Before you know it, we'll be raising a glass on New Year's Eve, ringing in 2025. Lets take a few minutes to look ahead. Technology is evolving at a rapid pace and innovations abound. Its critical to stay on top of the trends.
Generative Artificial Intelligence
Investment in generative artificial intelligence is skyrocketing. Everyone wants a piece of the action. Its very similar to the dot-com boom. This technology will be a disruptor for sure. Google, Amazon and Microsoft are going full steam ahead building server farms to power AI. Its going to effect many fields - it can't be ignored.
Back to the Office
Businesses are realizing the value of having their staff working on site instead of remote working. Sure, in some cases remote working makes sense. However in terms of innovation, culture and teamwork - the interactions in the office are invaluable. This means commercial real estate could pick back up. Some companies are getting creative with remote work - using it as a perk instead of making it the norm. For example - having the staff in four days a week, with one remote day is a good balance. Companies looking to stay competitive will get the team back together on site.
Personalization
As customer service is the bedrock of any successful business, many businesses are laser focusing on the what their customers need and offering personalization. This makes the client feel valued and deepens the bond with your brand. Nearly every business can personalize service in some way. Listen to your customers. What are their pain points? Can you help? Get your team together to brainstorm ideas on how to personalize service.
Simplification
Many businesses are examining how they do things. A simple approach is key. Often a process gets bogged down in added steps. Now is the time to take a look at your processes and how they can be simplified. This increases efficiency while increasing profits. Tesla reduced the amount of steps it takes to buy one of their vehicles, stream lining the process, resulting in increased sales.
So look to finish 2024 strong and start planning now for 2025.