A decade in review: 10 trends that defined 2010 – 2020

It’s hard to believe we’re at the start of a new decade. Starting in January, “The ’20s” may no longer be used in reference to Prohibition and Flappers, but to Robotics and Artificial Intelligence instead.

First, we must say goodbye to the most turbulent and transformative decade of the 21st century so far—one that has surely set the stage for our business and cultural priorities for the rest of the century. Here are 10 things that have come to define this decade and are shaping trends for years to come.

1. Millennials have come of age as consumers and business leaders.

In 2015, Millennials surpassed Gen X as the largest generation occupying the U.S. workforce, reaching 56 million in 2016 according to Pew Research. As we recently noted, Millennials are now driving purchasing decisions in business as well. Both B2B and B2C companies must adapt to Millennials as customers and better align with their priorities and values.

2. Businesses are more responsible for the social and environmental impact of their behaviors.

When choosing what to buy, customers now look beyond products, services, branding, and advertising. They want to know how their products are made, what impact production has on communities and the environment, and what the companies who provide them stand for.

This new values-driven approach to consumer and business purchasing will force companies to change everything about how they do business—from the ways they invest and get their energy to the ways they source their materials and labor.

3. We’re woefully unprepared for modern cyberattacks, let alone the threats of the future.

If the last 10 years have taught us anything about cybersecurity, it’s that the business world is unprepared. In fact, it wouldn’t be a stretch to say that many of our institutions are at the mercy of cybercriminals.

2018 witnessed a 350% increase in ransomware attacks; meanwhile, large scale attacks have led to massive losses and the exposure of sensitive consumer data. In the past, we’ve placed the responsibility on consumers to protect themselves—but that’s not a sustainable model for companies that want consumers to trust them with their data.

4. Consumers have control.

It’s easier than ever for consumers to mobilize for and against brands thanks to digital tools, and there are ample examples of their success. Today, 67% of company valuations are “intangible,” according to Harvard Business Review. That means a company’s value is out of their immediate control and in the hands of consumers and the general public.

5. Personal data security is now a top priority—and a commodity.

Apple, once widely criticized for its use of customer data, is now differentiating itself as the “tech company you can trust” with your personal information. Personal data protection is now a key selling point for brands.

Companies will attempt to align personal security with their branding is they look to differentiate themselves in this growing area of concern. Consumers will respond by prioritizing certain brands to meet their data security needs.

6. Artificial intelligence and automation will augment the employee experience.

Only 20 or so years ago, AI was a pipe dream. Now, it’s found its way into all aspects of business—from customer service to industrial manufacturing.

But while employees worried for years the machines would take their jobs, we’re beginning to find that the ideal applications of AI are to ‘augment’ human intelligence, not replace it. There’s no denying that automation, AI, and other technologies will eliminate some traditional positions, but they will open up new opportunities as well.

The next decade will be shaped by how we prepare the workforce to share their space with intelligent machines.

7. Personal technology is shaping our collective future.

Even as companies transform their internal technology infrastructure with automation and AI, personal technologies are empowering everyday people more than ever before. A whole new generation is growing up with personal technologies, with access to hardware and software once only available to professionals and elites.

How is it going to shape their expectations and skillsets in the future?

8. Video games have become a permanent part of mainstream media.

Millennials—and to some extent, Gen X—were the first generation to grow up with video games. They clearly enjoyed them, as they’re still playing them as adults to the point that they’ve become part of mainstream culture. Whether you play occasionally on your mobile device or your play in one of the new televised video game leagues, if you live in the U.S., you’re more likely to have video games in your house than not.

9. The Internet has reached a breaking point and now faces an uncertain future.

Conceptually, there’s a lot to like about the Internet. It’s an environment of total freedom and accessibility—but not without its pitfalls. As the internet changes the way society interacts (and attacks) itself, the founders of the internet are making the case for a new ‘contract’ in the coming decade.

“Never before has the web’s power for good been more under threat,” said Adrian Lovett, CEO of the World Wide Web Foundation.

10. The values and principles that bind us together grow stronger—for better or for worse.

The values and principles that bind people together are stronger and more accessible than ever before. Not all of them are ‘good.’ Many of the things that are most disturbing about our society have always been there, just not necessarily recorded and broadcasted so publicly. Now, it’s common for regular people to publicly align themselves with a cause or political belief.

What we’ve witnessed then over the past decade is, perhaps, in part a turn for the worse, but also in part a willingness among regular people to take society’s biggest problems head-on. It’s sometimes hard to be optimistic about our collective future. But if you get discouraged about what the 2020s might hold, remember that things can change quickly, and often for the better.