Technology and innovation are driving the evolution of most businesses these days. Here are some of the key business trends to watch out for in 2018.
Blockchain and cryptocurrencies
A blockchain is a digital, decentralised, public ledger of all cryptocurrency transactions. Blockchain is a way of bringing trust and transparency to the way businesses operate online, while mitigating many of the weakest points in existing processes. Cryptocurrencies such as Bitcoin are receiving a lot of press coverage. These online, digital currencies use blockchain technology to facilitate payments. Both are likely to be a big trend in 2018 and beyond.
Artificial intelligence (AI)
AI has developed in 2017 and looks set to continue to do so in 2018. Businesses are starting to find ways to utilise this technology in terms of automating tasks and creating efficiencies. Some are starting to use AI to automate document assembly or to analyse large data sets. Businesses are experiencing cost pressures and AI is front and centre when it comes to finding ways to deliver more with less cost.
Millennials move into management
Millennials are no longer children – the oldest of them are now 35. Millennials are starting to take leadership roles within businesses and in addition to managing their peers, they will soon be managing Generation Z employees. It will be interesting to see if Millennial managers complain about Generation Z as much as Baby Boomers and Generation X complained about Millennials.
Cloud computing will continue to develop
Software as a Service (SaaS) created a flexible opportunity for businesses and consumers to try out early cloud services. The growth of infrastructure and platform as a service (Iaas and PaaS) have expanded the number of cloud solutions available in the public and private sectors. Cloud based file storage will likely continue to be a big trend and this should drive ongoing developments in the cyber security sector.