5 March 2009

Pinto's Point

Top 10 trends in the new economy

By Jim Pinto

While the current financial decline continues to take its toll, it is important to watch the new trends that are starting to shape the future economy. Through the insights that this provides, we can re-structure and develop change in our own business, not just to survive, but to thrive.

Here are 10 important emerging trends:

1. New media is breaking down traditional big media, giving voice to millions of individuals and unleashing new talent and creativity. Related to this, viral video and new media channels such as blogs offer businesses a radical new way to bring their messages to the market, changing distribution just as profoundly as the Internet redefined the brochure.
2. Virtual and physical realities are blending to form a new reality. In this augmented reality, work will seem more like a game, workplace experimentation will increase, and super-collaborative skills will become paramount in the workforce.
3. Social power is enabling businesses to solve problems faster and more effectively using corporate social networks to find people and expertise quickly.
4. Information transparency is unleashing new applications and innovations that bring deeper visibility to transactions, processes, people, and assets. Such transparency enables a business to gather, integrate, and analyze information from disparate sources.
5. The Internet is making traditional TV and AM/FM radio obsolete. Software defined and cognitive radio will enable new devices that can negotiate the airwaves on the fly as needed.
6. 3D printing will enable anyone to print out toys, parts, designs, and more from the web. Old style prototype design and production is obsolescent.
7. Molecular computing will lead to breakthroughs in biomedicine: Researchers have already developed a molecular computer that uses enzymes to perform calculations from within the human body. Biofuels will be produced biologically.
8. Cloud computing is replacing the world’s data centers. This concept incorporates platform as a service (PaaS), software as a service (SaaS), Web 2.0 and other technology trends that have the common theme of reliance on the Internet for satisfying the computing needs of the users.
9. Semantics will make information more meaningful (digitally), make applications more interoperable, and offer innovative ways for businesses to expand their services to the world.
10. The web will evolve toward a reasoning engine, making decisions for us, as well as predictions and recommendations, that enhance our own decision-making.

Technology acceleration is causing many old habits to become a burden. In the new business environment, it is important to review effectiveness (not just efficiency) of old methodologies and procedures.

Related Links:

• Emerging wave of disruptive technologies that will reshape business:
  http://www.csc.com/newsandevents/news/15409.shtml
• Report – Digital Disruptions:
  http://www.csc.com/aboutus/leadingedgeforum/knowledgelibrary/uploads/LEF_2008DigitalDisruptions.pdf
• Book: The Innovators Guide to Growth:
  http://www.amazon.com/exec/obidos/ASIN/1591398460/jimpintocom/103-0805027-7623017

Behind the byline

Jim Pinto is an industry analyst and founder of Action Instruments. You can e-mail him at jim@jimpinto.com or view his writings at www.JimPinto.com. Read the Table of Contents of his book, Pinto’s Points, at www.jimpinto.com/writings/points.html.