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How Has the Business Landscape Changed and What Can You Do about It?

We are getting closer to April. It’s the start of the fiscal year in the UK, Japan, and many more countries. It’s a good time to reflect on the business world, how it has changed during the previous year, and what strategies and methods are hot now.

Learning about what’s changed and what can you do about it will help you stay competitive and ensure your company keeps growing in the coming year.

Technology

Technological advances haven’t slowed down, and this year comes with a plethora of new changes in the tech market:

Machine Learning and Cloud

Have you wondered why you don’t see as many articles as before about ML and cloud? You might be surprised to learn that it isn’t because they flopped and no one is using them anymore, but the exact opposite – statistics show that almost every mid- and the large-sized company has started using these technologies, and small businesses aren’t far behind.

Writing about how great are these technologies is just regurgitating what every businessman knows, by this point. If you haven’t done so already, it is high time you adopt cloud and ML or at least commission a cloud-based manufacturing software firm to create a bespoke solution just for you. 

Blockchain and Crypto

After the crash in early 2018, the crypto market hasn’t really recovered, and according to economists, it might never recover.

If you didn’t board the whole blockchain and decentralization craze, I think it is safe to say, you didn’t miss out on much.

If you did, it might serve as an expensive lesson for you to do more research and not fall into groupthink again. There’s also no sight of them becoming popular again in 2019, so you should feel safe if you’re not investing in them.

Marketing

Marketing might’ve undergone the biggest change in 2018. Stories of meddling in elections, rampant fake news outlets, and bots influencing public sentiment came out every other week.

The major social media platforms were taken to task on these issues, and many governments around the world forced them to enact stricter measures on marketing.

You might be wondering how is this related to the business world? Well, the effects are bigger than you might realize.

First of all, if your business is even remotely related to politics, you’ll have to go through a bunch of extra hoops just to advertise on social media from now on.

The measures against fake news might also hurt you if the language you’re using to describe your product is too flowery. Overall, you have to tread more carefully with your marketing campaigns going forwards.

Automation

If we put aside the unsubstantiated fearmongering, how effective is automation and how many jobs can we expect to replace with robots this year? Well, let’s say it’s still better to invest in plumbing software to help you with the bookkeeping rather than a plumbing robot, and this is true for many other jobs. As a rule of thumb, anything that requires fine motor skills won’t be replaced anytime soon.

What about knowledge workers, is there any breakthrough? Well, this is more complicated.

This year marked substantial improvements in natural language processing and object recognition.

The technologies are still in alpha stages, and we’re not sure when they’ll be ready yet. All we know is that it could spell the automation of a couple of million jobs by a year or two. That’s why you need to stay up-to-date with the news and get ready for our imminent robot overlords.

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