2017 has been a year of major changes in the business sector. With lots of business philosophies that were modified and developed this year, some businesses are forced to cope with the changes to keep their business afloat and beat the competition.
In 2018, some of last year’s business trends will rise and there are new changes that some will look forward to in the business landscape. Here are some business predictions that we can foresee happening this coming year:
- Artificial Intelligence will be made public
Artificial intelligence, also known as AI, has been around for quite some time. However, it has not been tested to do business work and mostly the program showcases its ability to perform simple human tasks. But researchers and AI experts are continuously modifying the program, so it can be used by industries. In 2018, expect that more and more companies will be using AI to do repetitive tasks and help increase their customer service satisfaction. It will be also used for in-depth data gathering and content delivery.
- Millennials will be on the rise
The truth is, millennials already took over 2017. But expect that they will be dominating the incoming year as well. The rise of this generation will bring forth value-based marketing and change the landscape of how commodities will be marketed. In terms of the workforce, it is also expected that the millennials will be holding more managerial positions, replacing the Baby Boomers. But this group of people will also welcome the Generation Z, or the group of individuals that are born in the times where smart devices are on the rise.
- Processes will be more streamlined
One of the best news that many business owners and companies can expect in 2018 is that business processes will be more streamlined and business operations will run in a macro-level setup – from the business setup in Dubai to the day-to-day activities. This is due to the fact that a lot of government agencies and businesses will centralize and automate their systems to cater to more clients and make it easier for their employees to serve customers in a timely and accurate fashion.
- Brick-and-mortar businesses will decline
This trend started with the development of social media platforms and e-commerce sites. Nowadays, most retail companies see the potential of online selling as compared to maintaining a physical store to sell their items. Expect that more and more retail brands will be closing their brick and mortar store and will switch to online-based selling.
- Free Zones will continue to rise
With the business setup streamlined, a lot of potential business owners will be attracted to venturing into the business world to start their trade. And to accommodate the rising demand, Free Zones like the Ajman Free Zone will be opening its doors to investors and potential entrepreneurs.