The world of business is rapidly changing
From the effects of the pandemic to the adoption of new technology, 2022 is a milestone in emerging business trends that will reshape how we conduct business both locally and globally. Here is a look at some of the top changes that are here to stay in 2022.
Consumers are in love with delivery services
People are purchasing more and more online. Delivery was already a growing trend before 2020. However, lockdowns and storefront closings have made delivery services an essential part of our economy. To understand this trend’s scope, one must only look at the approximate 180% growth that Amazon has experienced since the beginning of the pandemic.
Amazon is not the only service to see a rise in value. GrubHub and DoorDash have also seen a surge in growth. The added convenience of delivery services is undeniable, and there is no sign of slowing in consumer popularity. With or without the pandemic, the prevalence of delivery services will undoubtedly play a vital part in our daily lives.
Is remote working the new normal?
The prevalence of working from home had already been growing in recent years. While there were fears that remote workers would waste more time than those working in an office environment, data has shown otherwise.
A Stanford study showed a 22% increase in productivity for those who worked remotely. This increase is thought to be linked to employees having more time due to the lack of a commute. We can expect to see more published studies on this subject as the tendency to work at home continues.
Not only is remote work boosting productivity, but companies are also saving money. Global Workplace Analytics has estimated that employers save over $11,000 per remote employee.
While some employees remain mixed in their opinions about remote work, it is to be expected that the positive aspects will keep this movement going through 2022 and the foreseeable future.
Tokenization and the mainstreaming of blockchain technology
Cryptocurrency has seen tremendous growth in the past year, but crypto is still just the tip of the iceberg. The advantages of blockchain technology are becoming more apparent. Many companies are now tokenizing assets.
Tokenizing means creating a digital representation of the asset on the blockchain network. The digitized asset could be anything from a stock video to the rights to an NYC apartment. You can resize video online using online editor tools. In addition, these tokens can be traded at lightning-fast speeds 24 hours a day. This innovation is rapidly changing the financial market, with more and more companies adopting the technology.
Blockchain is a red-hot topic in 2022. A recent article in Entrepreneur detailed that as new companies build their own digital infrastructure, traditional market infrastructures are simultaneously paving the way for widespread adoption. The article even went as far as to essentially state that only the institutions that are willing to change with the times and adopt this new technology will prosper.
Predicting supply chain interruptions
From the Suez Canal catastrophe to the shortage of chipsets, it has become apparent that businesses will have to focus more energy on predicting supply chain interruptions.
While the NYTimes has stated that this may be something we will have to get used to, new concepts on predicting and avoiding future interruptions are emerging on the horizon.
The global economy has become more complex every year. As a result, planning further into the future may not be enough to avoid disruption. Because of the complexity of the issue, the solution may lie in artificial intelligence. A report in McKinsey states that the implementation of AI could cut logistical costs by 15% and improve inventory levels by 35%.
Considering that AI is now far more readily available than it was even a few years ago, the prospect of implementing a solution like this is incredibly realistic. However, it should be noted that this will be no small feat. Therefore, it may take a long time to have solutions like this ready.
While it is a daunting challenge, this exciting business trend opens up new possibilities in the software and technology community, which could power future companies as the demand for logistical solutions increases.
I’m is an owner of Venostech.com, blogger, Android and technology enthusiast. Individual who are educated in the IT and like to write according my scope.