CEO's Message
TRENDS
Every year, leaders must evaluate what trends to follow to set their business apart from their competitors. It's an ongoing question that requires careful consideration as they plan the future of their companies and the work of their teams.
As we do this, we must take into account the technological and societal trends transforming our world. The past decade has probably been the most tumultuous since the end of the Cold War. Geopolitics and technological advancements are giving rise to tremendous uncertainty, even as they present new opportunities.
In 2024 we will surely see the further development and infusion of generative AI in business operations. Technological advancements are going to continue to transform business and society at a rapid rate for the foreseeable future.
AI and machine learning have long been integrated into many of the products and services we consume from major companies. Now, generative AI, which can quickly produce vast amounts of content with a personalised touch, is set to once more push the boundaries of our human imagination. We can see this transforming how we enjoy art, music and literature in the future while advancing industries such as marketing, customer service, e-commerce, engineering, and even scientific research.
Undoubtedly, AI will affect the workforce. It has already. We believe, however, that these technological shifts are paving the way for new opportunities that will amplify the importance of human input. That means soft skills will be increasingly important.
Therefore, we can expect organisations to increase their investment in skills such as emotional intelligence, communication, interpersonal problem-solving, high-level strategy, and thought leadership. Concurrently, we must increase training upskilling as disruptive technologies such as generative AI and skills grow in demand in an AI-driven economy.
And while we grapple with global shifts and the impact of technology, businesses and our customers are being increasingly concerned about the impact of our operations beyond profits. Therefore, whether we define it as such or not, we are likely to continue to see greater investment in ESG measures. Younger customers, in particular, are very vocal about their interest in these areas—the Environment, Social Impact and Governance. Therefore, as countries and economies continue to face the impact of climate change and the call for greater diversity and inclusion into all aspects of our societies, we can expect organisations to make a more solid commitment to reducing their carbon footprint. They also will be developing more inclusive policies to diversify their teams, while strengthing governance and reporting.
Undoubtedly, leaders today realise that they must create a more cyber-resilient future as remote work or hybrid models continue to be a dominant trend in the world of work. We already see many companies making this transition and relying heavily on cloud-based services and infrastructure to mine data and successfully conduct their operations. All of this has led to an increase in cybersecurity risks. Therefore, we can expect organisations to focus on the security challenges by improving systems. It will be increasingly important to stay agile and proactive in addressing both opportunities and challenges presented by these trends.
As it has always been, leaders who prioritise innovation and adaptability will be better positioned to navigate the complexities of the modern business landscape and drive long-term success for their organisations. However, in today’s social climate, commitments and, moreso, action toward sustainability and impact, are equally important. We hope to highlight some of these developing and emerging trends in this issue of LINKAGE as we prepare our businesses for long-term success in 2024 and beyond.