Business of Tech: Daily 10-Minute IT Services Insights

A recent survey by Appen reveals a drop in both the deployment of AI initiatives and their return on investment. The survey indicates that the mean percentage of AI projects deployed has fallen from 55.5% in 2021 to 47.4% in 2024, with significant ROI dropping from 56.7% to 47.3%. Appen attributes these declines to a lack of high-quality training data, emphasizing the importance of expertly labeled data in enhancing AI model accuracy. Additionally, a Gartner report shows that nearly half of businesses struggle to estimate the value of AI projects, complicating their adoption.The episode also delves into the challenges faced by U.S. federal agencies in adopting AI technologies. A FedScoop report reveals that many agencies cite data management issues and a lack of AI-trained employees as significant obstacles. The Department of Energy has raised concerns about security issues with cloud services, while the Nuclear Regulatory Commission has noted a workforce that is both interested in AI and fearful due to a lack of understanding. Meanwhile, a Capgemini report predicts that generative AI could transform entry-level careers by facilitating 32% of entry-level tasks, although only a small percentage of leaders currently use these tools daily.Host Dave Sobel highlights recent advancements from major players in the AI space, including Stability AI, which has unveiled its Stable Diffusion 3.5 series of image generation models designed to produce more diverse outputs. Anthropic has launched updated AI models that automate tasks for software developers, allowing for complex actions with minimal human input. Microsoft is set to introduce its CoPilot AI agents, which promise significant productivity improvements for businesses. However, experts urge caution regarding the claims of productivity gains, emphasizing the need for clear baseline data to assess the true impact of these tools.Finally, the episode touches on Apple's Vision Pro mixed reality headset, which is facing production cuts and potential discontinuation due to a lack of developer enthusiasm and app availability. With only two apps launched specifically for the device in September, down from 252 in February, Apple is shifting its focus toward a more affordable model expected to launch by late 2025. Sobel concludes that the current trajectory suggests that the Vision Pro may not be the right form factor for spatial computing, indicating a potential dead end for the technology as consumer demand and developer interest remain low.Three things to know today00:00 Declining AI Project Success Points to Need for Better Data and Workforce Training in Both Federal and Corporate Spheres05:21 Stability AI Unveils Image Models, Anthropic Enhances Developer Tools, Microsoft Launches Copilot Agents08:57 With Vision Pro's Future in Doubt, Apple Prepares for Affordable Successor by 2025  Supported by:  https://www.coreview.com/msphttp://blumira.com/radio/    All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessof.tech

A survey by Kaseya reveals that human behavior remains the primary challenge for IT professionals, with 89% citing insufficient training and poor user habits as significant issues. Phishing continues to be the top threat, affecting 58% of businesses, while the adoption of cyber insurance has surged from 27% in 2023 to 61% in 2024, indicating a growing awareness of cyber threats. As IT budgets stabilize, organizations are prioritizing investments in cloud security and security awareness training.Host Dave Sobel also addresses the impending rush for Cybersecurity Maturity Model Certification (CMMC) compliance, with 76,000 companies needing evaluations and only 50 to 60 assessors available. This situation presents a significant opportunity for compliance preparation services, such as gap assessments and remediation plans. The episode emphasizes that while compliance does not guarantee immunity from cyber incidents, it enhances protection against them. The anticipated release of a second rule to operationalize CMMC by early 2025 suggests that organizations must remain vigilant and adaptable to evolving requirements.The discussion further explores the rising issue of shadow IT, particularly in light of the increasing use of SaaS applications, which have doubled per employee since 2019. Traditional security measures are proving inadequate as employees utilize unauthorized tools without IT oversight, leading to heightened risks of data leakage. The episode highlights the need for robust credential management and modernized security strategies to address these challenges, especially as generative AI tools change the way employees work.Finally, Sobel touches on significant trends in energy innovations among major tech companies, including Google and Amazon Web Services, as they invest in nuclear power to meet the growing energy demands of their data centers. These initiatives reflect a broader trend towards securing reliable and sustainable energy sources, particularly in the context of the increasing energy consumption driven by generative AI. The episode concludes by emphasizing the importance of monitoring how these investments will become profitable, as the tech giants navigate the balance between sustainability and financial viability.Four things to know today 00:00 From Ransomware Defense to Sustainable IT: How IT Pros Are Addressing Evolving Cybersecurity Threats in 202406:29 CMMC Compliance Rush Looms with Limited Assessors and 76,000 Companies in Need of Evaluation07:55 Gartner Warns of Rising Shadow IT as SaaS Use Per Employee Doubles Since 201909:18 Cybersecurity, Data Protection, and Energy Innovations: Cynomi, Sherweb, Pax8, Google, and AWS Lead Industry Shifts Supported by:  https://www.huntress.com/mspradio/https://www.coreview.com/msp    All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessof.tech

A recent Salesforce survey reveals that while 84% of CIOs view AI as a game-changer, only 11% have fully implemented AI systems. The survey highlights a significant gap between the recognition of AI's potential and the reality of its adoption, with CIOs allocating four times more of their budgets to data initiatives than to AI projects. This prioritization underscores the importance of data security and infrastructure as foundational elements for successful AI integration.Further insights from a report by MIT Technology Review Insights, in partnership with Snowflake, indicate that 78% of businesses struggle to capitalize on AI due to inadequate data foundations. The report reveals that 95% of organizations face challenges in implementing AI, and only 22% of business leaders feel prepared to engage with AI technologies. Despite the desire to enhance efficiency through generative AI, many organizations grapple with issues related to data governance and quality. Baris Gutlikin from Snowflake emphasizes that a robust data foundation is crucial for unlocking AI's potential and driving innovation in the market.The episode also touches on the evolving landscape of consumer protection, particularly with the Federal Trade Commission's (FTC) revisions to its Negative Option Rule. These changes aim to enhance transparency in subscription services by requiring clear disclosure of terms and easy cancellation methods. The rule applies to various marketing practices, including automatic renewals and free trial offers, emphasizing the need for businesses to comply with new regulations to avoid penalties. Additionally, the FTC is investigating Deering Company's repair policies, which may infringe on customers' rights, highlighting ongoing concerns about consumer rights in the marketplace.Finally, Sobel highlights recent advancements in AI technology from major players like IBM, NVIDIA, and Intel, who are rolling out new models and tools aimed at enhancing enterprise capabilities. IBM's third-generation Granite models and NVIDIA's Lama 3.1 Neomatron 70B Instruct are designed to improve operations across various sectors, while Intel's AI PC SMB App Pack aims to empower small and medium-sized businesses. The episode underscores the importance of integrating AI into enterprise workflows and security, presenting a strong case for organizations to focus on practical, deployable solutions that leverage AI innovation. Three things to know today 00:00 CIOs See AI as Transformative, But Data Infrastructure Takes Priority in Budget Allocation04:39 FTC's Revised Subscription Rule Targets Transparency, Impacting MSPs and Service Providers with New Cancellation Requirements08:18 IBM Granite, Nvidia, and Intel Roll Out Advanced AI Models and Tools, Focusing on Enterprise and SMB Markets  Supported by:  https://getthread.com/mspradio/https://mspradio.com/engage/     All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessof.tech

Host Dave Sobel discusses the current state of the U.S. economy, highlighting a 0.4% increase in retail sales for September, which counters fears of an economic slowdown. Notably, sectors such as clothing, restaurants, and pet stores saw significant spending increases, while furniture and electronics experienced declines. Sobel also references Kindrall's 2024 readiness report, revealing a disconnect between executives' confidence in their IT infrastructure and its actual preparedness for future challenges, with a significant portion nearing the end of its life cycle.The episode delves into the growing adoption of artificial intelligence (AI) among small businesses, with 40% utilizing AI tools in 2024, up from 23% in 2023. The primary applications include marketing and customer communication, reflecting a broader trend of businesses leveraging AI for data-driven strategies. Sobel notes that the AI market is valued at approximately $9 trillion, with predictions indicating a shift towards no-code applications and advancements in robotic process automation. The discussion emphasizes the importance of AI in enhancing operational efficiency and decision-making.Sobel highlights the evolving landscape for managed service providers (MSPs), particularly how mid-sized MSPs are leveraging generative AI tools to carve out niche markets. He points out that while larger MSPs focus on massive enterprise contracts, smaller players can thrive by specializing in specific verticals like healthcare and finance. The episode also touches on a CDW survey revealing that while organizations feel capable of managing their cloud environments, challenges such as a lack of governance and cloud skills persist, indicating a steady demand for cloud expertise.The episode concludes with a look at recent product launches and updates from major tech companies. Microsoft has introduced AI agents for its Dynamics 365 platform, aimed at automating tasks and improving efficiency, while OpenAI has launched a desktop application for ChatGPT, enhancing user accessibility. Additionally, PAX 8 has expanded its security program for MSPs, and Apple has introduced Business Connect to help organizations manage their identity across its platforms. Sobel emphasizes the need for expertise in AI deployment and the importance of specialization for service providers navigating these trends. Five things to know today 00:00 Amid Retail Strength and AI Growth, IT Leaders Face Infrastructure Gaps and Cloud Expertise Shortages06:51 Microsoft’s Dynamics 365 AI Agents and OpenAI’s ChatGPT Desktop App Launched08:49 Evo Security Launches Evo 2.0, Pax8 Expands Security Program and Marketplace 10:48 Apple Introduces Business Connect to Strengthen Brand Trust with Verified Business Caller ID in 202511:51 New $25M Founders Fund from Top Down Ventures Backs Promising SaaS Players in the MSP Sector   Supported by:  https://www.huntress.com/mspradio/https://mspradio.com/engage/    All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessof.tech

In this episode of The Business of Tech, host Dave Sobel engages in a deep conversation with Avi Perez, co-founder and CTO of Pyramid Analytics, who brings over 16 years of experience in the field of artificial intelligence and business intelligence. The discussion begins with a historical perspective on the evolution of AI, particularly in the realm of business intelligence, highlighting how AI has been a central component of BI for many years, long before the recent surge in popularity due to tools like ChatGPT. Avi emphasizes that AI encompasses a broad range of functionalities designed to assist users in navigating complex software, and he distinguishes between AI, data science, and machine learning.As the conversation progresses, Avi addresses the current landscape of AI in business intelligence, particularly the integration of large language models (LLMs) and their transformative potential. He notes that while LLMs have significantly enhanced natural language querying capabilities, the real challenge lies in bridging the gap between these advanced technologies and their practical application in business contexts. Avi argues that the responsibility for this integration falls on software vendors and service providers, who must ensure that quality data is fed into these systems to avoid the pitfalls of "garbage in, garbage out."Avi further elaborates on the emerging role of service providers in the context of vectorization, a process that combines public and proprietary data to enhance the functionality of LLMs. He explains that vectorization allows organizations to query their unique datasets without compromising data security or performance. This process requires skilled professionals who can effectively manage and optimize the data, ensuring that it is structured and semantically rich enough to yield meaningful insights when queried through LLMs.The episode concludes with a discussion on the future of data governance and the critical role service providers will play in helping organizations navigate the complexities of data quality and management. Avi highlights the need for a thoughtful approach to data structuring and the importance of understanding business use cases to optimize the vectorization process. This evolving landscape presents a significant opportunity for service providers to deliver value by facilitating the integration of advanced AI technologies into business intelligence frameworks, ultimately enabling organizations to make more informed decisions.  All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessof.tech

Host Dave Sobel engages in a thought-provoking conversation with Steven Cook, the owner of Strategic IT Services, a managed service provider (MSP) specializing in cybersecurity. Steven shares insights into the diverse range of services his organization offers, from general technical support to cybersecurity and disaster recovery. With a focus on co-managed IT, Steven explains how his company assists businesses of varying sizes, from solopreneurs to larger organizations in regulated sectors like finance and energy.The discussion delves into the impact of regulations on customer needs, particularly in the energy sector, where recent political changes have significantly affected income streams. Steven highlights the challenges faced by small businesses in maintaining IT services, often opting for minimal or no support, which raises concerns about cybersecurity risks. He emphasizes the importance of having a baseline level of security measures in place, such as endpoint detection and response, to protect sensitive information and maintain operational continuity.As the conversation progresses, the topic shifts to the evolving landscape of cybersecurity regulations, including the rollout of CMMC 2.0 and the implications of FedRAMP certification for software vendors. Steven expresses his expectation that demand for compliance with these standards will increase, particularly as more MSPs and MSSPs serve defense-related industries. He notes that while some vendors have yet to prioritize FedRAMP certification, there is a growing need for businesses to adopt security measures that meet regulatory requirements.Finally, Steven shares his perspective on the liability of software providers in the context of cybersecurity incidents. He argues that while vendors like CrowdStrike bear some responsibility for their products, the onus also falls on businesses and IT implementers to follow best practices in deploying technology. This includes implementing phased rollouts and testing updates in controlled environments. The episode concludes with a call for clearer regulations and standards to protect businesses and their customers from the increasing threat of cyberattacks.  All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessof.tech

A recent MIT report revealing that 78% of businesses face challenges in AI adoption due to weak data foundations. Despite high aspirations for AI, such as enhancing efficiency and fostering innovation, only a small percentage of business leaders feel adequately prepared to engage with AI technologies. The report highlights that data governance and quality are significant obstacles, emphasizing the need for organizations to address underlying data issues before embarking on AI projects.The episode also covers the FIDO Alliance's announcement at the Authenticate conference regarding the Credential Exchange Protocol (CXP), which aims to make passkeys portable across different digital ecosystems. This initiative, supported by major tech companies like Apple, Google, and Microsoft, seeks to standardize secure transfer processes for passkeys, reducing concerns over vendor lock-in. The growing acceptance of passwordless technology is underscored by Amazon's report of over 175 million customers activating passkeys, indicating a shift towards more secure digital practices.Host Dave Sobel contrasts the approaches of OpenAI and Anthropic in the realm of AI development. OpenAI's new O1 model family focuses on structured prompt generation for efficiency and accuracy, while Anthropic emphasizes a more conversational and engaging AI experience. This divergence in methodologies reflects the differing priorities of the two companies, with OpenAI aiming for structured outputs and Anthropic fostering a personable interaction style. Additionally, a study by Apple researchers reveals limitations in mathematical reasoning within large language models, stressing the importance of human oversight in decision-making processes.Finally, the episode highlights the need for organizations to modernize their cybersecurity strategies by adopting an identity-centric zero trust model. As hybrid work environments and AI technologies challenge traditional security practices, a zero-trust approach ensures that all access requests are verified, protecting sensitive resources from unauthorized access. Sobel also discusses the importance of fostering AI experimentation within organizations to bridge the gap between individual productivity gains and overall performance, encouraging a cultural shift towards embracing AI as an integral part of business strategy. Four things to know today00:00 78% of Businesses Struggle with AI Adoption Due to Weak Data Foundations, Says MIT Report02:12 FIDO Alliance Unveils New Protocol to Make Passkeys Portable Across Platforms03:56 OpenAI’s Structured AI vs. Anthropic’s Conversational AI: What It Means for Business Efficiency06:23 Why AI Experimentation and Zero-Trust Security Are the Future of Organizational Strategy   Supported by:  https://mspradio.com/engage/ Event: www.smbTechFest.com/Go/Sobel   All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessof.tech

A recent Accenture survey indicates that nearly two-thirds of businesses are planning to increase their investments in AI and automation over the next two years, driven by positive outcomes from existing initiatives. However, challenges such as data readiness, infrastructure, and skill shortages threaten to hinder successful AI adoption. Gartner's prediction that one-third of generative AI projects may be abandoned by 2025 due to rising costs and unclear business value adds to the urgency for organizations to address these gaps.The episode also highlights the growing concerns surrounding cybersecurity, particularly in the UK, where the National Cyber Security Centre (NCSC) has issued updated guidelines for multi-factor authentication (MFA) in response to rising cyber threats. With ransomware attacks reaching unprecedented levels, the Information Commissioner's Office (ICO) is investigating fewer incidents than ever, raising alarms about the effectiveness of regulatory oversight. The discussion emphasizes the importance of implementing strong security measures, such as MFA, to protect organizations from increasing cyber risks.Host Dave Sobel further explores initiatives aimed at bridging the skills gap in AI and cybersecurity. TD Cinex has launched the Destination AI Practice Accelerator to help partners enhance their AI-driven go-to-market strategies, while Breach Secure Now has introduced an AI Readiness Innovation Assessment to support small and medium-sized businesses in integrating AI into their operations. These programs reflect a growing recognition of the need for tailored support and training to empower businesses in leveraging AI effectively.Finally, the episode touches on the evolving landscape of marketplace-driven sales, as highlighted by Pax8's recent partner conference. With a significant number of European partners anticipating increased marketplace use, the need for service providers to adapt to new sales and procurement models is more critical than ever. As the industry continues to evolve, those who can navigate the complexities of AI, cybersecurity, and marketplace dynamics will be well-positioned Four things to know today00:00 AI Growth Fueled by High Expectations, but Gartner Predicts One-Third of Projects May Be Abandoned by 202505:15 UK Faces Rising Cyber Threats: NCSC Urges Stronger MFA Use, ICO Investigations Hit Record Lows07:36 TD SYNNEX and BSN Help Channel Partners and SMBs Overcome AI Skills Gaps with Tailored Programs10:20 Pax8 Unveils Voyager Alliance Program to Meet Diverse MSP Growth Needs, Emphasizes Marketplace-Driven Sales  Supported by:  https://www.coreview.com/msphttps://www.huntress.com/mspradio/   Event: www.smbTechFest.com/Go/Sobel     All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessof.tech

A recent GoDaddy survey reveals that inflation, taxes, and housing costs are top of mind, with 93% of respondents prioritizing wage and cost inflation. The survey also indicates a shift in voting behavior among small business owners, with many anticipating a significant impact from the elections on their future. Despite economic uncertainties, a majority of small business owners remain optimistic about growth in the coming year.Host Dave Sobel highlights the economic landscape, noting the potential distortions in job market metrics due to recent events such as Hurricanes Helene and Milton, as well as the ongoing Boeing strike. Goldman Sachs estimates that these factors could lead to a reduction in job growth, complicating assessments of the job market. RSM's chief economist predicts that October's job figures may show flat or negative growth, drawing parallels to the data fog created by Hurricane Katrina in 2005. This uncertainty underscores the challenges small businesses face in navigating the current economic climate.The episode also delves into the evolving landscape of technology investments, particularly in AI and cybersecurity. A report from TD Cinex reveals that channel partners are increasingly prioritizing AI-driven solutions, with nearly half planning to offer these technologies within the next two years. Despite facing challenges such as increased competition, the IT market is projected to see a 6.2% increase in spending in 2024. Sobel emphasizes the importance of balancing innovation with core technologies, as cybersecurity remains a top priority for partners.Finally, the Department of Defense's release of the final rule for its Cybersecurity Maturity Model Certification (CMMC) program marks a significant development for defense contractors. The new certification process aims to enhance the security of controlled but unclassified information, replacing the previous self-certification method. Sobel stresses the importance of data management for service providers, as compliance with CMMC requirements will create new opportunities for cybersecurity firms and compliance specialists. As contractors seek assistance in aligning their systems with NIST standards, managed service providers can play a crucial role in offering consulting and remediation services.Three things to know today 00:00 Inflation, Taxes, and Housing Costs Dominate Concerns for Small Business Owners Ahead of Election Day05:55 TD SYNNEX Report: Channel Partners Shift Focus to AI and GenAI Investments Amid IT Spending Growth08:32 Defense Department Releases Final CMMC Rule, Paving the Way for New Contractor Cybersecurity Requirements  Supported by:  https://www.huntress.com/mspradio/https://mspradio.com/engage/  Event: www.smbTechFest.com/Go/Sobel   All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessof.tech

Host Dave Sobel sits down with Collin Graves, CEO of North Labs, to delve into the critical realm of data governance and analytics. Northlabs has positioned itself as a data operations partner, akin to a data Managed Service Provider (MSP), helping organizations design, implement, and operate their data capabilities. Collin explains that their approach encompasses a wide range of data projects, including internal and customer-facing analytics, Internet of Things (IoT) solutions, automation, and machine learning, all aimed at accelerating an organization's data capabilities through a structured methodology.Collin outlines the three primary phases of Northlabs' project lifecycle: implement, operate, and innovate. The implementation phase focuses on assessing the current state of an organization’s data and identifying the initial business problems to solve. Collin emphasizes the importance of starting with a minimalist data infrastructure to build a solid foundation, akin to pouring concrete for a house. The second phase, operate, involves aligning people and processes with technology to ensure that teams are comfortable using data in their decision-making. Finally, the innovate phase allows organizations to explore advanced analytics capabilities, such as machine learning, once the foundational elements are in place.A significant aspect of their discussion revolves around data governance, which Collin identifies as a crucial component of building trust in data systems. He highlights that many organizations overlook this area, often skipping it in favor of more immediate solutions. Collin stresses that effective data governance is not just about ensuring data quality at a single point in time but about creating mechanisms that maintain data integrity over the long term. Without this trust, organizations risk reverting to outdated methods, such as relying on cumbersome Excel spreadsheets, which undermines the entire data initiative.As the conversation shifts towards the role of artificial intelligence (AI) in data analytics, Collin agrees with Dave's premise that solid data groundwork is essential for successful AI implementation. He likens the current AI landscape to the early days of cloud adoption, where organizations rushed to adopt new technologies without a solid foundation. Collin believes that organizations must focus on building a robust data infrastructure before fully leveraging AI capabilities. He also discusses the potential of generative AI to transform reporting and analytics, enabling users to query data in natural language and receive actionable insights without needing to become BI experts. This evolution in data interaction represents a significant opportunity for organizations to enhance their decision-making processes.   All our Sponsors:   https://businessof.tech/sponsors/ Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/ Support the show on Patreon: https://patreon.com/mspradio/ Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com Follow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftechBluesky: https://bsky.app/profile/businessof.tech