Survive and Thrive: Technology trends for future success
10 years ago the ‘SMAC stack’ emerged as a term within the industry. There was an inflection point with the emergence of Social, Mobile, Analytics and Cloud technologies, offering radical opportunities to drive the ‘digital agenda’. This was set in context of a period of consumerisation of technology and mass adoption of mobile devices providing access to a world of applications and functionality.
The impact of these technologies has been profound. There were winners; those who embraced these technologies to develop new offerings and business models to redefine markets - such as Netflix, Uber and Airbnb. And there were losers, those slow, or who failed, to adapt and have now disappeared or become less relevant – Blockbusters, Kodak et al. Both stories hold lessons for everyone as we face the next wave of challenge and opportunity in technology.
In 2021, we once again see the convergence of technology forces but this time they are even more powerful than SMAC. None of these technologies are new, but their combined power offers radical opportunities for transformation of industries and customer engagement. And clearly, all of this is taking place amid the most profound social, political and economic crisis in recent history.
As businesses look forward, the exploitation of this array of technologies may determine whether they survive and thrive in a world that looks very different.