We ventured to SXSW 2024 to discover the emerging trends of technology and innovation that are shaping our tomorrow.
One keynote caught our attention, as Amy Webb introduced us to the Tech Supercycle, marking the onset of a new technological era. The convergence of AI, robotics, and biotechnology is reshaping industries and creating new value ecosystems.
Explore with us how this cycle offers a unique chance for businesses to leap ahead.
Austin, Texas – The annual SXSW festival has again descended upon Austin, bringing a tidal wave of innovation, creativity, and inspiration.
As a team dedicated to pioneering customer-centric, systemic innovation, Hellon has been a regular attendee at SXSW for several years. This year's event was particularly inspiring, with a lineup of speakers and sessions that perfectly align with our mission to enable new horizons for our clients.
One of the most intriguing concepts we've encountered this year is the Tech Supercycle, a term coined by Amy Webb in her Future Today Institute's Tech Trends 2024 report, launched at SXSW.
In essence, a Tech Supercycle is a period of sustained technological growth driven by significant advances in areas like artificial intelligence, robotics, and biotechnology. These advances have the potential to revolutionise entire industries towards new value creation and create new markets worth trillions of dollars.
The Tech Supercycle presents a unique opportunity for businesses to leapfrog the competition and capture new markets. By embracing emerging technologies and adopting a customer-centric approach to innovation, companies can position themselves at the forefront of the next wave of technological change.
Here are a few key takeaways from the Tech Supercycle:
1.** AI is the foundation of the Tech Supercycle.** Artificial intelligence is rapidly becoming the underlying technology for everything from self-driving cars to personalised medicine. As AI continues to evolve from Large Language Models towards Large Action Models, it will create new possibilities for businesses to improve their products, services, and operations towards the better.
The explosion of data in recent years has created a new fuel for innovation. However, the ability to harness this data and transform it into actionable insights will be crucial. This is where advancements in biotechnology and connected devices come in. Imagine biofeedback sensors that can read our emotional state or even rudimentary thoughts, combined with the processing power of AI and the data collected by ever-present smart devices. This convergence will be the engine that drives the Tech Supercycle.
For example, the facecomputers (for example Apple Vision Pro) will be able to predict the user's intentions as the reading capability of human pupils improves through biofeedback integration. So, we will have computers that act and create value based on our thoughts already.
Trends are long term patterns that indicate a direction of change over time.
Large organisations today find themselves navigating a complex and rapidly evolving landscape. This landscape presents a threefold challenge:
Wicked Problems: We face increasingly complex and interconnected challenges across the value chain with no easy solutions.
Volatility and Uncertainty: The business climate is more volatile than ever, demanding agile and adaptable solutions.
Technological Disruption: Generative AI, quantum computing, and, basically, the Tech Supercycle, are forcing rapid transformation across all industries.
In Amy Webb's inspiring talk, she emphasised the importance of systemic capabilities in innovation and transitions towards new value creation. Never before have we experienced a time when value ecosystems and value chains have been so dynamic and volatile as today. It will become a critical capability for businesses to succeed in creating “tectonic shifts” needed to sustainably grow, deliver value, and stay relevant in the global market.
In response to these challenges, Hellon believes the future of innovation lies in assisting organisations with understanding and mapping out pathways for systemic change. We advocate for a systemic, customer value-oriented, and agile approach, facilitating a smooth transition through a combination of micro and macro movements that impact your entire ecosystem. This approach will help organisations navigate the complex landscape and secure an advantageous position in the coming years of the Tech Supercycle.
Hellon is excited to be at the forefront of the Tech Supercycle. We are committed to helping our clients navigate this rapid change and seize the opportunities it presents.
Join us on the journey.
