Op-ed

The beauty industry is about to get a facelift thanks to the power of AI. While the industry has been using AI for years, only recently has it started to revolutionise the way we think about skincare and cosmetics. Yet before we get ahead of ourselves with thoughts of robots that are set to take over our lives, let’s be clear here - we're talking about machine learning.

Many people in the workforce are considering more progressive modes of work and questioning the conventional values that were once at the core of the way we work. There is an increase in people leaving traditional employment structures and either going to non-traditional work (temporary, gig/freelance, or part-time roles) or starting their businesses.

Like most businesses in Australia and New Zealand, financial services organisations have been through major digital transformation and innovation over the past three years. Rapid changes in customer and employee behaviours, accelerated by the COVID-19 pandemic, have created a need for new and more personalised experiences. The shift to hybrid work in particular has required the adoption of new tech that enable employees to collaborate from any location.

It takes years to build a brand, but the loss of trust or reputation can happen overnight, and a cyber attack can cause a loss of trust. Leading email security and cyber resilience company Mimecast, has launched its inaugural Brand Trust Report, showing the impact of cyber attacks on consumer trust and how it is playing out for brands across the fiercely competitive digital economy.

Strict lockdowns in China – as the country tries to eradicate the spread of COVID – are not only affecting its citizens, but also having flow-on impacts on trading partners, like Australia. There are four impacts of the lockdowns that are set to have ramifications for agribusiness – disruptions to freight logistics, Chinese corn plantings, dairy demand and hog pricing.

The biggest issue facing businesses in 2022 is attraction and retention of staff. Enquiries from businesses needing cashflow solutions to help bolster their ability to attract and retain staff is now one of the biggest areas of finance activity for Earlypay. With record low unemployment, a national labour shortage and rising costs due to inflation, workers are in the block seat.

The second half of 2022 has seen several high-profile data breaches. Attacks ranged far and wide, from major corporations like Optus and Medibank to smaller businesses, leaving CISOs and boards concerned. And it’s brought cybersecurity into the public eye on a new scale. 2023 will further present challenges with the tried and tested attacks set to continue, while we see some new tactics come into play. Preparedness and organisation-wide awareness about cybersecurity is going to be more important than ever, as we will most likely see brands that have already been hit in 2022 become the target of further attacks in 2023.

Business communication is evolving, and in 2023, it is more important than ever for firms to approach it strategically and effectively. A multichannel communication platform, like the one offered by our firm, can help businesses streamline and optimize their communication efforts. One of the biggest changes in business communication has been the shift towards digital channels. Email, instant messaging, and social media are now essential for all businesses.

The recent 25bps hike is in line with consensus expectations and many will see it as the most palatable outcome for markets. There was talk of a pause in the lead up to the meeting, but sentiment about the financial sector has turned more positive in recently, and investors are reasonably confident that quick actions by regulators have avoided a systemic financial crisis.

As the United Kingdom begins to settle after the changes brought on by Brexit, it is clear that many traditional avenues of export – and by extension business growth – have been closed off. Goods and services trade with EU partners is declining, but other regions are now rising to fill the breach.