Top business predictions for 2020

Consumers will continue pursuing profound significance; more than 55% of consumers will ponder enter...

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Posted by Dave Food on Jan 29, 2020 3:41:40 PM
Dave Food

Consumers will continue pursuing profound significance; more than 55% of consumers will ponder enterprise values when making a purchasing choice. 

• Consumers now pay more attention to brand values and images than they ever did.

• In 2020, directors will try to grant their customer anything they demand.  In 2020, directors will try to provide their customer whatever they wish.  

• Better be careful with competitors trying to catch the attention of your workers to their corporations, especially across demographic groups like Millennials.

• A smart Chief Marketing Officer (CMO) will bring in strategies that drive short-term profits first, and then focus on customer’s attraction and value.

• Predictions mention that volatility and decelerating growth in 2020 will still demand from CIOs to manage costs and enhance efficiency. CIOs will look at home for those competence benefits, automating 10% of their IT duties, so stable and repetitive that prevent growth. 

• There will be an increase of large investors like foundations, pensions, big family businesses, moving more capital into initial phases of investment, but independently from conventional venture capital models.

• In 2020 we will see an emphasis on the term 'Intelligent automation'. The Robotic Process Automation (RPA) market will discard the restraints of rule-based functionality, through the combination of AI, ML and RPA to solve more complex-troubles aiming at new values in workforce productivity.

• Automation will undeniably supersede IT experts.  CIOs must level out retirements, hiring/firing rates, and automation to avoid chaos thoroughly.

• Automation will reshape the workforce. Predictions are that automation would replace 1.06 million jobs from the workforce, coordinators, and function-specific-knowledge worker personas in 2020.

• Above 80% organisations comprehend the risks it represents the deploying of automation through Robotic Process Automation (RPA) tools, conversational-intelligence platforms, and Machine Learning (ML) projects. You better establish automation teams to bridge conventional IT specialists to exceptional positions like Robot architects and Automation starters.

• IT will help Lines of Business (LOBs) automate, save money and enhance efficiency.

• The management of customer’s experience, Marketing, and Customer Service will grow if routine Customer Experience Management (CX) activities keep adopting automation tools.

• Data strategy will unlock transformations in 2020. Investments in data collection, data management and data science will continue to grow well beyond 2020. 

• In 2020, risky incidents will multiply as attackers come to know that possessing illegal data is a quick course to get money. Attackers will go for the consumer and the consumers’ devices, to the disadvantage of device manufacturers – claiming reimbursement from the manufacturer and demanding the prompt resolutions of these issues, at once!

• Attackers will use AI and ML to augment current attacks using the vast amounts of data now close at hand. AI tools such as natural language generation and video AI will exploit breaches to create fake audio and video designs to trick users; consequently, deep-fakes on its own will cost businesses billion dollars.  

• Studies suggest that 2020 will explode with digital criminals of all sorts, beating good bots on the way.

• Privacy intrusion will become exponential in 2020.  More people are taking measures to safeguard their privacy. Predictions state that privacy-action litigations will escalate by 300%. New tools and policy implementation will need to offer consumers upgraded-protection for in-risk data collection, as Apple and Mozilla did.

• Like Analytics, the range and complexity of “smart” applications will proliferate dramatically in 2020. 

• Regulations depend upon technology monopolies, privacy, net impartiality, media versus technology company regulations and inspection, and lots of more issues. Privacy regulations as those in Europe e.g. General Data Protection Regulations (GDPR) and the California Consumer Privacy act, will disrupt businesses models in the world, and the way those enterprises monetise consumers’ data to guarantee their existence. 

• We will see significant changes in how companies implement venture capital, intensively focusing on a consortium-based model of VC that helps businesses tackle innovation in a more accurate and long-lasting way.

• Blockchain and especially cryptocurrency stay highly unpredictable. The Blockchain expectations will fracture whilst AI financial support will decrease slowly as the market overloads, and as excitement cools down, moving forwards to better outcomes.  

• Meanwhile, the pragmatic-regulator-technology category will see its support double once more.

• In 2020, we will see a return to a more balanced-growth and profitability-structure in the companies that do go public; we will see more lower-growth companies with focal-point profitability going away, than we have seen historically. 

• In 2020 we will see more companies weighing their next move before jumping into an Initial public Offering (IPO) or stock market launch, or significant re-branding.

 

CONCLUSIONS: The development of a possible recession in the global environment is blurring the future, as these predictions depend much upon larger market forces and the state of the worldwide economy. Be alert to the call for action encompassed in many of the above predictions focusing on concerns such as regulatory policies, the need for investment on data, and the illegal use of it.

Dave Food

Prophetic Technology

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