technology rising -themetaeconomist

Rising Technology Trends Impacting the World

20 July 2022


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Arthur Clarke said, "Any sufficiently advanced technology is indistinguishable from magic" – Having known this let’s take a sneak peek as to what is in store as major technology trends as per me - 

Anywhere and Anytime Data/AI/ML aiding Digital Transformation: Orchestrated pre pandemic but accepted as a necessity during the pandemic, businesses and governments have realised the strong need to induct digital transformation. Having said this, as the enterprises gear up to connect their disparate offline and online touchpoints, customer data assimilation from varied systems and emergence of a single customer ID based on first party data will be the key to have better personalisation for customer engagements across sales to service leading to higher LTV, RFM and lower CAC. This is and will keep powering up forward looking customer data stacks or CDP as we know them today, with clear omnichannel communications in built or taken live with no-code API orchestration. AI is being infused in most gadgets around us, and soon everything, which ushers the Edge AI evolution, where AI is not centralised anymore, but ingrained in objects ‘at the edge’. As AI becomes omnipresent, questions about the ethics in AI will become the guardian topic and given the core is based on data thus privacy by design will be the corner stone! 

Metaverse: The metaverse, NFT and Web3 hype will continue fuelled by the ongoing frenzy. The reason is the rise of the creative economy and the proposed decentralisation of the web – but there is a lot of muff too, and that will be taken down. Ideal used cases of how NFT can power up more value creations in this creator economy (music, sports, tourism etc) or blockchains being set up for transparent, secured distributed ledgers across industries like education, tourism, government, advertisement, scientific research etc will be interesting to watch! The key to success in long term will be dependent on a single factor – mass adoption, till then its only a lot of noise. 

Work 5.0: The pandemic that the world has recently witnessed and still trying to wriggle out of has had daunting effects in the way we work. The whole work-from-home culture, has given rise to the ‘passion economy’ (as mentioned by author Adam Davidson) that has ensured that the future that we envisioned in work aka work from anywhere, hybrid work, multiple employers, resignations galore, sharp resources costs, less fulltime with more parttime assignments, work-life integrated balance, and the redundancy of geography (nomad visas on the rise) – has accelerated into the present and sharply hustling forward. The pandemic has forced us to decentralise everything – work, retail (anywhere commerce), food (cloud kitchens to delivery), wellness (telemedicine), education (home schooling). This change could be irreversible (if not already) and is what is driving up the massive demand for digitalisation. The enterprises who adapt to the same will evolve to accept the new work rules and ones who don’t will have a lot of challenges up their sleeves to say the least. 

Not touching the clairvoyant route for now, as Alvin Toffler has said, “The illiterate of the 21st century will not be those who cannot read or write; they will be those who cannot learn, unlearn, and relearn.” Which amongst this is applicable to the above is only for the sands of time to proclaim! 

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