The new revolution
Blockchain, customer centricity, experience design, and so much more - technology is turning the world around. We are growing to unknown directions, and the sky is not even the limit anymore. We are living the 4th industrial revolution. These changes are the ones reflecting in all our lives. In the smartphone that we use, in the ads that we see, in the way we go about our day-to-day business. All of these areas were or could be affected by tech. This article is here to discover with you the ingredients of the new evolution we are living.
What is the 4th industrial revolution?
During the history of mankind we can think of several times when new technologies put a revolutionary spin on the world.
Think about the first industrial revolution- we discovered the power of steam, and started mechanizing processes, making machines do the work traditionally performed by humans. Then we discovered electricity, and realized we can make machines go better, faster and more diverse. With automation production became less reliant on humans, so we could produce even more.
A new era is upon us. There are plenty of aspects which make the world shake up and evolve differently. So let's see the recipe of the 4th industrial revolution!
The revolution shake
1 liter innovation (push or pull to your liking)
Innovation can happen from 2 sides. We can see innovation, when a customer need arises first, and we consciously search for the appropriate technology to fulfill this need. We call this pull innovation. Push innovation on the other hand, is when the new technology is present first, and we try to find ways to fit it in customer needs.
¾ cup globalization
The internet made the world shrink. We can access anyone anywhere real time, ship globally, make business anywhere. Companies are growing huge exploiting these new possibilities on global markets (did you think of Amazon? Me too!). Even more, startups are growing, ready to monetize on a niche market, with a new trend or tech, and are not stopped by the 90% failure rate. We have a fierce competition, not restricted by territory or time anymore.
1 pound of elevated customer needs
Customers want more- they want an experience, they want trust and faith in a brand, they want to be appreciated, and have personalized service.
Mass production is over. The new need is diversity, and knowing exactly what each of our customers want.
You need to focus on customer needs. This is the essential ingredient of your shake. It is the only way for long term success. Study, analyze, serve your clients. (To know more about this read my articles on Customer Centricity why and who AND what and how)
6+ pieces of new tech (according to taste)
- Iot - connected any and all devices to the internet
- AI - Artificial Intelligence makes machines smarter
- Blockchain - trusted shared ledger for business transactions
- 3d printing - create any object from one device
- VR and AR - virtual and augmented reality changes what we see in the world
- Power of data- the amount of data is higher than ever- using this data makes significantly better business decisions
- and plenty more!
1 pinch sustainability
Pollution, greenhouse gases, decreasing finite resources. This is the reality we live now. We have piles of trash in our oceans, smog in almost all major cities, rising sea levels. Businesses have social responsibilities- to find solutions which are environmentally friendly and help to care for our planet.
Glaze with privacy and security
Stop and think how much of your information is free-willingly on the internet- the pictures from your vacation, your relationship, place where you live, and we could go on for long. Besides the things you put there, now think of all the things protected on a website, or on your computer- probably your bank account, maybe your ID, your contacts. Similarly, companies, governments are moving plenty of their crucial infrastructure online, and on different devices. Cybercrime is on the rise, unfortunately the number of data breaches and malicious attacks is rising (think of myFitnessPal, Adidas, and more here). Technology and new solutions need to keep in mind the need for protecting us, our information and the service that they do. We need to move forward with care, and make sure to integrate this concept from the very beginning in our product or service.
Now put everything together, mix well and enjoy with care!
These are the main ingredients of the 4th industrial revolution as I see it. Of course, such an immense change is hard to describe in under 1000 words. If you have questions, feedback, observations, feel free to comment, or contact me directly!