In a rapidly evolving landscape, the intersection of technology, finance, and retail is creating a tapestry of innovation that promises to redefine our future. LinkedIn News India recently gathered insights from their community of Top Voices and industry experts, unveiling the big ideas that will shape 2024.
From AI-enabled venture building to voice-based payments, from hyper-personalization in wealth management to the rise of neobanks, let’s delve into the transformative trends that are set to revolutionize the tech, finance, and retail sectors.
- AI-Enabled Venture Building:
The conventional startup model is undergoing a seismic shift, thanks to the infusion of artificial intelligence into venture building. Mallapragada envisions a future where startups leverage AI platforms for a holistic experience. Imagine a space where intuitive platforms streamline project management, ensure quality research, facilitate talent and investor matching, all while offering targeted masterclasses to elevate founders and startups.
AI is not just assisting; it’s reshaping the entire entrepreneurial journey.
2. Voice-Based Payments in India’s Digital Payments Landscape:
India’s digital payments landscape has been flourishing, and the Unified Payments Interface (UPI) has played a pivotal role. However, the next wave of evolution is on the horizon—voice-based payments. As more than 10 billion transactions were recorded in August alone, the power of voice is set to reshape the way we make payments.
The inevitability of voice-based payments is not a matter of ‘if,’ but ‘when.’
3. Hyper-Personalization in Wealth Management:
As India experiences a surge in private wealth, managing this wealth is becoming an art and a science. The era of hyper-personalization in wealth management is imminent. The rise of High Net Worth Individuals (HNIs) and the expected growth in their population from 3.5 lakh in 2020 to 6.2 lakh in 2025 will drive the need for tailored wealth management solutions.
The marriage of technology and personalization is set to redefine how wealth is managed, offering bespoke solutions for every individual.
4. The Rise of Neobanks in India:
Neobanks, the disruptors of traditional banking, are gradually making their presence felt in India. While they have already gained popularity in countries like the U.S., the rules are still being written for neobanks in the Indian context.
As the financial sector undergoes a paradigm shift from physical to digital, neobanks are at the forefront, rewriting the norms and challenging traditional banking structures.
5. Planetary Intelligence: Shaping Future Technology and Business Strategies:
The focus on sustainability and environmental consciousness is driving the emergence of Planetary Intelligence. Balani highlights the demand for professionals who can bridge the gap between environmental systems and technology. Environmental Data Scientists, Generative AI Data Analysts, and Blockchain for Sustainability Experts are set to play a crucial role in integrating environmental insights, adapting AI models for environmental data, and promoting transparency in eco-projects.
The year 2024 holds the promise of a tech-driven future where artificial intelligence, voice technology, hyper-personalization, neobanks, and planetary intelligence converge to shape a new reality. As we navigate through these transformative trends, the key lies in adaptation and innovation, ensuring that we not only keep pace with change but lead the way into a future defined by big ideas. The stage is set for the Tech Titans of 2024 to make their mark on the world.