As you know, technological advancement doesn’t follow a linear progression – but rather an exponential one.
We’re seeing rapid advancements in the near future and this is set to irrevocably change how we do business.
IT companies will have to provide new solutions to tackle new problems.
And Melbourne, a city positioned to adopt the new, will be one of the first places to experience these changes.
After reading this you’ll know what to expect.
Big data is a phrase that means something different to everyone but the experts refuse to acknowledge anything as ‘big data’ that has less than 8 million entries.
With our improvements in tracking tech we’re able to record every interaction that an end-user has with a product. These learnings will mature and become more accessible in the future.
Through this process we can create better user experiences, create new products, new software and new devices. We get a deep understanding into the behaviour and phycology of our customer.
It truly is the Holy Grail that business owners didn’t know they needed.
3D printing is today what the internet was in the early 90s: a new innovation that we know will have a big impact in our world.
Although we’re not exactly sure what that impact will look like – we do know it will be huge.
It’s clear that the path 3D printing is to take is a little foggy – yet massively disruptive.
What to do today:
So far there have been 245,000 3D printers sold in 2015. By 2019, they’re predicting 5.6 million units shipped.
They’ll become more affordable as time goes on so start thinking about any products that you currently produce and if 3D printing could cut some costs.
As seen in the report released by Foundation for Young Australians – 70% of young people are currently training for jobs that will be radically affected by automation in the next 10 years. And we’re not ready. Automation is coming like a steam train and is set to leave millions jobless.
Watch this video on automation and the future: Human’s Need Not Apply https://www.youtube.com/watch?v=7Pq-S557XQU
We’ll see this more in 2016, especially around the transport & logistics industry. Mass adoption of self-driving vehicles is just around the corner. They don’t need to be perfect – they just need to be better than humans (and that’s a pretty low bar we’ve set).
What to do today:
Don’t fight it! There is already software out there that automates many things a business does from accounting to marketing (although it does take require some input – for now).
Embrace this new future and research what tech could make your organisation more efficient.
We’ve seen Machine Learning in its infancy. The famous Tetris bot is an early example of AI teaching itself.
Through playing millions of rounds of Tetris the AI learned what pieces should go where, the best line formation and the best strategy for maximum clearance.
The pieces never stopped falling, though.
There was no win-state.
So one day, after losing again, the AI simply pressed pause and never unpaused.
It realised it could never not lose and so discovered the only winning move was not to play.
The implications of this are significant. If AI can learn to think outside the box like that, then the future of innovation is bright.
What to do today:
It may be too early for practical use today but AI learning will undoubtedly have a massive impact on our lives.
Machine automation will affect blue-collar jobs. Machine learning will affect white-collar jobs.
We will see a massive shift in the business landscape. You’ve probably already read an article written by a bot – and get used to seeing this expand into most industries.
We’re on the verge of something very interesting.
The very foundations of how business is conducted will change.
So don’t stagnate.
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change” – Charles Darwin