Over the next year, we will see a lot more of certain modern technological developments. Marx’s technological determinism echoes with the introduction of artificial intelligence and the likes. This is true of not only advancements in computer technology, but of technology as scientific knowledge that will affect the development and evolution of all industries. This technology is already in effect, however it is predicted to boom in 2018.
Voice assistants no longer hold the reputation of being strangely futuristic as more and more people incorporate them into their daily lives. The emergence of technology such as Google Home and Amazon Echo creates an extensive list of possibilities of what one can do through technology. There are so many readily-available features, from translating words into different languages to controlling home appliances, with a huge range of actions in between. As for business, this is a whole new landscape for advertising, business presence and modern services.
AI-first is a fairly new concept, overtaking the original mobile-first approach. Although this seems like a daunting concept, AI is present in more of our daily lives than many of us realise. Gmail, for example, uses machine learning for multiple things we wouldn’t give more than 1 second thought to. Ever found that Gmail delayed sending your email to ask if you have attached your file? It uses machine learning to scan your email for signs that you meant to do this. Using AI even just to enhance workability could propel your business forward as less time is being spent on admin, data accumulation and basic digital interactions.
Product & Service Personalisation
The personalisation of the consumer’s experience through products and services is an important strategy for business. Example: beauty brand No7’s “Match Made Service” which scans a customers skin to find their perfect shade of foundation – a personalised experience with a personalised product. This was one of the first in the UK which brought confused customers running to them for a scan with their special technology. This led the way for personalised or custom-blended makeup services, which most big makeup brands offer these days. The satisfaction of “the individual” will aid in increased competitiveness of a business, as customers care about “me” more than “we, the public”.
Data Valuing Tools
Personal data as a valuable asset is becoming more of a concern for users as talks of it being sold to large multinational corporations circulate on the net. The introduction of personal data value tools/platforms will assist consumers in discovering the worth of their data as the reality of data brokers sets in. The fact is that an enormous amount of data is collected by social media companies every second, however the creators of this data get nothing in return since they do not own it. However, some are thinking of ways to work around this, such as storing data on a decentralised blockchain in order to gain control over its access.
Industries are beginning to connect and merge with the development of technology in each sector. It acts as a commons on which all industries can evolve through new products and services, transforming into a modern day version of what they once were. For example, it makes sense nowadays to buy our mobile plan through our TV and broadband provider, rather than through an external mobile provider. Once upon a time, we would have had a mobile plan with O2, a TV subscription to NTL and a internet service from Eircom. It’s safe to say that Virgin Media and Sky have successfully converged all three industries into one multi-servicing giant.