WASHINGTON, Dec. 3, 2019 /PRNewswire/ -- The generational wars that came to the fore this year will heat up in 2020, A.T. Kearney's Global Business Policy Council finds in its Year-Ahead Predictions 2020 report. The emergence of Greta Thunberg and the recent mass protests from Lebanon to Chile highlight the growing intensity of the tension as older generations continue to hold positions of authority, while younger generations become more vocal about economic inequality, climate change, and other social issues.
Responses to climate change will also inspire new business models, technology innovations, and urban policies in 2020. Paul A. Laudicina, founder and chairman of the Global Business Policy Council, notes, "As global climate changes continue to challenge more and more communities across the world, companies and governments will find innovative new ways to address water crises and provide aid to victims of natural disasters. Cities will also continue to lead the way in addressing climate change, including through reducing carbon emissions and building more resilient infrastructure."
There will be more competition in the technology space, however. Governments will impose new regulations on technology companies as "techlash" translates into higher levels of digital nationalism. The report's co-author and managing director of the Global Business Policy Council Erik Peterson argues that data privacy regulations will proliferate in 2020. "The EU, whose General Data Protection Regulation is becoming the worldwide norm, has emerged as the global leader in data privacy regulation. And more broadly, we see that data localization continues to be on the rise."
At the same time, the national competition to roll out 5G wireless networks will escalate. The United States will fall behind in the race to 5G in 2020, according to the report. But US companies will be among the leaders in an increasingly crowded outer space.
The authors also point to several shifting political and economic fault lines that will be active in 2020. US dollar appreciation will affect international economic flows and fuel geopolitical tension, while Northeast Asia will become an even more profound geopolitical hotspot.
The full list of predictions included in Year-Ahead Predictions 2020 is:
- Generational wars will heat up as battle lines are drawn.
- A wave of water crises will spur innovation.
- The evolution of cities will accelerate to meet infrastructure and climate challenges.
- A new disaster economy will emerge as catastrophes become more frequent and severe.
- The halal consumer market will exceed $2.5 trillion globally.
- The United States will encounter challenges in the race to 5G.
- Data privacy rules will proliferate as EU regulations set the global standard.
- Northeast Asia will become an even more profound geopolitical hotspot.
- US dollar appreciation will continue.
- Commercial and national interests will collide in a more crowded outer space.
Read the full report here.
About A.T. Kearney
A.T. Kearney is a leading global management consulting firm with offices in more than 40 countries. Since 1926, we have been trusted advisors to the world's foremost organizations. A.T. Kearney is a partner-owned firm, committed to helping clients achieve immediate impact and growing advantage on their most mission-critical issues.
To learn more about A.T. Kearney, please visit www.atkearney.com.
About the Global Business Policy Council
The Global Business Policy Council is a specialized foresight and strategic analysis unit within A.T. Kearney. Since its first CEO Retreat in 1992, the Council has been a strategic service for the world's top executives, government officials, and business-minded thought leaders. Through exclusive global forums, public-facing thought leadership, and advisory services, the Council helps decipher sweeping geopolitical, economic, social, and technological changes and their effects on the global business environment. The Council consistently ranks near the top of the University of Pennsylvania's list of best private-sector think tanks and currently holds the 4th spot globally.
To learn more about the Global Business Policy Council, visit our homepage.
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