This is the fifth blog of the 2020 Visions series from Ovato.
“Fortune favours the bold”, or so goes the Latin proverb first put to paper in The Aeneid, sometime between 29 and 19 BC.
While a neat turn of phrase is always a delight to the ear, it’s rare for one to so beautifully invoke a thought or belief.
In four simple words, Virgil captured the feeling that if you’re willing to take a risk, then results will fall your way. Doing nothing simply ensures immobility and inflexibility.
In 2020, we all need to think big, to take the shot, to be bold, because there’s plenty of opportunity coming our way. Here’s why.
The world is constantly changing, and technology is one of the chief drivers of this evolution.
That’s not going to change in 2020, and any business that isn’t willing to adapt to the times will be left lagging.
Communications technology like 5G will continue to develop. Telstra and Optus have already started 5G testing in some areas and intend to expand their networks further. Meanwhile, Australia’s third major mobile provider, Vodafone, should have its 5G network started sometime in the next year. The estimated download speeds of 5G could be anywhere from 4 to 20GB/s, a vast improvement over the existing 4G network. Imagine the possibilities for remote health, gaming, and the Internet of Things (IoT). Think of all the ways it will supercharge our lives. Business. Work. Entertainment. It’s endless, and hugely exciting for businesses able to take advantage of it.
You’ve probably heard of blockchain, but it’s entirely possible you don’t know it is. Well, blockchain is a secure – thanks to encryption and decentralisation - digital ledger used to record transactions. And in a time where it seems that banks and websites are disclosing data breaches on an unbelievable scale, blockchain presents a quantum leap forward regarding security, reliability and trust.
That’s because the computers in a blockchain network have their own copy of the blockchain. While each copy of the blockchain is identical, the fact that there are many of them makes the information contained in the blockchain hard to change. There isn’t a single, definitive chunk of data that can be hacked – there are potentially millions.
When Deloitte ran its 2019 Global Blockchain Survey it found that “more organizations in more sectors—such as technology, media, telecommunications, life sciences and health care, and government—are expanding and diversifying their blockchain initiatives.”
The purpose of the blockchain is to allow information to be recorded and sent to where it needs to go, but not for it to be edited. Imagine not having to worry about personal data – your own and your customers - being hacked or stolen?
Have you used an Alexa, Siri or Google Assistant recently? Then you’re one of the 57 per cent of Australians that use voice search on their phones or smart speakers. And they’re only becoming more popular, with up to 50 per cent of all search queries expected to be made via voice in 2020.
Customers are using voice search to make purchases, to ask what the weather is going to be like, to play music or to ask any number of questions.
In 2020, voice commands and voice assistants will improve as AI, voice processing and machine learning continue to evolve, blurring the line between humans and technology. Consider the uses for an “always-on” voice search that responds with astounding speed, understanding you with more clarity and answering your questions and requests with startling accuracy. The rise of the genuine virtual assistant is not far away.
If your business hasn’t optimised its site for voice search, you aren’t alone. But you’ll want to get on top of it to ride the wave that’s going to continue through 2020.
According to Steven Pinker, “life, health, prosperity, safety, peace, knowledge, and happiness are on the rise, not just in the West, but worldwide.” It might not always feel like it, but we live in an age where we are undoubtedly as well off and happy as we’ve ever been.
Access to transformative technologies has driven much of this change, and it’s up to businesses to stay ahead of the curve, adopting game-breaking innovations and using them in winning ways to deliver value to their customers.
There’s every reason for optimism. 2020 is going to be a transformative and amazing year for brands. What do you think is the biggest change coming our way?
You can view the rest of our 2020 Vision series here, or get in touch to find out how we can help you make the most of your marketing efforts next year.