The most remarkable trait of some entrepreneurs trends that sets them apart is the vision that enables them to look ahead to assess and also understand how markets and also technology, as well as consumer behavior, will shift in the days to come. It is a trait that every entrepreneur must possess, or it won’t be easy to drive the business in the right direction by determining the emerging trends. Since change is the only constant, it is essential that every entrepreneur learn to embrace change without any resistance so that they can use it to their advantage, opines Michael Giannulis.
Let us now look at some of the merging trends in different sectors in 2020 that will define the markets in which innovations will play a significant role.
Michael Giannulis looks upon AI as the new thrust area
As the Covid19 pandemic wreaks havoc across the globe, the use of AI for combating. The pandemic has been significant, and also the trend will prevail in all other areas of businesses. The immense versatility and also endless opportunities provided by the technology have made it almost omnipresent. Every business from cybersecurity to healthcare has tremendous scope of using it to their advantage. For supporting their ambitions of business growth by gaining competitive advantage. As more and more businesses take to digitization, the use of AI becomes almost inevitable. It becomes clear from the statistics that show AI specialist positions are among the fastest-growing jobs in 2020. You can expect AI-driven solutions to dominate the business scene. With an increase in the use of chatbots, a smart assistant, and self-driven cars.
Decentralization will continue in the finance sector
In the areas of finance and also an investment, the trend of decentralization will continue. To understand the way it will play out, you must look beyond cryptocurrencies. Which immediately strikes the mind when discussing decentralization. In the traditional investment areas, there is a strong trend of individual investor empowerment arising from a shift in power. Most of the major conventional brokerages have dropped fees and also commissions for trading stocks or likely to drop. New amateur investors comprising mostly of millennials are attracted to startups like RobinHood. We are entering a new phase of more decentralized finance in which robo-trading solutions. Pose a stiff challenge to hedge funds and also stockbrokers and outperform them.
The surge in CBD business
The boom that started in the CBD industry in 2015 keeps gathering strength even in 2020 as it recorded stupendous growth of 1568% during the period. Despite being a relatively new industry, it has become a multi-billion-dollar industry in a noticeably short time. The health benefits of CBD that does not contain THC, the psychoactive substance, are the main reasons behind the high growth rate of 300% year on year on an average as people discover the wide-ranging benefits of the compound from stress relief to good sleep and improved digestion.
As CBD companies keep offering the product in various forms like oils and also face creams to tea and also gums. There is a continued expansion of the market to meet the growing demand.