Innovfest Unbound: key things to know
I had the opportunity to attend this year’s Innovfest Unbound, an annual conference which brings together innovators, entrepreneurs, corporates and start-ups to exchange insights, discuss trends and celebrate innovative developments.
Among the many discussions that took place, there were several topics which I thought were worth highlighting not least because they will impact the way we live but because they will shape people’s behaviour and preference, and how we, as communicators will engage them.
The internet of things (IoT), 5g, block chain, AI, robotics and many more. The technology tsunami has begun, and the waves of change are not going to stop. AI will make up 40% of the digital change and our digital footprint will be wider and deeper than ever, likely jumping from 6% to 60%, as we consume and engage more with online content. The hyper connected nature of our world has already impacted companies, but the challenge has been and will continue to be, how do companies respond to changes that have been happening at breakneck speed?
Hyper relevant and purposeful customer experience
The experience economy is going stronger than ever. But what makes experience challenging nowadays are customers’ expectations. Companies previously delivered experiences based on functional values but today, there is widespread expectations for businesses to deliver heightened experiences to their customers. The definition of “heightened” has evolved now that we live in a digitally savvy, “woke” world. Businesses can no longer be complacent about societal issues – they need to deliver based on their corporate values and be catalysts of change. Studies prove that consumers prefer to purchase products and services from companies that stand for a purpose that reflects their own values and beliefs and will avoid companies that don't.
The future of transportation: from automation to autonomy
Airplanes are the next all-electric vehicles. And pilotless planes might arrive sooner than we think. Though self-driving cars are already available, the future of transportation is fascinating yet frightening to most of us who prefer a human touch in our travel experience. Autonomy on commercial aviation will take years to manifest but if it did, how do you convince consumers to fly in a self-flying commercial flight? Would the prospect of cheaper tickets be enough?
The mainstreaming of genetic testing
We have reached the inflection point of genetic testing. From being expensive, it has now become affordable, making it more accessible to regular consumers. Genetic testing companies like 23andMe have also shifted their marketing from ancestry to health and wellness, which means that genetics will increasingly play a bigger role in health management. In fact, the United States’ Internal Revenue Service just recently approved tax breaks for buyers of 23andMe genetic tests, counting these as part of medical care. Retail, consumer and even telecommunication companies have also jumped on the genetic tests bandwagon signalling the unstoppable growth of this industry.
At Spurwing, we are always energised by trends, innovations and transformations. Please reach out to us via firstname.lastname@example.org if you need help navigating through the challenges of communications in a rapidly changing world.