At the end of every year, we predict trends that will define the future; the transformative means towards a technological end. 2017, however, is going to be unique, as ‘transformation’ becomes not only an end in itself, but the only means of survival. Nothing demonstrates this as much as the payments space in India, where the transformation has been so rapid, it’s almost unbelievable. Banks are transforming into mobile transaction enablers through UPI, whose integration with Aadhaar can make digital payments as simple as sending a message for large sections of India. Digital wallets are transforming into payments banks. From paying for toll to settling parking charges, purchasing food or fashion, paper money is transforming into digital money.While the transformation in the payments space was accelerated by a combination of infrastructure, policy initiatives and tech
The enterprise has to adapt, and fast. 2017 will be a landmark year with change (DX - digital transformation), collaboration (industry clouds), and ambient intelligence (AI meets IoT) preparing us for a future where the lines between digital and physical are not blurry, but indistinguishable. Nine in 10 Indian enterprises have already witnessed the rise of new competitors in the digital world, and in order to survive and compete, transformation will be key.
Here are the 7 trends that, in my view, will transform business and beyond.
Prediction 1 – Dedicated digital transformation teams
While 2016 may have been the year of ‘digital natives’ in an individual sense, 2017 will see the need for companies, and countries, to become digital natives.
In 2016, Indian enterprises were hindered on their digital transformation journey by immature digital culture for 33%, lack of budget and resources for 30%, and lack of right technologies to work at the speed of business for 32%. Nearly half (43%) don’t measure their digital transformation success. In 2017, this will be addressed by dedicated teams to drive this digital transformation at scale (think Chief IoT officer).
Organizations that build environments to create powerful context-aware applications with seamless integration across platforms, devices and, most importantly, user types, will enjoy first-mover advantage as the technology race comes to a head. But that’s not all. As is the case with any trend that reaches a critical mass, this too will result in the emergence of a compliance industry. Expect 2017 to be the first year of stringent and elaborate benchmarks for enterprise DX. Striking a balance between empowering, monitoring and policing DX standards will be essential for compliance and policymaking bodies to gain acceptance.
Prediction 2 – The rise of industry collaborative clouds
With cloud becoming the de facto platform, collaboration between organizations will drive industry growth. Collaborative clouds, platforms on which companies can work together to drive industry goals, are set to triple in number by 2018. This will have an impact on service delivery, compliance and on the cloud service provider market. Increased collaboration may also result in custom hybrid tech stacks that combine offerings from one or more companies to service niche clients. Stability and security will play a significant role in the growth of collaborative clouds as will the development of policy, specifically IP policy, to create a robust governance and resolution framework.
Prediction 3 – Impact at the intersection of innovation accelerators
The growth of the sector will be driven by the new age IT environment; technologies like the immersive AR/VR, cognitive AI, IoT and block chain go mainstream as innovation accelerators. IoT and AI have been long discussed as conceptual possibilities but 2017 will show us their impact as mainstream technologies. As a distributed computing system resistant to modification by design, blockchain is set to transform more than currency, as some advocates suggest, with security, services and government just some of the sectors set to be disrupted.
Prediction 4 – A shift in the
As the cloud becomes more commoditized and powerful, we will see a shift in the IT distributor business model. Brokered deals will be a large revenue stream for companies looking to function as strategic partners over mere platform/service providers. Credibility and reputation is likely to play a major role in not just the selection of service providers but also of the services/partners they recommend. There may even be room for cloud services to enter the shared economy space where platforms that aggregate cloud providers gain trust through crowdsourced ratings, ease of implementation and real-time data on performance and stability. In fact, 86% of Indian enterprises are relying on system integrators, value added resellers, consultants and other partners to help them on their journey.
Prediction 5 - Augmented Humanity - the movement from the quantified self (data) to human biosystems (‘living’ tech)
We have already seen the impact of technology on wellness. The humble heart rate monitor has morphed into a social device that measures holistic wellness including even sleep patterns and mood. The new year will see a shift from monitoring and measurement, to enhancement and rich context, as companies start to integrate technology into the human body, specifically wearables that pre-empt needs. The healthcare tech industry in India is in pole position to disrupt current systems of detection, prevention and delivery, where systemic inefficiencies have prevented their benefits from reaching citizens.
Prediction 6 – Immersive marketing and UX
Experience is now the differentiator between homogenous commoditized products and services. Personalization has never been more valuable as the corporate world fights the battle for relevance over preference. Attention is the new currency and brands will quickly need to move to an immersive UX-led model of marketing over engagement and reach-based outreach. Enterprise marketing may no longer be the stronghold of the seasoned B2B marketer and will open itself up to creative technologists, data scientists and behavioral economists. These hybrid teams will look to harness technology, big data and human psyche to create captivating experiences that drive brand and product salience.
Prediction 7 – Evolution of cybersecurity threats
As the boundaries between private and public IT infrastructure; hardware and services; enterprises and consumers; humans and machines dissolve, threats will transform as well. The motivation for cyber attacks has never been higher; the pace of transformation is overwhelming traditional technologists, the financial rewards are available to all, and technology has democratized sophisticated criminal activities. Science-fiction scenarios such as hackers controlling a car have been demonstrated in 2016, in parallel with the rise of small-value, large-scale attacks that prey on the human psyche. With uncertainty in the global environment, cyber sabotage and espionage are very real threats. At the same time, security transformation will present new methods of anticipating and responding to attacks in a predictive and proactive manner.
But what does all this mean? It means the industry will move to a more evolved thinking framework where technology will be seen as a tool to create elaborate and compelling user experiences.
The imperative for enterprise is not to stay ahead of the curve, but to build an environment that embraces, nurtures and takes control of technological advances – an ‘always-on’ incubator of progress. After all, to finish with an ever-prescient phrase, change is the only constant.
(About the Author: This article is authored by Mr. Rajesh Janey, President & Managing Director, India Enterprise, Dell EMC)
(Image Credits: Thinkstock)