20 April 2023

Predicting the Future: Technology’s Impact on Society

Submitted by: Michelle Cave
Predicting the Future: Technology’s Impact on Society

By Kim-Lee de Vries: Director of Operations at Bateleur Brand Planning

The findings of the Vantage Point survey indicate how the world is expected to look in the near future.

Bateleur Brand Planning sheds light on the future of consumer behaviours and preferences. With every change, businesses must innovate to meet consumer needs and stay competitive. But how do they know what the future looks like? Let's explore what the future could soon look like, according to the Vantage Point survey participants.

73% of respondents believe that virtual reality meetings will soon be possible

Socialising/hosting meetings in virtual reality with the ability to see and interact with one another in 3D

The survey results reveal that 73% of respondents believe virtual reality meetings will soon be possible, allowing for socialising and hosting meetings in virtual reality with the ability to see and interact with one another in 3D. Flash Forward Productions, the first and only company in South Africa to develop the technology to transform live events into a 3D virtual experience with a live interactive audience, makes this technology possible. Simulated technology makes a completely customisable 3D set design possible, bringing the live event experience to users.

Globally, Mark Zuckerberg’s Meta idea sparked the creation of a slew of 3D VR meeting platforms. While these are still quite rudimentary, platforms like MeetinVR deliver the first user experiences in this space. The only definitive fact that we can offer in this realm is that the technology is, right now, the worst that it will ever be.

64% of respondents think we’ll soon have conscious control over our homes

Used to control our homes and act as an intelligent PA to control elements of the house

64% of the respondents think it won't be long until we have conscious control over our homes, allowing our consciousness to control our homes and act as an intelligent personal assistant to control house elements. As more automated personal assistants perform concierge-type tasks and provide information based on voice input or commands, smart personal agents can automatically perform management or data-handling tasks based on online information without user initiation or interaction.

Google Home allows users to get help around the house through the hands-free speech recognition capability to manage schedules and control smart homes. It directs the assistant to do things like; making a reservation, setting a reminder, or playing your favourite playlist directly from your phone. Android Wear helps you make use of Google Assistant. Viv uses the latest web technologies and can work on various devices, from mobile phones to TVs, cars, and even household appliances. And the majority of us are familiar with the Siri and Alexa software, which aids in managing your activities by setting reminders to ensure efficiency.

60% of respondents believe we will soon live in a cashless world

Money in its physical form falls away to the point it is viewed as primitive

Cashless transactions are more common among consumers and companies in the current digital era. The survey found that 60% of respondents believe we will soon live in a cashless world, where money in physical form falls away to the point that it is viewed as primitive. Bateleur Brand Planning predicts a future where a cashless society could improve financial inclusion by making banking services more accessible and affordable for people currently excluded from the traditional banking system.

Spain has experienced the greatest growth rate in contactless payments in Europe; the rest of the continent is not far behind.

WeChat Pay in China is a mobile payment and digital wallet service that allows users to make mobile payments and online transactions. As of March 2016, WeChat Pay had over 300 million users.

Travellers no longer need to show boarding passes in many American airports. Scanners can now digitally process a traveller’s details like ID and match their biographical information like name and birthday against the secure flight database in real-time.

Amazon started installing biometric technology at retail locations, enabling customers to pay for goods by scanning their hands. The Amazon One system lets customers associate a credit card with their palm print, offering a contactless alternative to cash and card payments.

While these technological advancements may bring efficiency and convenience, Bateleur Brand Planning acknowledges the possible effects of these changes. A world without finance, smart homes controlled by our consciousness, and 3D virtual reality meetings would greatly impact society. There may be an increasing reliance on technology and decreased physical contact. Additionally, the possibility of governments or other organisations operating smart houses through our minds could lead to increased control and surveillance, posing privacy and security risks.

More efficiency and convenience: By allowing us to interact with the outside world and one another naturally and seamlessly, 3D virtual reality meetings and smart houses controlled by our consciousness will boost efficiency and convenience.

Increasing reliance on technology: In a future where technology is utilised to control our homes and communicate with one another virtually, there may be a loss of certain abilities like social interaction or manual dexterity and an increase in our reliance on technology.

Decreased physical contact: In a world where meetings occur virtually, there might be less physical touch between attendees, which could affect social skills and amplify loneliness.

More control and monitoring: The ability of governments or other organisations to operate smart houses through our minds could lead to increased control and surveillance, thereby posing privacy and security risks.

Possibility for economic disruption: A cashless society could have a big impact on the economy, resulting in job losses and economic upheaval in sectors related to cash handling.

Greater financial inclusion: A cashless world could improve financial inclusion by making banking services more accessible and affordable for people currently excluded from the traditional banking system.

Possibility for inequality: If access to technology is restricted to specific groups of society, a future with advanced technology like virtual reality meetings and smart houses could result in increased inequality.

Ultimately, a future with 3D virtual reality meetings, a cashless society, and intelligent homes that we can control with our minds would have a monumental impact on society. Although there may be advantages, such as efficiency and ease, it's critical to address privacy, security, and inequality issues and ensure that technology is used responsibly and ethically.

-- ENDS --

Sources:

Published in Advertising, Media Consulting, Marketing Research

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