Looking To 2021: The Future Is There For The Making

Everledger CEO Leanne Kemp reads the tea leaves for the technology sector in 2021. From shared value creation to Web3, blockchain to quantum computing, there’s plenty to look forward to.

Niels Bohr, a Nobel laureate in Physics, once said: “Prediction is very difficult, especially if it’s about the future.” As 2020 proves, he had a good point. Since March, the technology sector has advanced more than it has in the last decade, with every new step accelerating into a mass sprint forward. These are hold-on-to-your-hat times. 

Yet, while the root causes of the disruption were unexpected, the potential for rapid digital transformation has built over several years. For example, the revolution in distributed workforces and e-commerce was already well underway. 

In that spirit, here are some current trends that are likely to gather momentum in 2021. 

1. “Commitment is what will transform a promise into reality”

Abraham Lincoln was big on commitment, so he might have enjoyed the move towards Shared Values Platforms (SVP), which bind organisations together to tackle today's environmental and social challenges. (The alternative is New Growth Platforms – individual initiatives that companies use to accelerate their revenue growth.) In line with the 'Davos Manifesto' in 2020 for a better kind of capitalism, a new measure of shared value creation should include environmental, social, and governance (ESG) goals as a complement to standard financial metrics. Yes, it’s important that all businesses maintain their entrepreneurial drive, but we must all recognize we’re part of a bigger, shared future. Those that grasp that notion quickest will be best set to prosper as the rules of engagement change. 

2. CDP & Web3 brands to take off with embedded Consumer Consciousness

Customer Data Platforms (CDP) have built up a head of steam in recent months in response to the growing challenge of organizing fragmented data from multiple sources. Companies that rely on timely, well-curated data are drawn towards sophisticated governance systems where all stakeholders have a voice. The concept of decentralization has already gained traction in collaborative sectors like the gaming industry, while a major fashion house is using blockchain to give creative collaborators greater freedom of expression. The rise of Web3 brands, and its social movement, will enable a decentralized internet where content and value can easily be shared.

3. AI and Blockchain will be at the heart of e-commerce and community

Blockchain technology will kick on again in 2021, due to its ability to handle nearly every touchpoint along the e-commerce experience, whether payments, browsing, supply chain traceability, proof-of-origin and proof-of-ownership certification, loyalty schemes, testimonials, data security, end-of-life traceability, and after-sale customer care. The proliferation of AI will also reach deeper into our everyday lives, from what we buy to what we eat, to how we move, relax and communicate. Both AI and blockchain will require extensive monitoring to ensure that data, especially, is managed in an ethical way – with close collaboration necessary between government and industry. But the pace is only going to pick up in 2021, as resources become less expensive and more accessible globally.

4. Quantum computing and global good

Quantum computing and ‘qubits’ may sound like something out of Harry Potter, but they’re going to be the buzzwords of the near future. Quantum has the power to process calculations that are far beyond the reach of classical computing, with the smarts to rapidly query, monitor, analyze, and act on data at scale, from any source and at any time. These super-crunchers may have already played a role in managing the spread of the COVID-19 disease, and the development of therapeutics and vaccines. As word spreads, different industries will recognize possible use cases that they have never managed to solve before. Could Quantum provide the answers to the world’s most pressing challenges such as climate change and food security? 

5. Trust will be this year’s must-have…

In 2021, more businesses and consumers will ask for certifications of authenticity in their e-commerce purchases, especially for high-value items or products that require certification (PPE with the right quality is a case in point). At the same time, trust marks for authenticity will increasingly exist natively in popular e-commerce platforms (e.g. plug-ins of certificates and third-party verifications). The concept of "networked trust" will gain traction: i.e. that truthfulness and accuracy of information are best converged from multiple independent sources. A.I. and machine learning will significantly improve anti-counterfeit and fraud detection capabilities, especially in e-commerce.

6. … and provenance technology will become ever more sophisticated 

This surge in trust-lust will come from customer demand – and the transparency sector will respond. For example, apparel brands will be expected to account for the ethics and sustainability in their supply chain. Advanced API will allow brands to incorporate provenance into their own products, irrespective of asset-class, and embrace decentralized identifiers for digital assets, using blockchain technology. This will make interaction with transparency platforms much smoother and easier. Sensor-driven authentication layers, using AI-driven checks at scale, will create more draw for users to connect with each other. In addition, investments in the data-pipeline and configurable schemas in 2020 will help to better map and organize entire industries around provenance. 

Take action (not a back seat)

The New Year is traditionally a time for gut feels. Should we be optimistic for the post-crisis era, whatever form it takes? Or will 2021 make 2020 sound like warm-up act? Personally, I’m going to resist these temptations. If you’re too optimistic, you trust in providence rather than your own instincts. If you’re too pessimistic, why bother trying in the first place? 

The Brazilian philosopher Roberto Unger once wrote: “Hope is more the consequence of action than its cause. As the experience of the spectator favours fatalism, so the experience of the agent produces hope.”

In Australian, that means: Don’t sit there gawping. Roll up your sleeves and go make it happen!

Here’s to a prosperous 2021, one and all.