Whiplash Team, November 17th 2023
The 10 business trends in 2024 we should prepare for today
Bernard Marr, author of “The Future of the Internet: How the Metaverse, Web 3.0, and Blockchain Will Transform Business and Society,” analyzes the 10 global business trends that organizations should consider in 2024. Here is a summary of his analysis.
Globally, businesses are facing a scenario of uncertainty, requiring them to navigate carefully as the economic landscape may worsen before entering a period of improvement. This translates to a likelihood of cautiousness towards new investments or the adoption of radical innovation strategies in the coming year. However, there are technological and social trends too important to ignore or postpone.
Bernard Marr, author of “The Future of the Internet: How the Metaverse, Web 3.0, and Blockchain Will Transform Business and Society,” and “Business Trends in Practice,” winner of the 2022 Business Book of the Year Award, discusses in an insightful article published in Forbes, a dozen global business trends that organizations should take into account in 2024.
Here is a summary of what the prestigious author reveals and the areas in which he expects continued investment and innovation:
1. Generative AI everywhere
- Generative AI strategy: Being an industry leader in five years requires a clear and compelling generative AI strategy today.
- Intelligent automation: Generative AI empowers organizations to intelligently automate customer experience and internal operations.
2. Soft skills and the human touch
- Technical automation: As technical aspects of work are automated, soft skills become critical.
- Skills investment: In 2024, organizations will increase their investment in skills such as emotional intelligence, communication, and interpersonal problem-solving.
3. Skills solution
- Skill shortage: Shifts in hiring practices focused on specific experiences and skills.
- Training and updates: Increased investment in training, especially in disruptive technologies like generative AI.
4. Sustainable business
- Customer demand: Consumers prefer companies with a strong commitment to reducing their environmental footprint.
- Sustainable growth: Green solutions often lead to financial growth, as exemplified by Walmart and its fleet of electric delivery vehicles.
5. Scale personalization
- Customer demand: Consumers seek companies committed to reducing their environmental footprint.
- Customized solutions: Companies of all sizes will offer personalized solutions to build stronger customer relationships.
6. Data economy
- Valuable business asset: Data becomes an increasingly valuable business asset.
- Data monetization: Companies like John Deere lead the sale of data to drive new business opportunities.
7. Customer experience revolution
- Total personalization: Every customer interaction and experience becomes crucial.
- Chief Experience Officer: Companies appoint Experience Directors to integrate customer-centric principles into all business strategies.
8. Remote and distributed work
- Post-pandemic flexibility: Companies seek to offer flexible arrangements and tap into the global workforce.
- Hybrid job offerings: The number of “remote” or “hybrid” job offerings will remain high in 2024.
9. Diversity and inclusion
- Growing importance: Ensuring diverse and inclusive workforces is crucial, especially in the era of AI.
- Bias elimination: Combating unconscious biases in processes such as hiring and talent management.
10. Resilience
- Comprehensive protection: Preparation for threats such as cyberattacks, recessions, environmental events, and disruptive competitors.
- Learning from experience: Using lessons from companies that have thrived in turbulent times to plan and prepare for the future.
