What are the business mindsets and new technologies that we’ll be adopting next year? Business Optimizer takes a look at analysts’ predictions for 2022 tech and business trends.
Here are five of the business trends that analysts predict will be coming your way in 2022.
COP 26 focused the world’s attention on the need to limit global warming to 1.5˚C. Leaders agreed to reconvene for COP 27 in Sharm El-Sheikh, Egypt, from November 7 – 18, 2022. The new sense of urgency created by this annual timescale, together with the warning from the UN that we need to halve global emissions this decade, means that every organisation will be under pressure to work towards achieving net zero.
For many organisations this will mean fundamentally rethinking every strategic goal, business process and day-to-day operation. The Federation of Small Businesses has produced some guidance designed to help small businesses on their path to achieving net zero. Ideas range from sponsoring tree planting to making it easy for employees to walk, cycle or take public transport to work. Read all ten suggestions here.
The sudden need to work from home during the pandemic demonstrated the benefit of cloud-based solutions and productivity tools. Those organisations that had already made the transition were far better placed to support the necessary remote working arrangements during lockdown.
As a result, organisations are prioritising IT investment. Research for Nitro’s 2022 productivity report found that eight out of ten business leaders increased their IT budget between 10 and 14 percent last year. Two in ten said it increased more than 25%.
Collaboration and productivity tools, like Microsoft Teams, and tools to enable paperless workflows are key investment areas. Eighty-six percent of business leaders say they have accelerated their digital transformation plans in the wake of COVID-19.
Gartner has been predicting a transition to composable systems – an adaptable technology mesh that can be tailored agilely to business need – for several years. It says that in 2022, organisations need to create an action plan to master business composability.
This means moving from seeing “efficiency” as a goal to seeing “agility” as the primary goal and a culture that values rapid responsiveness to environmental change. To do this, organisations should seek to leverage no-code and low-code tools to distribute risk and enable multiple simultaneous business and technology outcomes.
The goal of “no code” and “low code” development is to put innovation in the hands of employees across the business. It’s expected this can help innovation, take some of the burden away from IT – who become facilitators rather than being entirely responsible for development, and help to empower staff to become truly digital employees.
Low code and no code platforms, such as the Microsoft Power Platform or Outsystems, with tools for electronic forms, process automation and app development which require little or no coding experience to use, are helping to facilitate the transition. Even public sector organisations which have been traditionally resistant to change can successfully build a community of citizen developers, as shown by the experience of the Hampshire and Isle of Wight fire and rescue service in the UK.
In retail, there is a decidedly non-tech trend emerging. Forrester predicts that in 2022 the circular economy will become a “must have”.
It cites the buyback programmes run by Patagonia, REI and IKEA as models. In 2021, the department stores Galeries Lafayette and Printemps unveiled “circular fashion spaces” – named (RE)STORE) and 7ème Ciel (or Seventh Heaven) respectively.
Forrester says that consumers like buying second-hand products because they’re unique and less expensive – and for the fun of finding a bargain or special item. For retailers and brands, it makes good sense for both the planet and the business: 60% of online adults in France, 49% in the UK, and 41% in the US prefer to buy environmentally sustainable products.