In 2011, electric vehicle sales were only 1% of the global automobile industry. Tesla, a relative newcomer to the automotive industry, changed that statistic. CEO Elon Musk used tech advancements in battery manufacturing and tech advancements in parts and labor to shock the auto industry awake. Tesla became the electric vehicle gold standard for other automobile manufacturers.
Tesla is one example of how emerging trends reshape and redefine companies. The pandemic did a number on companies that did not embrace new tech trends. And emerging markets on the Internet transformed the retail playing field. The virus changed the way people buy and sell merchandise. Established brick-and-mortar companies had to reexamine their business plans because of supply chain issues, misinformation, and a radical change in the way consumers perceive life after the virus.
In Today’s Business Climate There Is No Real Leadership Unless There Is Technology Leadership
Tesla is a good example of a company that uses emerging trends to increase revenue and simplify costly and time-consuming tasks. Tesla emerged as the Master of Change in the auto industry.
Elon Musk is a good example of a leader who focuses on tech now and what tech advancements will look like in the future. Mr. Musk is the tech entrepreneur who set the emerging tech trend bar high. Thanks to his tech leadership, humans will travel in space, and fossil fuel consumption will be a thing of the past. The word in the auto industry is government intervention in many parts of the world will outlaw the sale of fossil fuel vehicles by 2050.
The auto industry’s acceptance of electric vehicles helped create innovative business strategies for the future, according to NetBaseQuid. NetBaseQuid developed an emerging trends platform that produces accurate trend information almost at the speed of light, according to the NetBaseQuid client base. NetBaseQuid offers clients groundbreaking technologies that create innovative corporate strategies. Competitive intelligence strategies have the ability to solve issues in real-time. NetBase Quid has a market intelligence platform that gives companies like Coco-Cola innovative solutions to existing issues. The platform also identifies trends and products that can increase revenue and consumer satisfaction.
Emerging Trend Spending In 2021 Will Top $840 Billion
The impact of emerging tech trends before the pandemic laid the groundwork for growth in companies that use Democratization, Human Augmentation, and Hyper Automation. Democratization helps companies access emerging trends without an enormous amount of training. Companies that use a democratic form of leadership tend to handle company issues in a more informed way.
Human Augmentation incorporates wearable devices and implant technology to enhance the cognitive and physical experience these devices and implants produce. Hyper Automation is the combination of machine learning and AI that creates a people-friendly environment. Artificial Intelligence exploration continues to expand, and the use of AI in all sectors of the economy is inevitable, according to NetBaseQuid
According to a Statista IT Market Model, emerging trends like Multisensory Interface, Competitive Intelligence, Blockchain Technology, and Distributed Cloud services will change the business playing field in the future. NetBaseQuid also uses traceability and transparency in its marketing intelligence platform. That’s why NetbaseQuid is the company other companies depend on to receive timely information and an Internet bag full of social media tools.
One of the most important things to remember in the emerging tech market is all social media tools produce results when they work together on a marketing intelligence platform. Tools like consumer product reviews, key opinion leaders, social media comments play a role in producing more revenue, customer satisfaction, and more time to focus on the future.