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Five Tech Trends Set To Transform The Business World

From accessible luxuries to the gradual disappearance of apps as we know them, 2016 will see a raft of emerging technology trends take hold. Here are five of the most impactful ones.

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From accessible luxuries to the gradual disappearance of apps as we know them, 2016 will see a raft of emerging technology trends take hold. Here are five of the most impactful ones.

Opinions

Five Tech Trends Set To Transform The Business World

From accessible luxuries to the gradual disappearance of apps as we know them, 2016 will see a raft of emerging technology trends take hold. Here are five of the most impactful ones.

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VR goes mainstream. Luxury trickles down to the masses. Services with manners. These are just some of the 2016 Trends identified by our 750 designers, developers and thought leaders at design and innovation consultancy Fjord.

Our Trends were selected with what is most relevant to entrepreneurs. They reveal what our clients want, our experiences as users and what we believe the impact new emerging technology will have on businesses in 2016.

The Rise of Big Data Etiquette

Smart technology is increasingly offering unprecedented views into our lives through the collection and storing of personal data. While the sharing of personal data is often met with a measure of distrust, the success of our ever growing connected world, hinges on how businesses choose to invest in lawful, respectful data practices.

Digital trust is more important than ever, turning data protection and security into a social responsibility. Businesses are beginning to understand the significance of leveraging vast data sets in an ethical manner.

By implementing ‘services with manners’ businesses can turn consumers’ mistrust into an opportunity to leverage data and embed privacy into the technology and product design process from the word go. By applying the ‘privacy by design’ concept, businesses are ensuring their future in their industry, be what it may.

big data

Trust must go hand-in-hand with data

Consumer trust can be earned by ensuring every data exchange is as human an experience as possible. Intent of data exchange must be upfront, friendly and transparent. Finally, be prepared to upscale resources dedicated to data privacy and security.

Virtual Reality goes Mainstream

The impending launch of consumer versions of Virtual Reality (VR) products, from the likes of Sony, and Oculus, means 2016 will be a critical year for this once sci-fi technology.

Not too long ago, VR was too bulky and expensive for mainstream markets, but the creation of affordable consumer VR will not only offer the next dimension in gaming but will also offer enhancements in industries such as business, tourism and health.

Virtual Reality will begin finding its way into our work, as well as homes. The key to using VR to your advantage is to identify its place in your business in order to enhance and extend your position within your industry.

Consequently, VR will begin influencing internal business processes such as how people meet, collaborate and interact with each other. Imagine VR being able to limit or scale back costs of business travel.

Healthy is the New Wealthy

A new currency is emerging in today’s tech world… one with which consumers measure their wellness and whose value could override that of money – health data.

Self-monitoring is no longer reserved for a small, tech-savvy customer segment, it now being used by the masses for both leisure and preventative care. With the rise of self-monitoring technology, like fitness wearable devices, health is now something we can all keep track of and learn from.

Arising with health monitoring and data are opportunities for greater preventative care and positive behaviour changes. Health data can also facilitate more productive and timely interactions with healthcare practitioners; minimising avoidable and costly healthcare emergencies.

Brands have at their disposal the tools to reimagine their products and services as ‘wellness agents’, changing the emphasis from product focus to outcome focus.

The Flattening of Privilege

Digital technology is beginning to upend the notion of both old and new money by opening up the luxury service market to the masses.

Thanks to technology, lifestyles of the highly privileged are becoming mainstream with personal assistants - Facebook M for example, affordable luxury getaways with Tablet Hotels, and having your laundry collected with Washio.

Holiday in Maldives

Luxury ain't just for the rich anymore

Data ubiquity and customer experience engineering are democratizing services in banking, healthcare and education which is drastically flattening privilege services. With these adjustments, we will see the emergence of a new strand of luxury products and services - think personalised technology platforms – a platinum iOS.

In order to make the most of the flattening of services, one-directional businesses should build multi-disciplinary teams with collaborative and diverse work environments to better consolidate their efforts toward understanding and empowering the users of the future.

Disappearing Apps

We are witnessing the start of a major shift in the app landscape, where they’ve transitioned from being user-controlled to proactively powering a user’s life. The single-use apps in our daily lives will disappear, enabled by APIs and the rise of platform.

As they “plug in” to platform, they become “atomized,” or distributed, across platforms and third-party services. To survive apps will have to work across a multitude of platforms and 3rd party services, without losing their brand identity.

Two excellent examples of brands that have pioneered the evolution of apps are Spotify and China-based WeChat, dubbed the ‘Super Platform’, which functions beyond a traditional messaging app.

WeChat has 10 million third-party apps hosted within it, allowing users to do everything from hail a cab to paying bills. Banks will also jump on the more sophisticated app bandwagon, allowing users to send secure payments through social media.

To prove their worth, brands will need to start designing for their user, to ensure they offer a personalized, seamless, and effortless experience.

Changing Face of Business Tech

Advancing technology has lent a changing face to the corporate world and in the coming year, we expect to see more businesses adopting trends like VR, big data etiquette and employee experience design.

It’s no longer enough to know what tech is out there; businesses will need to listen to their clients, users and employees and incorporate the latest technological advancements into their organisations to remain in the game.

Click the link to learn more about Fjord’s 2016 Trends.

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Five Tech Trends Set To Transform The Business World

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