning in a company, enabling it to stay current with advancing technologies, the following strategies can be implemented as

• Creating a Culture of curiosity and experimentation where employees will not be afraid to experiment with new technologies and will take risks after they share their ideas.
• Investment in the training and development of employees in a way to increase the grade of the knowledge, reimburse the tuition fees, etc.
• Encourage collaboration between the employees to share their knowledge by creating cross-functional teams, holding brainstorming events, etc.
• Rewards policies for innovation could be very good motivation for employees to explore new technologies like financial rewards, promotions, etc.

"Creating a Culture of curiosity and experimentation where employees will not be afraid to experiment with new technologies and will take risks after they share their ideas."

Organization's preparedness for implementing new technology, and what measures should be taken to facilitate a seamless transition

To evaluate an organization's preparedness for implementing new technology, the company needs to consider a couple of points investment, leadership support, change management, technology infrastructure, employee skills and knowledge, culture, income level, etc. If the organization scores well in all of these areas, then it is likely to be well-prepared for implementing new technology. However, if there are any areas of weakness, then the organization should take steps to address them before implementing new technology like continuously communicating with employees, training them, supporting them during the transition, and being impulsive for adjustments if needed. To achieve the goal in implementation I think the Start needs to be small, the process needs to be flexible and every success needs to be celebrated.

Most critical considerations when selecting and implementing new software or hardware solutions for an organization

The most critical considerations when selecting and implementing new software or hardware solutions for an organization are

• Business needs and Return on investment
• Budget for the technology funding and implementation
• Features and Functionality, Integration Availability
• Vendor support in case of need

In addition to these critical considerations, there are several other factors that organizations should consider when selecting and implementing new software or hardware solutions, such as Security, Ease of Use, Scalability, Flexibility, etc.