It may sound cliche, but we’re officially in the digital economy.

“If you’re feeling whiplash, it might be the ten years forward we just jumped in 90 days’ time.” This is how the final McKinsey & Companies quarterly briefing of 2020 began, which was fittingly dubbed “The Quickening” — a stunning glimpse into the meteoric rise of all things digital. 

Their research found that eCommerce penetration in the United States had experienced ten years of growth in the first quarter of 2020 alone. 

That number is only increasing. If you’re a business owner or an aspiring entrepreneur, you must have a digital-first strategy if you want to succeed.

Entrepreneurs have learned that you must pay attention to emerging trends and consumer behavior.

You need every advantage you can get in changing economies and market downturns. It means taking advantage of opportunities, trends, and technologies to which your competitors are not yet paying attention.
Here are three emerging mega-trends you need to understand.

The No-Code Revolution. Building software has traditionally required technical expertise or significant investment in a development team.

According to PayScale, the average annual salary for a single React engineer (a popular front-end development framework) is $92,020. These hurdles meant that lots of budding entrepreneurs with great ideas were stuck dead in their tracks in the past.

Enter the “no-code” revolution.

Tools like Bubble.is, Airtable and Glide help level the playing field by allowing anyone regardless of programming knowledge to build a fully-fledged web or mobile application with drag-and-drop components and visual interfaces.

Using these tools, business owners or team members can unlock innovation and improve efficiency in even the smallest of companies – without using any code.

The Rise Of The Bots. According to Juniper Research, retail sales resulting from interactions with chatbots are forecast to nearly double every year – reaching $112 billion by 2023.

Juniper anticipates that retailers who don’t take note and implement bots in their business will face substantial challenges from more technologically inclined disruptors.

While somewhat in their infancy in the west, globally, bots are big business. 

In China, a significant portion of commerce happens through bots via the WeChat app. According to Tencent’s Q4 2019 financials, the number of commercial transactions happening on their app reached 1 billion per day.

Bots are growing rapidly here in the western world, too, with venture capital firms pouring huge amounts of money into bot-driven companies like Drift and Intercom.

Bots can be used to drive sales, collect leads, help solve customer problems without human interaction (increasingly important as more and more consumers shop online), or can even be used as fun engagement tools – think text-based adventure games – to keep an audience sticking around.

Voice Apps Are Radio 2.0. Podcasts are booming. In 2020, Spotify sent earthquakes through the tech world when they announced they would be signing leading podcaster Joe Rogan to an exclusive deal worth $100 million.

Online listening has doubled over the last ten years, reaching 70% of the United States, while the 2020 Infinite Dial study recorded an incredible 100 million monthly podcast listeners.

But it’s not just podcasts. Looking ahead, there’s a new wave of voice apps on the horizon.

The first to make a big splash has been the audio-only Clubhouse, which Vogue called “the new FOMO-inducing social app to know”. 

You can think of Clubhouse as a real-time version of a podcast. Nothing is recorded, and there’s nothing you can do in the app other than listening to or joining in with the conversation.
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The no-code revolution, automated bots, and the rise of audio are three things that any business can take advantage of to increase efficiency, drive innovation, and build lasting relationships with end customers, clients, and consumers.

Amazon, Google's parent Alphabet, and UPS all hope to one day deliver large amounts of goods by drone. New US government rules have cleared some hurdles to make that dream a reality.

The Federal Aviation Administration finalized new rules for small, unmanned drones that could pave the way for expanded commercial uses of the vehicles, including delivery services.

For the first time, the FAA will allow small commercial drones to fly short distances over people and at night without a waiver. Small drones will also be permitted to fly over moving vehicles under limited conditions.

In a change from a previously proposed draft of the rules, drone operators must also have their remote pilot certificates on their persons and ready to be displayed if challenged by the authorities.

The rules apply to drone operators who use their unmanned aircraft for work or business under the FAA's Part 107 regulations. As many as 1.7 million drones have been registered with the FAA, as well as more than 203,000 drone pilots, the agency said. 

"The new rules make way for the further integration of drones into our airspace by addressing safety and security concerns," said FAA Administrator Steve Dickson. "They get us closer to the day when we will more routinely see drone operations such as the delivery of packages."

The agency said it submitted the rule changes to the Federal Register and expects them to be published in January. The new regulations will take effect 60 days after publication.

The new rules mark a significant step forward by the US government toward a future of commercial drone deliveries, a vision outlined by Amazon as far back as 2013. Since then, the FAA's development of drone regulations has progressed in fits and starts, prompting critics to worry that other countries could pull ahead and gain a critical first-mover advantage in drone-based commerce. 

Industry advocates said there are still many steps ahead before that drone delivery can go mainstream in the US – such as opening up the rules to allow routine drone flights beyond an operator's visual line of sight. 
Those types of expanded operations "are critical to fully realizing the promise of [drone] technology to deliver innumerable economic and societal benefits," said the Small UAV Coalition, an industry advocacy group.
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Last year, UPS and Wing — a sister company to Google — became the first companies to gain FAA approval to operate a drone airline. In August, Amazon received the same approval certificate. Amazon has set a goal of completing drone deliveries within 30 minutes or less of an order being placed. 

The COVID-19 pandemic accelerated a trend that was already well underway: employers letting their workers perform their jobs remotely, from home, most or all of the time. But even if you and your employer both know exactly where you live and work, you may be surprised to learn that state departments of taxation can have some very different ideas about where "here" is. As a result, Texans, Utahns, and Arkansawyers who work for New York- or Massachusetts-based companies will have income taxes withheld from their paychecks, even if they've never set foot in the home office.

In the wake of the pandemic, dozens of major companies are embracing employees' desire to stay remote, increasing their support for working from home permanently. Some businesses have even closed offices or let leases lapse, counting on a physically distant, flexible workforce to reduce their real estate needs.

In many ways, this can be a win/win: employers can save overhead costs on expensive square footage in high-demand cities, and employees can save time and money by skipping the commute and dialing in from, basically, anywhere they want. New York, San Francisco, and Los Angeles are expensive; maybe you want to move to Montana and dial in from the woods or get a nice little ocean-view place in Florida. Unfortunately, as far as the state is concerned, your beachside cabana may as well be squarely in the middle of Manhattan, and you will be taxed as such.

Even before COVID, living in one state but working in another was common in many of the biggest US metropolitan areas. Many commuters into New York live in New Jersey or Connecticut, for example, and vast numbers of workers in Washington, DC live in Maryland, Virginia, or sometimes even farther out in Pennsylvania, West Virginia, or Delaware. Kansas City sprawls into both Kansas and Missouri, so traveling across city limits can mean crossing state lines. Any major city near a border likely has loads of workers that saunter over that line every day.

From a tax perspective, that's tricky because both the state where you perform a job and the state where you actually live are going to want to try to tax your income. Still, only one state at a time can, and most jurisdictions with a lot of overlap have agreements worked out with their neighboring states that make it easy for workers to take state withholdings and pay state tax where they live. (I, for example, only had to fill out one short form when I worked in downtown Washington, DC to make sure my taxes were properly withheld across the river in Virginia.) 

However, the increase in remote work means as offices downsize, some employees are now migrating to areas of the country where there are not tax agreements in place, leaving individuals to try to muddle through multiple states' tax codes on their own. Even more challenging: states are losing money hand-over-fist due to the pandemic and are likely to be more aggressive about chasing down every dollar they can claim.

Seven states – Arkansas, Connecticut, Delaware, Massachusetts, Nebraska, New York, and Pennsylvania – have so-called "convenience" rules on the books that require any work performed for an employer based in their state to be taxed as if the worker performing the job is in their state, no matter where the employee is located. Those states are still attempting to collect tax from telecommuting workers, and other states are fighting back.
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New Hampshire,  one of nine states that do not have an income tax, is suing neighboring Massachusetts over its convenience rule. Four other states – New Jersey, Connecticut, Hawaii, and Iowa – are supporting the suit.

At least 80% of cybersecurity failures involve direct attacks on users' passwords, the World Economic Forum warns. This is a problem that's not going away any time soon. For Microsoft, as it explains in an official blog post, the solution may lie in a passwordless future, and it's hoping to ramp it up next year.

Whether it's storing personal information about addresses, finances, and highly private records, or running companies entirely virtually, the internet is where people live a good deal of their lives. And these people rely on passwords to guard their data and information against malicious actors. In response to hackers, some experts encourage the use of two-factor authentication, but that still isn't airtight.

"Passwords are a hassle to use," it notes, "and they present security risks for users and organizations of all sizes, with an average of one in every 250 corporate accounts compromised each month."

Security keys. For years now, Microsoft has been nudging people to adapt to a passwordless virtual landscape. To dispense with passwords without compromising security, the company offers physical encryption devices like the FIDO2 security key to open Hybrid Azure Active Directory Windows 10 devices.

Biometrics. Apart from security keys, Microsoft also emphasizes the need to try other techniques, like using biometric data to open devices as they do with mobile phones: fingerprints, iris scans, or Apple-style Face ID systems.

Biometric security measures come with their share of privacy concerns, though. But Microsoft is nonetheless eager to encourage a transition to biometrics and FIDO2 security keys. Because those are still more difficult to manipulate and compromise and less susceptible to the social engineering that so often sees passwords come undone.

The company wants this passwordless paradigm to be able to transcend different environments. Users should be able to, for instance, gain access to laptops and cloud-based apps with the same information that would let them access company buildings. Of course, this sort of cross-device and environment security makes ensuring it can't be compromised all the more critical.

Microsoft says its research has found that people are very open to the idea of ditching passwords for good. "Passwordless usage in Azure Active Directory is up by more than 50% for Windows Hello for Business, passwordless phone sign-in with Microsoft Authenticator, and FIDO2 security keys," according to the blog post.
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But if this passwordless strategy is to become common and reliable in everyday use, Microsoft will have to go beyond its own users and bring rivals like Google and Apple on board, too. That could still take a little convincing.

Many Americans are very frustrated that they have to pay a mandatory router rental charge every month as part of their ISP bill. It gets added even if you purchase and use your own router in many cases. But as of Dec. 20, the practice is now illegal, and you can demand your ISP stop the charge.

As The Verge reports, your ISP can still charge for a router sent to a customer, but that customer should be able to return the router, have the fee canceled, and supply their own router instead. The charge is typically $10 a month, so the cost of buying a router is soon recouped. A good budget router can cost less than $50, meaning you'll start seeing the benefit of money saved in less than six months.
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Don't expect ISPs to take the initiative here and cancel the fee automatically. If you are already using your own equipment, contact your ISP and demand that the fee is stopped. Send them a link to the bill if they protest. Alternatively, if you are using the equipment supplied by your ISP, do some research, see if there's a good alternative available and check the process for returning the ISP-provided equipment before attempting to cancel the fee. You want to avoid any internet downtime, especially as we are all so reliant on the internet for communication right now.