Future Innovations
What is changing?
Technologies
- By 2021, the biometrics market will reach $30 billion and shift its revenue focus, moving away from the governmental sector to emphasize opportunities in the consumer and banking sectors.
- Industrial Revolution 4.0 will be shaped by a fresh wave of innovation in areas such as driverless cars, smart robotics, materials that are lighter and tougher.
- The global wireless connectivity market, excluding cellular connectivity, to reach more than 10 billion annual IC shipments by 2021.
- Fog computing will become the innovation to dramatically raise the value generated by the Internet and the computing power.
- Budgeting, facilitated payment and a variety of other unique challenges will be addressed by tools that utilize data and learning.
- Basic health care will become more available and innovation will become more common in emerging markets.
- Device evolution and application innovation will continue to drive the exponential growth in demand for personalized mobile broadband in the next decade.
- AI will fundamentally disrupt content producers, consultancy and research firms
Customers
- Greater speed, value,innovation, and closer alignment with demanding customers will be the new normal.
- Device evolution and application innovation will continue to drive the exponential growth in demand for personalized mobile broadband in the next decade.
- The next wave of innovation will focus on creating a full suite of services utilizing AI to drive financial health and literacy.
- VR headsets will take people to places they could never visit because of cost issues or feasibility.
Players
Economics will force companies towards more open innovation.
- 29% see China achieving a "top 3 global contributor" role by 2025 in global drug innovation, while 62% believe that China will need to settle for a "solid 2nd tier player" position.
- EU authorities will invest €500 million to set up digital innovation hubs in technical universities and research organisations across European regions.
- Innovation will be a prerequisite to leadership across all elements of national power.
- Dual-SIM growth will drive innovation from MVNOs.
- Technology innovation will always outpace regulatory and standards bodies who want to freeze-frame it in order to put their stamp on it.
- Incumbent carriers are asleep at the wheel of innovation and will likely stay asleep for the next few years.
- Revolutionary innovations will abound as crowdfunding empowers the masses to turn their ideas into reality.
- Achieving a Digital Single Market that supports innovation and empowers businesses to understand and use data will benefit businesses across the economy.
- By 2018, analytic applications aligned with the IoT will result in a 15% productivity improvement for manufacturers in terms of innovation delivery and supply chain performance.
- Platform directors will need to establish and manage governance models that strike a balance between enabling open innovation.
- In an increasingly urban world, digital technologies and big data will be critical for creating tomorrow's citizen-centric City Hall.
- Established FIs will need to experiment with new business arrangements (such as partnerships and joint ventures) to gain access to the talent and the innovation needed to pinpoint game-changing products.
Implications
Litigation
Arts
- Digital intervention in classical music could open the world of music for hitherto uninitiated with the requisite tools for appreciation and innovation.
Enterprise
- Awareness campaigns, norms and scientific communication could encourage the uptake of innovation.
- More than 20% of the traditional financial services market share could be lost to disruptive new players in the next five years.
- There could be a Global 2000 company within 10 years that has no full-time employees.
Drivers
markets · technology · businesses · business schools · global gdp · competition · costs · revenues
Athena's forecast (robot generated from verbatim forecasts)
- Start year: Ongoing
- Likely Tipping point: Ongoing
- Likely End year: Ongoing
- Likely Impact $: Trillions
- Likelihood: 90%
- Regions affected: Global
- Most affected sectors: Energy, Transport, Healthcare, Telecommunications, Banking, Construction, Technology, Education
Questions (New Service)
What future opportunities and risks could arise for your organization from advances in 'Innovation'? Develop your answer and response here.
- What innovations are you most excited about?
- Which innovations will deliver the greatest business value?
- How should we respond to the quickening pace of innovation?
More innovation questions (use the Forum buttons to record your answers)
Learn more
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