1. THE CREATION OF NEW ECO ENVIRONMENTS TO TAKE THE NEXT GENERATION OF AUTOMOBILES FORWARD
Car manufacturers, technology companies, hyperscalers and infrastructure providers will create new business models to offer the next generation automobile. The idea of a totally personal CX experience covering family, friends and business is now going to emerge in 2024. AI, IoT, ubiquitous 4G and 5G coverage, digital twins, AR and VR will be the key stone foundation to make this a reality along with other elements, such as regulations and insurance policy guidelines, etc.
2. PERSONAL FAMILY ALL-ENCOMPASSING BODYGUARD
In recent years, there has been a growing demand for innovative family protection measures against various threats, including scams, pandemics, environmental issues and terrorist attacks. Leveraging smart communication devices, microservices applications, regulatory compliance, next-gen protocols, extensive satellite coverage, and advanced technologies enable rapid responses to mitigate damage from these threats. The emerging concept employs avatars, AI, machine learning, and virtual reality to enhance protection and address challenges like identity verification. This is crucial as these technologies can simulate alibis, complicating crime detection processes.
3. SUSTAINABLE PERSONAL FAMILY LIFESTYLES
Sustainability utilises technology and common sense to ensure a brighter and greener future. Applications will play a role by eliminating physical mail and certified signed documents and smart mapping will reduce fuel consumption. IoT, monitors and other elements will reduce water usage and waste. New materials for clothing to activate for warmth or cooling are already in production.
4. AVATAR EMPLOYEES
The idea of an avatar as a digital personification of a physical customer or employee is already being utilised in call centres, teaching, health, emotional support, and training. New technologies such as whisper, multi-language support, emotional recognition and expression utilising the new ICT applications such digital twins, AI and machine learning are entering the mainstream at an extremely rapid pace.
5. MESSAGING COMMERCE
The integration of business activities into apps like WhatsApp, WeChat, and Facebook Messenger has emerged as a major trend in omnichannel sales, providing businesses with convenient channels for direct and personalised communication with customers. Voice assistants, such as those from Google and Amazon, further contribute to this trend, offering a hands-free and user-friendly experience through voice commands. This mode of commerce proves particularly advantageous for users who prefer voice interactions or find typing impractical. Notably, text message marketing is a potent tool for businesses to engage consumers directly, delivering targeted messages, promotions, and updates to users’ messaging apps. However, a significant challenge lies in ensuring security and privacy in this evolving landscape.
6. VIRTUAL RETAIL POP-UPS
Virtual retail pop-ups refer to temporary online stores or retail experiences that exist for a short period. Unlike traditional pop-up shops that appear physically for a limited time, virtual retail pop-ups take advantage of digital platforms (virtual reality, augmented reality, metaverse) to create immersive and time-limited shopping experiences. Virtual pop-ups aim to replicate the immersive and experiential aspects of physical pop-up stores in a digital format. This may include interactive features, 3D product displays, virtual try-on experiences, and engaging multimedia content. Some successful virtual pop-ups, such as Puma’s virtual basketball court, Kylie Cosmetics, Levi’s AR experience, Adidas VR sneaker drop, and Ikea’s virtual kitchen experience have proven to increase product awareness, create better consumer knowledge, and increase future sales.
7. HEALTH CONSCIENCE CLOTHING
In 2024, health conscience clothing is set to surge in popularity as an increasing number of individuals prioritise health, age awareness, and recognise the integral role health plays in financial planning for families, corporations, and governments. Health-conscious clothing involves incorporating technology and innovative materials to enhance well-being. Anticipate trends such as biometric monitoring clothing with embedded sensors tracking metrics like heart rate and activity, transmitting data to devices for analysis. The integration of wearable devices, like fitness trackers or smartwatches seamlessly woven into fabric, eliminates the need for external devices, enhancing user comfort. Expect real-time compression garments for improved blood circulation and reduced muscle fatigue, as well as advanced garments offering real-time biofeedback to manage stress or anxiety through technologies like haptic feedback or embedded sensors.
8. TOTAL PERSONALISED LIFE CYCLE ADVERTISEMENT
The concept of “Total Personalised Life Cycle Advertisement” suggests a comprehensive and tailored approach to advertising that spans the entire life cycle of an individual. This involves creating targeted and personalised advertisements that cater to specific stages of a person’s life, from early childhood to old age. Creating, and monitoring the life journey from the beginning to the end, crafting a cohesive and compelling narrative that spans different life stages can create a strong emotional connection with the audience. This storytelling approach allows advertisers to build brand loyalty and resonate with consumers throughout their entire journey. By using new technologies, the word personal means many environments such as families, friends and work.
9. ZERO CARBON AWARE INDUSTRY SUPPLY CHAINS
Zero carbon awareness has both supporters and critics, but the current state of climate change, as outlined in a McKinsey & Company report, is a result of humanity’s remarkable technological progress – an externality in economic terms. While technological advancement has led to unprecedented global prosperity, it has also brought emissions-intensive production and consumption that are unsustainable. However, technological innovation, which played a role in creating the crisis, can also drive the recovery. Essential to reducing global emissions and achieving net-zero is the transformation of technologies in power, mobility, industry, buildings, and agriculture. Recognising the interplay between technological progress, climate change, and the potential for innovation is crucial. A global shift towards sustainable practices and the transformative power of technology is necessary for a net-zero emissions future.
10. LARGE ENTERPRISES WILL BE COMBINING THE CIO AND CTO INTO THE CITO
Combining the roles of Chief Information Officer (CIO) and Chief Technology Officer (CTO) in an enterprise can foster a more integrated and streamlined approach to technology leadership. By unifying the responsibilities of strategic IT planning and technical innovation under a single executive, organisations aim to achieve a cohesive vision for technology that aligns seamlessly with business objectives. This consolidation can lead to faster decision-making, cost savings, and a more agile and innovative technological landscape. However, the success of such a merger depends on finding an individual with a diverse skill set capable of balancing the demands of both roles. Regular assessments and adaptability to the evolving technology landscape are crucial to ensuring the continued effectiveness of this combined leadership model.
If you’d like to hear more about how Blenheim Partners are supporting our clients in attracting current and emerging leaders to realise the true benefits of technology and digital for their organisations, contact us.
Barry Lerner
Technology Practice
References: Ernst & Young, McKinsey & Company