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7 Business Trends to watch out for

Great leaders always look ahead to improve their businesses and as savvy entrepreneurs, they always use change to their advantage rather than resisting them. It is also good that they always take into account the questions that will isolate core trends to anticipate how they will enhance or disrupt the organisation’s plans to create new opportunities. Here are a few technology segments that will likely dominate 2020.

Artificial Intelligence (AI)

AI driven solutions are everywhere from healthcare to banking and many other industries. Some examples would be ‘Ava’ from AirAsia or any chat bots that you speak with before speaking to an actual personnel to assist you with discrepancies that comes with your purchases.

Edge-computing for video

What does this mean? Edge computing helps video providers to do and connect more to the outside world via cloud where it saves cost and adds new capabilities.

Autonomous Vehicles

Do you remember the cartoon, ‘The Jetsons’ with flying vehicles? Well, it might take some time before we’re there but look to the industry being in the annual top trend in the near future with more pilot projects like Google self-driving cars and bikes.

5G

Surely, you’ve heard of this by now. You can look forward to faster internet speed and new capabilities of hardware (smarter mobile devices, etc.)

Decentralising Finance

Yes, cryptocurrency is one of the trends for 2020 but look out for a new trend: Individual Investor Empowerment. Traditionally, any company would look for bigger companies as investors. Looking up to a new trend, most start-ups approach individual investors who could be anyone including a family member.

Retail Technology

This creates new shopping experiences by improving offline retail experiences and getting to know customer demographics and interests. In addition, with the pandemic, it allows organisations to better their SOPs and push their businesses to be digitally equipped.

Smart Home

“Software is the new hardware.” In relation to 5G, the important things to concentrate on are software, services and international growth. Quite a number of construction and engineering firms in Malaysia have started deploying smart technologies to build smart townships where everything is connected to each other. It will not be long before Malaysia starts leading the way for smart living.

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