Future Forces Report
The six megatrends shaping business over the next decade.
Change is a constant, but effective business leaders understand that disruption also brings growth opportunities.
To help business leaders gain a better understanding of the major forces shaping this change, Ashurst collaborated with Economist Impact to explore a wide range of ongoing developments across technology, geopolitics, macroeconomics, international trade, population demographics and environmental science. This analysis identified six megatrends - powerful forces believed to have the potential to change the global economy, business and society in the next decade.
Six Megatrends
Key findings
- Enthusiasm abounds about opportunities in creating resilient cities, with 43% of respondents excited about opportunities amid the need to modernise the built environment and civil infrastructure.
- Sustainability is simultaneously a huge opportunity and the toughest challenge of all for business, with enormous regulatory implications and burdens. Respondents deem financial climate disclosure, supply chain transparency and other ESG rules as more likely than any other regulatory developments to impact their business over the next decade.
- Skills for the future, digitalisation and the net zero transition are interlinked and key to addressing all six megatrends.
- Adapting to demographic change is a major challenge, cutting across changing customer needs, increased bargaining power of labour and meeting the needs of the inhabitants of densely populated and dynamic cities.
- Businesses have huge capability gaps, with 8/9 out of 10 executives surveyed seeing current business resilience, innovation, tech and management vision as insufficient.
Download our report [PDF 12 MB]to read more.
Changing Global Dynamics:
To remain resilient in an era of geopolitical volatility, businesses need to factor in governance and risk management along with, regulatory requirements, business continuity planning, crisis response and recovery, supply chain resilience, and technology and cybersecurity.
Nisha Sanghani
Partner and Head of Ashurst Risk Advisory, Middle East
Net Zero Transition:
34% of respondents say they will use their net zero efforts as a stimulus to develop more energy efficient ways of working:
Digitalisation:
Top 3 technology likely to have the biggest positive impact on business in the next decade:
1. Automation and IoT
2. Metaverse
3. Cybersecurity and AI
Demographic Change:
The old adage "people are our greatest asset", will be sorely tested as companies realise a 'one size fits all approach' to human resources policy won't work – what might suit one group of employees, won't necessarily suit another, and older workers will have as many expectations and demands as younger generations.
Stephen Woodbury
Partner
Skills for the future:
42% of Executives from the Banking & Private Capital industry cite securing and developing the skills for the future to be among the toughest challenges for their business over the next decade:
Resilient Cities:
In 4 out of 5 industries,
over 40% of executives
say resilient cities offer some of the
most attractive opportunities
their businesses expect to see in the
next 10 years
Data highlights
Download our infographic [PDF 339 KB] to understand the key data points that are highlighted in the report
Industry perspectives
Explore sector articles about the impact of the megatrends on key industries
How we can help
Our core legal team also works seamlessly with our Ashurst Risk Advisory team to provide practical and commercial approaches to managing risk, driving change and operational performance. We also draw on our technology team to provide advanced electronic collaboration, automation and production tools to provide faster, more consistent and cost-effective legal services.
The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to.
Readers should take legal advice before applying it to specific issues or transactions.