Here are the top five business automation trends that are going to draw great impact on working ways and the business sector globally in 2023
Over the past few years, business trends have encountered significant change since the covid Pandemic. Further, these changes are not going to stop here as global issues are going to impact businesses in 2023 as well.
In this article, we have listed the top five business trends that are going to draw great impact on working ways and the business sector. Lets take a look.
1. Sustainability
2. Supply Chain Security and Inflation
3. The acceleration of digital transformation
4. Competing for talent
5. An immersive customer experience
1. Sustainability
Organizations need to process their ESG (environmental, social, and governance) strategies and make them their focal point in the coming year. As our world swiftly wakes up to the fact that environmental disasters or climate changes are drastically going to impact our planet, much more than anything has affected us till now.
Therefore, consumers and investors in large numbers have started preferring companies containing true social and environmental credentials.
Conscious consumers are working as per trends and they prioritize factors like sustainability and ecological factors to influence businesses while selecting whom to do business with or from whom to buy.
To follow this trend every corporation needs to plan things;
- This should be initiated through the measurement of such businesses’ impact on society as well as over the environment.
- Increasing accountability, reporting, and transparency.
- Goals should be elucidated like how to reduce the level of negative impacts, and what strategies need to be followed for environmentally friendly working.
- Moreover, plans and assessments should be executed over ESG supplier’s credentials and the entire chain of suppliers, beyond the business walls
2. Supply Chain Security and Inflation
Economic issues persistently prevail all around the world and 2023 doesn’t appear good too. Experts reports are showing downcast economic growth and ongoing inflation. The issues that started with Covid-19 and worsen with Russia’s invasion of Ukraine, are constantly affecting businesses.
Moreover, still, industrial growth is shattered due to supply chain problems. To sustain in the business world companies need to continuously struggle for resilience improvement. For this, protective measures for better supply chains should be applied, to avoid shortages and rising costs.
- Industries should map out the supply chain entirely
- Should identify all exposures to inflation risks and supply
- Explore techniques for mitigating the risks like alternative ways for suppliers
- In the end, showing better self-reliant
3. The acceleration of digital transformation
2023 is surely going to be the year of developments and innovations among transformation technologies, as it’s a continuous process for many years.
Such transformations will be in;
- IoT (Internet of Things)
- Cloud Computing
- AI (Artificial Intelligence)
- A super-fast network such as 5G protocols
- Blockchain
- AR/VR (augmented and virtual reality)
Furthermore, the transformation of these digital technologies does not come in isolation, instead, their boundaries are always drawn and blurred. Advanced solutions for business decision-making, manual automation, routine, remote/hybrid working, augmented working, and creative workload form a combination of such technologies in versatile ways that benefit them altogether.
This is the point of ‘intelligent enterprises’ system creation, where processes support each other for effective task completion.
For the preparation of these innovations, businesses need to make the right choices. Companies need to ensure that they are making the right choices in every aspect of their operations and following the right technology trends. The excuse of not knowing above mentioned trends usage of old technology trends will be a great loss to any corporation.
4. Competing for talent
Quite quitting and countless resignations have been seen in the past year; as a huge number of talented people have moved down from their working positions. Such employees have reassessed their working criteria and have decided what they want to remove from their lives, as it’s one of Covid-19’s major impacts.
Therefore, great pressure has been built up on employers, and they have changed many clauses in their job packages to make them attractive. For instance, attractive careers, work environments enticing, the flexibility of remote work, and other company cultures.
Above all, the acceleration of digital transformation (as discussed above) leads towards more automation of the workplace, which is globally going to augment almost every single job position. Individuals on a larger scale, are going to share their workload with quick-witted machines and robots.
Further, the workload sharing between humans and machines will impact the talent and skills businesses need in the future. which means upskilling and reskilling the employees and recruiting new talent is going to be the chief requirement in the time ahead.
5. An immersive customer experience
In addition to the quality and price range, experience is a much-needed thing for customers in 2023. The technology role here includes removing the hassle and streamlining the processes for consumers. For instance, ‘recommendation engines’ helps us in choosing the correct product, similarly customer service online portals, which help in problem dealing, and provide after-sale support.
Business Automation Trends – 2023
The world of business is constantly changing, and it’s only going to get more challenging with each passing year. The digital landscape is constantly shifting along with the needs of businesses and their customers.
There are so many factors that need to be taken into account when operating a business in today’s climate – from the proliferation of smartphones with internet access, to the increased use of social media as an advertising channel, to the rise of AI and machine learning.
With so much change taking place around us, how can businesses adapt and thrive in these new conditions? New trends have emerged that help businesses succeed even under trying circumstances. Here are 8 automation trends you should know about right now.
Consumer demand for convenience is increasing
Customers are demanding more convenience from businesses than ever before. The old model of going to a store and buying something in person has slowly given way to online purchases.
Now, businesses must be mindful of how their processes impact the customer experience and if there are ways to improve. Automating processes that don’t directly impact the customer experience can help to free up employees’ time to provide better service to their customers.
There will be an increase in the number of smart devices in the workplace
As businesses look for ways to boost productivity and increase efficiency, they’re turning towards the use of smart devices.
Employees are using smart devices in their day-to-day tasks, from controlling lights in the office to monitoring the temperature.
One of the most prominent examples is the rise of smart speakers like Amazon Alexa and Google Home. These voice-activated smart devices can be used for things like managing schedules and settings, making calls, and even helping with work tasks.
Diversification of workforce will become essential for businesses to succeed
Another major automation trend worth noting is the importance of diversifying the workforce. Businesses would do well to pay attention to the changing demographics in their industry, as well as in their local communities.
Employers are facing a labour shortage, particularly in the manufacturing and healthcare industries. In order to combat this, they need to be more inclusive, making it easier to hire workers and helping them balance their work and personal lives.
Business Automation Trend Statistics
Automation has been the the talk of the town in 2022 , and for good reason.
Automation statistics show that by reducing and even eliminating repetitive tasks, technology can take you to the top of your niche. Delivering the right message to the right person at the right time is crucial for every businesses success.
- The global automation technology market is projected to reach $25.1 billion by the end of 2023.
- 90% of businesses regularly use more than one form of automation software.
- By 2026, the automation software market is projected to top $19.66 billion.
- 61% of marketers are using automation to generate more leads.
- Nearly 80% of businesss have acknowledged automation as the #1 contributor to their success.
- Businesses using automation are 20% more productive.
Forcast Automation Technology Market Size 2017 to 2023
Extended Summary
New technologies, shifting consumer behaviors, and new ways of working are all transforming the ways businesses operate and compete.
Beyond 2023, we expect to see an increased adoption of artificial intelligence and machine learning, a greater focus on personalization and customer experiences, and new collaborative business models like the digital supply chain.
