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Current Business Trends in Brisbane

Australia

Australia remained steadfast during one of the most turbulent periods of global modern economics, demonstrating remarkable resilience. During the worst of the global financial crisis, Australia maintained strong growth, outpacing all other advanced economies and securing a 22nd consecutive year of recession-free growth in 2013. The Queensland economy has consistently demonstrated above-average growth, growing at an average annual rate of 4 per cent real gross state product in 2016-17, 2.5 per cent above the Australian average Dun & Bradstreet Global Risk Indicator rates Australia as one of the safest countries in the world for investment. The continued internationalisation of the Brisbane economy, combined with a local pool of talent and a collaborative business culture, provides a strong, competitive environment for Brisbane’s economy to continue to outperform its neighbours. Brisbane’s progressive and far-sighted business and economic environment gives investors more confidence in their quest to optimise investment return. This confidence is built around Brisbane’s stable political environment, its proven and forecast population and economic growth, and ongoing public and private sector commitment to building a stronger economy and intellectual capital base. Australia’s economic growth remains solid, with the resources sector benefiting from China’s economic stimulus, a related jump in commodity prices and state governments spending up on infrastructure Local Economy Brisbane is a major hub for large resource and energy companies, a global hub for the mining, equipment, technology and services (METS) sector, a significant centre for research and innovation, and the engine room of much of Queensland’s continued economic growth. The city’s $146 billion economy (Source: Brisbane City Council - Key Economics Fact 2016) is predicted to grow to more than $217 billion by 2031, having been a key driver of the Australian economy as it enters its 26th year of continuous growth Businesses trend of 2018 Thanks to advances in technology consumers are expecting more than ever from businesses. Nowhere is this more prevalent than in the area of customer experience. If your business fails to keep up with the latest trends you could wind up losing out to a competitor. Over the last few months, there has been a lot of talk about what we can expect to be trending next year in the experience design and management industry. Now that there are so many options to give a little more to their customers, businesses refusing to utilise any of the available technology are really putting themselves behind the competition. Customers expect a great experience at all touch points, including awareness on social media, the transaction itself, and afterward. Successful businesses understand that it’s more time consuming and costly to attract new clients, than it is to maintain existing ones. Unfortunately, some businesses are simply too large to remember all of their clients by name, and it can be difficult to maintain contact with their client base. However there are many digital platforms to make your own, for the purpose of maintaining awareness with your clients, and the options grow frequently.

With this in mind, a number of new methods and technology platforms have emerged and will be shaking up the industry in 2018. Here is a list of what they are: 1. Speech self service This year, we have seen a lot of ads about the latest Google device that responds to your voice commands. Google Home is really making inroads into our domestic situations. It still feels odd to ask the device out loud to turn on the lights and music, but I have heard that children are already using it for their homework assignments. Clearly they are not shy and in time, neither will we be, as the technology continues to get smarter. 2. Digital Privacy and Safety Just because they share their entire life on social media, this doesn’t mean that Gen Y is not concerned about safety measures online. In fact, quite the opposite is true. The digital rights and governance group at the University of Sydney conducted a survey of 1,600 people and found that the majority of people in their 20s and 30s were most concerned. Online platforms like FortKnoxster are taking advantage of blockchain technology, decentralized storage, and advanced encryption, and creating potential solutions to help protect user safety as it becomes more important. 3. Hollywood Technologies I call these Hollywood Technologies because the very abilities we have seen in the movies are finally making their appearance. Passwords will become a thing of the past as we start to see voice print as identification and with biometrics embedded into hand held devices, like iris scanning and face recognition. One company (Prellis Biologics) can now print organs on demand with a 3D printer. What was once the realm of sci-fi is now real. 4. Blockchain A major mainstream credit card company is already using blockchain, a more secure and transparent method to pay, as it is said to be a more efficient method of paying. It also removes the need to swipe a credit card. MasterCard’s blockchain operates independently of a cryptocurrency, and instead accepts payments in local currency. 5. Artificial Intelligence

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