Business trends for 2021-2022
As the world moves past the halfway mark of 2021, it’s become rather obvious that certain global matters are going to remain with us for the foreseeable future. Whether we return to normal or we usher in a new normal, technology will be a strong and influential factor in the directions we take. As a species, we’ve always advanced side-by-side with technology, allowing it to segment into various part of our lives while also sprouting new business possibilities. Whether you’re an established business magnate, an entrepreneur or a fresh start-up, technology is one thing that you should always try and be on the cusp of. These days most businesses employ technology in one way or the other. It should also be noted that in many cases, old and established means of doing business have been completely refurbished by technology. With all this in mind, let us now examine which business trends are being affected and/or changed by technology as well as the global situation we all find ourselves in.
Working from home
Last year as the world faced a sudden shift in almost all forms of social behaviour, companies had to act fast and so did their employees when remote working became the norm. With lots of research now in the bag, many businesses are re-examining their business models. Are office cubicles still a must? Can the size of premises be downsized? Some companies even experienced a surge in productivity when their workforce was made to work from home. However, remote working has not been a one-size-fits-all scenario with many employees welcoming the opportunity to return to the office. As a result, 2021 has seen a re-imagining of the workspace – seating arrangements, sanitization stations etc. – as well as the proper outfitting of home workstations for those who would prefer to remain indoors. Outside of the physical changes, mental well-being has also been something that more companies are prepared to address in 2021.
Automation has been with us since Henry Ford decided that everyone should be able to drive a car. Wherever automation has been implemented, processes have been streamlined and productivity improved. Automation lends itself to both mechanical and software aspects of technology – the latter of which finds itself in almost everything we do online, be it FTSE 100 live updates to use in your forex robot so that you can trade automatically, or a chatbot assisting you on a website. After the reveals of 2020, businesses are sure to be looking at how and where they can remove people from a process where value is no longer added. 2021 is likely to see automation start expanding to white-collar workers to include doctors and lawyers.
Earlier we spoke broadly about technology’s influence in most sectors of life, however, to be more specific, 2021 will have a greater focus on Artificial Intelligence (AI) and augmented and virtual reality. AI and data analytics is sure to become more and more enmeshed as the year marches on. Businesses have been using these branches of technology to collect huge amounts of data for the purposes of machine learning, all leading to much better insights. AI and data allows bushiness to more effectively aim their marketing campaigns while also improving and refining their internal processes. Augmented reality(AR) and virtual reality(VR) are familiar concepts, but 2021 could be the year of actual business implementation – and not just by corporate, but by small enterprises also. The ability for these technologies to be used has become a lot more powerful since last year. There are VR casinos where one can wager and trade show exhibitions that one can now attend.