Digital transformation has accelerated by six to ten years as a result of the pandemic experienced in 2020. So all the trends for business innovation in 2021 are related to this situation. We’ll look at some of them in this post on the major trends for the current decade.
This year is full of innovations for various business sectors. It’s now clear that digital transformation is inevitable for any company, from those selling homemade goods to companies that allow you to get an essay writing service. The first step for all companies at the beginning of the year is to jump on the technology bandwagon.
Business innovation trends that will transform in 2021
More globalized competition
Everything has become more global, and the digitalization of companies has increased competition regardless of their location. It implies a paradigm shift for everyone, except those that require a physical presence, such as a workshop.
The benefits of the cloud have been evident in 2020. From the first moment that the pandemic emerged and we began to telework, those companies that were already using the cloud were able to react quickly to the situation and move forward in the face of the uncertainty that was being experienced. Therefore, in 2.021, using a cloud will be paramount and one of the most important trends. Flexibility and agility are one of the reasons why it is advisable to use a cloud.
Telework and decentralization
Telework is here to stay and will coexist with new hybrid forms of collaboration.
Those companies that adopt teleworking correctly and know how to manage the organization remotely will have significant competitive advantages, although there will also be challenges to face. Hybrid solutions in the medium term will help solve teleworking causes for some workers and companies.
Algorithms and automated decision making based on metrics take control of everything. Creating a profitable growth model and identifying the right metrics will be critical.
Artificial intelligence is a set of numerous technologies capable of providing solutions to increasingly complex problems. Some of the technologies with significant influence on formative intelligence development in 2021 will be AI-assisted design, augmented AI development, ontologies and graphs, small data, composite AI, and generative AI.
Voice-enabled digital assistants
Throughout this year, many people have needed to feel accompanied during pandemic confinement. For this reason, during 2021, the feeling of wanting to be attended will be seen as a must-have. Digital assistants will come to us. We will be able to see them everywhere. Most likely, manufacturers will succeed in developing voice user interfaces with advanced emotion recognition and transfer capabilities. In addition to accompanying people, companies will be able to use them to increase customer satisfaction.
Simultaneously, neural systems for speech and text reproduction will leave us in no doubt as to whether it is a person or a program that is speaking to us.
Internet of Things (IoT) and 5G
Although we have already witnessed how, through applications connected during the last few years, more efficient and intelligent information and knowledge networks are created. Throughout 2021 this technology will begin to reach its full potential in the embrace of 5G.
The long-awaited arrival of 5G opens up a world of opportunities for a hyperconnected world. The data we will manage will be enormous and will allow us to develop innovative solutions and improve management to a level never dreamed of before.
Robotic Process Automation
RPA (Robotic Process Automation) solutions have been the great unknowns of enterprise automation. Its approach proposes a different approach to process automation because it does not aim to change processes and automate them. It does not seek to address all processes, just one. Throughout 2021, it is an approach that will allow value and not only financial results to be obtained.
Cybersecurity is dominating the priorities of all organizations as they adapt to the new normal. By 2021, teleworker identities and devices must be hardened with cybersecurity.
Virtual Reality and Augmented Reality
Other business innovation trends to watch out for in 2021 are virtual reality and augmented reality. Virtual reality immerses the individual in an environment, while augmented reality enlarges the users’ environment.
It is predicted that during 2021, companies will use this trend more in their marketing strategies to make more substantial and more lasting connections. As the world adapts to the new usual constraints, AR can play an essential role in our daily interactions.
Some studies say half of the consumers are willing to pay more for a product if it offers the augmented reality experience.
Due to the growth of machine learning, chatbots have become extremely popular in small and large businesses. Typically, chatbots are used in customer service. They are a set of immediate responses in chats or web pages that help resolve queries. They are simulations of conversations having more responsive, smarter, and more human conversational agents.
Today’s chatbots are more advanced thanks to artificial intelligence and are becoming more and more human-like. They are now better suited to converse with customers as company representatives offering more speed and efficiency.
Now it’s your turn to make the most of these business trends if you are looking to take your company to the next level or train to become a world-changing manager.
Purposeful and sustainable companies
The sustainability development objectives are increasingly taking root in companies and consumers who are becoming aware of the need to take care of the planet we live on.