Randall Castillo Ortega discusses business trends that will impact the world through 2022

Keeping abreast of market trends is not easy. However, it is important to recognize that the industry is constantly evolving, and in order to stay ahead of the curve and prevent our competition from overtaking us, we need to move forward and plan for the long term. Randall Castillo Ortega, an entrepreneur and trade expert from Costa Rica, provides an overview of some of the business trends that have already started this year and will continue through 2022.

Depending on the state of your business and the industry to which it belongs, you may be looking to maintain your current rate of growth or to recoup your losses. But growing a business requires a meaningful strategy to ensure the attraction of long-lasting, quality customers who take the business to the next level.

Business trend analysis is simply the comparison of industry data over a defined period of time, designed to recognize consistent results that could be used to map a business strategy, aligning it with the overall direction of the industry. .

According to a report, The Future of Jobs Report 2018, there are 10 business trends that will affect business growth through 2022. All businesses need to recognize and at least consider them in order to remain competitive in an ever-changing business environment. Otherwise, they risk falling behind and losing ground to other established competitors or new companies embarking on the transition.

Growing Adoption of New Technologies – The top five business drivers are technology related. It is therefore not surprising that Industry 4.0 and new technologies are driving business growth, job creation and the demand for specialized skills.

The Growing Availability of Big Data – According to this report, 85% of respondents are likely to expand their adoption of user analytics and big data by 2022. This will inform decisions and drive more innovation and investment. smarter and more timely.

Advances in Mobile Internet – Wherever you look, you’ll always see someone with a smartphone. Explains Castillo, This is happening all over the world. The opportunity that presents itself in developed countries for mobile consumption will also play an important role.

Advances in Artificial Intelligence (AI) – AI is already being used to increase efficiency, improve productivity and performance in manufacturing, technology, healthcare and others. This is a trend that is not slowing down and will continue to drive business development for years to come.

Advances in Cloud Technology – Based on the stated investment intentions of the companies surveyed in this report, 72% of respondents are likely to expand their adoption of cloud computing by 2022. This will make businesses more agile, collaborative , efficient and scalable while reducing costs.

Changes in National Economic Growth – Combined with technology, socio-economic trends will have an effect on business growth through 2022. These will have the greatest impact on industries such as aerospace, supplies and transport, infrastructure, mining and metals.

Expanding Wealth in Developing Economies – Improving access to technology and education will provide greater opportunities in developing countries and thus contribute to the expansion of the middle class.

Advances in new technologies and energy supplies – Decarbonization, emerging markets and resilience must thank the increased demand for renewable energy. Adds Castillo, In addition to advanced computing power, new energy sources and new technologies will boost business development in many industries.

Expansion of the Middle Class – According to several reports, poverty is gradually decreasing around the world. Thus, the forecast that the global middle class could double by 2020 and triple by 2030 is coming true. This is due to urbanization, which includes better access to education, technology and opportunities.

About Randall Castillo Ortega

Randall Castillo Ortega has been involved in the financial space virtually his entire professional career. Besides having founded the financial loan company RACO, he is also an avid outdoorsman and, along with his family, is a big supporter of the community. He regularly participates in community ceremonies and events organized to foster a better environment for children and families.

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