TECHNOLOGY IS THE ANSWER

Technology holds the key to shaping the world around us. It gives opportunity to companies that do it wise to move them into the new digital society.

Healthcare company has transformed from the place that fills prescriptions to a provider of affordable basic healthcare services e.g CVS Healthcare Company.

With the company’s smartwatch compatible mobile app, customers can set personalized reminders for taking their medication, snap pictures of their prescription to expedite refills etc. You can book for your treatment and pay online. There is also room for people to receive treatment through telemedicine services like Teladoc where patients can receive care via phone or video chat.

As technology becomes a trusted colleague, the line between business and personal endeavours fades. Companies will become partners with customers and employees, and with the rising ecosystems of businesses beyond their own walls.

With these and other reimagined reletionships, success is tied not only to the success of products and services, but also to the success of partners. Relationships are no longer about keeping customers or employees happy as the company guides them toward a goal; they will be about walking with people on a path that they define, and designing technology to help them navigate it as they choose.

Read more on Future of digital Technology and People

Technology for people

The innovations in technology today are not technology tools themselves but to design them with people in mind because every business is already digitalized.

Five Trends about future Technology

1.      Artificial Intelligence (AI): AI will become every company’s digital spokesperson. AI already plays a variety of roles throughout the user experience. AI is taking on more sophisticated roles within technology interfaces. AI is making every interface both simple and smart and setting a high bar for how future interactions will work.

As AI takes over more of the user experience, it grows beyond just an intelligent interface. With each customer interaction becoming more personalized, powerful and natural, Artificial Intelligent moves into an even more prominent position: your digital spokesperson.

Read about Electronic Cars

In five years to come, more than half of company’s customers will select services based on AI instead of their traditional brand.

2.      Ecosystem power plays (Beyond platforms): Most companies are increasingly integrating their core business functionalities with third parties and their platforms. They are designing future value chains that will transform their businesses, products, and the market itself.

In the next five years, the majority of customers will be purchasing goods or services through digital “middle man” such as messaging platforms, connected devices, or smart assistants.

3.      Workforce Marketplace (Invent Your Future): Driven by a surge of on-demand labour platforms and online work management solutions, legacy models and hierarchies are being dissolved and replaced with open talent marketplaces.

The digital era is breaking the industrial era models of how companies should do business.

In five years to come, the presumptive judgments around full-time employment and freelancers will flip completely. Talent marketplaces will provide workers with improved earning opportunities, more rewarding work, secure benefits, and respected credentials. By year 2022, the traditional purpose of industrial era corporations and management models will be replaced, having been displaced by digitally connected marketplaces.

4.      Design for Humans (Inspire New Behavours): The new borderline of digital experiences is technology designed specifically for individual human behavour. Business leaders recognize that as technology shrinks the gap between effective human and machine cooperation, accounting for unique human behavour expands not only the quality of experience, but also the effectiveness of technology solution.

In five yaers to com, multinational organizations will introduce employment-facing technologies that are able to identify when a worker is frustrated and then alter the tone and style of feedback or guidance automatically delivered to the worker.

5.      The Uncharted (Invent New Industries, set New standards) : Businesses are shaping new digital industries not only creating new products and services. To fulfill digital ambitions, companies must take on a leadership role to help shape the new rules of the game. Any company that find a place at the centre or near of the new ecosystem, while those who don’t risk being left behind. 

     Read about Technological acronyms and their meaning