Every year Aricent produces a Technology Vision that showcases the top product design and engineering trends that impact our clients. The report provides a unique perspective on where the industry is headed and how design-integrated engineering is becoming crucial to meet customer expectations. This year's Tech Vision theme is Competing on Speed: Bringing Intelligence into the Customer Experience.
As the pace of technology change accelerates, so do customer expectations. The companies best positioned to succeed are the ones that bring intelligence to the customer experience.
There was a time when we just wanted a product to work. The user interface was expected to be clunky and frustrating. People expected a tiresome conversation with customer support. And customers expected that trouble shooting a problem would be complex and time-consuming. That’s a bygone era.
Today, people drive change. They demand products that understand them, anticipate their needs and above all improve their lives. Technology change and heightened expectations are intertwined and self-reinforcing. Once someone experiences something new that excites them, it becomes the standard for everything that follows. The bar is raised for all other products they interact with.
There is an urgency for established companies in all industries to up their game. According to a McKinsey report, digital disruption is shaving 45% off the revenue growth of incumbent industrial companies and 35% off their earnings. As the digital economy accelerates, the brands and companies that can harness the power of the new technology waves will win.
Artificial intelligence in all its manifestations is perhaps the most profound and transformational technology. It is a significant source of value creation in product design and engineering. New services and experiences will defy convention. New ways of developing products will raise productivity. For companies, that means working backward, with people in mind, to solve a problem. It also means engineering machine-learning products that can scale.
So the race is on for companies to anticipate needs and exceed expectations. To see beyond today and define the future. In this year’s Tech Vision, we take a look at the strategies and technologies that are at the forefront of product development, helping companies stay ahead. Combined, these trends are the basis for creating revolutionary products that learn what their customers want before they know themselves.
1. Energize The Core: Focus on what matters most
To achieve sustainable growth, companies must strike a balance between stability and dynamism. That means keeping the core products-the ones responsible for generating the lion’s share of revenue and profit-relevant and refreshed. At the same time, companies need to invest R&D dollars into future products and services that will eventually replace the core.
2. Digital Services Supercycle: Generate predictable growth from platforms
Just selling a product doesn’t cut it anymore. Every company is anxiously searching for innovative ways to hitch their future to data, which is the medium for revolutionary product designs and digital services. The new imperative becomes purposely organizing to empower a new wave of digital developers and keeping pace with platforms that are permanently on the move.
3. AI Stimulus: Optimal is the new functional
Artificial intelligence will soon be at the core of just about every product and service. AI can infinitely personalize every interaction, and learning algorithms can deliver outcomes that are favorable to business. Products can function optimally, but only if AI is applied thoughtfully in a domain. The question business and technology leaders must ask is: What is the problem we are trying to solve with AI?
4. Frictionless Design: Effortless and surprising experiences
Customers change brands because of friction. This happens for any number of reasons-mismatched expectations, products that are difficult to operate, slow response time. Good design eliminates friction, opening up possibilities for more natural interactions that disrupt the competition. Designing for security plays an important role too, by creating trust and instilling confidence that goes beyond what the user expects.
We encourage you to read the Aricent Technology Vision 2017 and reflect on the implications of these trends for your company’s offerings and strategic direction and, most importantly, for your company’s ability to deliver exceptional experiences to your customers.
Click here to download the Aricent Technology Vision 2017 white paper.