Technology make impossible, possible
The reinvention of industries is being accelerated by advancements in technology such as edge computing, 5G, the Internet of Things (IoT), blockchain, cloud computing, mobile technology, analytics, and artificial intelligence (AI). Initially, traditional companies adopt these technologies to become tech-driven. Later, they embark on reinvention through collaborative efforts between entities from different industries to create innovative offerings that disrupt traditional business models. For instance, a partnership between a convenience store chain like FamilyMart and an analytics company could result in the creation of new service offerings, such as providing loans to customers with good financial records. Similarly, a fintech company could leverage an online analytics platform to analyze data from wearable devices and smartphones, leading to the development of a new company like
Blockchain
Social
Ommichannels Experiences
Retail
Creating a combination of functionality of several different apps into one convenient package.
Mobile
AI
Making healthcare more accessible, convenient, and affordable for customers in the communities it serve. Health & Wellness
Financial Services
Analytic
Edge Computing
Fintech
Using online analytics platform to analyze data from wearable and smartphones to lower user’s insurance premiums
AR/VR
Cloud
Healthcare
HealthTech
FitSense, which offers personalized insurance premiums based on users' health and lifestyle data. These examples showcase how
industry reinvention involves the convergence of technologies and expertise from diverse sectors to create novel solutions that address
evolving market demands.
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