Identifying Opportunities in Economic & Regulatory Trends

Economic Trends:

1. Diverse Payment Options

a) https://www.entrepreneur.com/article/325070
b) An opportunity may exist here for consumers and businesses. The alternate currency may be an accepted form of payment to pay for goods or services, which could attract more consumers.
c) The customer who may take advantage of this opportunity is someone who understands alternate currency and prefers to use it. Another customer that could take advantage of this is someone who is intrigued by it and wants to test it out.
d) The opportunity may be difficult to put into action. People are so used to traditional currency that they may be hesitant to try something new.

2. The ending of Ownerships

a) https://www.forbes.com/sites/stephaniedenning/2018/12/27/2019-business-trends-executives-need-to-consider/#52d6b951229e
b)An opportunity may exist here for people who will rent out their homes. This is already gaining popularity in companies like Airbnb. People can make a profit from renting out the spaces they own.
c) The customer who may take advantage of this is the young customer who is still getting their feet on the ground. These people may not want to be buying property right away. Older consumers will benefit from this as well because they will be making a profit of the land they own.
d) This opportunity is not very hard to put into action because many people know already rent out their spaces. What may become an obstacle is when fewer people own properties.

Regulatory Trends:

1.  Artificial Intelligence

a) https://www.entrepreneur.com/article/325070
b) An opportunity may exist here for large companies who are trying to expand their customer service experience. With artificial intelligence, chatbots answer questions of consumers, getting back to customers much quicker than normal.
c) Any customer may take advantage of this opportunity. If this is the option for customer service from companies, then customers will have no choice but to use this feature.
d) Obstacles with this opportunity include taking the time to code the artificial intelligence to know the answers to all the questions and know at which point the customer may need real life help.

2. I want it now mentality

a) https://www.forbes.com/sites/stephaniedenning/2018/12/27/2019-business-trends-executives-need-to-consider/#52d6b951229e 

b) An opportunity exists here for smaller businesses to join the bandwagon of instant delivery of goods and services. This opportunity for small businesses could be in a certain region or area to make it more attainable for the service. 

c) Customers will take advantage of this type of service because it is the shifting way of mind of society. No longer do customers want to wait for things they order, they want them instantly. 

d) Obstacles for this opportunity is competing with large companies like Amazon. But, many customers like to shop local so if smaller businesses provide the same convenience, then they would be likely to purchase from them.

I saw the opportunity in all of these things because of the attraction to the ever-changing consumer. All of these things are new ways that companies are becoming successful, with the consumer in mind. If the consumer is happy, they will continue to take advantage of the opportunity and more profit will be made. For new currency, I think it is a unique and new innovative way people will be able to pay or exchange something for goods. For the ending of ownership, I think that the future of our society is moving towards a more renting society. If we can recognize that, we can take advantage of the business opportunity. For artificial intelligence, if companies can adopt this technology, they can cut costs in one area of their business and put it towards something more useful for the consumer. This will also help the consistency of their business. For the "I want it now" mentality, if we give the customer what they want and keep them happy, this is an opportunity for business to have repeat customers who share their great experiences with others.