The world of business has seen exponential growth with the rise in emerging operational frameworks and technologies. For the past few years, the flow of business has been shaped and innovated both from the customers’ and stakeholders’ ends. Similarly, this year, i.e. in 2023, businesses are showing new trends that will only keep flourishing in the coming decades. Following are a few of them:
Modern day customers mostly look forward to a seamless product or service experience before putting their money on the table. While extended reality technologies have made it possible for people to engage with the virtual world, businesses are yet to actively adopt this strategic move within their ecosystems. The year of 2023 however, is showing promises of businesses thriving with extended reality technologies and creating a customer experience more immersive than ever before.
As emerging automation technologies like AI, Computer Vision, Robotics, Blockchain, Smart contracts, etc become mainstream, businesses are seeking to automate their operational procedures with these modern technologies. One of the key reasons being reduced expenses in manpower hiring, training and governance, business leaders now want to optimize their practices with process automations like AI powered customer voice and chat support, smart contract enabled legal contract settlements, blockchain enabled cross border payments governance, computer vision powered automated driverless vehicles, etc. 2023 is a great year that holds enormous potential for businesses booming in these technology adoptions.
With the rise in extended reality technologies focused on delivering seamless futuristic customer experiences, ecommerce platforms are reaping maximum benefits. Fashion enthusiasts are projected to go more on virtual shopping than ever in the year of 2023. The contactless system of reviewing, selecting and making purchase is attracting millions of modern day customers, especially gen z shoppers. Coupled with AI powered customer support bots, Internet of Things and Web 3.0 implementations across industries, the ecommerce sector is being radically transformed with end-to-end development in platforms and customer experience. The global ecommerce ecosystem is seeing rapid growth both in terms of customer inflows and investors funding startups and businesses who are either willing to incorporate or are already integrating emerging technologies with their business architectures for creating the next level customer experience.
More and more brands are focusing on reducing their carbon footprint. The pressure is both from the stakeholder and customer side, as people nowadays prefer buying from brands that are environment conscious. With United Nations pressurizing industries to go clean, business leaders, investors and customers have become more and more aware about the environmental footprints their transactions are leaving behind on the planet. Whether through Corporate Social Responsibility (CSR) initiatives or investing in clean energy, businesses are projected to actively participate in environmental sustainability for boosting their good public relations.
The pandemic era saw exponential increase in remote work ecosystems. People from all over the world realized how productivity can rise with the elimination of daily commute practices and enabling flexible work ethics from the comfort of one’s home. On the employer side, companies could heavily cut down on workstation and other infrastructure expenses by decentralizing workforce and moving the entire business processes over cloud platforms. Now, in this post pandemic times of 2023, companies are not only projected to opt for decentralized workforce (remote employment), but also distributed workforce (employees working remotely distributed across the entire globe). This distributed decentralized workforce paradigm is going to eventually propel businesses to reduce expenses, network, collaborate and expand their reach to unimaginable levels.
How Medhavi Skills University (MSU) Can Help You Tap Into These Latest Business Trends & Innovations Of 2023?
At Medhavi Skills University (MSU), our curriculums are designed around the skill development milestones of students. With the aim to equip them with the latest industry-aligned competencies, we offer innovative programs in a wide variety of specializations like Cloud Computing, AR, VR, Gaming, Multimedia, Business Management, and many more. Our curriculums enable every student to become employment ready and highly skilled and sought-after professionals in their respective industries.