Blog
Building Winning Stores
With ecommerce predicted to account for about 38.5 percent of total retail sales by 2023,1 it is hardly surprising that most traditional physical retail stores are under pressure from traffic and sales migrating online. The situation is even more pronounced
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Chatbots will transform user interaction
Artificial intelligence (AI) created a loud buzz in the world of technology. We have witnessed a dramatic rise in its usage, not only impacting the internet and software industry but also in other verticals like healthcare, automobile, manufacturing, and more. AI is no longer a futuristic technology; it is now used in several industries. Here are trends we will see in two such industries.
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Technology to be at the core of how business is done
From the early days of IndiaPlaza to the heady growth and funding days of Flipkart, Snapdeal, and other startups, to the buyout of Flipkart by Walmart for a mammoth $16 billion, ecommerce in India has come full circle. Still, this is only the beginning for organized retail in general and ecommerce in particular. There is a long journey of growth and consolidation ahead. As per IBEF, the retail sector is expected to increase by 60 percent to reach $1 trillion by 2020.1 Further, Indian ecommerce sector is expected to surpass the US to become the second largest market in the world, by reaching $64 billion by 2020 from the $38.5 billion in 2017.2
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Overcome old mindsets, learn new skills
Research suggests that the average life span of Fortune 500 companies is around twenty years, which means that unless today’s Fortune 500 know how to innovate at an accelerated pace. There are chances that we will end up seeing a completely new list by 2040. Innovation is the common strand of DNA running among all these old veterans and also new startups. And the talent that organizations have is the most important factor in this game. Here are two leadership trends.
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Project revolution will be led by people, not robots
The emergence of projects as the economic engine of our times is silent but incredibly disruptive and powerful. In 2019, I foresee the following five trends.
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Humans to work in harmony with intelligent technology
Augmented humanity (AH) is not a novel idea for humans. Case in point, we all reminisce about how humans communicated with each other several decades ago, and how it has evolved with the application of technology.
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The reign of data
Humans are becoming smarter. By smarter, I mean the ability to use data to learn from the past and take actions to accept, avoid or change the predicted future.
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