EPAM Continuum's Annual 2021 NXT Trends Report Identifies Six Major Currents of Change and the Challenges Facing Businesses in the Coming Year
EPAM Continuum, the consulting practice of EPAM Systems (NYSE: EPAM), has released its 2021 NXT Trends report, identifying six significant global trends influencing businesses. These trends include the evolution of digital communities, the importance of interoperability, and the challenges of loneliness in public health. The report emphasizes the interconnectedness of modern challenges and their implications for strategic leadership in 2021, urging organizations to adapt amidst ongoing market disruptions. For further insights, access the full report on EPAM's website.
- Identifies six major global trends that could guide strategic business decisions.
- The report provides a comprehensive analysis backed by data and expert insights.
- The emphasis on challenges such as loneliness and migration may indicate shifting consumer behaviors that could disrupt traditional business models.
NEWTOWN, Pa., Nov. 30, 2020 /PRNewswire/ -- EPAM Continuum, the integrated business, experience, technology and data consulting practice of EPAM Systems, Inc. (NYSE: EPAM), today announced the release of the 2021 NXT Trends report. Compiled by EPAM Continuum's trends research group NXT, this year's report identifies six big global currents of change and connects them to the on-the-ground choices facing businesses in the coming year—a powerful tool for strategic leadership and long-term thinking.
"At their most powerful, trends help us understand the broad context behind the pressing problems challenging markets and industries today," says Chris Michaud, VP and Head of Innovation & Design Consulting at EPAM Continuum. "To unearth those that are most relevant, we brought together our experts across industry verticals and our offices around the world—from Shanghai to St. Petersburg to Boston. Diving deep into the data and analyzing the conversations and attitudes, we surfaced the ones that have the momentum to shape the market in 2021. These trends we focused on aren't just new and interesting. They are the ones that are challenging and disrupting markets. The ones important to organizations either seeking, or already embarking upon, a transformation effort. A path forward."
One of the defining themes of the current era is the way its major forces—like mobile technology, globalization, or secularization—connect people more widely than ever before but at the same time drive them apart. With that said, the six major trends and 13 strategic viewpoints presented in the 2021 NXT Trends report are all about connection in its many forms—through community, between technologies, to home—and also about the impacts of loneliness, migration, and inequity.
- Digital Communities and the Future of the Internet - The changing dynamics of digital communities reminds us the internet is still young.
- Interoperability and the Future of Disruption - Technology can't solve the world's problems by going around them.
- Work and the Future of Life, Business, and Everything - The pandemic added fuel to a growing labor movement, with no easy answers for businesses.
- Loneliness and the Future of Public Health - Psychologists say we'll forget the pandemic when it's over, but in the meantime, everyone is stressed.
- Localization and the Future of the Global Economy - Globalization is looking less and less like a free and open market.
- Migration and the Future of Cities - The pandemic and climate change are shifting demographics and forcing cities to choose between rebuilding and evolving.
"The tension between interconnection and division is inarguably a characteristic of the pandemic," adds Chris. "But it is important to remember we have been here before. Over the centuries, illnesses and pandemics, as well as natural disasters and wars, have forced societies to move forward in unforeseen ways. Today, we are far more empowered with more data and insight to not only make better decisions but also innovate for the greater good."
Read the 2021 NXT Trends Report. To learn more about EPAM Continuum's integrated business, experience, technology and data consulting practice, visit www.epam.com/epam-continuum.
To learn more about EPAM, visit www.epam.com.
About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its software engineering expertise to become a leading global product development, digital platform engineering, and top digital and product design agency. Through its 'Engineering DNA' and innovative strategy, consulting, and design capabilities, EPAM works in collaboration with its customers to deliver next-gen solutions that turn complex business challenges into real business outcomes. EPAM's global teams serve customers in more than 35 countries across North America, Europe, Asia and Australia. As a recognized market leader in multiple categories among top global independent research agencies, EPAM was one of only four technology companies to appear on Forbes 25 Fastest Growing Public Tech Companies list every year of publication since 2013 and ranked as the top IT services company on Fortune's 100 Fastest-Growing Companies list in 2019 and 2020. Learn more at www.epam.com and follow us on Twitter @EPAMSYSTEMS and LinkedIn.
About EPAM Continuum
EPAM Continuum's diverse, integrated consulting teams apply a Systems Thinking mindset to get to the heart of our clients' increasingly complex business challenges. Our business, experience, technology and data consultants work together to create holistic solutions that achieve meaningful, sustained impact for businesses, their employees and customers. Learn more at www.epam.com/epam-continuum and follow us on LinkedIn.
Forward-Looking Statements
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
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SOURCE EPAM Systems, Inc.
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