What are the four key trends businesses need to keep an eye on this year?
How important are future trends and how should businesses prepare for the opportunities and challenges that come along with them? This is the question we asked over 1,700 business leaders around the world. Here are the four trends those conversations revealed:
- In the digital ecosystem, trust is paramountThe leading concern for businesses was gaining and maintaining the trust of their customers. Keeping up with technology was their next biggest concern and losing vital business data ranked third. Success will come exclusively to those businesses which demonstrate trustworthiness in 2019.
- To get ahead of the competition, make ethics a priorityBusinesses around the world have begun to notice the very tangible connection between business profit and brand purpose. Price is no longer the sole consideration for customers. In 2019, social, ethical, and political motivations of a brand will guide a customer’s buying decisions.
- Humanity and technology are reaching a balanceA key part of effective business management will be to strike a balance between a human-centric workforce and the scalable efficiency of Artificial Intelligence (AI). Our research uncovered that most businesses are excited about the future (86%), and particularly optimistic when it comes to technologies like artificial intelligence and machine learning.
- Disruption led by technology will put people at the center of businessThe blinding speed of technological progress has led to a culture of instant gratification. As customers’ need shift constantly, the need to connect, fulfil and adapt to their need is paramount for businesses if they want to stay competitive.
2019 will be a year of complex challenges and sea changes in the way businesses listen to and deliver for their customers. But this will provide a healthy springboard for success and profitability. Only by embracing these trends will businesses be able to rise above the noise and hear the cash registers ring in 2019.
To find out more read our Global Trends Barometer report for 2019