4 Trends that Will Govern the Business World in & Beyond 2019
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.The winds of technology are definitely taking the world into an altogether different direction. The business world itself is undergoing a massive transformation and reformation in the way it operates. The transition has been mainly that of shifting from traditional and conventional modes to more modern, efficient and organized ways. From finance to selling, everything has undergone a change and the face of the business world has been changed by and large.
Artificial intelligence is being used in almost every aspect of business and beyond business as well. AI is helping entrepreneurs in disrupting every sector from financing to farming. The times and the world that we live in, inhabit the click-of-a-button generation, who, grappling with the demands of their lives, cannot function without a hand that imitates the human faculties.
While there is a growing sense of insecurity among the millennials with respect to machines taking away their jobs, these uncertainties, in fact, can now be put to rest. The reason being that machines and humans cannot exist without each other and therefore ensuring a harmonious co-existence between the two becomes the responsibility of the technocrats and policy designers.
Definitely, demonetization tied the hands of the nation but in a way, it liberated the economy. It liberated the economy from the traditional constructs of finance the country was forcing itself to fit in. The mix of technology and finance gave India faster, better, reliable and efficient ways to transact money within the economy. Challenges with respect to infrastructure and absolute trust in currency-mobility remain present but every development in this sector is proof that India’s financial arms are crawling and moving towards the flag of progress.
There is a sudden wave in the country wherein policymakers have realized that while there is no dearth of talent in the country, there is definitely a scarcity of “skilled workforce.” A report by Aspiring Minds found nearly 80 per cent of engineering graduates to be unemployable, from a survey conducted on 150,000 engineering students. This is not the first or the last instance to be presented as a testimony of the fact that India is far from getting fixed into the bracket of a skilled workforce.
Talent up-skilling, hence, becomes a hard-to-miss and hard-to-neglect aspect. Lifting the skills of the country at large would mean lifting the business ecosystem of the economy.
Gone are the days when the brand building was limited to the mere buying and selling of goods. Today, brand building is about culture, a sustainable work environment and companies opening up to conversations of gender divide and gender equality. Walmart is sponsoring the education of its employees. This testifies that companies have become conscious and their relationship with employees have gone beyond the revenue-generation dynamics. When these things come into play, one realizes that in this era and this year particularly, the brand building may see a new definition and dimension!