Digital technology has transformed existing businesses and has had major impacts on (a) the way business is done, and (b) the expectations of customers. New methods are introduced to achieve customer satisfaction. A business that does not have the ability to transform itself pays the price and may close. Think of Blockbuster, and now the winner Netflix is challenged by many newcomers. With all the transformation created by digital business, some aspects remain protected. Accounting firms may use a variety of AI techniques, but are still constarined to work with computers that can support secure digital delivery of data. They cannot do entirely with 5G phones. A 5G phone can order a Starbucks coffee, but you still have to get the real physical coffee in hand.
It is clear that the future trend is towards larger bandwidth, more pervasive computing, intelligent systems, faster and more capable devices, more embedded systems, etc. Discuss these trends with respect to business, society, and the individual. For example, the pandemic forced people to work from home and there is huge increase in mental health concerns. What should business be looking for?
