Looking Ahead: Top Issues Impacting The Tech Industry In 2017

As technology continues to reshape how business gets done and the way people live their lives, there are many reasons to be excited about the tech industry's prospects heading into 2017. The more than 300 executives, investors, and advisors that recently convened in Boston for Foley & Lardner's annual FoleyTECH Boston 2016 conference, discussed the opportunities in the current marketplace, as well as the key challenges facing companies in today's dynamic data-driven economy.

Here are the highlights from the event's two keynote speakers and six panel discussions.

1. Information Security Rises Above the Fray

   Amid continued cyberattacks and rising volumes of data being generated and curated by companies, information security is a top priority for most organizations. Recent advancements - including Internet of Things (IoT) technologies and autonomous features in vehicles - have created new and unique challenges that affect the business models and risk profiles for those active in these spaces.

   According to a panel of industry experts, IoT devices and systems expanding the points of entry into even the most protected homes and businesses, while also increasing the amount of sensitive data that can be collected. The panelists unanimously agreed that building security systems from the ground up is critical, as well as reconsidering the types of data worthy of protection due to more sophisticated consumer bases that are demanding to know when, how, and why their data is being collected, used, and shared.

   Featured lunch keynote, Carlos Bhola, managing director of Celsius Capital, discussed the social, economic, and legal implications of the growing market for connected and autonomous vehicles. He noted that privacy and security issues are even more prevalent with the potential for hackers to take control of a car and the ability to track and collect copious amounts of information on drivers.

2. Finding Capital and Timely Exits

   Later in the day, a panel discussion entitled "Exit Stage Left: Liquidity Success in Today's Economy" focused on entrepreneurs seeking funding and strategies for successful exits. As one panelist aptly put it, "We are currently in the late innings of the best M&A market of the last several decades and many sellers are concerned about missing the high-value window by waiting to pursue an exit." The panel also weighed the pros and cons of engaging strategic investors versus financial buyers in terms of retaining a company's...