Digital cash on the upswing, marking a new trend of “Digital Democracy”, says a report by CII and Future Factory


Posted October 21, 2020 by hetal24

5 major trends are noted from the report, “Shape of the Future” by Confederation of Indian Industry (CII) and Future Factory.

 
Shape of the Future, a trend report released by the Confederation of Indian Industry (CII) and Future Factory, outlines the shape of a new emerging world post the effect of the pandemic. This report not only highlights how the economy is changing but also helps businesses prepare for the new world. The report marks five trends that are arising from changes noted over the past 6 months, owing to the pandemic and it explores how changing consumer behaviour and evolving business practices, will create a world very different from our past.

“As the use of digital platforms increases across the span of our income and our cities, our society is becoming digitally democratised and this is likely to have a huge impact on the services we consume, and the way our society is shaped, “ says Geetika Kambli, Head Centre for Behavioural Research, Future Factory.

While the pandemic has accelerated the already visible trend of Digital Democracy, other trends like remote working and increased tolerance for diversity are relatively new, as covered in the trend Blurring Boundaries and Collective Identities. Also, the healthcare industry is especially seeing a major shift in the way people are being tested and even treated, with remote/digital technologies and patient empowerment gathering pace and with global changes in regulatory measures, says the trend Powering Patients. And the fifth trend, Augmented Automation marks an interesting shift in small businesses now adopting digital transformation, changing the social fabric of how we shop, eat and travel. Each of these trends mark how the shifts affect consumer behaviour, business ecosystems and how technology plays a role in shaping them.

“In this new, never before normal, the future of businesses & consumers will see a massive behavioural shift thanks to everything digital, resulting in 5 key trends that this report highlights.” says Rajan Navani, Chairman, CII WR Sub-Committee on Innovation, Technology and Digitization and Vice Chairman & Managing Director, JetSynthesys Pvt. Ltd

With increasing uncertainty, business forecasting takes on new challenges and the report aims to advising people and businesses and how they might adapt to this new emerging world. The Confederation of Indian Industry (CII) regularly releases reports to inform Indian businesses and in partnership with the Centre for Behavioural Research at Future Factory, the report offers a unique perspective into the trends that are affecting our businesses and our societies.

About CII: The Confederation of Indian Industry (CII) works to create and sustain an environment conducive to the development of India, partnering industry, Government, and civil society, through advisory and consultative processes. For 125 years, CII has been working on shaping India’s development journey and, this year, more than ever before, it will continue to proactively transform Indian industry’s engagement in national development.


About Future Factory: Affiliated to the $ Bn Godrej Group, Future Factory is Asia’s leading innovation and design firm, helping the world’s leading brands build success through design and technology. We are a community of an exceptionally talented team from business, research and technology, that create remarkable products & experiences. Centre for Behavioural Research, is a centre of excellence within Future Factory, set up to promote a user driven approach to guide technology and product development.

Press contact at Confederation of Indian Industry:
Sijo Rodrigues
Deputy Director, CII WR
Confederation of Indian Industry
105, Kakad Chambers, 132, Dr. Annie Besant Road, Worli, Mumbai, Maharashtra 400018
Telephone: 022 2493 1790
[email protected]

Press contact at Future Factory:
Hetal Bhanushali
Assistant Marketing Manager
Future Factory LLP
601 B, The Qube, Hasan Pada Road,
Behind T2 Airport Terminal, Andheri (E),
Mumbai, India
Telephone: +91 22 28596358
[email protected]
www.futurefactory.in
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Contact Email [email protected]
Issued By CII and Future Factory
Phone +91 22 49559797
Business Address B - 601, The Qube, Near Terminal 2, International Airport, Behind Taj Flight Kitchen,Marol, Andheri East, Mumbai - 400059.
Country India
Categories Design , Research
Tags design , design thinking , industrial design , market research , product design , user experience
Last Updated October 21, 2020