Updates in the International Business World

By Annette Woo

So far there have been many opportunities and challenges that have arisen in the global market landscape. It is important for businesses to understand their fellow competitors and especially understand the impact of new policies and implementations. Here are some new trends.

Recently there have been many technological advancements such as Microsoft’s €4 billion investment in France to enhance its AI and cloud capabilities reflects the growing importance of these technologies. Additionally, in Paris a consulting service, TCS,  has established a Global AI Centre of Excellence underscoring the strategic focus on AI innovation. 

In Europe, the EU is struggling to find ways to correctively regulate cryptocurrencies. This situation highlights the difficulties of overseeing rapidly evolving financial technologies while ensuring market stability​. Because of this we can expect the EU to have an increase in rigorous standards for cryptocurrencies and therefore a more stable and secure market environment, encouraging broader adoption of digital assets. Also this can allow for a clearer path for legitimate businesses to grow and innovate, fostering a healthier ecosystem for digital finance.

Across  North America, Europe, China, Japan, and Korea recently there has been an implementation of Open Automated Demand Response (OpenADR). OpenADR enables utilities and grid operators to manage the load on the electrical grid more effectively, affecting many EV vehicles and their regulations. With these new standards they hope to achieve energy efficiency as it allows for better utilization of existing grid infrastructure and minimizes the need for additional power plants.

Overall, there have been many advancements in the international business world. The advancements made in technology and the evolving regulatory landscape for cryptocurrencies are pivotal trends in shaping the global market in 2024. Businesses that leverage AI and digital solutions effectively while navigating the complexities of regulatory compliance will be better off in the future and may potentially have an advantage in the business world. In the end there are still an endless number of possibilities for businesses to advance their new innovations and inventions.