What will the future of business look like?

In this post we imagine what the future might hold for business, from robots to a faster-paced world.

In future business will use automation

Automation – a word that brings fear to many and excitement to some. Should we be scared of shiny metal workers who never tire or need time off? Perhaps if you work in the service industry, or in agriculture, where roles involving ‘predictable physical work’ face a high threat of automation, according to a report by McKinsey. However, not all work can be automated. As the report states, it is very difficult to replace people whose work involves ‘managing and developing people’ or requires creativity. Now is the time to increase your skills in those areas.

Gain new skills and avoid automation:

In future business will be even faster

It’s a cliche to say business moves quickly. Technology has meant processes and logistics that might have taken months 10 years ago now take hours or even minutes. This is the world of next day delivery, of big data at your fingertips, of being able to speak to thousands of people in seconds, of instant bank transfers. Business has had to adapt rapidly to keep up and it may have to keep adapting if Moore’s law holds true and technology keeps improving. Prepare yourself with courses on logistics, and thinking through complex processes.  

Keep up with the pace of business:

In future business will be more ethical

Increased interest in corporate social responsibility in recent years (Huffington Post) suggests more businesses are accepting and playing an active part in improving society. This, combined with the increasing number of social enterprises (FT) and reinforced efforts to tackle climate change by businesses (like those by Ikea), suggests that business in future will not survive unless it is ethically aware. Many large corporations encourage employee volunteering and almost all now have environmental policies aimed at reducing their negative effect on the planet. Make today the day you learn how to ensure where you work has a responsible role in society.

Help make business ethical:

In future business will feature more technology

The meteoric rise of companies like Uber, Airbnb and Deliveroo rattled the world of business. Some of the biggest players in transport, lettings and delivery industries suddenly weren’t actually in transport, letting and delivery – they were technology companies. Governments and sectors were left on the back foot, while these new businesses were left with profits. It’s already typical to hear ‘it’s like Uber but for…’. Perhaps the future of business is actually the future of technology – time to start planning your app. 

Discover technology trends in business:

In future business will involve more data, and more risk

We already generate astounding amounts of data – 2.5 quintillion bytes per day (IBM) – and as populations increase and technology advances, this amount looks set to grow bigger. It is a tempting prospect for cyber criminals looking to exploit people – in 2016 UK businesses were hit with 230,000 cyberattacks on average, each (CNBC). Don’t let you or your organisation get caught short – increase your cyber security skills today.

Protect yourself and your organisation:

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