What do you think are some of the biggest tech trends that will shape the next 5-10 years? Can you please give some examples and briefly describe why you think they will be important?
1. Data analytics to make artificial intelligence a reality
Over the past few years we have seen the rapid development of digital technologies across big data. As machine-learning solutions become more advanced, 2015 has the potential to be a breakthrough year for predicative analytics and big data. We’re seeing global leadership in the UK in cities like Edinburgh, Bristol, Leeds and Cambridge.
By combining cognitive skills with analytical tools, we can now analyse large amounts of data in context and in real-time. From social data from the likes of DataSift to predictable keyboard functionalities from the likes of Future Fifty company SwiftKey, there are fundamental changes afoot in the way businesses are making strategic decisions and individuals are making consumer choices. With a strong expertise in big data and artificial intelligence, and the recent announcement of the establishment of the Alan Turing Institute, the UK has the potential to lead the way in this exciting field.
2. Rise of the Sharing Economy
The sharing economy is one of the most exciting markets to have emerged from the growth of Britain’s digital economy. From travel to pet ownership — it is reaching into many aspects of our lives. PwC has calculated that on a global basis, the sharing economy is set to rise to £230bn by 2025, from £9bn today.
In the sharing economy, networks become more dynamic than centralised systems. And reputation becomes a powerful new asset. But this doesn’t just have potential value in social currency; the sharing economy should also be seen as a huge opportunity for the UK economy. Companies like Airbnb and Liftshare are breaking the mould and I’m very excited to see what’s next.