• 01 Feb 2023

Business Trends in 2023 (Part 1)

We are amid an economic reordering that forced many industries to reinvent themselves. So, what will they look like, and what should we expect from them in 2023? 

Let's take a look at some business trends for the recently started year:

 

Sustainability 

Sustainability and "clean" energy are surely not new topics, but they will gain even more relevance this year, especially after European and US sanctions on Russian oil exports. 

 

American and European authorities are increasing regulation of climate targets and emissions reporting, for which companies will soon be sanctioned if they happen to exceed the limits. AI technology is used to collect power consumption data that allows those regulations to existing in the first place. 

 

Sustainability will also be evaluated through "clean" energy source generation, including solar, wind, and hydropower, stored thanks to battery technology.

 

With the topic growing in importance, companies should look at ways to make their business processes more sustainable if they want to thrive in the future. 

 

Customer experience 

AI technologies like augmented reality (AR), virtual reality (VR), and mixed reality (MR) are already reshaping the way customer experience (CX) has been perceived so far. 

 

Such solutions can increase the efficiency of customer service operations, reduce spending, and boost overall customer satisfaction. For example, virtual customer care agents have the potential to reduce call wait times and promote customer engagement. 

 

But CX will go further, and a florid scenario for its evolution will be the metaverse. For instance, customers can have an immersive experience through a virtual fitting room where they can create their own avatars to fit clothes before buying them. 

 

Supply chain

Supply chain disruptions were a massive issue during the pandemic. They persist due to the tensions in Ukraine, urging companies to stay resilient while avoiding exposure to volatile market pricing of commodities and building protective supply chain measures.

 

Not only the possibility of disruptions but also the workforce shortages that most developed countries face are demanding the automatization of supply chains. 

 

An example of how technology can be used in the context of a supply chain is drones. They can assist with the land and air delivery portions and warehouse operations like inventory management and searching for lost goods.

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