Top 10 Global Trends

Top 10 Global Trends​

By: Amit Bhushan Date: 15th Mar. 2016

Trend analysis is what political leaders, policy makers and business leaders often indulge in, so that they ensure that they are up-to-date with emerging trends. However most such trend analysis is done by experts with an axe to grind subject to acceptability of what has been said by them. Generally people tend to select from what is the most common theme from amongst several experts and then it is popularize as publishers trend analysis.

Common people may not have a voice in ‘’shaping up’’ these trends. However with social media, a break has happened as common people are able to voice up their individual opinions, an analysis of which can be made to predict trends although such analysis may have a tendency to be bordering on the side of experts, since commercial media generally tends to lead and popularize experts and this is prominent even in social media which is dominated by the same media professionals. This paper tend to analyse emerging trends that are shaping business policies, business structures and businesses itself, from the point of view of common man.

This may not be perfect but an attempt has been made to keep distance from commercial media related stuff.

1. Energy Intensity - Going down, with focus on high energy efficiency in order to minimize damage of ecology/environment. The efforts are on and visible even though energy consumption itself keeps going up

2. Glocalization - Going up, people demanding global standards from local solution providers which is leading to unprecedented collaboration, assimilation and adoption of ideas and technologies, businesses including small businesses are forced to hunt globally to deliver best in class localized solutions which are dependable under local environmental conditions at affordable prices with locally suitable commercial terms

3. Commodity business concentration-Going up, efficiency in production and synthesis of commodities mostly near their source of origin (of key ingredient e.g. energy for Aluminium, skilled labour for precious metals etc.). Often local governments at source of origin will be constrained to create suitable economic circumstances to make the best overall use of availability of resources in line with competitive practices/tolerance levels.

4. Focus on renewable sources of energy- Going up, cost of non-renewables expected to start shooting up as gains in productivity and consumptions take hold in emerging markets. This may be in keeping with need to conserve nature subject competitive market restrictions.

5. Financial business disintermediation-Going up, greater risk bearing amongst risk takers to fetch better returns and greater information/easier access of credit data of borrowers. Ever greater rise in number of partnerships or start-ups is a testimony rather than capital markets which do not fully capture (as of yet) what may be happening at ground level

6. Mass Production of manufactures- Going down, giving way to distributed manufacturing whereby which locally suited products are assembled near source of consumption with high degree of customization in line with local needs with actually inputs being sourced from the most competitive sources

7. Data transfers & analytics- Going up, more people generating more data and looking for specific solution. Harnessing it in ever new and more enriching ways to innovate new solutions is increasingly becoming the key for sustenance for many a businesses.

8. Social media usage- Going up as more people get access to medium and are influenced by its ability to give them more reach. This again is fuelling the growth of data and analytics.

9. Design consumption- Going up, as greater demand for specific solution, rather than mass produce. New solution development is on rise as cost of production keeping falling due to automation.

10. Fun & Entertainment - Demand going up, with spurt in demand for more avenues for all age groups be it kids, elderly or for different brackets of working classes by economic, work types, age, language etc. An analysis of entertainment channels will reveal a greater mix of ethnic content being more prominent, including ever larger bouquet of regional language channels. Let’s see if supply too catches up.

 

[Swaswati Borpuzari]

Top 10 Global Trends​

In an ever-evolving world, staying informed about the latest global trends is crucial for individuals, businesses, and policymakers. Here are the top 10 global trends that are shaping our future:

1. Climate Change and Sustainability: The urgency of addressing climate change has never been more apparent. Governments and corporations are increasingly committing to net-zero emissions, and sustainable practices are becoming the norm. Renewable energy sources like solar and wind power are rapidly gaining traction, while innovative solutions for waste management and carbon capture are being developed.
2. Digital Transformation: The digital revolution continues to accelerate, driven by advancements in artificial intelligence, blockchain, and the Internet of Things (IoT). These technologies are transforming industries, from healthcare and finance to manufacturing and retail. The widespread adoption of 5G networks is also enhancing connectivity and enabling new applications like autonomous vehicles and smart cities.
3. Remote Work and Flexible Work Arrangements: The COVID-19 pandemic has fundamentally changed the way we work. Remote work has become a standard option, and many companies are adopting hybrid models that combine in-office and remote work. This shift has led to increased productivity, reduced commuting times, and a better work-life balance for many employees.
4. Healthcare Innovation: The healthcare sector is experiencing a renaissance, driven by technological advancements and the need for more efficient and accessible care. Telemedicine, personalized medicine, and AI-driven diagnostics are revolutionizing patient care. The development of mRNA vaccines during the pandemic has also opened new avenues for treating and preventing diseases.
5. Economic Inequality: Economic disparities are a growing concern, with wealth inequality reaching historic levels. The pandemic has exacerbated this issue, disproportionately affecting low-income and marginalized communities. Governments and organizations are exploring solutions such as universal basic income, progressive taxation, and social safety nets to address these inequalities.
6. Cybersecurity and Data Privacy: As more aspects of life move online, the importance of cybersecurity and data privacy has become paramount. Cyber threats are becoming more sophisticated, and data breaches can have severe consequences. Governments and businesses are investing in advanced cybersecurity measures and implementing stricter data protection regulations.
7. Artificial Intelligence and Automation: AI and automation are reshaping the job market and the economy. While these technologies are creating new opportunities, they are also leading to job displacement in certain sectors. The challenge is to ensure that the benefits of AI are shared equitably and that workers are equipped with the skills needed for the jobs of the future.
8. Global Demographic Shifts: The world's population is aging, and birth rates are declining in many countries. This demographic shift is having significant implications for healthcare systems, pension schemes, and labor markets. At the same time, migration patterns are changing, with more people moving to urban areas and across borders in search of better opportunities.
9. Renewable Energy and Energy Transition: The transition to renewable energy sources is gaining momentum as the world seeks to reduce its reliance on fossil fuels. Governments are setting ambitious targets for renewable energy adoption, and innovations in battery storage and grid management are making it easier to integrate renewable energy into the power grid.
10. Global Governance and Multilateralism: The challenges of the 21st century, such as climate change, pandemics, and economic inequality, require coordinated global action. The importance of multilateral institutions and international cooperation is becoming increasingly clear. However, geopolitical tensions and nationalist sentiments are posing challenges to global governance.

These trends are interconnected and will continue to influence each other in complex ways. Understanding and adapting to these changes will be key to navigating the future successfully.