Opportunities for the Global Innovation Economy

31 Jan 2017
This month 177,393 people gathered from around the globe to attended the Consumer Electronics Show in Las Vegas, which covered a record 2.5 million square feet and hosted over 3,800 exhibitors. The Consumer Technology Association have been meeting and discussing consumer electronics for 50 years. This year, the two forces that have been driving growth, globalisation and digitalisation, are in question.

Every business needs to look at their business environment and question what is right for their business. Not only should businesses be assessing their financials, the political and trade environments, they now need to assess their digital needs, efficiencies and emerging markets. Changing the way we think about our business is crucial to survival in the current climate.


Globalisation
Globalisation continues to be a powerful force; every business today needs to think of themselves as an international company. Every year 100 million people rise into the middle class, largely into the emerging market. As businesses, we are going to end up building closer and closer to the end market that we actually serve. The natural trend toward regionalisation has already begun, being more efficient and more productive, it’s not going to stop. The nirvana of any business is to be close to any of its customers, so it can be responsive. Businesses need to be careful they don’t become uncompetitive. This is where technology can help, by bringing businesses closer and closer to their end markets – to their customers.

Digitisation
By 2020, the average human will generate 1.5 GB per day via social posts, emails and so forth. The autonomist car however, driving just a few hours a day, will produce over 4,000 GB, which is the equivalent to approximately 3,000 people accessing the internet. In the next few years, technology will evolve rapidly in the artificial intelligence arena. What does this mean? The computer will stop collecting information and data in a linear way and start gathering data in a random way and find patterns. Computer systems will begin to think like our brains do and self-learn. By the end of 2017, systems will be able to look at data-bases and find trends, without being told to.

Toyota unveils new concept car at CES 2017.

Internet of Things moves to A.I.
There is a shift away from the age of the internet to the age of intelligence. This artificial intelligence technology will power our nowadays ‘smart’ objects and make them actually smart! From consumer devices to industrial applications to cars, everything is now about creating and using intelligence. John Curran, managing director at Accenture for communications, media, and tech, said in an interview, “It’s a golden thread that will be woven through so many of the technologies that we’re going to see at CES — everything from automotive to robotics to smartphones to health and fitness. You have an opportunity for device manufacturers and companies who are building services to run on those devices to leverage A.I. and create much easier-to-use, much more intuitive and natural customer interfaces.”

LG OLED TV display at CES 2017

Australia’s Needs
Back home, the evolution to the next-generation 5G network will play a crucial part in Australia’s ability to adapt. Telstra’s Chief Executive Andy Penn attended the 2017 Consumer Electronics Show and says 5G will be the solution to address growing demand for more media, bandwidth and data, particularly when new technology like virtual reality becomes commonplace. It will also be important for the billions of devices such as sensors which will play critical roles in running homes, healthcare and driverless cars to communicate with each other.

"If we want to be a world-class technology company, we have to understand the way people use tech is very different than 15 years ago. There is no technology innovation that doesn't rely on the network," Penn says.


Your Business
With Komosion’s combined experience in strategy and consulting, customer expertise and digital know-how, we are well-placed to discuss your business’s needs through the evolving digital climate.

Komosion’s unique approach extends from strategy through to functional execution and related support services, delivered by a team that combines years of consulting and C-suite experience across an array of digital channels. This approach ensures that we understand the role and objectives of every channel and engagement point we build or support.

Our Customer Experience Design process includes mapping and analysis of customer journeys, touch points and business service blueprints. By understanding customer needs, triggers and emotions, we are able to help your business prioritise, innovate and achieve optimal competitive advantage.

Contact us to arrange an appointment and start thinking about your future.