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FORRESTER RELEASES 2023 PREDICTIONS FOR NORTH AMERICAN BUSINESSES
According to Forrester ' s 2023 predictions , trust will be at the forefront of organisations ' business operations in the year ahead as business and technology leaders focus on prioritising long-term growth .
Current factors , including economic and financial instability , geopolitical uncertainty , company scandals and climate change , are undermining consumers ' trust in organisations – nearly 40 % of US consumers will stop doing business with a brand following a damaging headline .
Firms that earn greater trust with consumers and employees drive loyalty behaviours , such as retention and advocacy , helping to ensure resiliency and long-term growth . As customer and employee distrust continues to rise , in 2023 , regulators will step in and crack down on greenwashing , misinformation and employee surveillance practices . Forrester predicts that multiple companies will incur millions in greenwashing fines , while a C-level executive will be fired for their firm ' s use of employee monitoring .
Forrester ' s predictions analyse the dynamics and trends in different topics and industries , including technology and innovation , customer experience ( CX ), the Metaverse , Artificial Intelligence and automation and the future of work .
These insights help business and technology leaders see around the corner and gain a competitive edge to thrive in the year ahead .
Highlights from Forrester ' s 2023 predictions include :
Trust in consumer technology companies will decline by 15 %. Waning tech dependency , combined with tech company scandals , an inability to protect users from emerging risks and a lack of effective ethical measures in their digital environments will progressively erode consumers ' trust .
At least 10 companies will incur US $ 5 million or more in greenwashing fines . Greenwashing scrutiny from distrustful consumers and empowered watchdogs will significantly increase , pushing regulators to target companies that spend more time and money on marketing themselves as environmentally conscious than actually minimising their environmental impact .
AI usage to monitor work-from-home productivity will batter employer trust . Rising firm and business-leader usage of AI to track knowledge worker productivity will result in more than half of employees actively seeking new opportunities at new organisations in the next year , Forrester finds . Employee distrust will be further fuelled by 40 % of hybrid working companies attempting – and failing – to undo their anywhere-work policies .
Banks will lose consumer trust during economic turmoil . Consumer trust in banks is falling for the first time in several years , as many consumers believe that their bank lacks empathy and isn ' t following through on lessons learned from the pandemic , according to Forrester .
People ' s trust in the government will increase in the US . In 2023 , the US will build on dependability – the ability of a government to keep people safe , foster economic growth and ensure effective recovery from crisis – as a core lever of trust while also investing heavily in trust levers such as accountability , competency and transparency . x
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