Artificial intelligence (A.I) has rendered the world of niche, experimenting tech jargon behind many leading businesses. Yet rather than adopting AI as a gimmick to cultivate an artificially intelligent ethos, many companies have done well to apply it in innovative ways that improve customer service and make life easier for the customer. Some industries are well ahead of the curve, while others are lagging behind. However, even with a few industries leading the way, there is still much room for innovation in business. Here are some industries where we can expect AI to thrive in upcoming years:
Automotive: If you look at the top ten trends for companies from automotive to hospitality in 2021, you’ll see a common thread – self-driving cars. Self-driving cars are the safest way to get around, and the only thing drivers need is the ability to press a button to start driving. It’s the future of auto insurance, and businesses that capitalize on this will reap the financial benefits. Additionally, if you look closely at what’s happening in other sectors, such as medical or delivery services, you’ll find that A.I. is already transforming how they do business.
Chain Stores: With the success of grocery chains like Whole Foods and organic food giant Emergencia, it’s easy to forget that some of their core markets remain untouched by the aging trend towards greener, anti-business practices. Chain stores must embrace artificial intelligence to keep up with the pace of consumer spending. But they aren’t alone; technology experts are beginning to build AI systems that will help these large organizations stay competitive. The future of chain stores may not be about automated loading bays and checkout counters, but about predictive analytics that allow store owners to anticipate what their customers will buy before it happens.
Automotive Industry: There is no doubt that the automotive industry has been hit by the recession, but the trends that follow. For years, auto companies have been researching and developing new technologies to reduce emissions and increase fuel economy. In coming years, it’s likely that technology developments will accelerate. Not only will vehicles become more fuel efficient, but they’ll also be able to anticipate problems before they happen, which could make them more efficient in the future. Combine this with the fact that carmakers are in an absolute frenzy to acquire new patents for autonomous cars, and you’ve got a recipe for chaos for the small business owner.
Health Care: One of the biggest trends to watch for in coming years is privacy. As the world continues to grapple with increasing levels of personal data collection, the next year will see a number of major changes to healthcare. The ultimate goal, according to healthcare experts, is to create a world where information about patients is secure, but there are definite expectations for 2021. If past trends hold true, fewer people will be able to resist the urge to share their personal data online.
Software Development and Business Growth: While software development and business growth are two very different topics, they are closely intertwined. While software developers are primarily interested in creating new software for businesses, the goal of business growth is much the same. What that means for this year is that we are going to see a number of new technologies emerge. From self-driving vehicles to artificial intelligence assistants, the potential for innovation is enormous. It’s also important to note that while many of these technologies are still in their early stages, they are not going away. Over time, we will continue to see these technologies being implemented, because they represent tremendous opportunities to create long-term value for our organizations.
Automotive, Vetmedications, Biotechnology, Personal Data Interaction, Medical Device, Consumer Electronics: This was a list of businesses last year that were completely dominated by one industry. However, things are starting to shift. In the next few years, we will start to see a number of new technologies emerge, especially in the technology areas mentioned above. Additionally, some of the traditional sectors will begin to experience a number of trends that have historically hovered around the periphery. For instance, the auto industry will likely undergo a number of changes that impact both drivers and dealers.
Social Business: This is the final section of the BKG for the new year. It focuses on the areas in which businesses need to consider social responsibility. This includes addressing the issues that arise from the workplace, as well as how the organization affects the communities it serves. The focus of this segment is to ensure that businesses take the right approach to addressing social issues.