5 trends changing the nusiness landscape in 2020
Take a look at the trends that are set to change our working world in 2020.
As we step into a new year and a whole new decade, digital and data continue to sit at the heart of the most significant changes to our business landscape. But there's also an organisational culture shift underway as we reimagine our professional lives and career journeys.
1. Tech evolution vs. consumer privacy rights
Globally, 7 in 10 people worry about how digital companies such as Google and Facebook use their personal data. This issue is set to take the global stage as governments aim to hold tech giants accountable for the way they store and use consumer data. Netflix, Google, Facebook and Apple are under fire from EU regulators over privacy issues. In response to privacy failures in recent years, the EU’s GDPR regulation was created. 2020 will see a similar piece of legislation go live in California - the California Consumer Privacy Act.
Due to growing consumer concerns, many technology organisations will tout transparency and privacy as their key brand differentiators. In 2020, more companies are likely to make opting out of data collection schemes clear and simple for consumers. Only time will tell if these efforts will change the way that key players like Facebook and Amazon operate.
2. 5G revolution
The impact of 5G shouldn’t be underestimated. Much more than just faster connection speeds, 5G will provide the infrastructure for us to benefit from AI - living and working in the cloud. AI applications need increased speeds and the location-agnostic access which 5G offers. Connected workspaces and homes, as well as interactive AR and VR experiences, are just a few ways that 5G can offer a real benefit to our work and home lives.
3. Cultural shift on learning
The tide is turning on organisations’ attitude towards learning. Instead of the typical transactional focus of the past, many organisations are working to foster a culture of lifelong learning. A team-centred focus where one group is trained in a specific skill is shifting towards a more holistic approach to training initiatives. So, rather than only re-skilling or up-skilling employees, companies are looking at increasing their teams' employability, developing well-rounded professionals. Alongside technology-based skills, more general skills like public speaking, teamwork and writing are now favoured.
Organisations are now recognising that investing in the growth of their people is a great way to keep the best talent. At Grayce, we offer the best graduate talent three years of personalised training to develop them into well-rounded change professionals. From agile practices to project management and meeting facilitation, hard and soft skills are valued in equal measure. Grayce Analyst, Rebecca Turnick says, “Grayce give you that step into companies that you wouldn’t necessarily get elsewhere. Having the opportunity to transition throughout different clients is really good; you get to boost your network, your knowledge, and that makes it a very holistic experience.”
4. AI-driven cybersecurity
As the amount of data we produce increases, so too do the ways in which hackers are able to commit cybercrime. This is where adversarial machine learning steps in. 61% of enterprises said they are unable to detect breaches without using AI, according to a Capgemeni Research Institute study. In 2020, AI will play a key role in protecting organisations from ransomware attacks. AI as a service will become increasingly common, although the affordability of such services means it will most likely only be an option for larger organisations at present.
5. Social change takes centre stage
We are now recognising the power we have as individuals, teams and organisations to bring about positive change. From start-ups to traditional businesses, we’re seeing them build social purpose into their objectives and focus on their triple bottom line. Social change sits alongside profit for organisations as 2020 gets underway. We're coming together to take action on issues such as equality and sustainability, finding greater purpose in our work. In fact, purpose is a key factor for the emerging workforce when choosing their job roles.
At Grayce, we believe in the power of graduate talent to support change delivery. Grayce Analyst, Andrew Frain says “Immediately, you’re given the chance to excel and drive your own development, as well as drive real change on client site with Grayce.” We are committed to offering graduates meaningful roles in the transformation space, along with the tools and training to set them up for success in their careers.