Analysis presents seven trends for 2020

In many parts of the world, people are taking their criticism of the idea of growth and pure profit orientation onto the streets, into politics and into the boardrooms. This is forcing companies to rethink: creating meaning is becoming the biggest challenge they will have to face in the next 12 months. This is the conclusion of "Fjord Trends 2020". "More and more people are asking the question: what 'purpose' do brands and companies have - in other words, what is their reason for being and from what do they draw their justification for earning money?" says Christoph Loeffler, managing director of Fjord for the German-speaking region. "Most companies have so far failed to provide the answer."

Trends for 2020: Focus on creating meaning

Meaningfulness resonates in many of the seven trends Fjord identified, chief among them:

• Many faces of growth: "'More' is being redefined" - Growth is getting new faces. Capitalism in its current form is in midlife crisis. Financial success no longer serves as the decisive measure of entrepreneurial success. In Switzerland, too, customers are increasingly measuring companies by their achievements for society, such as inclusion, diversity and employee well-being. More than ever, this includes progress in sustainability and contributions to environmental and climate protection. "Even if Swiss business has a high awareness of sustainability: Most companies are far from having transformed their supply chain to reach more people with less and the right things. But that has to be the goal," says Hartmut Heinrich, Group Director of Fjord Zurich.
• Liquid people: "Meaning is booming" - also at work. The purpose of a company also counts for the workforce. This is important for Swiss companies for two reasons: full employment and the problem many industries face in developing digital products and services that are internationally competitive. "The best qualified and motivated people come to companies that offer two things: first, a sense of purpose that goes beyond titles and salaries, and second, forms of work in which roles, hierarchies, and a culture of presence play second fiddle," says Hartmut Heinrich, Group Director at Fjord.
• 'Life-Centered Design' on the triumphant march" - less I, more we. The two developments described above are fuelling the triumphal march of so-called life-centered design. Behind this is the claim that an object or process not only works well for the individual, but also serves its environment. The principle has been around for a few years - and is now well on the way to replacing user-centered design as the design gold standard. Hartmut Heinrich: "Companies definitely recognize the profound social change. But the biggest obstacle to purpose transformation is: In the end, the familiar, mostly short-term parameters such as shareholder value, sales figures, and margins again tip the scales."

"What doesn't help at all is 'purpose washing,' i.e., companies asking the workforce for the purpose and then imposing it. Instead, organizations should dismantle hierarchies so that all employees can contribute not only to the definition but also to the evolution of purpose. Most companies still shy away from this. But it would help them and Switzerland as a business location in the long term if they consistently addressed the creation of purpose now, rather than being driven to it.

Further trends of the report

• Walking barcodes: "People become barcodes" - bodies become digitally readable. Using image and facial recognition technology, machines can identify people and assess their feelings. A person may then trigger offers based purely on their presence that are tailored to them and the situation - initially primarily personalized advertising.
• Designing intelligence: "Artificial Intelligence or Intelligent Artificial?" - The progress and problems of artificial intelligence have been a dominant theme in recent years. In 2020, the main question will be: What do we need artificial intelligence for - and what do we need intelligent artificials for? In other words, what does AI do invisibly in the background, and in which situations do humans have to deal directly with smart machines?
• Digital doubles: Virtual doubles are created from the data that each person leaves behind. In the best case, each person has full control over his or her digital doubles. These can become useful gatekeepers and proxies when dealing with organizations and other people.
• Money changers: "Money on Exchange" - Virtually invisible payment systems are changing our relationship to money, and new entrants are turning the banks' business upside down. This is changing people's relationship with money and their understanding of and demands on payment processes.

Fjord Trends 2020 is fed by the professional observations and customer work of more than 1,200 Fjord designers, developers and consultants.

Source and further information: accentureinteractive.com and fjordnet.com