4. AUTOMATION, DIGITALIZATION, AND ARTIFICIAL INTELLIGENCE
2020 made it impossible to have human-to-human interaction due to unforeseen health concerns, and, therefore, contactless mechanisms of consumer and employee interactions are being widely used. 2021 will usher in automation, ensuring streamlined and smooth processes that delight both customers and employees. Artificial intelligence along with automation will definitely bring in some sort of a steady innovation for all firms regardless of their size, across any sector. There have already been quite a few shifts in this direction. Industrial operations along with manufacturing have been integrated with robotics and machine learning. This makes companies less dependent on the human workforce and simple, repetitive tasks that helps them gain a competitive advantage.
5. FROM BITCOINS TO DECENTRALIZED FINANCE
Due to the volatility and uncertainty of capital markets along with economic turmoil instilled by COVID-19, financial markets have been left unreliable. This has a series of repercussions for the businesses and organizations that want to source capital for expanding their operations or to build a new business from scratch. It could be done through crowdfunding or bitcoins. However, decentralized finance has emerged as one of the largest things since bitcoin. While the world was tackling the deadly COVID-19, blockchain made steady progress in decentralized finance. It will definitely tick the list of biggest business trends in 2021 due to its smooth facilitation mechanism of accessing capital.
6. VIRTUAL INTERFACES AND “TRY BEFORE YOU BUY”
People no longer shop in stores like they used to. Therefore, the onus falls on the companies to rethink and find new and emerging ways to interact with customers. And this is when virtual interfaces come to the rescue. Certainly, this is a game-changer for both the businesses and consumers. Just imagine being able to try on your favorite pair of dress or a lipstick shade before you buy it from the utmost convenience of your home. It will help satiate the customers for the price they pay and will make sure to keep the business in the game. Definitely this “try before you buy” will transform the business services drastically.
7. GO LOCAL AND BUILD BRIDGES
Geopolitical forces and the mobility-limiting pandemic has thrown a chunk of reasons for businesses to operate as local players, everywhere they are. Localized manufacturing of goods and services and their distribution adds an advantage to the local workforce along with environmental awareness. However, succeeding at this sort of localization will require new kinds of bridges and techniques to succeed and remain in force.