GET ATTRACTIONS MANAGEMENT
magazine
Yes! Send me the FREE digital edition of Attractions Management and the FREE weekly Attractions Management ezines and breaking news alerts!
Not right now, thanksclose this window
Get Attractions Management digital magazine FREE
Sign up here ▸
Jobs   News   Features   Products   Company profilesProfiles   Magazine   Handbook   Advertise    Subscribe  
NEWS
Accenture says AI is bringing on a decade of deconstruction
POSTED 05 Nov 2023 . BY Tom Walker
People are reassessing their life choices Credit: Shutterstock/Alena Ivochkina
The rapid advance of technology in all areas of life is putting society in flux
Accenture’s Annual Life Trends report shows half of people globally are significantly altering their life goals
According to the report, this shift in mindset is creating challenges and fragility for businesses
For the report, Accenture surveyed 15,227 respondents across 21 countries
The rapid advance of technology in all areas of life is putting societies in flux, creating uncertainty and forcing people to reassess their plans for the future, according to a new report from consulting firm Accenture.

The Annual Life Trends report shows that half of people globally are significantly altering their life goals, prioritising job stability and retirement over marriage or getting a college degree.

Another 48 per cent now only plan 12 months ahead (or less) – with some not making any plans at all.

Mark Curtis, global sustainability lead for Accenture Song, said: “We’re entering a decade of deconstruction spurred on by changing consumer values, AI’s explosive growth and the relentless speed of change."

According to the report this shift in mindset – brought on in part by the increasing intrusion of technology into people's lives – is creating challenges and some degree of fragility for businesses, as people are deconstructing everything in their lives and trying to assess their place in the world.

As an example of the way the relationship between consumers and businesses is changing, the report charts how, for years, the correlation between customer experience and revenue growth has inspired organisations to hold the customer at the centre of every decision.

Now, economic considerations are forcing cuts, creating friction between customers and brands in the form of price increases, reduced quality, value engineering, increased and aggressive subscription-only models – which is forcing some governments to legislate to protect consumers – and poor customer service.

The reductions in quality or size (‘shrinkflation’), declines in service (‘skimpflation’), customer service shortcomings and unwelcome subscriptions are adding up to a sense that brands are quietly reversing on their promises.

At the center of this trend, the report states, is a critical perception problem – where companies see actions for survival, some customers see greed.

Liz Terry, editorial director at Leisure Media, said: "In the face of so much change and the redrawing of expectations, there are important opportunities for all leisure businesses, given how fundamental they are to people's lives, how nimble and responsive leisure is as a sector – from spa and wellness to health and fitness, hospitality and visitor attractions – and how customer-focused we can be when the customer is made a priority.

"Operators in all parts of the sector can commit to being a grounding influence in a time of huge upheaval for so many people and to reprioritising customer care and customer love, so we continue to deliver the experiences so many people are yearning for and value.

"Given businesses in so many parts of life are failing to deliver, this is our chance to really stand out."

The changing relationship between consumer and business is one of five global macro-cultural trends which Accenture predicts will revolutionise how business leaders approach customers when working to accelerate growth.

For the report, Accenture surveyed 15,227 respondents across 21 countries in August 2023 to validate the trends.

The five trends in summary are:

01 Where's the love?
Necessary cuts across enterprises have shunted customer obsession down the priority list – and customers are noticing.

02 The great interface shift

Generative AI is upgrading people’s experience of the internet from transactional to personal, enabling them to feel more digitally understood and relevant than ever.

03 Meh-diocrity

Creativity was once about the audience, but has become dependent on playing the tech system. Is this what creative stagnation feels like?

04 Error 429: Human request limit reached

Technology feels like it’s happening to people rather than for them. Is a shift beginning, where they regain agency over its influence on daily life?

05 Decade of deconstruction

Traditional life paths are being rerouted by new limitations, necessities and opportunities, significantly shifting demographics.

To read the full report, click here.
MORE NEWS
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
Museum director apologises after comparing the city of Florence to a sex worker
Museum director Cecilie Hollberg has come under fire for comparing the city to a sex worker due to uncontrolled mass tourism.
+ More news   
LATEST JOBS
Chief Executive Officer, Mount Batten Centre
Mount Batten Group
Salary: c£65,000pa + pension + benefits
Job location: mount batten centre, plymouth , United Kingdom
+ More jobs  

COMPANY PROFILES
Alterface

Alterface’s Creative Division team is seasoned in concept and ride development, as well as storyte [more...]
instantprint

We’re a Yorkshire-based online printer, founded in 2009 by Adam Carnell and James Kinsella. [more...]
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
Sally Corporation

Our services include: Dark ride design & build; Redevelopment of existing attractions; High-quality [more...]
+ More profiles  
CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

08-08 May 2024

Hospitality Design Conference

Hotel Melià , Milano , Italy
10-12 May 2024

Asia Pool & Spa Expo

China Import & Export Fair Complex, Guangzhou, China
+ More diary  
LATEST ISSUES
+ View Magazine Archive

Attractions Management

2024 issue 1


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2023 issue 4


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2023 issue 3


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2023 issue 2


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management News

06 Apr 2020 issue 153


View on turning pages
Download PDF
View archive
FREE digital subscription
Print subscription

Attractions Handbook

2019


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024
Get Attractions Management digital magazine FREE
Sign up here ▸
Jobs    News   Products   Magazine   Subscribe
NEWS
Accenture says AI is bringing on a decade of deconstruction
POSTED 05 Nov 2023 . BY Tom Walker
People are reassessing their life choices Credit: Shutterstock/Alena Ivochkina
The rapid advance of technology in all areas of life is putting society in flux
Accenture’s Annual Life Trends report shows half of people globally are significantly altering their life goals
According to the report, this shift in mindset is creating challenges and fragility for businesses
For the report, Accenture surveyed 15,227 respondents across 21 countries
The rapid advance of technology in all areas of life is putting societies in flux, creating uncertainty and forcing people to reassess their plans for the future, according to a new report from consulting firm Accenture.

The Annual Life Trends report shows that half of people globally are significantly altering their life goals, prioritising job stability and retirement over marriage or getting a college degree.

Another 48 per cent now only plan 12 months ahead (or less) – with some not making any plans at all.

Mark Curtis, global sustainability lead for Accenture Song, said: “We’re entering a decade of deconstruction spurred on by changing consumer values, AI’s explosive growth and the relentless speed of change."

According to the report this shift in mindset – brought on in part by the increasing intrusion of technology into people's lives – is creating challenges and some degree of fragility for businesses, as people are deconstructing everything in their lives and trying to assess their place in the world.

As an example of the way the relationship between consumers and businesses is changing, the report charts how, for years, the correlation between customer experience and revenue growth has inspired organisations to hold the customer at the centre of every decision.

Now, economic considerations are forcing cuts, creating friction between customers and brands in the form of price increases, reduced quality, value engineering, increased and aggressive subscription-only models – which is forcing some governments to legislate to protect consumers – and poor customer service.

The reductions in quality or size (‘shrinkflation’), declines in service (‘skimpflation’), customer service shortcomings and unwelcome subscriptions are adding up to a sense that brands are quietly reversing on their promises.

At the center of this trend, the report states, is a critical perception problem – where companies see actions for survival, some customers see greed.

Liz Terry, editorial director at Leisure Media, said: "In the face of so much change and the redrawing of expectations, there are important opportunities for all leisure businesses, given how fundamental they are to people's lives, how nimble and responsive leisure is as a sector – from spa and wellness to health and fitness, hospitality and visitor attractions – and how customer-focused we can be when the customer is made a priority.

"Operators in all parts of the sector can commit to being a grounding influence in a time of huge upheaval for so many people and to reprioritising customer care and customer love, so we continue to deliver the experiences so many people are yearning for and value.

"Given businesses in so many parts of life are failing to deliver, this is our chance to really stand out."

The changing relationship between consumer and business is one of five global macro-cultural trends which Accenture predicts will revolutionise how business leaders approach customers when working to accelerate growth.

For the report, Accenture surveyed 15,227 respondents across 21 countries in August 2023 to validate the trends.

The five trends in summary are:

01 Where's the love?
Necessary cuts across enterprises have shunted customer obsession down the priority list – and customers are noticing.

02 The great interface shift

Generative AI is upgrading people’s experience of the internet from transactional to personal, enabling them to feel more digitally understood and relevant than ever.

03 Meh-diocrity

Creativity was once about the audience, but has become dependent on playing the tech system. Is this what creative stagnation feels like?

04 Error 429: Human request limit reached

Technology feels like it’s happening to people rather than for them. Is a shift beginning, where they regain agency over its influence on daily life?

05 Decade of deconstruction

Traditional life paths are being rerouted by new limitations, necessities and opportunities, significantly shifting demographics.

To read the full report, click here.
RELATED STORIES
Wellness a top priority for consumers globally, according to Mindbody and Classpass 2024 Predictions Report


Consumers now consider health and fitness to be an “essential” area for spending and, despite the global squeeze on disposable incomes, will continue to increase their investment in wellness.
How can the wellness industry attract Gen Z consumers?


Generation Z (Gen Z) has been cited as the next big generation of consumers that the wellness industry needs to target, but how should spas appeal to their new lifestyle which is more ‘switched on’ and ‘fast-paced’ than previous generations?
MORE NEWS
The Everyday Heritage initiative celebrates and preserves working class histories
Off the back of the success of the first round of Everyday Heritage Grants in 2022, Historic England is funding 56 creative projects that honour the heritage of working-class England.
Universal announces long-awaited details of its Epic Universe, set to open in 2025
Universal has revealed it will be adding new Harry Potter attractions, alongside Super Nintendo and How to Train Your Dragon worlds to its Florida resort.
Heartbreak for Swedish theme park, Liseberg, as fire breaks out
A fire has destroyed part of the new water world, Oceana, at Liseberg in Sweden, and a construction worker has been reported missing.
Museum director apologises after comparing the city of Florence to a sex worker
Museum director Cecilie Hollberg has come under fire for comparing the city to a sex worker due to uncontrolled mass tourism.
Populous reveals plans for major e-sports arena in Saudi Arabia
Populous have unveiled their plans for a state-of-the-art e-sports arena, designed to stand as a central landmark in Qiddaya City’s gaming and e-sports district, Saudi Arabia.
Raby Castle reveals ambitious plans to become a major visitor destination
Raby Castle, known as one of the finest medieval fortifications in England, is nearing the end of an ambitious two-year renovation project.
+ More news   
 
COMPANY PROFILES
Alterface

Alterface’s Creative Division team is seasoned in concept and ride development, as well as storyte [more...]
instantprint

We’re a Yorkshire-based online printer, founded in 2009 by Adam Carnell and James Kinsella. [more...]
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
Sally Corporation

Our services include: Dark ride design & build; Redevelopment of existing attractions; High-quality [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

08-08 May 2024

Hospitality Design Conference

Hotel Melià , Milano , Italy
10-12 May 2024

Asia Pool & Spa Expo

China Import & Export Fair Complex, Guangzhou, China
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS