globalEDGE Blog - Page 20

In 2022, electric vehicles will become mainstream - we will see more on the roads daily. 2023 may see a significant increase in the production of these cars, even though 2022 did present lower sales. We saw high-interest rates and market instability in the past year, which impacted electric vehicle sales. The rising cost of batteries and shortages of critical materials also drove electric vehicle sales down.

2022 was a year of major milestones and innovations in the cryptocurrency industry, including the meteoric rise of Web3 and the metaverse, the continued development of decentralized finance, and the introduction of non-fungible tokens. The upward trend seemed like it would continue, with the global crypto community aligning to support Ukraine amid its tensions and ultimate conflict with Russia. Thousands of people and leading brands joined hands to donate crypto funds to Ukraine, which will go down in history as one of the most prominent mass-market uses of blockchain technology to date. But this social unity has not helped hide the dramatic downward shift many crypto coins and exchanges are currently taking.

 The world's population continues to grow at an alarming rate, and many countries are facing declining birth rates. This has far-reaching consequences for economies as the aging population shrinks the workforce, leading to a shortage of low-wage labor. Additionally, the demographic pyramid is becoming inverted as the elderly population grows relative to the working-age population, creating sustainability issues for social contracts that rely on the young to support the elderly. These challenges are particularly pronounced in developed countries, while developing countries face the opposite problem of a growing youth population with insufficient job opportunities. With the future of the global population at stake, it's crucial to address these issues and find sustainable solutions that benefit all.

Since being introduced to the public on November 30th of 2022, ChatGPT has taken over the world by storm. It is an AI chatbot designed and created by OpenAI, an AI research and deployment company. ChatGPT is a natural language processing tool driven by AI technology that allows for users to have human-like conversations, conduct research, answer questions, and assist with tasks. But, the question being asked is what are the applications of the newfound AI technology?

The debate over raising the minimum wage is a contentious one, with proponents arguing that it will lift workers out of poverty and stimulate economic growth, while opponents argue that it will lead to job loss and higher prices for goods and services. As we look ahead to 2023, it is worth considering how an increase in the minimum wage might affect the labor market.

Imagine knowing the outcome of potential situations before committing to a decision. Now imagine having this test scenario in the business world. Digital twin technology can solve precisely that. Companies worldwide are already developing and utilizing this technology to enhance processes, supply chains, facility management, and other areas.

With the releases of movies and television shows such as “Return to Seoul,” “RRR,” “All Quiet on the Western Front,” and “Alice in Borderland,” 2022 has been an explosive year for the international film industry. In fact, foreign entertainment content has experienced significant growth as streaming service-giants like Netflix, Disney+, and Amazon Prime continue to expand their audiences and markets.

The Music Tourism Market, which took a big hit due to the Covid-19 pandemic, is now rising rapidly. Music tourism refers to traveling to a destination with the specific intent of going to a concert or music festival. Hosting an event related to music is very beneficial and lucrative for the host cities as many people will support their local economy by going out to eat and sightseeing while there for the event they’re attending. Along with this, the allure of traveling to a new place commonly motivates people to attend concerts and music festivals abroad. In 2022 the Music Tourism Market was valued at 5.5 Billion USD, and the market only continues to grow; FMI predicts it will reach 11.3 Billion USD by 2032.

ChatGPT: Have you heard of it? If not, you may be in the minority of readers, as this new technology is sweeping headlines and business meetings. And now, it may have disrupted the tech industry entirely, with some companies feeling a little more nervous than others.

With more than 1 billion users across the globe, TikTok has taken the social media world by storm. Users of all ages across the world spend time on the app daily, engrossed in the latest trends, dances, products, and more, making the app the second-most popular web domain worldwide. While the platform may have experienced exponential growth over the last few years, this trend might start to reverse, thanks to new bands countries are placing on the app.