Greetings to all from the increasingly returning to normal Harbour City. I’m finding a reasonable boost in the crowds along Circular Quay when I’m attempting to get a quiet Fish’n’Chips. Things are no longer so quiet which is a good thing for the local businesses. And being around the familiar buzz is a plus. With that in mind it makes me think of what we have to look forward to in 2021? In one of my recent articles I look at Digital Marketing Trends in the new year. But what about overall technology trends? What sorts of overall trends can we see impacting our Digitalsphere?
Things to Look Out For
From what I’ve gathered through observations, tech blogs and the occasional verbiage from the Tech pundits in the media I’m predicting some of 2021’s trends will centre around these areas: Creating social impact “woke” companies, a deeper embrace of VR, AI and ML, Continued focus on Cloud and Managed Services and Digital currencies.
Social Impact “Woke” companies
I happened to come across a recent article that stated 92% of consumers say they have a more positive image of a company that supports a social or environmental issue. And it was also noted (at least in North America) 42% of the shoppers would pay extra money for companies committed to positive social and environmental impact. North America is often a microcosm of the world so I’m guessing in many societies similar statistics might be applicable. And from the political banter I see on the likes of FB and Twitter this sort of mindset is prevalent, so any company with an interest in CSR (Corporate Social Responsibility) is definitely going to market themselves as being as “woke” as possible. Of course you will also have the detractors who don’t prefer any sort of political message. They just prefer a product or service and nothing else.
Deeper Embrace of VR/AR
Whilst thinking about the further expansion of Virtual and Augmented reality offerings for the consumer I actually uncovered enough material for a future article on those trends alone. Stay tuned for that Digital Fixation readers! For this piece I’ll note that global spending on AR/VR was forecast to be at roughly $19 Billion in 2020. And the commercial sectors will lead this spending as consumers want more of an immersive connection with their favourite brands. A number of brands have released AR and VR technologies to enable their consumers to preview products before purchasing them. When you factor in further adoption of 5G technologies it’s an increasingly exciting space to be involved in.
Increased Adoption of “Cloud” Services in the Enterprise
The recent rise of cloud computing can be its ease of use and well as the scalability of the technology. A number of other factors should allow it to continue to take off. Today’s IT environments are employing multiple platforms the most popular being the “hybrid” environment. Which translates to hardware being hosted on site or on premises and and a bit of the infrastructure being hosted online (in the cloud). But enterprises are increasingly moving away from hosting on premises and focusing more on serverless computing. As this offers space to work on core products and services without the need to operate or manage servers. With the benefits of managing and scaling of resources by serverless providers, look for the “cloud services” to go increasingly from a niche offering and more into the mainstream. In addition the cloud services does work more to the advantage of a workforce that would prefer to work remotely. There’s other factors that come into play such as AI as advancements in this technology will continue to revolutionise IT infrastructure and digital capabilities. This is another topic I could further dig into in a future Digital Fixation piece. Stay tuned!
One of my earlier articles focused on the ongoing explosion of cryptocurrencies such as Bitcoin, Etherium and Litecoin. In viewing the current financial landscape you’re finding a number of Countries further explore introducing Digital currency into the marketplace. The Bank of Japan recently released a report focusing on the foundational principles and core features of CBDC’s (Core Bank Digital Currencies). Sometime in 2021, the Bank of Japan will begin development of a test environment for the currency, enabling it to see how well it functions when the End User is conducting a payment transaction.In addition the US Government, South Korea’s Central Bank and the Bank of Spain are also exploring similar offerings. With the rise of Fin-Techs and Digital Banking in general, one could say this is “win win” for the consumer. Or will trust issues override this and diminish any significant uptake in this area.
Let me know your thoughts of some of these topics by dropping us a line here at Digital Fixation. I do plan on addressing the US Election a bit further in the next couple weeks. I’ll also dig a bit deeper into AR/VR topics and have a look at tech startups likely to make an impact in 2021. Until next time 🙂