Business World is Set for a Shake-up Over the Next Year

As the world hurtles towards the midway point in the decade, it would be fair to say that many elements of business are in a state of flux.

Disruption appears to be the name of the game and some of the changes could be truly transformational in their respective sectors.

With that in mind, we look at some of the key business trends to monitor in 2025, starting with one which could be seismic in the Middle East.

Kuwait Could Join the Global Gaming Bandwagon

Conservative regulations in the Middle East have traditionally banished gambling activities, but some countries have started opening their doors and Kuwait could jump on the bandwagon.

The United Arab Emirates recently awarded a licence to Wynn Resorts for their ongoing project that will house the nation’s first-ever land-based casino.

The potential benefits of gambling to the economy, especially in tourism and revenue generation, are becoming more difficult to ignore, so it wouldn’t be surprising to see Kuwait switch sides.

This would allow them to create a new revenue stream through all forms of gambling, paving the way for regulated online slots in Kuwait.

Online casinos already welcome Arab players, but establishing a licensing infrastructure would transform how the industry operates within Kuwait’s borders.

Kuwait will likely face some internal resistance, but they could soften the blow by taking a page from the UAE’s regulatory handbook to create their own unique framework.

Organisations Could Start Integrating Generative AI in their Business Strategy

Technology gurus have spent the last couple of years teasing businesses about the potential of generative artificial intelligence (AI) and how it could be a game-changer in the industry.

However, 2025 could be the year it officially makes its long-awaited foray into the business sector and starts making a real difference.

Organisations will likely move from merely being fascinated by the potential of generative AI to building their business strategy around it.

When AI first started sweeping through the entire business landscape, big guns such as Google, Amazon and Netflix started redesigning their strategy and centered it around deep learning.

That move changed several business models like online advertising, retain and media streaming, but generative AI is yet to have a similar impact.

We’ve mostly seen companies add AI tools like chatbots to their existing services, which has been helpful but not enough to leave a lasting impact or redefine business models.

We may start seeing a more strategic use of generative AI that changes the very foundation of business in industries such as healthcare, manufacturing and education.

Customer Experience Comes to the Fore

Customer experience will become the key factor that sets successful businesses apart in 2025.

Customers are doubling down on their choices, which means markets are becoming more competitive as they strive to meet unique demands, but delivering on quality and price may not cut it anymore.

While they will always be important factors when dealing with goods and services, customers now expect businesses to meet them where they are, and those that can deliver on these expectations will be a step ahead of the others.

Businesses will have to turn to AI and data analytics to understand their customers better and gain a competitive edge.

These tools can help them gather deeper insights into customer preferences and behaviour so they can create highly personalised experiences on a large scale.

Getting the required data in real time will help them treat customers as valued individuals and tailor their services to meet every unique need.

Customers are loyal to those who value them, and businesses that can make it happen will reap the benefits.

Developing the Capacity to Survive Amid Economic Disruption

Ongoing conflicts across the world, economic uncertainty and fluctuating market conditions are making it tough for companies to stay steady.

However, organisations must find the resilience to survive and adapt to these challenges. Resilience goes beyond just weathering the storm. They have to be ready to handle surprises and quickly change direction when necessary.

They must understand how certain risks such as supply chain problems, shortages of skilled workers and even the chance of another pandemic can impact operations and plan ahead.

That is where AI’s predictive ability comes in. Predictive AI can give companies a head start, by predicting problems before they happen.

However, organisations must also adopt flexible practices, including a dynamic supply chain and versatile workforce management, to bolster their chances of taking on challenges head-on.

Ignoring the lessons learned during the pandemic would be a big mistake for obvious reasons, but the key message is to expect and prepare for the unexpected.

Next year will come with plenty of challenges and opportunities, but building resilience will help businesses not just survive but also thrive.

For More Information Visit Coopermagazine