A to Z of tech predictions in 2024: V, part II

The 2024 predictions on various verticals continues below. To read about predictions from T to V, please visit https://www.techtradeasia.com/2024/01/a-to-z-of-tech-predictions-in-2024-t-v.html

Verticals: Healthcare

AI

Source: Ipsos. Respondents think doctors will be supported by AI in 2024.

According to research firm Ipsos, 56% of respondents^ expect doctors to regularly use AI, up by 18 percentage points from 38% since 2019. In Singapore, 66% of respondents confident that doctors will
regularly utilise AI for patient treatment decisions.

Consumerisation

Source: Zebra Technologies.
Ong.

"Healthcare systems are under pressure to provide more accessible, equitable care, giving rise to the phenomenon of the retail-isation of healthcare," said Johnny Ong, APAC Healthcare Practice Lead at Zebra Technologies Asia Pacific.

"Healthcare providers are shifting their technology investments from solely focusing on improving clinician capabilities towards patient engagement. This shift emphasises the need for substantial technology investments such as digital communications and records, mobile apps, and patient portals."

In 2024, Ong predicted that there will be more industry initiatives such as technologies patients use to interact with healthcare providers throughout their care experience including single occupancy rooms, smart patient rooms, self-serve kiosks and digital front doors.

He said: "More medical facilities will also seek to deliver highly reliable care at a lower cost at a place and time that is convenient for consumers. This might surface as 'clinic in a box' facilities, community health “step downs” and proactive home health services – especially with capital budget challenges and delayed campus expansions."

Storage

"The sheer volume of genomic data is a challenge that goes beyond mere storage capacity – a single human genome requires up to 200 GB of storage space. As this data accumulates across millions of
individuals, healthcare systems face not only logistical hurdles but also ethical and privacy concerns," noted Seagate in a list of 2024 predictions. 

"Advanced analytics tools using machine learning algorithms are also being finetuned to analyse this vast amount of data swiftly and accurately. This evolving data infrastructure aims to pave the way for a future in healthcare where genomic profiles guide everything from preventive measures to targeted therapies, thereby enhancing patient outcomes and healthcare efficiency." 

Cyberattack target

Akamai's Dean Houari, Director of Security Technology and Strategy, said that organisations should focus on securing the supply chain to thwart attackers attempting to exploit trusted connections from third-party vendors and breach their perimeters. "For example, as the healthcare industry expands its use of connected medical devices such as MRI machines, insulin pumps and wearables, APIs will continue to play a critical role in the accessibility of medical services (e.g., telehealth and remote patient monitoring)," he said."This will lead to a host of vulnerabilities that attackers will exploit to obtain the high value of health records and patient data on the dark web."

"The healthcare industry will be most susceptible to AI-powered attacks in 2024. With Singapore’s public healthcare institutions recently hit with DDoS attacks in 2023, ensuring the security and continued operations of healthcare institutions will be top of mind for many. 

"As AI becomes more integral in diagnostics, patient data management, and medical tools, there will be a notable rise in targeted breaches, jeopardising the confidentiality and reliability of vital health information. The vulnerability of interconnected systems will compel a critical re-evaluation of cybersecurity measures, marking a pivotal moment in fortifying defenses against AI-powered attacks in healthcare," said Joanne Wong, VP, International Markets, LogRhythm.

* Websites of Singapore public healthcare institutions went down in 2023 due to a distributed denial-of-service (DDoS) attack.

Verticals: Logistics & Transportation

Automation

"Like manufacturing, many logistics companies face serious labour shortages while pressure is increasing as a result of globalisation, e-commerce and complex multichannel supply chains. More logistics, warehouse and distribution centres will turn to automation (in 2024) to provide services faster and with greater accuracy," predicted Anders Billesø Beck, VP of Strategy and Innovation at Universal Robots.

"To take an example - facing the challenge of surging e-commerce demands, one logistics company we worked with revolutionised its fulfilment centre with collaborative robots, resulting in a 500% surge in efficiency and order accuracy. The automation system, adept at processing thousands of orders daily, particularly excelled during peak periods, like Black Friday, where a robot managed up to 4,400 orders in one day with just a small crew for replenishment.

"Robots– and the smart use of data – are poised to revolutionise logistics businesses across the whole value chain from incoming packages to outbound logistics."

Source: Zebra
Technologies. Tay.

Warehousing

For 2024, Vivien Tay, APAC Vertical Marketing Solutions Lead for Warehousing, Transport & Logistics, Zebra Technologies, forecasted that e-commerce will change things for fulfillment. "From third-party logistics providers to general merchandisers, grocers and manufacturers, the need to rethink how direct-to-consumer fulfillment can be done in the most efficient manner will continue to be a trend in 2024. Each segment is poised to adopt a distinctive approach to meet this evolving demand," she said.

"In the past few years, there have been big upticks in e-commerce growth powered by the internet becoming more widely accessible as more people in the region acquire smartphones and other digital devices, as well as the proliferation of online marketplaces such as Lazada and Shopee.

"E-commerce in SEA markets are entering a new phase where more people are buying a wider array of products online across more diversified channels. Its continued growth means warehouse space will grow too, albeit at a slower pace. 

"The general rule of thumb is that for every US$1 B in online sales, 1 million sq ft of warehousing is essential for adequate support. With the relentless expansion of e-commerce, projections indicate that warehouse space is poised to exceed 6 billion sq ft by 2025. Amidst a pause in hyper-growth, there lies a strategic window in 2024 to enhance the existing warehouse infrastructure with cutting-edge technology, paving the way for scalable solutions.

Source: AutoStore. Schitter.

"Within a warehouse, AI-driven automation has significantly improved efficiency and responsiveness. Through the utilisation of AI-powered automated storage and retrieval systems (AS/RS), warehouses can accomplish storing and retrieving goods with unparalleled accuracy and swiftness," said Philipp Schitter, VP of Business Development APAC at AutoStore. He explained that an AutoStore AS/RS continuously calculates the most efficient path for AutoStore robots in real time, leading to four times the throughput.

Autonomous fleets

"The emergence of autonomous vehicles, spanning from trucks to drones, marks a tangible shift that holds the potential to completely transform last-mile delivery services. These vehicles, empowered by AI, possess the capability to navigate congested roads, evade obstacles, and streamline delivery routes, all while prioritising safety. Whilst not readily adopted, this advancement not only diminishes delivery durations but also yields substantial cost savings and plays a pivotal role in curbing greenhouse gas emissions," he added.

Trust

Schitter also noted that there are concerns centred on data privacy and security when it comes to adopting AI in logistics. "Given the logistics sector's heavy reliance on vast data volumes for optimising operations and informed decision-making, safeguarding this data becomes paramount," he said.

"As AI systems process and scrutinise this information, ensuring robust security measures becomes imperative. Any breach could lead to data exposure, jeopardising confidential information and potentially resulting in severe repercussions for both the company and its clientele." 

Pre-empting 'where is my order' (WISMO)

"Customers looking to know the delivery date of their parcels are way in the past. They now expect to know the precise location and status of their parcels regularly, along with the ability to be able to check it at their convenience. Hence in 2024, businesses will need to proactively equip their customers with real-time tracking information, anticipating their needs before queries like WISMO arise," said Anchanto in a list of 2024 predictions.

"Many businesses will also work to make sure customers not only receive these updates with proper branding, but also to equip customers with tracking their orders in real-time. This proactive approach will redefine customer service standards, fostering greater satisfaction, reducing support tickets, imparting great customer experience, and streamlining the overall order fulfillment process for businesses."

On the back end, Anchanto said businesses will scrutinise delivery performance more, especially as there is more data available to understand the supply chain and delivery journey after an online purchase. "Hence, brands would like to leverage analytics that monitor return shipments, utilise detailed reports that highlight reasons for returns, comparisons between new and returned shipments, and tracking return volumes within specific timeframes," the company said.

"Businesses will also be on the lookout for a tracking system to swiftly identify exceptions such as theft, customs hold, damaged or lost parcels, enabling them to anticipate potential delays caused by carriers."

Building customer loyalty

Third-party logistics providers (3PLs) will focus more on customer experience amidst rising competition, Anchanto added. "3PLs will increasingly focus on automated customer onboarding and building deeper relationships with them to improve stickiness. They will try to achieve that through better transparency and providing autonomy to customers for managing services. And reliance on technology would be the norm, with many businesses looking to adopt white-labelled interfaces to manage logistics, fulfillment, warehousing, order orchestration and customer operations," stated the company.

Verticals: Manufacturing

Source: Universal Robots. Beck.

"If software development has sometimes felt like digging with a shovel, the introduction of AI is like bringing two horses and a plough to the process. However, automation expertise will remain a scarce and valuable resource in the process of AI revolutionising manufacturing," shared Beck.

"It has been interesting and perhaps surprising to see AI changing the lives of office workers before it touches working practices in most factories. I look forward to seeing the benefits of machine learning reach more manufacturers in 2024. After all, the technology is already there – we have many partners developing applications using AI to allow our robots to perform more complex and diverse functions.

"For example, AI allows robots to have human-like perception, handle variation, move parts precisely, adapt to changing environments, and learn from their own experience. With time, these capabilities will lead to unprecedented flexibility, quality and reliability in manufacturing."

Verticals: Public sector

Hedging bets

"We’re seeing a significant shift toward multitransport networks in our work with government agencies. Government leaders recognise that they can take advantage of emerging technologies and capabilities and not get locked into one specific technology, solution or vendor, enabling them to explore and deploy a diverse range of networking technologies, including LEO, GEO and 5G, to meet the evolving needs of their users and branch locations," said Rick Lober, VP & GM, Defense & Government Solutions, Hughes Network Systems.

Relationships

"As companies invest in AI technology, they’ll be looking for partners who can support them through any new regulatory requirement processes. The AI companies that have the acumen and clout to build effectual government relationships will position themselves to come out on top in this area," said DataStax in a list of 2024 predictions.

"There will likely be one to three new, big players who show up and serve this need. Of course, OpenAI is expected to be the giant, but there’s room for other players to emerge who will create turnkey, compliant AI solutions."  

*LEO stands for low-earth orbit, while GEO refers to geosynchronous equatorial orbit. 

Verticals: Retail

"In 2024, businesses will increase their marketing spending on marketplaces such as Tokopedia, Shopee or Lazada to push more sales. With thousands of new businesses launching operations online every day, brands will need to ensure they navigate price wars and stand out against competition on marketplaces. To do this effectively, brands would need to know search trends, keyword searches, category performances, etc.," said Anchanto in a list of 2024 predictions.

At the same time, Anchanto said that brands will address the problem of grey and unauthorised sellers on marketplaces in 2024. "(Brands) will aggressively move towards protecting brand equity, digital assets and have low tolerance for ineffective and counterfeit listings by third-party sellers and grey sellers. So, it will become crucial for them to monitor third-party online activities and identify unauthorised sellers to optimise distribution strategies," the company said.

"To do this effectively, brands will rely on AI-driven insights to detect price violations, track third-party sales performance, pricing history, and identify best and worst sellers."

Brand consistency will be important too, Anchanto added. "In 2024, brands will double their focus on how they put their omnichannel practices into action. If not leveraging already, brands will focus on acquiring tools that support seamless product listings across channels, leverage quality digital assets to ensure customer retention, and focus on online-to-offline (O2O). This will be critical for brands to offer a consistent shopping experience to their customers across all touchpoints in an integrated manner."

That shopping experience has to be customisable, too, with options like flexible delivery time slots, alternative pickup locations such as lockers or local stores, on-demand delivery services, subscription-based models, and curbside pickup options. "There will be a rise in these adaptable and personalised shopping and delivery choices that cater to the dynamic lifestyles and preferences of consumers, enhancing convenience, and reshaping the e-commerce landscape by prioritising flexibility as a cornerstone of the customer experience in 2024," Anchanto predicted.

Today, consumers are signalling an overwhelming desire to have an efficient store experience. According to Zebra’s 16th Global Shopper Study, seven in 10 shoppers in APAC have indicated that they prefer to get in and out of a store quickly. They are also looking to try new and different in-store technologies," said Christanto Suryadarma, Sales VP, Southeast Asia (SEA) and South Korea, Zebra Technologies Asia Pacific.

Source: Zebra
Technologies.
Suryadarma.

"Key strategic elements driving checkout trends include enhancing the checkout experience to be faster and more accurate, and improving in-store service such as offering home delivery of an item that’s out-of-stock, or as personalised as clienteling*, where retailers have a clear path to differentiate their in-store experience. This presents an opportunity for retailers to invest in technologies that will both improve the job experience of their front-line workers, and profitably improve the customer experience."

Suryadarma said customer experience trends in the retail sector to look for in 2024 include: smart checkout, buy online pickup at curb, comparison shopping to beat inflation and upgraded employee tools. "With the rise of the goods and services tax (GST) in Singapore in 2024, retailers can expect consumers’ elevated desire to comparison shop," he said. 

"Lastly, a key trend identified by the recent Shopper Study is that consumers often have greater tools and data at their disposal than store employees do. A smart way to solve this and gain ROI in 2024 is company-provided devices for frontline workers that allow them to check inventory, prices, loyalty options; answer customer questions; and execute out-of-stock options such as home shipping as well as operational uses such as shelf maintenance and training."

*Clienteling refers to the retailers' ability to personalise the experience for shoppers.

Verticals: Telecommunications

“As consumers and audiences demand more immediate answers, reactions and offers, the virtual assistant – which up until now has taken the form of a chatbot mainly used for customer support concerns – will evolve into a ‘conversational marketing and engagement machine.’ This machine will, in real time, follow the twists and turns of individual customer journeys to help guide, personalise and close conversion events faster and more efficiently, leading to customer satisfaction and long-term loyalty,” said Mari Nilsson Björkman, SAS Telecom Industry Lead.

Verticals: Travel

"Free-to-all in-flight connectivity (IFC) is gaining traction, with airlines putting a focus on elevating the overall passenger experience. IFC is now crossing the chasm from being a 'nice to have' service only offered by innovator airlines to being a must have – in other words, table stakes – for all airlines," said Reza Rasoulian, VP Broadband Satellite Services, Hughes Network Systems.

V is also for video

Source: Milestone
Systems. Toft.

AI and data-driven video are changing the security game, said Malou Toft, VP Asia Pacific, Milestone Systems. "AI has accelerated advancements in the security industry in 2023, with computer vision techniques being applied to video technology in surveillance applications. As a result, the industry's trajectory in 2024 is overwhelmingly focused on data-driven video technology," she said.

"AI-driven video technology combines video data with other types of data to derive actionable insights, disrupting the security industry. Instead of excluding people, it places them at the core of the solution. While software identifies objects, recognises patterns, and generates insights, individuals serve as the human-in-the-loop, using intuition and judgment to verify insights and make informed decisions.

"This is driving a strategic shift, with video surveillance moving beyond passive observation to evolve into a proactive tool for intelligent action, opening up new opportunities both within and beyond security."

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Read predictions from W-Z at https://www.techtradeasia.com/2024/01/a-to-z-of-tech-predictions-in-2024-w-z.html

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