Those thinking of how to write a good scholarship essay for a business school should take a close look at the modern-day trends governing the business world in 2018. That’s an area very rich in information and ideas for future business development, just think over it: sophisticated cybersecurity, increasingly common blockchain solutions, AI, the Internet of Things… All these things seemed to be the matter of the distant future, while in fact, they are already put in place. What do you as a business owner have to know and apply in 2018 to stay ahead of the competitors? Get all strategically important knowledge here.
In 2018, more companies invest in cybersecurity solutions for the sake of improving their data intactness. While common approaches in the past years presupposed attack detection and response, this year more solutions are available for early prevention of these attacks. Most services meant for this purpose are provided as SaaS/cloud solutions, being readily available in any corner of the world. However, the cloud itself is getting more fragmented in 2018 to meet the needs of specific target groups of customers. Thus, we can expect greater division into microservices in the near future.
More Personalization in Marketing
Though marketing is already highly individualized, the sky is the limit to fragmentation and individualization of marketers’ approaches to potential buyers. So, the times of impersonal calls and stock photos are long gone, with modern marketing efforts informed with a variety of your personal data and consumer preferences readily available to companies from your Web search and cookies. 2018 is the year of more customized e-mails and messaging, which has become possible due to advances in click segmentation.
Greater Role of AI
When we think of AI, what comes to our minds? Mindless robots performing some daily chores and manufacturing functions, right? This is a wrong perception established as a result of Hollywood films’ influence. In reality, AI does not presuppose dehumanizing interactions, but relates to repeatable, redundant tasks on large data masses processing. So, it is not intended to dehumanize operations, enriching them instead and giving consumers better experiences and quality. Some recent examples of AI application include the use of AI in GPS data evaluation for Google Maps and Google Insight. Thus, AI is not a matter of the future; it is what governs the present-day business operations.
Evolution of Banking
Banks have been here since prehistoric times and will remain for a long time as well, but their outlook and mode of serving the clients are changing fundamentally. In 2018, experts expect a fundamental shift of banking models towards technology-intensive solutions. The times of traditional brick-and-mortar financial institutions are gradually vanishing, as even large corporations and premium clients prefer to hold their routine banking operations from the convenience of their office, home, or smartphone. Thus, the banking industry readily responds to these shifting trends by offering more online and mobile apps.
The Internet of Things (IoT) is here, and its development is already surpassing the boldest expert forecasts. Its premise was so heartily accepted by users that the popularity of IoT is immense and growing at a lightning speed. But such popularity comes with its drawbacks: in 2018, experts anticipate the growing number of cyberattacks on the IoT systems, as they unify numerous devices and the networked units are easier to locate and attack. This problem is already tackled by IoT developers making their devices and connectivity systems more secure. So, it’s clear that this year will be rich in events in the IoT sphere.
The Era of Machine Learning
Machine learning is commonplace now; it is gaining ground together with blockchain as two innovative IoT developments. Though remaining in the technical arena most of the time in the past, in 2018, these two areas are going to the open market this year to become new business sectors. Machine learning is getting ever more responsive and flexible, thus becoming more efficient in customer service, while blockchain is overall presenting a groundbreaking change in all kinds of online transactions and operations. So, despite their puzzling nature to most laymen, these concepts are topping the list of tech novelties now and are certain to expand their influence further.
So, this is what can help you advance your business in 2018. Embrace these trends, implement them in your business, and your competitive advantage is guaranteed.