AI startups suck in capital, time to get off Windows 7, and eight other technology developments that will impact your clients and your firm.
1. Tax prep companies can’t hide their free filing software from Google anymore
Why this is important for your firm and clients: Taxpayers who are paying software companies a fee to file their taxes really shouldn’t be. There are plenty of free services available to do this — and even the IRS plans to get in the game.
2. Receipt Bank raises $73M
Why this is important for your firm and clients: Receipt Bank is one of a number of back-office processing applications that leverage technology that can extract data from an image (e.g., a vendor’s invoice sent to you as a PDF) and migrate it directly to your accounting system with little human involvement. I’ve recommended products like Receipt Bank to clients who are looking to increase office productivity and lower overhead.
3. AI startups raised a record $18.5 billion in 2019
Why this is important for your firm and clients: Follow the money, right? If almost $19 billion was invested in artificial intelligence in the past year, both businesses and consumers can expect to see a lot of this research and development turning into real life technologies in the coming year.
4. Microsoft recommends 400 million users buy new PCs by next month
Why this is important for your firm and clients: OK, no one’s saying that you have to buy a Surface. There are plenty of other great devices you can get for your business that also run Windows 10. But please … if your company still has computers running Windows 7, you have to do something. Upgrade. Switch to new devices. Turn them off. Computers running older operating systems like Windows 7 are very vulnerable to malware attacks, which means that the cost of not upgrading could very well exceed the cost of replacing those older computers.
5. Google is planning to kill support for third-party cookies
Why this is important for your firm and clients: This is a potentially big deal. Cookies from third parties are at the core of many brands’ efforts to track visitors and drive ads to their attention. If your firm or your clients do online ad campaigns or use retargeting services to drive traffic to your website, then Google’s potential change could impact your marketing plans. Stay tuned.
6. Amazon is reportedly developing hand-scanning technology
Why this is important for your firm and clients: Fingerprints, retina scans, embedded chips — now hand scans. Biometrics are coming into the mainstream and the security advantages of these types of access methods are significant. My expectation is that your password will soon be as old-fashioned as the telegram by the end of the decade, so be prepared to consider these new security changes in your business over the next few years.
7. The PC market saw rare growth in 2019
Why this is important for your firm and clients: If Microsoft has their way, those 400 million buyers (see above) may also have an impact in the near future! Two thoughts on this: Because PC sales have dropped so dramatically over the past decade, growth was inevitable because things can only drop so far. But, secondly, it’s good news. As things have shaken out in the hardware market, it’s clear from what I see at most clients that businesses do need PCs and laptops and that tablets and phones can’t do it all. So go ahead: Get that new PC.
8. The Venmo app went down
Why this is important for your firm and clients: In this world of cloud-based applications that are vulnerable to power, security and usage issues, it’s important for small-business owners to always have other options. That was a hard lesson learned by those owners and freelancers who only accept Venmo. They were without cash during the service’s outage. They shouldn’t let that happen again.
9. Starbucks offers a meditation app to their employees
The app — which is a subscription service — includes specific programs designed to help individuals with anxiety, stress, as well as many other mental health issues. The addition of Headspace is the most recent move by Starbucks to support mental health. (Source:
Why this is important for your firm and clients: I’m not going to weigh in on whether it’s stressful to work at Starbucks. (OK, I will — it is.) But that’s not why this story is important for your firm and clients. What’s important is that Starbucks is one of a number companies that are offering apps to their employees for health, wellness, financial planning, productivity and yes, mediation, as a relatively inexpensive perk. Not a bad idea for you, is it?
10. Mevo announces livestreaming video camera
Why this is important for your firm and clients: I’m a user and a fan of Mevo because their technology is affordable and provides a quality product. If you’re social media and online activities include making videos, then Mevo is a great technology to consider, and the product’s new features make it even more attractive.
Note: Some of these stories also appeared on Forbes.com.