It s no secret that e-commerce has experienced a rapid surge over recent years, reaching a nearly 50% user penetration rate for digital commerce in 2020, and more skyrocketing growth throughout and following the COVID-19 pandemic.
From remote workplaces to the metaverse, the world of business is becoming more and more virtualized. Digital business models are taking over, and companies are being led to unique optimizations, such as automatization, data-driven decision-making, and streamlined collaborations.
As the year comes to a close, 2022 could be argued as one of the most difficult years for business sectors. But for the hospitality industry, hotel owners, restauranteurs, operators, and global brands pursued new opportunities and grew their portfolios through mergers and acquisitions of other companies.
Over the last 14 or so months since I started writing this blog, I ve written about technology, automation, the metaverse, and the unique differences between hospitality and service. Welcome to the conversation ChatGPT.
Everywhere we turn, the impact of digital transformation is tangible and undeniable. Digital innovation has forever altered how we live, work, and connect – and the pace of this ongoing transformation seems to only accelerate with each passing year. To this effect, in the best-selling book ‘The Future Is Faster Than You Think: How Converging Technologies Are Transforming Business, Industries, and Our Lives”, Peter H. Diamandis notes that (based on futurist Ray Kurzweil’s calculations) we should expect to experience twenty thousand years of technological change over the next one hundred years.