Insights

It is not surprising that Gartner lists AI as well as Intelligent Apps and Analytics among its Top 10 Strategic Technology Trends for 2018. The impact of these technologies has started to become apparent even in our daily lives.

Machine learning has emerged as one of the biggest buzzwords in the recent years. As per International Data Corporation (IDC), spending on AI and ML is expected to grow from $12B in 2017 to $57.6B by 2021. Deloitte anticipates that the number of machine learning pilots and implementations will double in 2018 as compared to 2017.

Over the next few years, we can fully expect the use of Machine Learning and AI to become mainstream as more organisations discover its many applications. IDC has estimated that by 2019, 40% of digital transformation initiatives will use AI services and by 2021, 75% of enterprise applications will use AI. The possible applications could range from insights to predictions to recommendations on running the business better. As a result, machine learning can help bring about several process improvements too.

Here are some examples:

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The growing popularity of e-commerce for retail has had a significant impact on distribution as well. As per the Digital commerce 360 report, 41% of wholesalers surveyed call eCommerce their top sales channel, up from 31% that the same survey had indicated, an year earlier. 88% B2B purchasers prefer to shop via eCommerce, according to an MDM - Baird Distribution Survey.

As competitive forces and margin pressure reign supreme, manufacturers and distributors are bracing themselves for what’s ahead in 2018. While some are embracing the challenges and responding to the current marketplace by taking advantage of those challenges and preparing for growth, there are several who are still scrambling to adapt.

Here are the biggest trends that we are seeing in 2018. By developing a plan for these trends, there is an opportunity for executive leadership to convert challenges into opportunities.