7 Major Business Trends to Pay Attention to in 2020

7 Major Business Trends to Pay Attention to in 2020

Savvy entrepreneurs and executives take pride in their vision. Great leaders are always looking for how market, technology and consumer behavior will change over time. Great leaders also embrace the ever-changing reality. They use it advantageously and do not resist change.

The first quarter of the new year is a good time to imagine how markets and innovations will change in the future. Which technologies will be invented and which technologies will be adopted in large quantities? How are consumer needs and needs changing?

These questions will help isolate the key trends of the New Year, predict how they can improve or hinder the industry, or create new opportunities that most people haven't seen yet. 

Below is a list of some of the technology sectors that can dominate 2020 in terms of innovation, adoption or infrastructure.

1) Artificial Intelligence (AI) 

AI is everywhere. The reason AI explodes is because the application is almost endless. It has the power to influence all digital markets, from cyber security to health care. 

It is expected that AI-based solutions will continue to focus on fundraising, acquisitions and talent competition. LinkedIn said the AI ​​expert position is one of the fastest growing positions in 2020.

Some of AI's prominent applications include smart assistants, chatbots and autonomous vehicles. However, savvy entrepreneurs and executives need to think about how AI can change industries or create new ones. If you are already in business, you should also think about how AI can interfere with you.


2) 5G

5G It is the eternal buzzword of the tech community. It is acclaimed for the latest industrial revolution (despite more technological advances than innovative new technologies) and supporters are in every corner to advocate for all speed and new features. 

The trend to keep within 5G is how operators and phone manufacturers each invest and successfully deploy networks and phones in 5G infrastructure respectively. Also consider how cellular signals as fast as Wi-Fi can power your products and solutions. 

Finally, predict what new solutions are possible and decide how to build them now for the future.


3) Retail technology

There's no question that traditional retail was heavily influenced by Amazon's e-commerce dominance. It seems like an almost unpredictable conclusion that the sleeve is dead. But is it? 

New technology can save retail cost. Computer vision, machine learning, and artificial intelligence can now analyze data from cameras and sensors to recreate the shopping experience and increase new efficiencies. 

San Francisco-based startup B8ta has proven that technology can create new shopping experiences. 
Their retail stores use a variety of techniques to enhance their offline retail experience, as well as learn more about customer engagement and product sales. Amazon also showed how the future store looks through the Amazon Go store, which allows customers to perform an automated payment process.


4) Edge computing for video

As more and more devices connect to the Internet, the demand for server infrastructure continues to grow. This is especially true for video camera-based solutions that require continuous video streaming. 

Video providers can significantly reduce server costs by moving computing to the edge and add key features that were previously impossible. Investors have seen this and have flocked to start-ups offering platforms for artificial intelligence, computer vision and machine learning. 

There are many things in the cloud, so look for a transition to edge computing. The trend is to add new features to save money.


5) Smart Home: Software is new hardware

Major acquisitions and the fact that current hardware is everywhere slowed the pace of innovation in the smart home industry. Of course, everyone is talking about 5G, and big companies are still participating in smart homes, but there are very few remarkable stories this year. 

The main areas to see in terms of growth are software, services and international growth. It's clear that hardware is now everywhere, and now its value is in what you can do with it. We expect businesses to explore computer vision, machine learning and other home service routes. 

In terms of international expansion, the Asian market is the best area for subscriber growth. Wise companies are seeing expansion in Japan, China and Korea.


6) Autonomous Vehicles 

This new automotive industry category dominated CES 2020. Industry size and growth potential focus on automakers and technology providers. There are many opportunities in the B2B and consumer markets. 

It is unlikely that computers will be used in the next two or three years, but this industry continues to attract huge investments and top talent. Industry may experience integration. One thing is certain: this industry will be the annual best technology trend for a predictable future. 

The obvious place to focus is on driving skills, but don't miss the new opportunities created by passengers who no longer need to focus on driving. Discover new services and features tailored to health, focus, entertainment, comfort and productivity while someone is driving in the car.

7) Finance will continue to decentralize

At first you hear "finance" and "distribution" and you can immediately think of cryptocurrency. It certainly applies to the 2020 trend, but there is another trend to pay attention to in the financial and investment sectors as well. 

In traditional finance, we are seeing a shift in power as individual investor empowerment. Start-ups like Robinhood are creating a wave of new amateur investors (especially Millennials), and most of the major traditional brokers (Schwab, TD Ameritrade, etc.) fell or stock trading fees and commissions fell. 

Given that the new robotic trading solutions outperform securities brokers and hedge funds, it is easy to see that we are entering a more decentralized new financial wave than ever before. Power is moving to retail investors.

* Final Word *

What should I do with this information? It depends on the situation. If you have a business, consider how these trends will help or hurt. To start a business, consider how these trends will create new consumer needs and desires. Watching the future increases your chances of success.

     
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