2019 Foresight — Technology Trends Shaping Business and Society
- June 04, 2019
Think about it. For the past few decades the intersection of societal advancement and business innovation has been technology. Many of the gains we have made as a society are directly attributable to the development of technology that makes it easier to communicate, improve our well-being and transact business. At NTT DATA, business innovation and societal advancement are inextricably linked. That’s why, every year, NTT DATA publishes a well-researched list of trends related to the relationship between digital technology, society and business innovation.
The digitization of society is both transformational and generative, in that as technology transforms, it generates new rules of governance, new levels of acceptance and an evergreen list of possibilities. The preface to the NTT DATA Technology Foresight Report states, “The constant innovation in technology will continue to drive social structures toward the future, transforming existing business models and bringing them to new levels.”
Every business innovation begins with an informed decision. Now, more than ever, business leaders are called on to interpret the vast amounts of data they have at their disposal to take those critical steps into the future of their business. Kris Fitzgerald, Chief Technology Officer, NTT DATA Services views the importance of innovation this way: “While storage capacities and processing power are growing by leaps and bounds, IT infrastructure still has its limits. A flood of IoT data has the power to overwhelm a company’s resources, demanding they either pull the plug or make significant new IT investments. We feel the future of data and innovation isn’t necessarily “smart everything” – it’s being smart where it counts the most.”
Societal trends impacting people and businesses
At NTT DATA, we continually investigate advanced technologies and social trends that we believe will impact businesses over the next three to ten years. Here are the four societal trends we see as impacting both people and business:
Innovation Beyond Borders — A new information power balance goes beyond digital and physical realms, changing the social framework.
Power of the Individual — Information owned by individuals becomes the basis for creating new value; forming the foundation for continuous growth of both companies and society.
Social Impact of Technology —To prevent the imbalance between those who can access and use technology and those who cannot, people must change their behavior to coexist with technologies.
Sustainable Society —Collective business strategies together with digital transformation will encourage the expansion of global opportunities and resolve uneven resource allocations. A more sustainable society and business environment will be created.
Technology trends spearheading development of an information society
When it comes to IT modernization, the center of every business decision lies in the digital transformation journey of an organization. We are in constant conversations with our clients to help guide that journey in the most beneficial way.
Eric Clark, Chief Digital Officer, NTT DATA Services says, “Digital is about leveraging technology to create new forms of value. As a result, our clients can adapt to the changes in their market much more quickly. Changes to systems that used to take months or even years can now happen daily. We are constantly innovating together, leveraging the global NTT and all of the innovation that goes on around our company to bring ideas, proof of concepts, and proof of values to our clients every day.”
Here are the eight technology trends we see advancing the development an informed society:
Socially Accepted AI — As AI continues to permeate society, practical issues are emerging. Ensuring transparency will create more socially accepted AI, accelerating its integration into society.
Usable Augmented Data — Data quality dictates business success, but that data must be accurate and usable. The development of technologies that generate and refine data will expand the possibilities of its use.
Digital Life Science — Today, monitoring devices enable diagnosis and change the way people access medical care. In the future, IT involvement in genetic and cerebral disorders will initiate research and extend life.
Natural Interaction — As machines learn to communicate more naturally, they will provide people with new insight and assist human thinking.
Spatial Computing — Generated environments with augmented information will become an entirely new medium, transforming business and individual perception.
Quantum Leap in IT Infrastructure — The demands for accelerating system processing continues. In a recent whitepaper on IT Modernization in Government, Shamlan Siddiqi, CTO of Public Sector for NTT DATA Services has stated, “Treating data as a strategic asset and securing it with the same rigor, will be key to an agency’s ability to grow.” Likewise, the ability to select a high-speed infrastructure that enhances performance is now a requirement for businesses.
Personal Data for the Digital Era —While personal data is becoming a security focal point, its value mandates active use. Balancing the utilization and protection of personal data has become a prerequisite for economic development.
Service Design Innovation — A design process that fosters services via continuous improvement builds a foundation for corporate competitiveness. Successful businesses use the flexibility of IT to take advantage of change through service design.