At no time before today have actual advances in technology lined up so well with our expectations of the future. We have abandoned the whimsical “flying cars” imagery of the previous century for the Artificial Intelligence, virtual living, and ‘”connectedness” that is already unfolding around us. Business leaders who can navigate and leverage this changing landscape will be the trailblazers of enterprise in the coming decade. Know what to expect and be one of them.
AI will Change HR
The digitization of the world is often criticized for reducing physical activity but the opposite is true for the differently-abled. For them, this change balances the playing field with a greater focus on mental capabilities. Physical AI devices, as well as computer-brain interfaces, will welcome millions of individuals back into the workforce.
Personalized street ads have been depicted in films set in the future since the 1990s. Most of us have seen a rudimentary version of this at work when ads follow us across our devices. Much greater personalization and more intuitive advertising are set to change how we buy and sell to each other.
Not quite psychic, but ads are already well on the way to accurately predicting consumer behavior. Tech companies like Google and Facebook have already collected previously unimaginable volumes of data about billions of individuals. They can identify where and when along the consumer journey a person is most vulnerable to making a purchase; they sell this information to businesses.
Addiction as Opportunity
The human race is hurtling along the uncharted path of digital progress and is sometimes the worse for it. Digital addictions have been a reality for decades but are increasing in both number and severity. Within this unfortunate phenomenon lie opportunities for business – either by turning those affected into perpetual customers or by formulating a plan to battle the addiction. Both hold immense promise.
Cryptocurrency is Inevitable
Despite enormous resistance to cryptocurrencies, they have been making steady headway into our lives and are now widely accepted. The foremost fears about crypto revolve around its un-traceability, which can be exploited for money laundering and terrorism. However, just as common chat platforms like WhatsApp bypass government scrutiny by offering end-to-end encryption, crypto will become the norm, too.
We have already shown ourselves incapable of living without the convenience of digital transactions and interactions. Video surveillance is already being surpassed by digital surveillance and the latter is the inevitable future. Private businesses as well as the government will track individuals through their use of amenities, for example, gantries, public transport, payment gateways and social platforms.
Legislation like Europe’s GDPR is a pushback against the relentless digital tracking that we are subjected to by private and government bodies. It is simply one of the first steps toward reassuring the public that the powers that be do not develop omnipotent surveillance capabilities. The question of “Who watches the watchers?” remains.
Each of the seven scenarios above presents a wealth of opportunities for the enterprising individual. Perhaps the best approach would be to combine several, if not all, of them into your business model for the best odds of success. Please contact me today if you would like to discuss this topic further.