Zone’s Mark Sylvester handpicks and shares the five best news stories on digital trends, experiences and technologies…
1. The cost of checking out before the checkout
As technology strives to make our lives more seamless, the bar below which we become frustrated is ever lower. This is rarely more evident than in online retail, where more than half of UK shoppers have ditched a purchase before checkoutbecause of a poor experience.
And that means £656m in lost revenue for brands, according to research by open banking platform Yapily. So, is it time companies rethink their online sales and give consumers the simplicity and convenience they crave? Spoiler alert, the answer is probably yes.
2. The robots are coming — but what does it mean?
For decades, a sci-fi dream was a world of robots doing tedious tasks for humans and freeing us up for endless fun. But while the UK Government goes into overdrive to encourage investment in artificial intelligence (AI), and evermore sophisticated generative AI appears, it’s clear it’s not just dogsbody work they’re after.
With AI picking up the reins of everything from GPS technology to creative writing, investment bank Goldman Sachs estimates it could ultimately replace up to 300 million jobs in the US and UK. So, is AI putting us all out of work or opening better careers?
3. Closing the gender equity gap (with AI’s help)
Proving that the topic of AI is incredibly complex, one former Global 500 executive is using it to help workplaces become more inclusive and equal. The gender equity gap in technology is a rightfully hot topic, with 96% of CEOs putting it at the top of their wish list but only 22% of employees experiencing change, according to a 2022 survey.
But now, gender economist Katica Roy’s SaaS firm Pipeline Equity uses AI and cloud computing to turn gender commitments into daily actions. And with estimates that gender equity could add $12 trillion to global GDP, doing the right thing could as well be a profitable exercise.
4. Privacy first could be a competitive advantage
With Governments worldwide cracking down on privacy laws, leading management consultants Gartner believe that it could actually be a blessing in disguise. According to the company, those organisations that develop the most effective privacy programmes can help build trust and confidence with customers, partners, and authorities while avoiding damaging censure.
Aligning privacy programmes with business targets could mean tighter controls push the most forward-thinking firms to use data better. Playing by the rules can be profitable too.
5. Why we must bank on people
Silicon Valley sits on one of the world’s big fault lines, which seems apt considering the shock waves caused by the collapse of the Silicon Valley Bank. Zone’s Lead Business Designer, Tripti Gawankar, explains why mistakes that should have been a short stroll into liquidity concerns almost turned into a full-scale run on the bank as word-of-mouth worries went viral.
As Gawankar points out, in a world of digital, data, robots and metaverses, almost every product and service has an end user that’s made of flesh and blood. We really aren’t just numbers on a spreadsheet, and the sooner risk management understands that, the better.