trends in business

Technology and innovation are moving at a staggering pace.

Business leaders are working hard to keep up with the latest trends while also offering employee education plans to ensure their workforce is ready to adapt for the future.

New trends are affecting business and society at large every single day. Staying on top of these trends and preparing for the next big trend make up just one aspect of business planning.

Is your business working to stay ahead of the trends or do you find yourself playing catch up as new buzzwords and technologies take over the world?

Here are some of the new, rapidly growing business trends that are sweeping the world by storm.

1. Blockchain Is Disrupting Many Different Industries

You may have heard of blockchain. It’s not a brand new technology but it has grown rapidly in recent years. Probably the most well-known use for blockchain is cryptocurrency mining and trading, like we see with Bitcoin.

How does blockchain work? Well, that’s almost an entire article in itself. To put things incredibly simply; blockchain is basically a public ledger that can be used for a variety of types of information.

Financial institutions, health care providers, real estate companies, and more are all dipping their toes into the potential of blockchain. This means having staff trained to, at the very least, understand what blockchain is.

Is your employee education keeping up with the rapid development of blockchain?

2. Artificial Intelligence Is Getting Incredibly Smart

Artificial intelligence has been around for years but increases in computing power and efforts to grow artificial intelligence applications have allowed the technology to grow rapidly in recent years.

One of the biggest developments in artificial intelligence is machine learning. AI is now learning and teaching itself rather than simply acting on what human developers have told it to do. One of the most amazing examples of this is Google’s AlphaGo Zero AI teaching itself to become a better “Go” player after already defeating the world’s best human player.

In the business world, AI could take over customer service. In fact, this is already happening in some companies where chatbots are used to interact with human customers online.

3. Automation Will Make Our Jobs Easier

A lot of people fear the rise of automation in the workplace. The fact is that automation is a long way away from replacing humans entirely. What is more likely to happen is that automation software will begin to take over repetitive or mundane work tasks in order for humans to work more effectively.

What does this mean for your workforce? Since automation will take away some of the “grunt” work, humans will have to focus on the person to person connections that will allow business to grow. Employee education around interaction, sales abilities, and working with machines will become incredibly popular in the coming years.

How do you plan to have your team adapt to automation? Will you embrace the help of technology or will you watch it pass you by?

4. The Mobile Workforce Continues to Grow

Chances are that your workforce already uses a lot of mobile technology. Answering calls on-the-go, writing emails from anywhere, and even video chatting with other team members around the world are a common occurrence in today’s business world.

As mobile technology continues to progress, we are likely to see more of an emphasis on mobile workforces. Customers will increasingly expect services to come to them and your employee education program will have to match that expectation.

The growth of freelance or the “gig economy” will also continue. Businesses will need to move into new technological areas and likely opt for mobile freelance staff to fill the gaps rather than hire dedicated staff on a limited, streamlined budget.

5. Voice Search and Personalization Using Data

It almost feels as if it happened overnight. A few years ago, you had never heard of Amazon Alexa or Google Home and now there are a large number of households with at least one of these devices. Users are speaking to these devices to do everything from restocking toilet paper to turning on their lights, to ordering delivery for dinner.

While this is happening, tech companies are collecting mountains of data to provide more personalized experiences for their users. In fact, a lot of analysts believe Amazon knows what you want before you have even made a purchase.

How can modern businesses take advantage of this kind of data? Are you offering personalized services to compete with the offerings consumers are being given?

Whatever Happens Next, You Will Be Ready

Technology is moving so fast that it’s almost impossible to predict what the next big thing will be. However, there is one quality that all businesses should have and that’s adaptability. A willingness to embrace and adopt new technology before the competition will be the key to success for businesses in the coming decades.

Employee education is essential to creating an agile workforce. As other businesses adopt blockchain and a freelance workforce, will your workforce be able to adapt as well? You may not be able to predict the future but you can have employees that are ready for whatever may come their way.

At Mooney Lyons, we have been trusted by businesses to help ensure their employees are ready to the next big thing. Employee education is just one of the services we can offer to help your business jump into the next generation.

Want to develop an employee education strategy that will take your business to the next level as technology continues to evolve? Contact us today and talk to one of our Mooney Lyons expert business advisors.

The opinions voice in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.