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The Next Big Thing(s)
The Next Big Thing(s)
As a strategist, I’m often asked by
colleagues for my ideas and predictions about "the next big thing.” When I
was younger I answered this less from expertise than from an internalized
obligation to prove my value. Yet age has taught me I’m not an oracle: for one,
I definitely did not see Covid-19 coming! And wow, do those few people who, in
April 2020, accurately predicted the outcomes of the pandemic have an amazing
crystal ball.
Nevertheless, I’ve learned a bit over the
years about planning ahead. To start, there’s rarely one Big Thing. Rather,
many things unfold in parallel; we don’t know for sure what will stick, so our
job is to plan for multiple scenarios within dynamic and rapidly evolving
social, economic, and political landscapes. Also, we commonly assume the next
Big Thing will be tech-based, but this isn’t necessarily the case. For
instance, the long-overdue acknowledgment and pursuit of DEI initiatives have
nothing directly to do with technology.
As we look ahead to 2022 and beyond, a number
of intersecting trends are creating urgency for nonprofits to start (or
continue) experimenting with new, innovative operating models. In this post,
I’ll share a brief overview of these trends, as well as concrete ideas for how
your organization might consider adopting them.
The likely challenges we face
In spite of hopeful signs in the collective
global response to the pandemic, nonprofits continue to experience many
dramatic shifts in their competitive environment. The resilience and openness
to change that characterized our sector in 2020 and 2021 will continue to serve
nonprofit executives well in responding to the following:
Mergers and consolidation in distressed parts of our sector
The pandemic, its related social and economic
challenges, and the racial reckoning of the past 18 months have had a dramatic
but uneven impact on nonprofits. Some organizations have seen increased demand
and funding, while others have suffered from a change in donors’ priorities.
Particularly in parts of our sector that have faced bigger setbacks—for
instance, educational institutions and arts organizations—we are likely to see
a shakeout that involves groups folding, merging or consolidating in response
to continued financial distress. Take, for example, a recent merger between the
two philanthropies that fundraise for San Diego’s beautiful Balboa Park. Or
mergers between these two pairs of local United Way chapters.
A potential winnowing in organizations receiving high-dollar
investments
We’re noticing interest among philanthropists
in giving larger amounts of money to a smaller group of nonprofit
grantees—usually with an eye toward making a more immediate impact on issues
requiring an urgent, and big, response. In particular, these philanthropists
are targeting “high-impact” organizations that have a demonstrated ability to
handle the operational weight of big-ticket investments. Meanwhile, grant
seekers that lack the capacity to effectively manage a large influx of funds
may lose out on opportunities—as well as those that do not present ideas and
ask for the major investment.
The MacArthur Foundation and its 100&Change initiative are at the leading edge of this trend. Many social problems are too large to be solved by grants at the size that foundations typically provide. In response, the foundation launched a competition for $100 million to be awarded to a grantee to achieve transformational impact in a critical issue area (e.g. homelessness; racial equity, refugees). This initiative and increased interest from ultra-high-net-worth donors who want to fund cutting-edge ideas led to the creation of Lever for Change, which unlocks fresh capital investment —all thoroughly vetted by a trusted partner—without the donors having to start their own foundations. A similar approach to funding a small number of targeted organizations is being deployed by the Bezos Earth Fund.
The incursion of the private sector into social change issues Many big private sector companies are
steering heavily into social issues long championed by non-profits—but with speed and agility, most non-profits (as of today) will never compete with. At
the same time, the social enterprise sector continues to grow, driven by the
desire to solve pressing social problems through market-based solutions.
Neither is a bad thing: given the herculean levels of innovation and change
required to get to net-zero carbon emissions by 2050, for example, all hands
must be on deck (indeed, a UN partnership has predicted that 70% of the
investment needed to meet net-zero goals could come from profit-seeking
investors!) The impact of this growth in private
investments is uncertain for the nonprofit sector. Will funding continue to
pour into the 501c3 space as it always has? In the world of nonprofit medical
research, we mostly see venture philanthropy complementing (rather than
upending) nonprofits’ more traditional focus on basic scientific research,
giving drug companies access to a new funding source for early-stage trials.
The presence of a financial bottom line can lead to a results orientation that
is in many ways welcome. And venture capital has a history of tolerating lots
of risk in its search for a world-changing win—helpful for overcoming the
nonprofit sector’s natural risk-aversion. Yet there are tradeoffs too;
nonprofit leaders will need to watch these market movements carefully. Intense competition for top talent An exceptionally strong labor market is
making it harder for some nonprofits to retain their highest-performing
employees—many of whom are burned out after a long pandemic period of operating
in “survival mode.” Fierce competition for talent will continue. Nonprofit HR
teams have always struggled to compete with the compensation packages that
private businesses offer, but their challenges are now compounded by growing
competition from companies expanding their social and environmental
initiatives. Growing expectations for seamless digital experiences We’ve written often about how the pandemic
has hastened a digital revolution, not only within our organizations but in our
personal lives. We spend more time online than ever before. This means that our
stakeholders expect quick, friction-free digital experiences—just like the ones
they get from their favorite private sector brands. This demand is not going to
shift. And it applies equally to employees and their experiences in the
increasingly digital workplace. The emergence of Web3 technologies Web3 is the emerging term for a plethora of
technologies that are based on the public blockchain. “In a Web3 world,” writes
NPR, “people [will] control their own data and bounce around from social media
to email to shopping using a single personalized account, creating a public
record on the blockchain of all of that activity.” In the process, they get to
sidestep big tech giants like Facebook, Twitter, and Google. Buoyed by cryptocurrencies and the rise of NFTs, Web3 technologies are bound to grow in the
coming years; nonprofit leaders will have no choice but to stop and take
notice. Potential strategic responses to these challenges Effectively responding to these challenges
requires that nonprofit executives be willing to consider bold new
approaches—ones that, in many cases, deviate significantly from the status quo
in our sector. While specifics will vary by context, below are strategies worth
considering to boost organizational capacity and secure long-term resources to
support your mission. Invest in your organizational capacity As funders increasingly require robust,
scalable operations in exchange for big-ticket investments, your power comes
from building a strong culture of operational excellence. In order to grow the
business, you have to run it like a business—not just in programmatic work, but
across the board. This is especially true for organizations that have central
departments that support multiple programs. Communications, finance,
development, and IT all exist to facilitate the impact of programmatic work.
None exist in isolation, and this should be recognized with greater investments
in coordination, both in terms of team cohesion across departments, and in
strategic technologies that support digital transformation throughout the
organization (rather than better software tools for their own sake). Create an internal incubator for new ideas & programs Many nonprofits struggle to develop
fundamentally new approaches to serving their constituents, due to push back
from funders or risk-averse cultures. Yet fresh ideas are critical for success
as our organizations face growing demands with limited resources. One way savvy
nonprofits can boost innovation is by embracing an “incubator model”: creating
a specialized container, set apart from normal business operations, to build
out new programs or business offerings. Empowered with unconventional autonomy,
flexibility, and resources, groups operating within the incubator are able to
innovate and test out new approaches without hitting the familiar wall of “we
don’t do things that way here.” Successful ideas and programs can either be
adopted by existing units or launched as independent, affiliated
organizations, like Lever for Change in the case of the MacArthur Foundation.
(For more guidance on how to launch an incubator or innovation lab within your
nonprofit, check out this helpful resource.) Consider partnerships Partnerships offer an opportunity for two or
more groups to work together toward a shared mission, without legally merging
distinct organizations. Lower in risk and complexity than an acquisition,
partnerships can be particularly effective in areas where nonprofits’ skills
and expertise are complementary, rather than redundant. It’s likely that you and you're nonprofit
already collaborate with many like-minded entities. Can you expand your reach,
save administrative costs, improve services, or strengthen your brand by
strategically partnering with another organization whose work is aligned with
yours—or by deepening an existing partnership to unlock even more value? In our client work, we often reflect on how
direct service nonprofits would benefit from greater strategic access to the
expertise of think tanks and policy organizations—and, likewise, how the
relevance and impact of policy groups are strengthened through deeper working
relationships with implementing organizations. Likewise, we believe more nonprofits
would benefit by considering joint applications for grant funding. Why compete
ruthlessly for limited philanthropic dollars when you can stand
shoulder-to-shoulder with partners that have complementary areas of expertise,
potentially securing more financial resources for both organizations in the
process? Consider strategic acquisitions Mergers and acquisitions are common in the
private sector, but not to the same degree in the mission-driven space. Many
smaller, niche nonprofits likely won’t have the wherewithal to survive the
intense fluctuations expected through the next five years. Yet other
organizations, capable of surviving independently, would benefit greatly from
the additional resources, energy, and operational support that can come with a strategic
merger. By absorbing the capacities of a like-minded group, organizations can
expand their reach and impact without necessarily duplicating successful
programs that already exist on the ground. Moreover, acquisitions help
nonprofits get a running start when entering a new geographic region or program
area, sidestepping some of the start-up lag that often comes when building a
new internal capacity from scratch. Assuming there’s strong mission alignment,
the biggest issues in bringing two complementary nonprofits together will be
cultural. For example, does one have a start-up mentality, while the other is
more hierarchical and risk-averse? Do the Executive Directors have
complementary outlooks and personalities? Differences aren’t necessarily bad,
but they need to be carefully managed. An external consultant can often be
helpful in bridging divides, bringing people together, and working through
legal and logistical barriers. Cultivate a marquee event that positions you as “the
convener” While many nonprofits halted in-person events
and conferences during the pandemic, competition in our sector remains fierce
for the time and attention of decision-makers. And for good reason: through
their convening power, hosts get to act as the “glue” in the relationships of
their key stakeholders. Thus, they benefit from an intangible flow of ideas,
resources and connections that results in long-term value creation. Is there a way to leverage your existing
events machine to create something bigger? For inspiration, consider the World
Economic Forum: it was a single event before becoming WEF, an independent
organization that pumps out research reports and policy content, and hosts
summits far beyond the scope of an annual meeting. Your organization may be
local, or much narrower (and humbler) in its scope. Still, there may be an
opportunity to expand or sustain the momentum of your marquee convening beyond
its traditional bounds. Keep a close eye on new technologies In 2006 I signed up for an “online desktop
interface” called gooey. I could not even find a link anymore for this service.
The point is that, in 2006, local desktop applications were still the dominant
paradigm for how we worked. Today, other than the pre-installed Apple
applications, I do not use any local “desktop applications” and imagine you are
using very few as well. Web3 is not yet well understood and certainly
not the dominant paradigm yet. But just because the space is volatile at the
moment doesn’t mean it is not moving forward; rather, it is just finding its
legs. At a minimum it is worth spending some time reading about what is
happening in this space to get a better handle on what is being built. There
are marketplace and publicity advantages for early adopters as well. Consider
the first non-profit to accept crypto or use an NFT for a fundraiser? The world
will hear about it, regardless of the longevity of either tool as a funding
mechanism. Additionally, getting your digital asset house in order is something
you can do now, and will serve you well today and into the future. At the same time, we need to remember that
new technology is intended for one specific purpose: to make our work more
effective. If you end up working in service of a technology, or wondering why
you are not gaining value after a year of use, it’s time to consider if you
have the right tool. New is not always better—the hammer has been around for a
really long time, and it is still amazingly effective at getting a nail into
just the right place when hanging holiday lights! A call to embrace more innovative operating models One thing we know for sure: the future will
continue to be complex, and require a nimbleness and flexibility that’s often
challenging for large, long-established nonprofits to muster. As professionals
who care deeply about the success of our mission-driven sector, we see an
urgency in nonprofits overcoming our sector’s temperamental resistance to
change, and embracing more innovation in how they execute strategy. While it is
not realistic for organizations and cultures to completely change how they do
business overnight, charting a long-term path to transformation is a
possibility for every leader. This piece was originally posted at
ParsonsTKO.com. Special thank you to Vince Lamp one, an incredible editor, friend,
and thought partner.
The Stakeholder Economy & The Prospects of Collective
Ownership Brands have become decentralized — the memes, content, and
daily conversations of the masses increasingly define a brand. The next
generation of projects and businesses are also on a path to becoming
decentralized — where new block chain-driven organizational constructs turn
owners and customers into a community of stakeholders. This confluence of
decentralization will advantage emerging brands and local businesses, and could
prove to be the most disruptive force against the internet behemoths and global
marketplaces that rule the world. Yes, a bold proclamation, but bear with
me here… The Antiquation Of One-To-Many Businesses A theme of the last few decades in tech has
been massive internet-based business behemoths using their pricing power and
algorithms to crush local small businesses. Most of us are customers of these
companies, but they’re owned and operated by a precious few (sure, you can buy
stock, but you‘re just along for the ride). Similarly, such companies have long
leveraged traditional media to define and force feed their brand to the masses.
While I have long marveled at the speed and prowess of such companies (and
enjoy pithy taglines), I also wonder what insight or innovation could shake
things up. How might emerging or local businesses ever compete? I see two exciting disruptive forces at play
that, together, could change everything. The first has been boiling for
over a decade: Brands are now collectively determined by the content generation
of the masses as opposed to a creative agency and a nationwide ad
buy. Today, for all but the most iconic brands in the world, a brand is
only as good and fresh as the latest content and conversations taking place. In
a sense, brands are at the mercy of memes and social sentiments. Brands have
become decentralized. What your friends say — or even a stranger authentically
expressing satisfaction or disappointment — seems to have more sway than super
bowl commercials. Why? Because we still crave the ancestral “small town” of
reputation and brands built on trust. The consensus in real-time from
individuals on social media is powerful. In early 2018, I wrote a post
about the idea of Micro brands, thousands of tiny brands with low
overhead, high on design merchandise, and supremely efficient customer
acquisition tactics. Now looking back, many of these brands are no longer
“micro,” thanks to the organic growth and user-generated content they got on
social media —from customers and influencers, and often for free. The second disruptive force at play is the
construct of decentralized organizations turning customers (and employees) of
businesses into owners. We’re seeing this happen in the aptly named “Web3”
space. Picky McCormick defines Web 3 as “the internet owned by the builders and
users, orchestrated with tokens.” And the pioneering all-things-crypto investor
Chris Dixon (also one of my early seed investors for Balance back in 2011)
further explains, “In Web 3, ownership and control is
decentralized. Users and builders can own pieces of internet services by owning
[or earning] tokens, both non-fungible (NFTs) and fungible…Tokens align network
participants to work together toward a common goal — the growth of the network
and the appreciation of the token. This fixes the core problem of centralized
networks, where the value is accumulated by one company, and the company ends
up fighting its own users and partners.” While Chris’ focuses mostly on the benefits
of decentralized online services and big platforms, I can’t help but imagine
the same technology being applied to the long tail of smaller businesses both
on and offline. Imagine if your favorite online publications, e-commerce
brands, and small businesses in your town — from restaurants and Laundromats to
ice cream shops and barbers — were able to frictionless (read: without a
prohibitively expensive “IPO” or massive infrastructure to manage) distribute
ownership to every stakeholder. Might the benefits of collective ownership of
small companies be the biggest threat to big companies? If every stakeholder of
these businesses was deeply incentivized to help build, improve, market, and
patronize the brands, would that become a competitive advantage against the big
guys? Would a “many-to-many” business out-market a “one-to-many” businesses in
a material way? In A Stakeholder Economy, Every Business Is Its Customers The concept of “stakeholder capitalism”
describes a system in which corporations are oriented to serve the interests of
all their stakeholders. But I think the confluence of decentralized brands and
decentralized businesses gives rise to a new era where the boundaries between
companies and their customers are harder to discern. This idea is most powerful
where there is the most pain right now: small towns and locally-owned
businesses. What might this look like in the future?
Perhaps we will all own a piece of the many online businesses and marketplaces
we frequent, as well as our favorite local restaurant, ice cream shop, and
coffee house. Imagine every subscriber to your newsletter becoming a
stakeholder as well as a reader, and what that would do to viral marketing?
When you like a brand or service, you can buy tokens or earn them by
contributing labor in the form of clearly defined and measurable tasks. Our
tokens would entitle us to vote on certain decisions (flavors of the month?),
serve as an engagement vehicle, turn us into passionate unpaid marketers, and
would carry (perhaps even grow) a residual value that can be sold on an open
24/7 market to new residents and customers (or speculators seeking exposure to
mom and pop shops in stable communities) — or perhaps these tokens can even be
redeemed for merchandise? Perhaps you’d be able to buy your ice cream with
(tokens in the) ice cream (shop)? There are a number of technologies and
increasingly popularized business models and product experiences that could
help make this possible. First, there is the rise of the DAO (decentralized
autonomous organization) that makes it far easier to incorporate a business and
sell tokens (with or without a vesting period) to a community of new and
interested “owners” that feel incentivized to patronize, improve, and grow the
business. These DAOs are increasingly turnkey and a broad variety of tools are
being built to administer them. Second, the concept of subscriptions could
easily be leveraged for local shops and services and managed centrally in a
town subscription app. With the stability of subscription-based revenue (and a
modern tech stack and CRM), many small businesses would not only survive but
thrive by doing more bundles with other shops and efforts to surprise and
delight customers. The Stakeholder Economy & The Good Ol’ Days I’ve come to call this concept “The
Stakeholder Economy” because the traditional construct of “owners and
customers” is being replaced by a far larger and more deeply incentivized group
of “stakeholders” that will, with the right system design, give the advantage
to decentralized marketplaces and businesses with better retention and business
stability, and radically cheaper costs of customer acquisition and marketing. Perhaps the reason I am most excited about
the Stakeholder Economy is that it takes us back to the way things once were.
When forecasting the future of tech, I’ve long subscribed to
the sentimental reflex of tech — that we inherently long for the
way things once were and, in every transaction and experience, seek a return to
intimacy, relationships, and small town mechanics. We want to be known, we
want to support people we trust, and we feel a personal benefit when our
community benefits. Suddenly, our local shops are not only supported by the
community, but grown and advantaged by a level of dedication only felt by true
owners, but at scale. The Stakeholder Economy can restore a sense of small
town pride, at scale to the world of brands and business. As we all have the opportunity to own a part
of everything we enjoy — from an online marketplace, a publication, a local ice
cream shop or your favorite beverage company — the key levers of business like
marketing, sales, and distribution will be transformed by the natural
tendencies and preferences we’ve always had within us. There’s nothing more
authentic and effective than helping sell something you genuinely love and own. ~~~ Continue the conversation and connect with
Scott on Twitter, check out other recent posts like “What
is Seeing The Matrix for Product Leaders?” “8 Themes for the Future of
Tech,” get his latest book — The Messy Middle, or sign up for an
infrequent newsletter of insights. Artificial Intelligence is a
buzzword right now. You’ve probably heard this term at some point in your life
where you were either fascinated with it, scared by the potentials of AI, and
more afraid to know what it really means. There are multiple types of technologies
that will revolutionize our lives with their application in healthcare,
transportation, and other industries. Let’s take for example Amazon and how they
have grown so much without having created any disruptive technology. But if we
talk about artificial intelligence in the consumer space, we can also start
talking about companies like Uber, Lyft, and Instacart. Here is a shortlist of
these companies that are using Artificial Intelligence in their business. 1) Uber Uber has brought down prices
for all its services. They use customer feedback to determine whether a
certain service should be discounted or not. The feedback process involves
taking into account location, traffic, weather, and past user experience. It
offers an instant response within the shortest time possible. These kinds of
features make them one of the best ride-sharing apps around. If you don’t want
to go through a lengthy verification procedure, check out Uber’s free car seat
and driver’s license options. 2) Airbnb Airbnb offers you full-fledged
travel plans of a house or apartment. This feature allows users to book up to
ten different rental properties on demand. With such a simple and easy booking
tool, it made me wonder how do I still need to rent my home? In case you have
an unused room, check Airbnb’s affordable rentals. And if you have ever thought
about owning a property by making it your own, try renting it out at another
person’s house or even renting a vacation home. 3) Netflix Netflix is popular worldwide
and every year the company continues growing. And recently, the platform
introduced its first global premium video streaming service which is dubbed as
“Netflix for movies”. Netflix has become one of the most successful companies
today because of its strong focus on expanding content variety. Although there
are still several issues that have limited Netflix’s growth throughout the
years, they make sure the brand doesn’t lag behind. That being said, Netflix
definitely needs to expand its offerings to reach a broader audience. 4) Google Photos Google Photos is a powerful
photography app for both professional and personal photographers. Whether it is
shooting landscapes or portraits, anyone can get started using this incredible
mobile app. After all, you can use Google Photos from anywhere in the world. As
soon as you create a photo in Google Photos, it automatically becomes available
at millions of online stores, including those owned by major brands like
Facebook, Pinterest, Twitter, Apple, Instagram, and thousands of others. Of
course, you also don’t necessarily need to invest hundreds of dollars to buy
your desired camera or lens as the Google Lens enables us to add value to our
photos by adding additional frames. Plus, you can save time. Just drag and drop
your image to the folder of your choice and choose from templates, stickers,
and presets. 5) Snapchat Snapchat was one of the hottest
trending apps last month. Not only did Snapchat surpass other social media
platforms like Facebook, Snapchat, Instagram, and LinkedIn as the top spot in
terms of daily active users, it also grew by 50% since November 2017. What does
this mean? Snapchat is far ahead of its competitors when it comes to targeting
young children. And, Snapchat uses machine learning algorithms to identify key
phrases which then gives parents information regarding their kids’ activities.
Snapchat also makes sure younger kids are getting enough sleep, exercise, and
nutrition to maintain excellent health. 6)
Spotify Spotify doesn’t just play
music, they help artists build their careers. While the name suggests that they
are for music lovers only, the platform is actually made for people who share
their songs and artists who upload exclusive tracks. Artists can create
playlists and earn money by doing so. Since 2015, Spotify has been able to
generate over $13 billion in revenue with a fan base of more than 130
million people. The startup is well-positioned to grow its listener base
because of its unique strategy of partnering with artist friends. With Artist
Management Pro, artists (from all walks of life) can set themselves up as a
manager for artists and receive cash-in payments for their performance. 7)
UberEats With over 50,000 new
restaurants added each year, many families are spending more time searching for
food, rather than eating it. Because of this, Uber Eats is creating a meal
delivery service as well. Currently, they are the leaders in this industry and
have the biggest market share. Even though it’s not too late yet to become an
UberEats driver, you can learn how to drive for free. 8)
DoorDash DoorDash is a digital grocery
delivery company and one of the fastest-growing businesses. Their marketplace
connects small and medium-sized retailers to deliver groceries directly to
consumers. The idea behind this concept is simple — give shoppers what they
want and let them make it happen. If you have any concerns about shopping for
food online, DoorDash is here to offer support. Check out their website for
more details about their service and how to get started. 9)
Grocery Delivery Service With the boom in sales of fresh
groceries, grocers have also started providing groceries in home deliveries.
Grocery stores like Whole Foods, Sprouts, Aldo, Costco, Whole Food Market,
Sam’s Club, Chegg, and Jamba Juice offer convenient ordering services to
customers, as well as delivery options for busy families. For more interesting
facts about this industry, read this article: Why We Need To Choose A Grocery
Delivery Company? 10)
Foursquare Foursquare has become a great
way to reconnect with your local neighborhood. People in various cities can
connect or watch live sports, play games, listen to music, read news, and watch
live sporting events like NBA Finals, UFC, FIFA, and MLB. At present, they can
have an average of 100 million monthly users and boast a positive rating of 4.2
out of 5 stars. The company is currently working towards acquiring 25 million
users per year and is looking forward to continuing its growth. You can use the
Foursquare App for everything — from searching for neighborhood maps to paying
bills online, to watching TV shows and podcasts. Its current free trial is
still ongoing until June 2019, but you can upgrade it for $1.99 a user. 11)
Zillow Zillow is a search engine used
across the globe by real estate professionals. Apart from helping buyers find
properties near them, the platform provides sellers with valuable insights into
buying and selling homes by analyzing consumer behavior. From the data
collected, Zillow puts together customized searches based on variables like
price, size, and amenities to help people find the perfect house or address
their specific needs. It also has an area database of almost 250 million square
feet in the United States. 12)
MyPillar.io MyPillar.io is an eCommerce
platform that helps you sell products on your personal and professionally
designed websites to boost traffic. From clothing to food to household
essentials, you can sell anything on your personal sites. There’s no limit to
what you can sell, which includes apparel, jewelry, beauty supplies, cosmetics,
books, art, kitchenware, shoes, clothes, and more. You can even sell services
like web design, graphic design, programming, accounting software, and more,
from your site. Also, let this app help you customize your store’s look so that
people are attracted to it and they keep coming back for more. 13)
Shopify Shopify is a comprehensive
platform for selling and running online businesses. Unlike many other
platforms, Shopify offers unlimited inventory, the ability to accept payments
safely and securely, fast shipping, and customization options. Your website’s
visitors are able to see exactly what they’ll receive after the sale without
leaving the page. However, if they leave before seeing exactly what they’re
receiving, it would eventually lead to unhappy customers. On the other hand,
Shopify is completely web-based and requires very little maintenance work. In summary, the above apps are
going to transform things and bring in newer ways of commerce. By using the
three mentioned applications, we can expect to see a massive expansion in this
sector. All major players are investing heavily in developing the next big
innovation such as robotics, AI, AR, VR, and blockchain that will usher in
future innovations. Want to know more about the
applications of Artificial Intelligence in the Business? Read How Big Data Is
Exploding and How Companies Are Changing How Revenue Streams Run:
https://www.cisco.com/us-en/us-en/services/how-big-data-is-exploding-and-how-companies-are
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