When it comes to innovation, few industries personify and exemplify it more than the world of digital technology. When you take a moment to consider it, this is a sector, a global business that infiltrates, impacts, and inspires so many other industries that it is hard to quantify. Whether it is something for our work life, our social activity, our leisure preferences, or our increasingly online presence, digital development seems to be driving things in more ways than ever.
It is this level of digital innovation that is changing the way we live, the way we work, the manner in which we meet and socialize, and even the way we buy everything from cars to clothing, holidays to hats, and everything you can think of in between. In terms of our social fun, so much of it now seems to be done on our mobile devices, for example. This agile, on-the-go social media and social-fun-first approach has become a critical element for digital developers. We stream shows online via our tablets, we play online lottery games from our smartphones, we listen to podcasts on our smartwatches, the list goes on – much like the innovation.
When we take a deeper dive into this, the far-reaching impact of technology and digital development becomes even more clear and pronounced. It may well be worth taking a look at some of the industries and sectors that have benefitted the most from this constant quest for digital innovation, and how that translates into our day-to-day lives and activities. Having researched this for some time, I am still staggered by what I have found, so let’s take a look at some important factors at play.
Bitcoin, Baccarat, BMWs, Buying – Online Tech Impacts All This And More
As I alluded to above, of course, there are many ways in which online tech is driving industries, and the automotive sector is another classic example. Not only does technology now help design, develop, and build cars, but it has also created in-car experiences that are constantly evolving and making our driving experience so much more. Our infotainment systems are now an integral part of car manufacturing, as consumers expect and demand more from their driving experience and car capabilities. This is not just the preservation of the luxury or high-end car sector: this is something we are now seeing across the board.
Sticking with the car industry, it is important to showcase and highlight how our now digital-driven world is also affecting the more direct commerce side of the automotive industry. Of course, we still have showrooms, test drives, and the physical ability to go and see cars, but the financing and even purchasing of vehicles, both new and second-hand, is now more online than it has ever been. We’ve gone from cash to credit card, reams of physical bills to paperless payment and billing, and now online as much as in person car trading. That, of course, feeds into the general eCommerce that is now almost ubiquitous. With auto trade now seeing so many online purchasing platforms, it is easy to understand how this has changed the industry.
Let’s look at cryptocurrencies for another example of how innovation has changed digital development, perhaps bringing some more clarity to the subject. In 2009, when Bitcoin was first introduced to the world, it was novel, as was the idea of a cryptocurrency. Fast forward to today and not only is Bitcoin still alive and well, but we now have many such cryptocurrencies, such as Ethereum and Tether, and they have gone far beyond just being trading commodities. As you will see, these innovations are mirrored and echoed in many industries, and perhaps changing our commercial landscape forever.
Financial Forecasts Suggest Digital Currencies And Cashless Commerce
As with the automobile industry, the financial sector has also been irrevocably changed by the digital revolution around the world. With consumer behavior shifting more toward online payments, cashless transactions, and yes, the increased use of cryptocurrencies, the financial forecasts look to be confirming that this will continue. Again, to compare this to the car industry, people are now looking for and expecting more from their payment options, just as they are in their driving experience.
Yes, payments are payments, but convenience and technology are combining to ensure that cash payments are on the decline, contactless payments on the up, and online transactions consistently rising. With digital payments increasing, we are now also hearing more governments openly considering the introduction of Central Bank Digital Currencies, harnessing the power of blockchain technology to create more centralized forms of this digital payment option.
Whichever way I look at this, we are seemingly driving along the road to a digital payment landscape that is already changing consumer behavior. Though cash may still be king to many, the lurch towards a global financial environment where digital and contactless payments are in the ascendency is now perhaps inescapable. As I said at the start of the article, the digital and financial innovation that continues apace shows no sign of slowing, so whether you are buying a car, playing an online casino, or doing day-to-day banking, the digital development driving us all is on the road to success.
