Business trends for 2024

If you want to stay one step ahead of the competition, your company needs to evolve with the changing market. However, implementing the right changes is impossible without having a good grasp of current business trends and understanding how your business might benefit from them. A broad array of elements have brought us to the world we work in today, from ever-changing consumer expectations to the onward march of technology. As we move into 2024, here are some of the key trends shaping the future of business.

AI is branching out

We've all heard about ChatGPT – officially the world's fastest-growing app – but artificial intelligence (AI) is going to have a lot more to offer businesses of the future than just being able to produce written content on demand. This self-learning technology is progressing at a staggering rate and developers are already imagining how it can be incorporated into other business sectors and applications – and working to make it a reality. With fresh AI developments set to be a source of constant headlines moving forward and the technology poised to assist and even revolutionise countless tasks and applications, it's a topic all business owners need to keep a close eye on.

A 5G revolution is coming

This latest generation of mobile-telecommunications technology can shuffle significantly more data through the air than previous iterations. Its benefits will be noticed by smartphone users as it continues to be rolled out across the country but the possibilities of 5G will go well beyond easier Netflix'ing on the go. For one, 5G is the pathway to the full realisation of the Internet of Things (IoT), a sci-fi world where different interconnected smart devices communicate with each other and work together to solve problems. In the automotive world, it means we will see more vehicle-to-everything (V2X) technology, which will allow cars to communicate with everything from other cars to traffic infrastructure and even businesses. The possibilities of V2X are endless. On one hand, it will allow cars to sense and 'talk' to each other, thereby opening the door to full autonomous driving. It also can make even simple tasks like paying for parking much easier – just park and your car will sort it all out.

Work is getting more flexible

The initial impact of the COVID pandemic is now behind us but its effects continue to be felt in the working world. While many businesses are now encouraging – or mandating – a return to the workplace for their workers, remote working remains a reality for a significant portion of the workforce. Some businesses are also now offering employees the choice of a hybrid work model, giving them the flexibility to choose when they work at home and when they come into the office. This trend is putting the spotlight back on fleet management for many businesses, as well as reminding them of the benefits of the Shell Card. On top of allowing businesses and fleet operators to easily track and manage their fuel usage, the Shell Card also offers a range of incentives for drivers, including the ability to earn Flybuys points.

Road freight is booming

As e-commerce becomes the norm and consumers demand ever more rapid delivery, more and more businesses are choosing to become directly involved with the supply chain. This trend, along with increased costs, network issues and time delays with rail freight, has seen the use of road freight increase in Australia in recent years. With the Shell Australia network including a large number of truck-friendly locations that allow for easier refuelling and rests, it's just another reason why Shell Card is great for business.