What customer expectations will local consumers have in 2030? For example, what comparisons will they make with other brand experiences?
2030 sees a whole new landscape for customer expectation and brand experience. Customers want a quick and seamless digital experience, and they want it now.
Thanks to companies such as Amazon and Apple they now expect every organisation to deliver products and services swiftly, with a seamless user experience. This demand is only going to increase in the future.
Customers want to login to their online electricity account and see a real-time report of their consumption. They expect to buy a phone from their telecommunications provider and have it activated and set up immediately out of the box. They want bank loans to be preapproved or approved in minutes. They expect all service providers to have automated access to all the data they provided earlier and not to ask the same questions over and over again. They wonder why a bank needs their salary slips as proof of income when their money is being deposited directly into the bank every month by their employer.
Many traditional (on-island) organisations have substantial work to do to meet these expectations. As a result, those newer businesses born in the digital age can swoop in and disrupt the market through rapid delivery of digital products and services combined with advanced algorithms and full access to information.
Customers are demanding from companies in many industries a radical overhaul of business processes. Intuitive interfaces, around-the-clock availability, real-time fulfilment, personalised treatment, global consistency, and zero errors—this is the world to which customers have become increasingly accustomed. 2030 will see a superior user experience, and companies will also offer more competitive prices because of lower costs, better operational controls, and less risk.
In 2030, what technology that’s emerging now will be common place?
The next decade will be dominated by ever more subtle and personal technology. Artificial Intelligence will become more prevalent in both our work and home lives.
There are a multitude of technologies that are emerging and will form a significant part of the business landscape in 2030:
Computer vision - refers to a family of tools and technologies used to analyse images and video to understand objects and features of objects contained in said images.
Deep learning technologies - is a rapidly evolving machine-learning technology to build, train, and test neural networks that can build probabilistic models to predict outcomes or help identify patterns in data.
Natural language generation - refers to a family of technologies that work together based on a set of rules, templates, and machine learning to generate language in an emergent, real-time fashion — from conversations to reports.
Distributed ledger technology- (blockchain), is a software architecture supporting collaborative processes around a trusted data set that is shared and distributed, using consensus algorithms to maintain data integrity.
Edge computing - is a family of technologies that distribute application data and services to where they can best optimize outcomes in networks of connected assets.
Augmented, virtual, and mixed reality technologies - are helping merge the digital and physical worlds around us, either through an overlay, the ability to introduce digital elements into your surrounding environment, or the creation of virtual worlds.
Additive manufacturing- (3D printing), is an industrial process that allows for the digital design and physical production of components or items with 3D printers.
Quantum computing- is an emerging compute paradigm and very much still in the R&D stage — we’ve yet to see the creation of a true quantum computer, but the technology is one that promises to rapidly increase computing power and efficiency. I envisage this to be present in 2030.