Future Innovations

The ease of starting tech-intensive firms and masses of data in a deeply networked world will drive more innovation than ever before. Coupled with new science and technologies, innovation is set to disrupt all sectors in the next decade. Read on to get a glimpse of what’s coming and consider your response.

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)

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 businessesacross 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 theinnovation 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

Learn more

Find more sources and resources on Shaping Tomorrow , some of which were used in this Trend Alert, or ask us for our ready-made and free, in-depth PowerPoint report or more detailed GIST briefing on this or any other topic of interest to you.

Also, click here to find out how Shaping Tomorrow can help your organization rapidly assess and respond to these and other key issues affecting your business.

Ask us to show you how you can produce similar, private Alerts for your stakeholders on topics of interest to you.

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