The speed of innovation in (digital) technology is massive with every industry impacted, creating countless opportunities for businesses to invest in. This could mean years and years of continued development fuelling further economic growth. Especially due to the pandemic, we have seen an increase in the adoption of new technologies and a great increase in the digital transformation overall. To not get lost in the vast array of possibilities, companies should determine their risk appetite and digital maturity, which determines their ability to be an early adopter or not.
Web3 & blockchain introduces new ways to develop web applications based on blockchain technologies, putting the data back in the hands of the user. For example, Dubai has identified 20 use cases to digitize many of the government services such as requesting an ID and subscribing to a university. Another example in The Netherlands is Datakeeper, a blockchain based digital identity solution which we supported in designing and developing together with Rabobank, and all the big banks are now keen to adopt as the country's standard. Datakeeper allows users to share their personal information in a trusted and secure manner, for example leading to the elimination of paper-based administrative steps when picking up a rental car.
Decentralised Finance & Cryptocurrency creates innovative solutions in payments, lending and ownership of both physical and digital assets using NFTs.
Extended reality with Augmented Reality (AR) allows users to add 3D imaging in the physical space and Virtual Reality (VR) allowing users to submerge in a digital environment. This opens up a world of possibilities. In Healthcare, we see VR is used to reduce the impact of pain from burns or suffering from mental diseases like PTSD, or to train physicians in operating on the exact body of the patient using 3D scans and imaging solutions. Social interaction can take the next digital surge when consumers adopt the Metaverse, enabling businesses to offer new services or digital equivalents of their physical products. Why not buy digital furniture to fill your virtual home, from the same manufacturer you buy your real furniture?
Applied Artificial Intelligence makes use of computers and robots to automate mundane manual tasks with use cases in design, software engineering and content creation, or find relevant information in a tsunami of data as is done in managing cybersecurity.
Data fabric & composable applications create more opportunities for companies to monetise data and operate at scale in complex ecosystems.
There will always be new tech trends identified with apparent enormous potential, where the use cases simply do not allow for viable business models. How many attempts have we seen of vehicles that can drive on land and in the water, or drive and fly. There simply is no use case that makes people want to buy these products. Same holds for technology, especially when products are created, not because the user recognised the value in it, but because engineers just want to work on the latest tech without understanding how it relates to business outcomes and profitability.
Want to know what trends could open new revenue streams for your company?