“Being successful in the digital economy requires a transformation that goes beyond embracing emerging technologies,” A design mindset that applies new technologies and agile processes to transform experiences while maintaining privacy and security. With the pace of change accelerating, leaders need to openly embrace evolving technologies and remain willing to rapidly iterate and experiment. Traditional business methods that worked a decade ago, are no longer effective when applied in today’s agile digital environment.”
1. Crossing the next AI frontier
The release of open source DRL libraries last year is set to spur the development of commercial applications for AI. As a result, deep reinforcement learning (DRL), a powerful machine learning tool, will move out of research institutes and into the world of business.
2. Collaborative Intelligence
What if machines could learn from machines, not just humans? This seemingly far-fetched prospect is now becoming a reality. Collaborative intelligence imagines a world of multi-machine-human exponential learning, fuelled by recent breakthroughs in AI.
3. Open banking adolescence
2020 is the year when banks and financial institutions start to take the opportunities around Open Banking seriously. A key regulation will be laid down in September, which will mark the beginning of a new era in banking in Europe. Core tenets include interoperability, openness, customer-centricity and innovation.
4. Finnovation for the developing world
Financial inclusion is about to move into the next phase. The developing world’s new digital payment rails has enabled millions to gain access to the formal economy for the first time. Regulators, FinTechs, challenger banks, and traditional banks have an opportunity to create the products and services to ride on top of those rails and transform whole communities in the process.
5. Crypto Coming Of Age
Until blue-chip financial giants help to establish the financial infrastructure for crypto-markets, institutional investor participation will remain weak. This year, the world’s biggest banks and financial bodies are starting to build those structures, sending a strong signal to market participants and heralding a shift to a higher level of cryptocurrency activity.
6. Making our data safe again
Many organizations are [gathering] up large amounts of personal data to “hack the minds” of their consumers or sell on their insights to third parties. By the same token, businesses themselves are becoming prime targets for cyber-attacks. In 2020, we expect to see decentralized digital identity products start to gain market traction, giving back control to individuals and organizations.
7. Never disconnected
5G will deliver the internet at light-speed. Whilst not expected to replace 4G until 2020, marquee firms are already launching 5G smartphones this year. Significantly, this communication protocol is an enabling technology that will accelerate progress with other exponential technologies like AI and IoT.
8. Interlopers in the boardroom
Design is starting to play a strategic role within digital transformation programs. Companies have witnessed the innovations that have arisen from big tech’s design-led culture and are now taking stock. They’ve also absorbed the fruits of the design thinking movement, the spate of CDO appointments, and consulting firms’ discourse on the centrality of design to successful digital transformations. This year, design will be on the boardroom agenda.
9. Health data you can trust
Health data management is struggling to keep costs down, remain up-to-date, and support patient needs. The Synaptic Health Alliance, a consortium of leading healthcare organizations, is applying blockchain to improve provider data management. This will be a key test in the uptake of blockchain solutions for the sector.
10. Omniscient Healthcare
The connected health market is rapidly transforming. Invisibles, a non-invasive wireless device, is causing waves with its ability to analyze the reams of data that your body transmits in the comfort of your own home. Be it wearables, telemedicine platforms, apps or other digital healthcare services, the connected health ecosystem is maturing rapidly and will have a much bigger impact in 2020.2019