Digital Trends: The Future Presented by: Melita Francis Friday 1 st September 2017 www.melita.digital 1
Global Digital Snapshot Jan 2017 Key statistical indicators for the wold’s internet, mobile and social media users Total Internet Active Social Unique Unique Population Users Media Users Mobile Users Mobile Users 7.476 3.773 2.789 4.917 2.549 Billion Billion Billion Billion Billion Urbanisation: Penetration: Penetration: Penetration: Penetration: 54% 50% 37% 66% 34% Source: Hootsuite, We are Social
Mobile Connectivity by Region Jan 2017 The number of mobile connections compared to population 139% 105% East Europe 123% North America 100% West Europe 99% East Asia Central Asia 127% Middle East 91% 133% Central America East Europe 81% Africa 115% 108% South America Oceania Global Average 100% Source: Hootsuite, We are Social
Australian Trends June On Avg. Twitter 2017 67% prefer to access users follow social media via an app 118 accounts Australians spend 71 hours per person Approximately 86% online per month of Australians 14+ have a smart phone 24M 1.1M businesses on social media. people 14.5m Australians 48% use social daily online on their 46% first up in the AM 20.1M are online phone daily More than 15.7M Australian Individuals have on YouTube users each month. Over average 25 apps on 10.4M are streaming over 12 hrs their smartphones 56 min monthly per person 32.11% of 50+ demo online Over 18.7M Australian’s 23.58% of 35-49 demo online use Google & over 17.76% of 25-34 demo online 70% of ppl use 16M use Facebook smartphones to 11.25% 18-24 demo online access social media 15.31% 2-17 demo online Source: Nielsen Online Landscape, May – June , 2017
Brick & Mortar stores are shutting at a record pace… Australia’s top online retailers according to AC Nielsen 2016 data www.melita.digital
Trends Internet of Things Robots & AI Freelance Workforce
Internet of Things (IoT) www.melita.digital 7
When connecting the physical world to the internet, everything on our planet becomes: www.melita.digital
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10 Internet of Things The Internet of Things is not a futuristic, aspirational technology trend. It’s here today in the devices, sensors, infrastructure and business intelligence tools you are already using. AUTOMATION INSIGHTS smart office & warehouses more effective consumer data Automated inventory tracking based insights = smarter Speed & productivity investment decisions All this IOT produces big data
The Future - 2032? Each person to be surrounded by 3,000 to 5,000 connected everyday things! The more data collected the more insight www.melita.digital
Who is doing it already? Rio Tinto Vodafone Mine robots & driver-less vehicles TOBi – the artificial intelligence (AI) chatbot.
So many devices, so much data. Where does this take us? AI Artificial intelligence is the future. Artificial intelligence is science fiction. Artificial intelligence is already a part of our everyday lives. All those statements are true; it just depends on what flavour of AI you are referring to.
AI is not a single type of technology. It takes many forms and encompasses many, many uses. machine learning (MI) deep learning (DL) cognitive analytics (CA) robotics process automation (RPA) bots Collectively, these and other tools constitute machine intelligence! www.melita.digital
3 KEY Factors Driving the rise in MI for Business Smarter Algorithms 44 zettabytes MI is steadily creeping towards human By thought processes 2020 Algorithms (48 trillion Gigabytes) Computing Data Exponential data growth Companies are Processing Power generating vast quantities of data, doubling every 12 Increased computing ability months generates real-time reaction to incoming data streams
The Rise of MI IT Spend IBM estimates that Decision Support will create Cognitive $2 trillion worth of IT spending by 2025. 2025 Opportunity CFO.com estimates 40% of online transactions will be handled via an AI-enabled bot by 2020. ~$2 Trillion Data processing of speech and text will enable Decision Support reason, talk, decisions and learning. ~$1.2 Trillion deepPiXEL provides AI solutions focused on text- based conversations for businesses in finance, Current Productivity retail and telecom. Traditional 2016 IT Spend Source : IBM
The Rise of Deep Learning 1950’s 1960’s 1970’s 1980’s 1990’s 2000’s 2010’s Since an early flush of optimism in the 1950s, smaller subsets of artificial intelligence – first machine learning, then deep learning, a subset of machine learning – have created ever larger disruptions. Source: nVidia
Why Should We Care? D . JP Morgan is using Facebook has moved Deloitte’s Global CIO survey AI to automate heavily into AI, AR, finance calls MI to receive 64% of productivity and VR at the annual Telecoms are total investments. Retail is being F8 conference cutting cost with eaten by giants AI chatbots investing in AI The Era of Mobile internet investment is over. Baidu is heavily investing in AI All of the Tech Giants heavily investing in machine learning, computer vision, natural language, robotics, and advanced analytics.
Why Should We Care? Companies like Google, Baidu, IBM, Facebook, Uber and Amazon compete to be on the forefront of the AI revolution. But if your focus is not on technology, it is almost impossible to compete with these giants. The question becomes: how do I stay competitive?
How Companies Around the World Use AI www.melita.digital
51% of AI leaders predict that by 2020, AI will have its biggest impact on their back office functions - IT, HR, Finance and Accounting. AI technology will free up employees’ time to focus on deeper work rather than focusing on automatable tasks like password resets and company policy related questions. 21 www.melita.digital
How are Businesses benefiting from MI today? Brands/Retail Telecoms Banking Organizational • Order placement • Account Balance • Staff Communications • Transaction Lookup • Transaction Lookup • Product Answer Bots • Order Tracking • Budget Reminders • IT Process Workflows • Brand Questions • Fraud Notifications • Employee FAQs • Cashless Payment • P2P Payments • Staff Training • Marketing Campaigns • Marketing Campaigns • Password Resets • Server/Laptop Deployments
MI can improve the customer experience, augment performance, automate work processes and action repetitive business processes . JPMorgan Software Does in Program is called COIN = Seconds What Took Lawyers Contract Intelligence, interprets 360,000 hours commercial-loan agreements www.melita.digital
Technology, IOT, Data, MI: How will the digital evolution impact our job skills?
Jobs less likely to be affected by MI Nurses Specialist Counsellors Psychologists Teachers Customer Sales Reps Nannies
Impacts on Job Skills - 2020 MI Information Systems Freelance Workforce Repetitive and scripted job More transactional project replacements orientated jobs Robots by 2020 Increase in freelance workforce AI systems and machines, Robotics, Nanotechnology The WEF forum notes - humans will retain relatively good potential for upskilling, redeployment and productivity enhancements through technology rather than substitution.
Emergence of Freelance Workforce Is the traditional workspace dying? 53 million American freelance workers 4.1 million Australians freelancing = $51b economy Mastering new ways of working will be key to a person’s employability!
One Third of all Australians prefer Freelance Work Airtasker Freelancer Upwork oDesk Elance 99 Designs Guru PeoplePerHr Fiverr www.melita.digital
Freelance Workforce Advantages Disadvantages Flexibility Hours Higher income within the first year Start-up phase You keep all the profits Non-steady workflows Aspirational career path Strong work ethic – personal time vs work time Control over jobs and clients Not getting paid on time You’re the boss No employer benefits ‘In the next economy, work may be more lucrative and fulfilling, but the idea that you'll be professionally rewarded because you've been loyal to a company will be a thing of the past’.
Impacts on job skills - Freelance Workforce New strains on our Small business By 2040, more jobs will More recruiters Everyone is public fiscal system growth will lead be many part -time looking for a responsible for that’s centred around assignments, to a boost in standard worker their own success fixed employment decreasing job security wages ‘To be successful, individuals will have to be more entrepreneurial in thinking and planning, constantly selling their services, defining one’s own work and educating themselves for future assignments’.
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