Top 5 Must-Watch 2020 Trends for CEOs

As we enter into a new decade, there are a host of emerging trends that are on pace to change how we do business. And many are poised to shake up even seemingly stable industries. That’s why the world’s most successful CEOs dedicate time each week to stay abreast of what is happening in the world and what consumer preferences may begin redefining their industries. Here are the top 5 must-watch trends for 2020.

1. The dominance of AI technology
   Artificial Intelligence is nothing new, but how companies are now using it to shape consumer behavior is something out of a page of a science fiction book. With the rollout of 5G expected within the coming months, the use of AI and mobile technologies as a marketing tool could help small businesses, especially those in niche industries quickly take over.

2. Consumer data protection regulations
   Since over 2.5 quintillion bytes of data are created every day and expected to grow exponentially each year, world governments are now shifting to protect that data from malicious use. And, with the recent passage of the European General Data Protection Regulation or GDPR, any United States-based company that collects consumer information of any kind should start preparing now for the impending crackdown.

3. Say hello to robots for good
   From chatbots to streamline customer service, to cobots who can collaborate with employees in a workspace to programmable security bots that can do work on their own, the rise of the robot is here to stay. What exactly this means for human employees is yet to be seen. However, leading companies in 2020 and beyond will most likely find some operational way to leverage robots to cut costs and increase business productivity.

4. The value of flexible workplaces
   For years the topic of how to keep employees engaged has traditionally centered around offering higher salaries, more professional development opportunities, or better benefits packages. But, as Millennials flood the workforce and rise in the ranks to executive-level roles, the emergence of flexible working arrangements will be a hot trend. Whether it is offering remote work options, giving unlimited leave, or encouraging (or sometimes paying) employees to be more philanthropic, the value of the employee experience as a whole will reshape what we think of work.

5. Telemedicine and the video age. Even if you are not in the medical or health-related space, you still will want to keep an eye on how this trend evolves. As consumers are looking for low cost and convenient ways to get access to the information they need, what telemedicine is poised to do to the healthcare industry is a big lesson for all companies. With retail giants like Amazon and Walmart vying for spots to offer virtual health clinics, now is the time for all companies to start heavily investing in technology to enhance the customer experience.

These are just a few of the top trends you need to watch in 2020. If you haven’t made researching your industry a top priority in 2019, then it is a must-do as we approach the new year. Looking for ways to take your CEO professional development to the next level? Then we invite you to apply to The Brain Trust. As an award-winning CEO peer group, we offer a host of networking and learning opportunities to help you create proven business strategies to achieve new levels of success as a leader. Click here to learn more.