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What Challenges Are IT Companies Facing and how Can They Overcome Them?

4 minutes

How important has the IT industry actually become? In 2024, the IT industry is worth 1.36 bi...

How important has the IT industry actually become? In 2024, the IT industry is worth 1.36 billion dollars, and by 2028 that number will rise to 1.77 billion dollars. As a result, both enterprises and IT specialists have a bright future with a lot of opportunities. However, as we enter 2024, IT professionals are facing multiple challenges that are reshaping the landscape of the industry. From cybersecurity threats to talent shortages, the IT sector is navigating a complex and rapidly evolving environment. It's important for businesses to overview future threats and challenges to innovate and adapt themselves. But how do you adapt in our digital world?

This article will lay out all the challenges that the IT industry will face this year. I will also explain what you can do as an employer to stay competitive and ahead of the competition. Additionally, I will tell you why working with a recruitment company will take your company to the next level, even though you may be facing an IT talent shortage today. 


1. Cybersecurity Threats

You will probably have received at least one spam mail or a suspicious file. Over 75% of targeted cyberattacks start with an email. Cyberattacks are one of the most pressing challenges facing the IT industry in 2024. With the increasing digitisation of businesses and the rise of interconnected devices through the Internet of Things (IoT), the attack surface for cybercriminals has expanded significantly. Cybercriminals continuously evolve their tactics, exploiting vulnerabilities in networks, software, and human behaviour to gain unauthorised access, steal sensitive data, or disrupt operations. The FBI registered 15,421 internet crime complaints related to tech support fraud in 2020. Those victims were not only located in the U.S, but in 60 countries. These are the most common cyber threats:

  • Viruses
  • Phishing
  • Ransomware
  • Malware
  • Spyware

To protect your company from these threats, it's crucial to implement robust cybersecurity measures. This includes regularly updating software and systems to patch known vulnerabilities. It’s also important to teach staff certain cybersecurity tips and skills, such as recognizing phishing attempts and using strong, unique passwords. Additionally, investing in advanced threat detection technologies and conducting regular cybersecurity assessments can help identify and mitigate potential risks before they escalate into full-blown attacks. By taking a proactive approach to cybersecurity and staying vigilant against emerging threats, businesses can significantly reduce their risk exposure and safeguard their valuable assets from cyberattacks. 


2. Tech Talent Shortage

MIT Technology Review Insights launched a poll, which stated that 64% of global tech leaders indicated that IT and tech candidates lack necessary skills or experience. The need for IT specialists keeps on growing, leading to a significant talent shortage across the industry. Competition for top talent is fierce and because of the growth of the IT industry companies are looking for professionals with expertise in emerging technologies, such as artificial intelligence, machine learning, and cloud computing. As a result, recruiting and retaining skilled IT professionals has become increasingly challenging for organisations of all sizes.

As companies across various sectors continue to digitalise and innovate, the need for skilled IT professionals has skyrocketed, creating a fierce competition for talent. To address this issue, organisations must adopt proactive strategies such as investing in training and development programs to upskill existing employees, offering competitive compensation packages to attract top talent, embracing remote work to widen the talent pool, fostering a positive company culture to retain skilled professionals, and building strategic partnerships to access diverse talent sources. By implementing these measures, companies can effectively navigate talent shortages and market competition in the IT industry and maintain a competitive edge in the ever-evolving digital landscape.

But hiring a specialised IT recruitment company is even more efficient to find the perfect employee for your job. Amoria Bond can help you find experienced staff within your budget by tailoring our recruitment strategy to your goals and needs.


3. Digital Transformation and Innovation

In an increasingly digital world, organisations are under pressure to innovate and adapt to changing market dynamics. That’s why IT professionals need to stay ahead of the competition by continually updating their skills. Additionally, managing complex digital transformation initiatives, including the adoption of cloud computing, big data analytics, and DevOps practices, presents its own set of challenges for IT teams.

Digital transformation and innovation are necessary for businesses to stay competitive. Embracing digital transformation involves using cutting-edge technologies and reimagining traditional business processes to enhance efficiency, agility, and customer experience. Enterprises should adapt themselves by implementing a culture of innovation, encouraging experimentation, and empowering employees to embrace change. Moreover, businesses need to prioritise customer-centricity by harnessing data-driven insights to anticipate customer needs and deliver personalized experiences. Embracing a flexible and agile mindset is crucial, allowing organisations to adapt quickly to market disruptions and capitalize on new opportunities. Ultimately, businesses that proactively embrace digital transformation and innovation will not only survive but thrive in the digital age.


4. Ethical Considerations and Responsible AI

As AI and automation technologies become more pervasive, ethical considerations surrounding their use are coming to the forefront. IT professionals are tasked with ensuring that AI algorithms are transparent, unbiased, and used responsibly to avoid privacy violations or any other unethical crimes. Developing and implementing AI systems that are both effective and ethical requires a deep understanding of the societal implications of technology. Business will need to comply with EU regulations surrounding AI, which will be a great investment. Nevertheless, those investments will have a positive impact. 

In 2021, the EU  laid the first stones for a regulation regarding AI. The goal of the EU is creating better conditions for the development and use of AI. AI applications not only need to be safe for users, but also transparent and traceable. That’s why the European Commission wants to classify different AI systems according to their risk to users. 


Why a specialised IT recruitment company can boost your business

The challenges facing the IT industry in 2024 are significant, which means that companies need to be resourceful if they want to keep innovating and growing. To ensure you have the best IT staff, it’s best to hire an experienced recruitment company that understands your goals and needs.  

For example, at Amoria Bond we offer 360° solutions, tailored to your business. We also keep close contact with our clients during the hiring process to deliver the best service possible. A recruitment company can find suitable candidates in niche markets, which can be difficult. Because of the talent shortage and the growing IT industry, the talent shortage is only growing. Above that, there is also a talent gap, which means that not every employee has the right skills or knowledge for a job. Innovation and growth can only be achieved if you have the right people. That’s why a recruitment company isn’t a luxury, but an investment.


Progress your life with Amoria Bond

Amoria Bond is a specialised IT recruitment company founded in 2006, meaning we have over 18 years of presence in the marketplace. Our tailor-made recruitment services have helped over 1000’s of organisations finding the right IT specialists for their vacancies and projects. Visa versa we’ve helped even a larger amount of people finding their next assignment or dream job. We can proudly say our purpose is to progress lives everywhere.

Contact me and my team to find more about our services. Whether you need the perfect candidate or you are looking to boost your career, we can help you!