The future of business is here, and it’s full of new technological capabilities that make it easier than ever to start and grow your company in new ways. From artificial intelligence to big data to augmented reality, businesses are adopting new tools at an unprecedented rate, which has allowed companies like Google and Tesla to disrupt markets around the world. So what does the future of business look like? The answer might surprise you.
Future of Business
In a world where artificial intelligence and machine learning are becoming a part of our daily lives, how can small businesses adapt to keep up with technology and future-proof their businesses? Will we have bionic workers who can complete tasks in seconds, will digital assistants be able to schedule meetings for us without any human intervention, and will drones help us ship our goods quicker than ever before? How far away are these concepts and how can small businesses adopt technologies today to set themselves up for success. This post looks at futuristic technologies’ impact on current companies and offers some guidance about how they can get ahead of change rather than get left behind.
A focus on industry 4.0, automation, and universal basic income means one thing—we’re likely headed toward a future in which humans play a less active role in everyday life. The exact details are still being ironed out, but that doesn’t mean you can’t start thinking about how your profession may change in that environment. For example, what industries will suffer if machines produce more things than ever before with minimal oversight? And how will new opportunities emerge to replace traditional jobs? More importantly, what will people do when they have everything they need without requiring compensation for their labor? To help figure out where businesses are headed in 2030 or so, try looking at some case studies of things that have happened recently.
Future of Work
Where do you see your business in 5 years’ time? Where will you be 10 years from now or in 50 years’ time? For many businesses, it’s hard to predict what lies ahead. There are so many unknowns that it’s difficult to stay on top of them all. Businesses need to be able to adapt quickly and change direction when they see an opportunity arise. Being agile is vital for keeping your business moving forward into whatever form it takes in the future. Most people can agree that automation will play a big part in how we work, with computers performing more tasks than ever before.
Future of Customer Service
With chatbots and virtual assistants becoming more and more mainstream, we’re moving toward a future where customers can get their needs met without having to deal with a single human being. Sure, we’ve seen it before with brands like Tesla and Zappos, but we’re only now beginning to see how widespread such customer service methods will become. What’s really interesting is how brands will need to embrace artificial intelligence as they start handling increasingly complex questions from customers. For example, if you accidentally leave your credit card information out on a form or don’t finish filling out something important, perhaps an AI-driven customer service agent could pick up on that and ask you some simple questions to ensure all your information is safely accounted for.
Future of Leadership
The future of business is fast approaching, but it’s hard to say just what companies will emerge as leaders in their industries. An organization’s potential for growth has never been more wide-open, which means that everyone has an opportunity to seize the first place. If your company isn’t forward-thinking or you’re not prepared for global changes, then expect to be left behind. The success you have today will determine how your company fares tomorrow. Whatever happens, though, don’t lose sight of what makes your company great—because it could be all that matters in 5 years’ time.
The rise of the internet and online commerce has opened up a number of new opportunities for businesses and entrepreneurs. New business models and ways to monetize your products and services have begun to emerge in recent years, making it easier than ever to start a small business. And one could argue that we’re just at the beginning stages when it comes to companies experimenting with how they sell things online—it’s only going to get more creative from here. Businesses will continue to innovate by exploring what new products, technologies, or ways of marketing can help them generate revenue in an increasingly competitive marketplace.
Future Business Models
It’s tempting to think about new business models in terms of technology—after all, we’re in a tech-savvy age. But some futurists and thinkers, such as Peter Drucker and Alvin Toffler, see it differently. They believe that future business models will be based on more conceptual concerns, such as ideas that have been developing for decades: an emphasis on being rather than having, psychological management techniques, changes in leadership structures, and a blurring between public and private life. In short: Future businesses won’t just revolve around new technologies; they’ll revolve around new ways of thinking.
To help predict and prepare for how technology will shape our world, we’ve invited three leaders from across fields to share their thoughts on some of today’s most pressing issues. They are Michael Bloomberg, Former Mayor of New York City; Andrew Ng, CEO and Co-Founder at Landing AI; and Brian Blau, VP & Research Director at Gartner. We talked with them about their predictions for future innovation in cities, AI/Machine Learning applications that will impact individuals’ lives in 20 years, and economic equality issues facing underprivileged communities around the world. Read what they had to say below! Q: How will cities change over time with respect to technology innovation? A: By 2025 there may be 100 million self-driving cars.