Generative AI to skills solution, the top 5 business trends in 2024 that one needs to know

In today’s world, machines are taking over the work of humans with the help of artificial Intelligence. We are evolving in the workspace from doing labour intensive work to smart work, writing codes in computers and electronics devices are doing the work for us. 

Here are the 5 best business trends that are evolving in the current market that a person needs to see before venturing into a specific type of work.

Generative AI

By 2025, it is predicted that generative AI would take 30% of the Artificial Intelligence market at a valuation of $60 billion globally. At present, the industry is valued at $45 billion. 70% of consumers are expecting all types of businesses to take the AI technology available, especially generative AI to generate more revenue by making an improved customer experience. 

Soft Skills with the human touch

As the technical aspects of the workspace such as coding, data management, and research are getting automated with the help of machine learning and artificial intelligence, the need for soft skills are also being felt in the corporate system. Thus for that reason, the human factor is still an important part of the system. And therefore according to experts predictions developing and nurturing soft skills management and attributes like emotional management, interpersonal communication, human problem solving, high level thought leadership and strategy making would have a growth in the coming future increasing the need for human touch in the workspace.

The Skills Solution

Upgrading the workforce with the recent in demand skills are a vital part of a company’s plan to generate the highest productivity. Without the required skills the workforce wouldn’t be able to work in the most effective and efficient manner. Thus staying updated to the recent changes in the market and having an idea of what can come in the future and being prepared for it is the best way to secure jobs and get the businesses on track. If you’re an entrepreneur you need to be updated too with the right skillset. It will help you to gain an edge over your competitors. 

Sustainable Business

Environmental impact is a concern for us now and businesses are also taking it into concern. Therefore sustainability is a factor that every business is adapting to. The more environment friendly the business is, its customers are going to stay and grow as the awareness is growing among people. Customer loyalty with sustainable businesses are in increasing trend than those who are still using conventional methods. For example, car manufacturers are shifting from production of conventional fuel cars to hybrid and electric vehicles to reduce the carbon footprint.

The Data Business

Huge data generation is leading to an increase in demand for data mining experts and big data engineers. Thus if people can invest their time and money in the skillsets to become experts in this field they can find lucrative jobs and can even set up their businesses to earn millions.