Vodafone launched its 2019 Global Trends Report, highlighting customer centricity, ethics and purpose, and the impact of Artificial Intelligence (AI) as key business priorities for the next 12 months.
The Trends Report is designed to allow better understanding of customer needs and challenges and to offer expert insight into how businesses can embrace key trends to their advantage. Drawn from primary research with businesses, industry analysts, global consultancies and futurologists, key findings include:
Technology-led disruption is putting people at the heart of the business
Businesses need to take a people-centric approach to get ahead of changing customer needs in a market that is being reshaped by technology, and do so at speed.
- 85% of business leaders agree that the needs of customers are changing rapidly
- 76% agree that they are becoming more powerful and 93% believe that customer expectations are increasing
Commercial success is tied to purpose, ethics and trust
With companies going toe-to-toe with price points and new offerings, they need to seek differentiation in new areas and manage perceptions of their organisations carefully.
- 93% of businesses agree that they are expected to act ethically by customers, and 92% have this expectation of their own suppliers
- 83% of respondents believing that acting ethically ultimately generates more revenue
- 55% of business leaders indicated that retaining the trust of customers is a concern for their business
A balance is being struck between human and machine
Leaders are recognising the need to create an environment that allows people to thrive, supported by automation and machines, and employees’ expectations of the future of work is changing.
- 86% think AI will lead to different jobs; 83% think jobs will be more productive, and 85% agree that humans will be required to work alongside AI systems
- 54% think that the use of AI could lead to discrimination, highlighting the unsettled feelings that automation is creating in the workforce
The full report can be read here: Vodafone Global Trends Report 2019