Business Trends to Look Out For in 2019

Monday, April 01, 2019 at 1am

Every year brings with it a hot new business trend. In 2016, big data was the focus, followed by blockchain in 2017, while last year saw business leaders and journalists forecasting the rise of artificial intelligence (AI).

After a year when augmented and virtual reality helped distract us from widespread political upheaval, arguments about immigration and economic struggle, the start of 2019 brings with it the opportunity to start afresh and think about possible industry shifts and new technologies which could change the way businesses operate.

Here are some of the key trends we expect to see more of in 2019.

AI and machine learning will continue to dominate

Artificial intelligence and machine learning were at the forefront in 2018 and have been forecasted to be game-changers in the coming decade.

Expect this to continue into 2019, with these technologies used for everything from building cars to identifying signs of heart disease. The latter is already happening thanks to a joint venture between Google and Verily Life Sciences, and further developments in medical technology are likely.

We may also see discussion take place about the relationship between AI and human intelligence, and how the two will work in harmony together for the benefits of society.

Business Uncertainty

The world is in a state of uncertainty. Listening to the radio in the morning, I’ve heard the phrase “in these troubled times” more often than ever before.

Brexit looming over the UK, anger in France about the economy, and troubles in the US caused by Trump’s desire for a wall on the Mexican border and a hardline immigration policy have all played their part in this feeling of foreboding.

In particular, this is having a negative effect on foreign applications to US business schools. Once the Mecca for business school education, Trump’s hardline approach has left foreigners feeling uneasy about their position in the country.

Voice search

Voice recognition software such as Amazon’s Alexa and Google Home have been around for a while, and the technology continues to evolve at a steady pace.

A Stone Temple Consulting study in 2018 asked all major voice assistants 5,000 different queries – noting whether the question was recognized and the quality of the answer, with Google Assistant reigning supreme in the battle of the bots.

However, other voice assistants are quickly catching up. People are looking for information, making purchases, and interacting with websites using only their voice and, eventually, businesses will need to re-evaluate how they present information to their audiences and may need to revamp their search software to keep ahead of the game.

Voice searches were said to have been conducted 1 billion times a month by the start of last year, and the figure is expected to soar in 2019. We think this is definitely a technology to build plans around this year.

 Holograms

Holograms may have once seemed futuristic and impossible but as we reported in 2018, Imperial College Business School has become the first institution to use holograms for a live lecture.

 Imperial’s ‘Women in Tech’ lecture saw female entrepreneurs and tech geniuses ‘beaming in’ live from locations all over the world. This is only the beginning for what the technology will be able to do as more business schools and companies jump onboard.

Dr David Lefevre, Director of the EdTech Lab says, “Next year there’ll be another technology, and the year after that there’ll be another which means more competition. “It’s very difficult to predict the future, as a year ago we didn’t imagine we’d be working with holograms.”

 

Written by Niamh Ollerton

Niamh is Assistant Editor of TopMBA.com, creating and editing content for an international MBA student audience. Having gained her journalism qualification at the Press Association, London and since written for different international publications, she's now enjoying telling the stories of the business world.

Originally posted on www.topmba.com

 

 

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