Machine learning and eco-consciousness key business trends in 2020 – Finfeed

In 2020, small to medium sized businesses (SMBs) are likely to focus more on supporting workers to travel and collaborate in ways that suit them, while still facing a clear economic imperative to keep costs under control.

This will likely involve increased use of technologies such as machine learning and automation to: help determine and enforce spending policies; ensure people travelling for work can optimise, track, and analyse their spend; and prioritise travel options that meet goals around environmental responsibility and sustainability.

Businesses that recognise and respond to these trends will be better-placed to save money while improving employee engagement and performance, according to SAP Concur.

Fabian Calle, General Manager, Small to Medium Business, ANZ, SAP Concur, said, As the new decade begins, the business environment will be subject to the same economic ups and downs seen in the previous decade. However, with new technologies and approaches, most businesses will be able to leverage automation and even artificial intelligence to smooth out those peaks and troughs.

SAP Concur has identified the top five 2020 predictions for SMBs, covering economics, technology, business, travel, the environment, diversity, and corporate social responsibility:

Calle said, 2020 will continue to drive significant developments as organisations of all sizes look to optimise efficiency and productivity through employee operations and satisfaction. Australian businesses need to be aware of these trends and adopt cutting edge technology to facilitate their workers need to travel and collaborate more effectively and with less effort.

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Machine learning and eco-consciousness key business trends in 2020 - Finfeed