Soren Kaplan is the bestselling and award-winning author of Leapfrogging and The Invisible Advantage - both provide great insights into effective innovation. In a recent article he shared his view on 10 Disruptive Trends for 2020 and I believe they are not only accurate, but offer opportunities for forward-thinking companies to take advantage of them.
He predicts that 2020 will be especially extra turbulent. Election year dynamics, coupled with an increase in grassroots business activism, and governments taking action on environmental issues, will infuse even greater chaos into our everyday experiences.
Here’s his take on the biggest forces transforming business and society in 2020:
The convergence of the internet of things, data analytics, and artificial intelligence creates new opportunities for “embedded intelligence,” making products, robots, business applications and healthcare diagnostics, “smarter” than ever before.
High-capacity batteries deliver greater amounts of power at dramatically lower costs. This will drive innovation across sectors, but will be especially useful for green energy applications like solar power
From recycling, to alternative bio-based replacements for plastic, the “circular economy” will gain steam, creating new opportunities for companies to help accelerate environmentally sustainable products and packaging.
Battery-powered cars, trucks, and motorcycles will continue to increase in popularity, and mainstream manufacturers, will begin an accelerated march toward a future where self-driving vehicles rule the road.
The proliferation of competing content providers and apps, like Netflix, Amazon Prime Video, Disney+, and Hulu, will continue to contribute to the rapid growth of niche viewing audiences and the accelerated demise of cable television.
Growing concerns of Alexa, Siri, and other voice-based services “listening in” on our lives combined with high-profile data breaches and election year ballot-tampering fears will continue to drive greater privacy laws and controls over personal data.
The rise of digital wallets like Apple Pay and Google Pay, peer-to-peer payment platforms like Venmo, and Facebook’s 2020 launch of its digital currency, Libra, will dramatically accelerate the use of digital commerce between individuals and across business.
From Google’s misleading results format–which obscures the distinction between paid and organic content–to misleading social media advertising, society will grow increasingly weary of big tech’s role in shaping our worldview.
More and more companies recognize that moving fast, being agile, and collaborating across internal boundaries and with outside partners is the only way to compete. Collaboration tools for remote working, turn-key “no code” software for building instantly customizable business processes, and digital infrastructure for all business functions transform organizations.
Unforeseen disruptions are now an inherent part of life, instilling the need for “responsive strategy” – the continuous process of trend scanning, scenario planning, and trial-and-error testing of business models based on the disruptive trends occurring in the external world.
What can you do prepare for disruption or leverage it to your advantage? Let us facilitate an innovation strategy session with your team that will roadmap a solid course of action. Contact me to learn more.