Top Business Trends for 2023 in Australia

The key to any successful business is that it is constantly evolving to stay ahead of the competition. But to do so means to keep a keen eye on the latest business trends in the market to see which ones might affect or benefit your company.

There are many factors shaping today’s working world, not least of which are the endless advancements in technology. So, as the business-scape continues to evolve post pandemic, and technology continues to change the way so many industries function, here are some of the trends worth staying on top of.

One of the more notable impacts of the pandemic on workplaces has been the working from home arrangement. However, as the initial impact of the pandemic has since subsided, workers are increasingly heading back to the office – in many cases because they’ve been asked to do so.

While remote working remains an option, many employers are offering a hybrid solution that allows employees to choose how often they come into the office. By providing flexibility, employers hope to foster positive morale, while attracting people back to the office after nearly two years at home.

However, as more and more employees return to work, city traffic also returns to pre-pandemic levels, giving rise to the relevancy of fleet management, as well as the Shell Card. Allowing business and fleet operators to easily track and manage their fuel usage, the Shell Card also provides perks for workers, including flybuys points and Shell Coles Express rewards.

For any company that’s reliant on supply of inventory or components, knowing where and when items will arrive is absolutely critical. By having direct involvement with the supply chain, companies are better positioned to prepare for any potential setbacks and restrictions.

This has become especially true in recent years as e-commerce and the emergence of companies, such as Amazon in Australia, have increased consumer expectations in terms of rapid delivery.

This is partly why the use of road freight has risen in the past decade.

Many companies have also chosen to ditch rail freight as the network struggles with maintenance issues, increasing costs and the challenges of competing with what has often become a faster way to move goods. This is another reason why Shell Cards are great for business, as the Shell Australia network has a large number of truck-friendly locations that allow for easier refuelling and rests.

Any discussion around business trends in 2023 cannot ignore the stunning growth of Artificial Intelligence (AI). While programs such as ChatGPT have attracted plenty of headlines, behind the scenes there are numerous companies working on AI that can be integrated into multiple business sectors.

AI is a constantly evolving technology, able to learn as it goes, which makes it useful as we learn to understand it more. While programs like ChatGPT (officially the world’s fastest-growing application with more than 100 million users signing up in just two months) are able to produce written content on demand, programmers are confident that AI can be taught to understand human emotions in the near future.

It’s difficult to overstate, or accurately predict, the impact that AI could have on our world in the future, but it’s developing so quickly that any predictions made could well be out of date before the end of 2023. AI is one of those things that any business owner needs to be across, and if you’re confused about what it is, just log in to ChatGPT and ask it to explain itself to you (spoiler alert, it can do this).

The roll-out of the 5G telecommunications network across Australia has more potential than just clearer phone calls. The 5G network will be able to handle significantly larger amounts of data and could therefore allow for more data-intense technologies.

An expanded 5G network would allow for the creation of an ‘Internet of Things’, a more connected society where new elements can communicate with each other. The obvious automotive application is vehicle-to-everything (V2X), which will allow your future car to digitally communicate with everything from other cars to traffic lights and more.

If your car hits a patch of ice, or a big pothole, for example, it could warn all the cars coming up behind you, instantly, of the danger. This is a world where autonomous cars become far safer, as they’re able to sense what’s in their direct path, as well as speak to every connected object around them.

^Disclaimer

^{Viva Energy Australia Pty Ltd (“Viva Energy”) has compiled the above article for your general information and to use as a general reference. Whilst all reasonable care has been taken by Viva Energy in compiling this article, Viva Energy does not warrant or represent that the information in the article is free from errors or omissions or is suitable for your intended use.}