The work-from-home and hybrid setup for businesses and organizations became the standard following the global pandemic. For the past couple of years, video calls replaced board meetings, the background featuring the workspace kitchen or room. Bringing in-person events to a halt forced organizers to consider digital solutions to navigate the new normal.
A study commissioned by the Events Industry Council quantified the industry in 2017. In this research, Oxford Economics revealed that the global events industry spent a whopping $1.03 trillion (USD). This amount shows how indispensable meetings and events are in keeping the world going. These days, the future of meetings relies heavily on technology. This article explores the vast possibilities that technological advancements grant for the events industry.
By the numbers
The COVID-19 pandemic had a huge impact on business-as-usual models and events planning. According to Rockbridge Associate’s US National Technology Readiness Survey or NTRS (2021), consumers increasingly used digital tools for meetings. Among the top apps include Zoom,Microsoft Teams, and Google Meet.
The survey found that younger workers aged 18-24 are more accepting of these platforms and will likely continue using them. Virtual meetings are now essential to any industry, allowing team members to work collaboratively despite the loss of in-person interaction. In another study, the US Census Bureau published that roughly 27.6 million people adopted a work-from-home setup in 2021. This number is triple that of 2019, with only 9 million WFH workers. Leveraging technology was not only an option but a necessity at that point. Today, it’s safe to say that the future of meetings will give rise to more sophisticated technology. Immersive, state-of-the-art experiences, top-notch interactive methods, and augmented or virtual reality offer exciting changes to the events industry.
Challenges to the new normal
These days, hybrid meetings are more the standard as border restrictions slowly ease up all over the world. This type of set-up involves a mesh of in-person hosting, physical attendance, and virtual audiences. It’s the way forward, with technology at the forefront of its success.With virtual meetings, attendees don’t have to travel from far to make it on schedule. Organizers only need to plan the date, time, and a video conference room or live stream to hold the event. In this light, meeting technology can only provide better possibilities, especially in designing hybrid events that cater to every kind of audience. However, building the experience does not happen instantly. A lot of factors come into play, including location, budget, and event management software, among others. There is also the challenge of keeping attendees engaged. Therefore, it is crucial for organizers to urge the audience to remain attentive for the whole duration of the meeting. Another great possibility that needs careful consideration is the inclusion of Artificial Intelligence (AI) and Machine Learning (ML) in meetings. Chatbots and AI-enabled virtual assistants are the answer to the time-sensitive concerns of participants. Leveraging these solutions can provide quick access to vital information, especially for large, multinational organizations or companies. There is plenty to look forward to with the technology-powered future of events. What these changes require is a competent events expert that specializes in virtual and hybrid meetings. Conferences and Events LLC is geared for this future, with leading digital solutions for every possible challenge along the way.
