Emerging Innovative Trends In Business

One would say that the pandemic has disrupted lives and economies all around the globe, but it has actually birthed new trends in the business sector that could pose a greater advantage to businesses than even before the pandemic. Many businesses have had to review their policies and staff strength which has led to downsizing and in some extreme cases, business closure.

For forward thinking businesses, this year will bring a number of big changes to virtually every industry if they can capitalize on some of these major trends.

MACHINE LEARNING/ ARTIFICIAL INTELLIGENCE

The implementation of machine learning and Artificial Intelligence (AI) for one is being vastly adopted by businesses during this period. We see the rate of growth of artificial intelligence much higher than we would have expected. AI helps humans, and you can see significant improvements for efficacy in everyday life which drives customer experience. It is being used in healthcare to allow patients to receive safer and efficient care to prevent disease; in companies to solve the companies’ statistics quickly in an accurate way; and for cybersecurity, to create a baseline and awareness of threats amongst others.

USE OF DRONES AND 3D CAMERAS

Increased use of drones and 3D cameras has also been a recently but heavily explored trend especially with the social distancing stance all over the world. Delivery of high quality services has been maintained using these tools making sure that end users or customers are still receiving premium service even when certain businesses are operating remotely. In the real estate sector, virtual inspection is the new normal.

MOBILE MARKETING

Mobile marketing will be used more creatively and it is one trend that will surely grow in 2020 and well into the future. More businesses have been forced to consider getting into the world of social media and mobile marketing especially with the ongoing pandemic because most of their target audiences have also been forced or redirected to exploring services on these platforms. Geo-targetting to provide targeted ads to customers; creation of company apps to share promotions and updates with customers; SMS and text marketing; livestream videos on social accounts are some of the activities being adopted at this point in time.

CONCLUSION

Change is inevitable. While not all of these trends will be beneficial to your kind of business during this unique time, each is worth exploring if you want to see growth – both in the short term and long term.