Yesterday we attended another TechInsight meeting organized by Deloitte Digital during which business leaders met and discussed the technological trends that will most affect companies in 2020.
Designing successful businesses for the future requires an understanding of today’s realities and challenges, but also a great awareness of tomorrow’s opportunities. That’s why below we present a few of the trends that Deloitte believes will have a major impact on the market and hopefully will inspire you to implement some changes in your own everyday business.
Ethics and trust in business
It is common knowledge that customers are afraid of changes that they don’t understand. Therefore, it is not difficult to state that the implementation of a new technology is each time burdened with a high risk of losing confidence in the brand. Trust is often a huge brand asset that has long gone beyond mere marketing activities, and is treated as an asset to the company critical in generating profits.
The risk of losing trust is enormous. Therefore, the ability of companies to quickly and precisely answer the question of how we use customer data and how we track user activity data is crucial. Maintaining transparency and good communication in the area of technology is a solid foundation for building trust with customers.
How can you start building trust in technology?
Encode your values – how? A great example of this is the recommendation algorithms used by Empik, which knowingly excludes books that violate its organization’s values, e.g. call for discrimination or are opposed to equality.
- Build a strong database that will allow you to answer customer questions.
- Respect their right to privacy.
- Be transparent and respect the cultural standards of the country.
- Take time to educate your employees and explain the benefits of change.
Platforms of human experience
Until now, computers have not been able to associate events with human emotions, but this state of mind is changing little by little as innovators try to combine neuroscience with artificial intelligence. Thanks to this, they want to find an answer to the question how to be human in relation to another human being while actually being a machine?
By combining affective computing, human-oriented design techniques and technology used in neurological research, human needs will be better understood. This will enable the recognition of a client’s emotional state and context, so that an appropriate response can be selected. The use of emotional data on a large scale can give a huge competitive advantage to companies that will use it as a pioneer.
By taking advantage of the increasing possibilities of simulation and modelling, IoT sensors and the growing popularity and availability of platforms and tools, we see more and more bold steps being taken by companies in the use of digital twins. Digital twins are basically digital replicas of a living or non-living physical entity.
What are the potential benefits for business?
Help in planning large investments, where we get a broader view and insight into the risks involved from the outset. Using this solution will allow us to save our resources – avoid unnecessary costs as well as losses in employee productivity (we could have a training program based on a digital twin with the use of VR glasses). A great example of successful implementation is the creation of the digital twin of San Diego’s streets in order to create a model for all traffic in the city. This has made it possible to map new routes and test them in a safe environment and avoid unwanted traffic jams and failed investments.
The digital twins are a great opportunity to support the process of making decisions on new products with real-time data.
We are facing another phase of digital transformation and our company’s success is based on the decisions about the future that we make today. We showcased just three trends out of six but I hope this inspires you to take some action and learn even more. The full report can be found here.
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