Trust-Doom and ‘Intrapreneurs’: The Top Trends of 2023

The top trends of 2023

1. Recessionette
Consumer sentiment is being significantly impacted by a multitude of headwinds including global uncertainty, rising interest rates and cost of living increases.

This impaired sentiment can lead to reduced future spending.

So, whether we enter a technical recession this year or not, it already feels like we are in one – recessionette – from a consumer perspective.

2. Population growing pains
Closed international borders during the past two years have resulted in movement of the population internally.

Large scale, rapid population movements from capital cities to regional areas is bringing opportunities but also growing pains that these areas will need to manage.

3. Trust doom loop
In recent times, trust in government, leaders and institutions has declined.

Yet in an era of fake news, trust is more important than ever.

What we have seen governments and institutions do in response is to double down with policy solutions.

However, virtue can’t be legislated. This burns off any good will, acts as confirmation bias of the negative views of power, and trust is further eroded.

Leaders need to avoid the trust doom loop by being aware of overreach, solving issues collaboratively, using the power of relationships and appealing to people’s highest nature.

4. Virtuous consumerism
Sustainability has been on the rise for some time. As the pandemic quietens down in public conversation, concerns for the planet and supply chains will take its place.

Consumers in 2023 will continue to consider environmental impact, sustainability, circular economy and supporting small business.

They also will consider price and convenience when choosing what to buy or who to do business with.

As a result, organisations need to be thinking about their strategy for ESG (Environmental, Social and Corporate Governance).

This needs to be done authentically though, not just at a governance level.

5. HumanitAI
Digital transformation in the worlds of Artificial Intelligence, Augmented Reality, Virtual Reality, the Internet of Things and Cloud Computing will accelerate in 2023.

The evolution of these technologies and their interconnectedness is blurring the boundaries between them, to create more personalised and efficient processes and systems.

Increasingly, technology isn’t just a tool we use, but it is embedded into life and humanity.

We can expect to see AI become even more integrated into humanity in the year ahead. Especially because AI is at its best when humans are in the loop, to ensure it is used to enhance human flourishing.

6. From industrial to artisan
As the world of work moves away from manual and industrial labour due to the sophistication and adoption of AI, work will become more about value added rather than how much we can output.

This trend is resulting in a counter-trend, from mass production to quality, niche and unique.

Workers too are looking to be creative and fully engaged in work which contributes value.

As people focus more on local impacts, artisan products and working with purpose, it seems that bigger is not always better.

7. Rise of the Intrapreneur
People are searching for meaningful careers and a sense of ownership, but without the risk and cost of their own organisation.

Meet the Intrapreneur – highly engaged and innovative like the entrepreneur, but works within an organisation.

In a world where side hustles are ripe and people are holding down multiple jobs, organisations will need to pay a premium if they want undivided attention from their employees.

As a result, we can also expect to see a leadership shift away from monitoring to mentoring and doubling down on culture to attract and retain great talent.

8. Preparing for intergenerational transfer
People are continually ageing and evolving.

However, in 2023, we will see some significant generational changes which we need to be prepared for.

For example, in 2023, the oldest of the world’s youngest generation (currently), Generation Alpha, will become teenagers.

This will result in levels of even greater influence than they already have.

Oftentimes, intergenerational knowledge or wealth is transferred from one generation to the next.

However, there is a shift from hierarchical and linear generational transactions to flatter and more collaborative intergenerational connections.