9 months ago

Current Business Trends in Brisbane

Artificial Intelligence

Artificial Intelligence is becoming more mainstream and businesses are staring to utilise it. We built a basic chat bot utilising an AI platform in just a week and a half. The great thing is that no longer are large enterprises leading the way – anyone can be involved. Companies are now making their AI tools accessible and easy to use, so we will see more experimentation and innovation from smaller businesses.. Brisbane’s Performance It is not an unknown fact that Australia has maintained commendable stability and has remained steadfast in every challenging as well as turbulent situation composing itself with remarkable resilience. During the global financial crisis, Brisbane’s economy remained unaffected unlike other advanced economies of the world, helping Australia to maintain a strong growth and achieving the 22nd consecutive year of recession free performance and growth. For long, its economic growth has been fuelled by migration of people coming into Brisbane from mostly Southern states attracted by the employment opportunities available. With consistent economic structure and manufacturing services as a primary income generator along with specialisations in industries such as Agriculture, Mining and other business services has to a great extend helped Brisbane achieve its present growth. Along with this, there has been an evolution in the field of intensive knowledge oriented services, government policies and investment along with boom of resources has helped Brisbane’s economic growth. Brisbane is also the centre of concentration of white collar industries which includes the Information Technology Sector, Financial services, public sector administration which is concentrated around the central business district of Brisbane along with many recently developed and established office areas. Blue-collar services such as petroleum refining, stevedoring, paper mining, QR railway workshops which are located along the Brisbane River running along the new industrial zone have provided the required boost to the economy along with tourism which is an equally important part of Brisbane’s economy in its own individual capacity and as an access passage to the other areas of Queensland. Further, it is of importance to add that irrespective of the on-going strength of the Australian dollar, Brisbane individually has managed to increase its export volumes in 2010-2013, where more than 70 percent of the exports were shipped to the Asian region. It further aims to single-handedly embrace the global online market with the release of its digital strategy framed to capitalise 20 trillion dollars by which it will be able to double the number of the local business engaged in the selling of goods and services. New Trends in Business The Rise of Subject Matter Experts The long held practice of relying on subject matter experts in the B2B (business to business) space is picking up steam in the broader business world. Now more than ever businesses of all sizes are

ensuringthat there are definitive experts involved in their strategy and sales planning. Such experts help the business consider the actual facts of the product and industry – this in turn minimises confusion and reduces gaps in communication. Video is Essential This trend has been growing, and growing, for the past few years. YouTube has reached a point where it has a subscription service and Facebook prizes video over all else; this is the platform all businesses need to use in one way or another to communicate with customers and even staff in today’s business environment. The Millennial Status Quo It turns out that tech isn’t the only force redefining the workforce – Millennials are making their own waves, and as of 2017 they will be the new normal. Inc tells us that the needs of this growing cohort of young professionals will change the what and how of businesses of all sizes. Retail Business Trends The Exciting World of Retailment Retailment is the next era of real world shopping – stores are going out of their way to create unique shopping experiences that play off their brand’s strengths and into the waiting hands of eager consumers. Small Is In A fun size take on classic retail outlets that offers an easy-access variant of the standard store-front with a focus strictly on the items we buy most. Everyone from IKEA through to Lincraft and Target are eying this concept as a way forward. This, alongside retailment, creates opportunities for those with a solid understanding of consumer trends and visual merchandising. Australia’s International Business Survey 2018 Australia’s International Business Survey 2017 (AIBS 2017) is the fourth in a series of studies of Australia's international business activity. Commissioned by the Export Council of Australia (ECA) with the support of Austrade, Efic (Export Finance and Insurance Corporation) and UTS Business School, AIBS 2017 was conducted by amr Australia between April 2017 and May 2017. AIBS 2017 reflects the opinions of 941 firms from 19 sectors undertaking international activities in more than 90 overseas markets. Analysis of key survey findings is available from the Economics at Austrade blog. AIBS 2017 provides detailed information on:

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