As we approach the end of 2020, it’s time to look forward to the emerging trends that businesses can expect to see in 2021. Fox 8 News recently reported several trends that companies should take note of as they think about their strategies for the upcoming year. Here are the top business trends to watch for in 2021.
1. Remote work will continue to be prevalent.
The COVID-19 pandemic forced many companies to quickly adapt to a remote work environment, and it’s likely that this trend won’t disappear anytime soon. In fact, a recent survey found that 74% of CFOs plan to move at least 5% of their workforce to remote positions permanently. This shift towards remote work will have implications for company culture, technology infrastructure, and hiring practices.
2. Emphasis on diversity, equity, and inclusion (DEI) will increase.
The events of 2020, including protests against police brutality and racial injustice, have led many companies to examine their own practices regarding DEI. In 2021, we can expect to see a continued focus on improving diversity and addressing systemic inequities within companies. This may include initiatives focused on hiring and promotion practices, training and education opportunities for employees, and the creation of inclusive work environments.
3. Use of artificial intelligence (AI) will expand.
AI is already being used in various industries, and its use is expected to continue expanding in 2021. Some examples of AI in business include chatbots for customer service, predictive analytics for financial forecasting, and automation of repetitive tasks. As companies become more comfortable with AI, we can expect to see even more creative applications of this technology in the future.
4. Sustainability will become a higher priority.
Many consumers are becoming more environmentally conscious, and this trend is translating to the business world. Companies are recognizing the importance of reducing their carbon footprint and adopting sustainable practices. This may include using renewable energy sources, reducing waste, and promoting eco-friendly products.
5. Digital transformation will accelerate.
The pandemic has accelerated the adoption of digital technologies, and this trend is likely to continue in 2021. Companies may invest in new technologies to improve their digital customer experience, streamline internal operations, or enhance cybersecurity. Digital transformation will also impact hiring practices, as companies will need employees with the right skills to manage these new technologies.
In conclusion, businesses need to be aware of the emerging trends in 2021 in order to remain competitive and relevant. From remote work to the use of AI, companies need to adapt to these changes in order to succeed. By embracing DEI, sustainability, and digital transformation, businesses can position themselves for growth in the coming year.
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