Up and Coming Business Trends for 2018

Up and Coming Business Trends for 2018

Up and Coming Business Trends for 2018

The world of business is an ever-changing environment. If you are not willing to adapt to its rapidly-changing pace, yours could be left out to obsolescence.

You had probably seen businesses which thrived for a while, only to end up closing or being absorbed by a bigger, more capable business of similar kind. Even in trade, it is the survival of the fittest.

With 2018 having arrived and we are but midway to 2019, the business world had manifested probable changes that may be a dawn to a new age in commerce as we know it.

1.The birth of Augmented Intelligence

Machines may be an efficient worker than any person by a long shot. But when removing out the human element in the equation is not possible, the seamless complement between man and smart capabilities of the machine makes for a more probable option—the so-called augmented intelligence.

Augmented intelligence happens when an A.I. plays a crucial role in boosting a worker’s ability to do work as a working tool. Although the application of this trend is subtle, there is an ongoing pressure among workers to overperform from across different industries.

2. Artificial Intelligence going mainstream

While still regarded as an infant which offsets the fear of real-life machine robots taking our jobs, the artificial intelligence as applied in business is getting more and more mainstream.

Giant tech companies like Google and Microsoft are unsurprisingly at the forefront of artificial intelligence development while other companies like Apache, Berkeley AI, and Amazon following suit.

Although it is not immediately straightforward how A.I. would help an average business in the trade, those who pioneer on its progress are significantly at an advantage than the spectators who are obscured about it.

3.Automation making new history

At the core of every big industry are the machines which do all the supposed hard work seamlessly and with efficiency. But this sort of technological feat would not be possible if not for automation.

Although the idea of letting machines do their work with little to no assistance is nothing new in the business world, automation is not necessarily perfect as it is.

Testament for continued growth and innovation is the fruitful collaborating project between Budweiser and Otto which made the first ever automated delivery truck which had managed to traverse a total of 120 miles from Fort Collins to Colorado Springs on its first kick run.

Building a self-delivering truck, however, did not come without a price. Specifically for this Otto and Budweiser joint project, it took an expensive $30,000 worth of hardware fitted into a truck to make it a fruition.

If anything, this is a major game changer for the trucking industry which apparently are in deficit of needed truck drivers but nevertheless bustles a large portion of America’s freight.

Unlike artificial intelligence which is still set for maturity, the fear for a well-implemented automated capability is not unfounded. Day after day, traditional jobs are being lost in favor of this business-efficient feat.

For instance, food chains like Wendy’s and Pizza Hut are already employing robots in some of their business functions thereby making human employees doing simple jobs rarer than expected.

But that was just speaking of automation alone. With somewhat a connection to Augmented Intelligence, automation is also expected to evolve into becoming a true Artificial Intelligence capable of thinking on its own. This human-like capability, should it happen, is bound to shake the world of business as we know it—ultimately becoming a unique organism of its own.

Yet, when the intellectuals think that they would be safe with their marketing job in spite the hullaballoo in the A.I. world, HubSpot claims otherwise as it listed the many possibilities by which A.I. can take on the marketing roles by itself. Yes, that’s a future about machine throwing you ads and contents based on your perceivable internet behavior.

4.Experience over quality

Many organizations were born and had thrived in the idea of satisfying their loyal customers with quality products. Many companies to this day are swayed by this belief. But as customer interest is shifting towards unique experience over quality products, many organizations are still looking to serve something which clients are going away from.

This is not to say that customers are ridding themselves of interest on newer and better-quality products than they currently. It is merely only a shift to another undertaking which might be more satisfying than the ones they were pampered with— a unique experience.

Aptly called the “Experience Economy,” people nowadays remain interested in new thrills than what they frequently encounter, be it going on a trip, a concert, or a date. But this does not mean that tech companies should already close shop and venture in the entertainment industry instead. No, even “experience” can be sold a different way, like adding a human element in the product.

Take the Nike brand, for example. It may be about sports shoes but Nike is a company which knows how to sell experience by incorporating a story to its advertisement which, in a way, builds a connection to its target market.

5.Extinction of the brick-and-mortar shops

The lucrativeness of the online commerce has not only give rise to a seasoned platform like Amazon in the business, it also is breaking down on the traditional stores which people from the early 21st century backward have known and love.

But the rise of the e-Commerce business is only a part of the problem. With the number of middle class in the United States going on a decline, the rising trend with the experience economy coming at a dawn, and massive debts accumulating in the retail industry as other factors to consider, the traditional brick-and-mortar store is slowly dying.

6.Adaptation of the Blockchain technology

To those who are in the loop about cryptocurrency, blockchain should ring a bell as that revolutionary technology which makes everything about the cryptocurrency trade so reliable and secure, basically free from anomalies common to other systems not reliant on the same technology.

But blockchain is not only exclusively-used for cryptocurrency transactions across people from all parts of the global, it is also applicable to other aspects of business, like in healthcare.

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21 Comments

  1. Erfem Donasco

    Artificial intelligence will cause boardrooms to rethink their core strategy. Every business have to evaluate how successful the businesses will be, dealing with Artificial Intelligence in the future of work.

  2. Mark Gadayan

    Technology can really make life easy but of course it cannot replace the human capabilities. Each business will matter, every business requires also different type of technology.
    If i am the owner or manager of a business, in order not to get behind and to take my business into nothing, well, definitely i will invest on this machines and technologies to cope-up even if it will cost me a lot. But when we talk about “human power” i call, i will surely not replace it to this heartless inventions. In the Philippine setting, it still need the human element. Simply because human are much more effective in interacting to human than a robot can do. Human have feelings and that is what we need, someone who can also feel what we feels, knows what we need and makes us laugh when we are sad. We still need the human touch.
    Human element plus the use of technology, work will be so fast and easy. This can already lead in the provision of excellent services.

  3. lanie mae de los reyes

    We all know that in today’s technological era, for most of us technology is now a necessity as we use it in our daily routine because it makes our life easier and convenient. As well as also for the businesses, in order for it to be successful and competitive with other competitors, it must accept and cope with the fast pace technology development. As a business owner or manager I will use this in promoting and marketing my business as most of the people now a days depends on technology even in purchasing goods and services. Technology is a big help for my business because through this I can communicate with my customers easily and feedbacks is just one call or text away which is also one best basis for improving my products or services.

  4. Lemon Grace Ratone

    The world is ever-changing. We must be in a state of constant evolution to keep up. We do this because the world around us is always evolving. Such is the pace of innovation that a new product launched today can become obsolete within a matter of just a few days. And there is no other remedy for this but to cope up with these technological advancement and trends, creatively and innovatively. As the business manager, in order for me to be abreast with the changes, my leadership styles should also be improved. The success of the business lies with good decision making of the top management together with the proper training and guidance to its employees. Along with leadership style, work environment should also be redesigned to cater the needs and wants of the new trends. It must be a collective idea from the management and employees for best results. Lastly, I will used technology as my edge over other business to innovate quality and efficient goods and services that will provide the client the best experience, which will define my business over others.

  5. Marianne Trexie T. Bathan

    We can never go away from technology. It continues to make things easier and we are all dependent on it. So, if I were a business owner, I would research more on what is fit for my business. I will use technology to make my business more profitable. Adapting a new technology may lessen the costs of a certain process thus, increasing the profit margin. Upgrade processes if it’s a must. On the other hand, machines aren’t 100% reliable. Machines are also dependent on us humans and we are always the accountable ones. Though we’re all amazed how technology advances, we should always weigh our options. If it’s beneficial, then say yes.

  6. Geiczar Ross D. Real

    In my humble opinion, there will be only two types of problem when facing the rapid change of technology – the human resource and the cost; these two factors come hand in hand.
    Human resources are essential due to its necessity for the navigation of the technology using. Recruitment or selection of the right and fit people for the designated job role is quite critical due to the demand of technology. In this generation, the Millennials are the most technologically inclined and utilizing their knowledge, skills and capacities in these fast-paced changes in the arena of technology could be advantageous to the organization.
    Training programs are exquisitely essential to be in sync with the fast-changing technology. In lieu with training programs, there is an emergence of costs like labour, technology and time. Efficiently and effectively utilizing the cost could make a greater advantage and can be considered as a competitive edge to others.
    Therefore, acting as the manager and owner of the business, weighing and balancing the two factors mentioned above and its functions could make a great benefit or advantageous to my terms and can be a market competency.

  7. Jholina B. Indac

    If I were a business owner, I must adopt also the fast pace technology arising in our world today. People tend to follow what is trend and by influence with the society. Since almost of business have their own system paying large amount of money try to be more accessible and systematized work flow and exceed customer satisfaction by providing exact data.

    We can’t avoid competition , we left behind of we don’t follow trend. Technology can make our life easier, almost of us depend in technology, easy access and we work more comfortable.

  8. Gekka Kaye Eusebio

    Change should always be the top priority of a business. To be able to cope up with these changes, as an owner/manager, I need to keep on reading or be updated on the latest trend and have that curious attitude. I also need to assess my business, the people as well as the technology being used. Today, clients/customers are so demanding and really look into the service you are giving them. Having up to date technology in the business is an advantage but you should make sure as an owner/manager that it is the right one for your business to not waste resources. On the point that you have now better technology to serve the clients, I am now going to focus on the employees. Employees should also be given trainings and seminars so they will not hesitate for any changes being made. How can we use the technology right, if the employee doesn’t know how to operate it, right? In that way, both technology and the employee will be able to be efficient and productive for the company. Thus, serving the clients with the best will be a good feedback to the company.

  9. MA. JOYZEL UBAL

    We are now in the 21st century and being in this era means being surrounded with new and ever so fast pacing technologies. Along with these mushrooming trends in business that has everything to do with technology, as a business owner I can make use of that to give satisfaction to my clients or customers. These new technologies like AI and augmented reality may come at a price but lets face it, having these kind of things can attract a LOT of people and would surely make a buzz for the benefit of your business. So if I can afford for just one automated machine for the mean time, I may spend and do so because I know that eventually this will be an asset for my business. But it will take a lot of study of the pros and cons of this technological leap for my company first before I decide to venture into automation, one machine at a time. Just to cope with the times, I will do it but I will also make sure that I still maintain the original concept that had my long termed customers kept coming back.

  10. Ma. Celina Venus-Mijares

    Technology has been a gift to us. It is doing nothing but just be more advanced through time. It has been a major help to business owners, in fact. We now practice paperless communications. We opt to use machines in replace of manpower – leaving output get done much easier. We dwell with information technology in accessing data fast, leaving everything on the tip of the fingers. Today we are living with so much choices. So this is what we practice too, in the pursuit of a better business. We give our clients options. These options are the exact things we also use to gratify our goals and use it to our benefit. We are being served with countless and limitless ways to address our individual pressing concerns.

  11. Gene Claude Mapa

    The emergence and trend of technology had brought many changes in the corporate world. The success of their operations is too dependent on the type of technology being incorporated. Businesses should adapt and shift to the latest development in technology. They should be ready to invest to cope up with the fast changing processes and methods. Companies should select the most optimal type machines which will benefit the entire organization. Of course, in making decisions, entities must be aware of the cost-benefit when they employ this type of machines. Business enterprises should also see if the new technology introduced will not affect the companies’ human resources. The effort of the natural person still matters. Employers should conduct proper training in handling new innovative equipments. A manager should always consider the skill and capability of his or her employee. It is important for businesses right now to embrace the new machine learning and intelligent applications since this will result to increase in production efficiency. This will also affect their marketing strategies. Financially speaking, profits will increase to a maximum level. We should always keep in mind that adapting to this fast pace technology must give an advantage to the company. This may also be risky to the company, but they should be careful in setting up a new type of technology (not dangerous and hazardous). They should prefer simple yet useful type of technologies in order to sustain their operations. Bottom-line is, making advantageous to the entire organization.

  12. Gene Claude Mapa

    The emergence and trend of technology had brought many changes in the corporate world. The success of their operations is too dependent on the type of technology being incorporated. Businesses should adapt and shift to the latest development in technology. They should be ready to invest to cope up with the fast changing processes and methods. Companies should select the most optimal type machines which will benefit the entire organization. Of course, in making decisions, entities must be aware of the cost-benefit when they employ this type of machines. Business enterprises should also see if the new technology introduced will not affect the companies’ human resources. The effort of the natural person still matters. Employers should conduct proper training in handling new innovative equipments. A manager should always consider the skill and capability of his or her employee. It is important for businesses right now to embrace the new machine learning and intelligent applications since this will result to increase in production efficiency. This will also affect their marketing strategies. Financially speaking, profits will increase to a maximum level. We should always keep in mind that adapting to this fast pace technology must give an advantage to the company. This may also be risky to the company, but they should be careful in setting up a new type of technology (not dangerous and hazardous). They should prefer simple yet useful type of technologies in order to sustain their operations. Bottom-line is, making advantageous to the entire organization. A manager should always consider the skill and capability of his or her employee.

  13. Ronald Ross L. Lubiano

    Most companies are setting unrealistic time and target for its employees productivity, along with these demands comes the birth of autonomy. Why would you invest on something that has a high maintenance and will degrade in a short period of time rather than having a machine with low maintenance, easy to repair, long life, no back pay, no benefits. All it knows is work, work, work.

    Cryptocurrency has long been existing in the deep web. A cashless society using the blockchain technology can make the government powerless over its people.

  14. Joshua Japitana

    Working in an environment where we eat change for breakfast, lunch and dinner, proving Charles Darwin’s theory of survival saying that it is not the strongest of species survive, nor the most intelligent, but the one most responsive to change is a constant scenario. We already have tested and proven this theory and we are sure that this does not only apply to human beings or animals but as well as in business. If you are going to continue to stays to where you currently are today, you will be left behind.

    Below are my suggestions on how we can cope up with the change in technology and use it to our advantage:

    1. Know what works for your business- If you are on merchandising or clothes/design business, hyping your products to the public is as easy as one, two, three. Create a website or an FB page, pay for an extra amount of money and your product will be first on the suggestion list.

    2. Purchase technology that will enhance productivity of work- You have to think forward. Do not dwell to much with the money you will lose by acquiring the technology so long as the benefit outweighs the cost, you will be fine.

    3. Invest in Research and Development- adopting an existing technology is good but developing your own tech that will surely work best for you is way better. You may not know, you will be the next Mark Zuckerberg in town. Remember thay facebook was only supposed fo be for Harvard Students before it was made available to public due to high demand.

    One thing I am very thankful for working in a BPO company is that I have realized that change is the only constant in this world. That change is really indeed inevitable. It is up to you to choose if you are going to remain stagnant in an era where everyone is progressing and evolving .

  15. Liza Chan

    As a business owner /manager, it possess a great risk and challenge, especially in today’s fast paced technological era, since the world in business is never constant but everchanging. As technology is advancing at a very rapid rate, as a businessman, there’s no readob for you to remain in a status wuo but to keep pace in order not to left behind. In embracing technology, one must innovate, by anticipating customers needs in better ways, as well as creating a brand that reinforce the image of the company. Everything must come in perfect timing by addressing the general public, utilizing technology thru advertisement, like, the vow of jollibee which was so perfect during valentines. Christmas/ bew year, summer or June weddings are events on its perfect time. But, in reality, technology can’t replace human touch, thus, in business, we need to let our customers feel the positive market experience, thereby, employees must be trained to maintain a state of mental calmness in dealing their customers, regardless of creed, color or race.

  16. Jasmin G. Gura

    As we all agree in order for a business / industry to survive, it must be ready to embrace, to cope and to compete with the changes. It must have enough resources to capitalize and to make the change possible within. Creativity and innovation in making the service a memorable and close to the heart of the customers / clients are very important.
    Nowadays, we cannot deny the fact that technology plays an important role in the business industry. Robots, automation and whatever means that replace human are now in this generation. These means aim to deliver faster, to have an efficient customer service and of course, to have a sustainable increasing “bottom line”.
    Indeed, level up of change in technology must be embrace in the business but for me, human element must not be set aside. There must be a balance of maximizing the technology and maximizing the human element in the business. There are areas or scope in the business that technology cannot replace the human element / touch.
    Sincere understanding, the intangible powerful connection of a human to human cannot be answered by the technology.
    Thus, as for me business must be wise and creative enough to balance the advancement of technology and its human resource capabilities.

  17. Glyziel Z. lambating

    Evolution of technologies really has a great impact in today’s business. People are always enthralled of what is new in the market. As a Business Owner, I would make sure to keep up with the fast pace growing technology to compete in the market. It will surely be more expensive but staying in a traditional way would lead to a downfall of my business. By adapting the new trends in technology, I can attract more customers because I can give them better quality of service/product. Customer satisfaction is the most important thing in the business. Customers hate waiting! They believe that their time are very important. So since technology helps us in making our life more comfortable we should adapt with the new innovations if we want to excel in business and to satisfy our customers. Competition in business are everywhere. Using the most effective available technology can help me become one of the biggest threat of my competitors and can give me room for future expansion of my business.

  18. Regine Ann F. Estimada

    With the fast pace technology and people being hooked with it, as a manager or owner of a business I must adapt and accept it as well. I believe that with the comfortability and easiness brought by technology it would be easier for me to communicate my product to the market. I know that people would tend to notice the products when they see that I could offer something new, because in every business one should be creative and updated with what is current and popular to the public. People are dependent on technology, they wanted to make things easier and it is an advantage for my business to be updated with the new technology because I will be able to entice more customers.

  19. Krizah Ann T. Ramos

    If I am an owner of a certain business I would engage as to the evolving fast base entrance of technology. Since people and the economy as well are advancing, it is a certainty that change is constant as well. Knowing that people have different needs and satisfaction, people opt to exercise and maximize their buying capacity and demands in such a way they see fit. People are constantly looking for variety and whats new. And if not properly address other competing companies and businesses may attract your own clients and customers.
    Since technology makes our life easier and comfortable, why not use it as an advantage to compete and attract more client to your advantage. Technology could offer customer satisfaction in such a way that out of being comfortable and the ease of access, its the experience of the people that matters, it is always the relationship that you establish and how you made them feel that counts and stays, and I believe that technology could greatly help with this.

  20. Donn Thaddaeus D. Coronado

    Dealing with a particular entity/ organization in responding quick pace innovation is a challenging choice to be executed with an upright decision of determination since it incorporates an evaluation between cost control and cost reduction, in light of the fact that in adding value we must grow revenue by developing new products or services, increase market share (to draw in more client) and increase selling effort. Bottom-line, I have to build the cost to expand the income through putting resources into a state-of-the art facility, high-tech equipment and updated technology for mass produce. Yet, shouldn’t something be said about overhead? Does paying a premium and over time improves them as a worker or enlisting an undergraduate employee with a most minimal pay? For my situation, I liked to enlist a set number of skilled representative to response in a pattern in business trends and innovation than an enormous number of workers with a less cost that may wind up cleaning my inventory as opposed to perceiving an income instead. Consequently, I can’t develop an organization gainfully by simply concentrating on cost decrease. In this way sound rivalry will rise and compelling our organization to response in patterns in business trends for the advantage as well of each customer and consumer.

  21. Jonathan Reeve B. Miranda

    If I were a business owner, I would adapt to what technology available in the market to be able to cope up with the trends and provide my customers a quality product and the experience they wanted. Like most of the business nowadays, they are most likely to lose or shut down than gaining a profit out of it. One of the reason is that they cannot provide the quality or expectations of a customer. They would be left behind by other business who use advance technologies to better their services and provide customer needs.
    I would use most of the technology available that helps my business to gain an advantage to my competitors so that it would be smooth to run my business. By using technologies for my business, it shouldn’t mean that I would cut the numbers of my employees in my business. Manpower is also a need for the business since they have the initiative to do what is needed to perform in the workplace.

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