Digital Transformation is not just a change in technology but the change in the way we run our business or how we are adapting to change.
Transformation is primarily a change in mindset. We are developing tools that solve major problems for the end users. The problems could be related to our work, our society or buying behaviors. We do not build tools because it has a wow factor but it helps end users ultimately. Customer collaboration is going to be at the core, and even to release smallest of feature companies would take the feedback of customers more seriously.
The agile mindset will dominate the process how we develop a product or manage services.
The year 2018 will be no different than 2017. Instead, We are going to witness some major shakeup in the industry.
Some key segment of the industry where the technology will continue to evolve and would keep surprising us.
1) Marketing Automation
The use of online tools that automates the process of sales is going to increase. Companies are going to rely on the tools to automate things like
- searching for potential buyers,
- sending emails or sending free coupons based on the behavior of the user on an e-commerce website
- identifying potential customers using various sensors in supermarkets and displaying adverts to them on large screens.
- Use of automated lead capture will increase
- Personalized content display
2) Virtual Reality
We have already seen a significant rise in the use of VR in education, healthcare, business, construction. This trend will rise even further as a lot of companies has allocated a significant amount of marketing budget for 2018 on marketing and sales.
Analyst predicts that by the year 2020 number of VR gadgets sold will be close to 300 million.
Now that’s one bold prediction.
3) Digital Currency:
Take it or leave it. Let’s accept the technology behind the cryptocurrency has proven to be highly disruptive. Traditional financial institutions like JP Morgan, Wells Fargo, are quietly investing in their own cryptocurrency. Even though a lot of them are unheard of.
There was an estimate that at least 1000 companies are directly participating in creating their own cryptocurrency. There are still skeptics that the calling this a big bubble.
Cryptocurrency solves the basic problem of payments or avoiding charges from the present monetary system. Which frankly I also admit it’s a pain as we must pay money to send money. Or even pay money to withdraw money.
However, in 2018 like other major shakeups, cryptocurrency will be also used more to protect the personally identifiable information (PII). Link this
We are all worried about the personal information being available all over the internet with no trace of where personal information is used. Like cryptocurrency, we will have a trace of every application, websites etc where personal information is shared or stored.
4) TV embedded with virtual assistance.
This is something that I am personally interested in as I own both Google home and Amazon echo.
Now the way Google Home Works!
Hey Google, show me Hello on Chromecast
I like this song so this probably is my closest example 😊
I am sure the line would be different as now I don’t need to say the same thing.
Also as the information fed in Google & Alexa AI will get smarter everyday perhaps they would also invest more time and money on accepting different accents.
For instance, different Asian accents over different European accents.
I have noticed that there is the difference when I request for some information about my daughter requests. For example, the pitch at which my daughter speaks is higher sometimes and that affects the way Google Home or Alexa Echo understands it.
Like VR gadgets this was also a massive success in 2017. The usage will continue to rise in 2018 as well in various sectors like border control or scanning car or moving devices. On paper, it might look like its only taking videos but in reality,
- there are sensors attached which can sense the presence of unwanted visitors
- Can work during the night to serve the purpose of security
- Can work in a stealth mode
6) Health Gadgets
We have already seen a lot of health gadgets that’s primary purpose is the help end users by monitoring their
- work rate
- blood pressure
- sugar content measurement
- the scan of eyes, teeth etc
We will continue to see the growth of this segment and quite frankly I am quite excited about seeing different gadgets. I am happy to see its being used to benefit a lot of people around the world.
Going forward in 2018 regardless of any 6 sectors as mentioned above, these advancements are meant to help us. Whether we see an improved version of existing gadgets in health or we witness new drones serving millions of people around the world we are yet to see. I won’t be surprised in 2018 if we will see a gadget that will read my mind to assume that I am hungry and order a pizza for me using my credit card information without me having to instruct anything. That would be a great innovation in the digital world.