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How will tech influence consumer outcomes and enable better choices in the next 10 years?
Kate Ancketill CEO [email protected]
GDR provides inspirational thinking, plain-speaking consultancy, and clear future direction for consumer-facing businesses worldwide.
Global Insights and Strategy for Retail, Brands & Experiences
Today’s programme
Key trends
• Health and Wellness • The transformation of finance by making money programmable • Doing well by doing good
What does this mean?
Key Trends
We are in the midst of two revolutions that go hand-in-hand:
Technology Service
Health & Wellness
Telemedicine
Services like Babylon allow users to access GPs, have prescriptions mailed to the user or a pharmacy or they can refer you to NHS approved therapists for mental health issues like depression and anxiety.
Digital Death
Even death is going digital: online time capsule service SafeBeyond allows customers to record messages to be delivered after their death.
Run through an online platform and mobile app, users can manage their profile, upload content and decide when, where and with whom messages and other digital assets are shared.
Automation promises to help make up the productivity and staffing gap within care and chronic medicine to offset the burden of an ageing population.
This will build tech acceptability: robotics and digital interfaces will be everyday, even life enhancing.
Robotics
Voice-driven computing is natural, accessible, and ever-present.
As our smart assistants get more capable, they will start to take care of more and more of our daily administration
Smarter Assistants
Voice-driven computing is natural, accessible, and ever-present.
As our smart assistants get more capable, they will start to take care of more and more of our daily administration
Voice
The transformation of finance by making money programmable
Savings platform uses open banking to connect to the users current account - rounding up everyday payments and putting that money into savings products like ISAs and private pensions.
Moneybox
Savings platform uses open banking to connect to the users current account - rounding up everyday payments and putting that money into savings products like ISAs and private pensions.
Moneybox
Tail uses Open Banking to give regular customers automatic cashback and loyalty rewards, based on their spending data - no extra cards required
Tail
Placeholder for video as played at the
summit
“Robo-lawyer” startup offers customers a disposable credit card number to sign up for risk-free trials
DoNotPay
True Link
True Link offers investment accounts and debit cards customised for seniors, the disabled, or recovering addicts. It uses special controls to prevent common types of fraud and financial abuse. These include fraud-detection algorithms, telemarketer and charity blocking, and set limits on ATM usage or late-night spending.
The average user opens AliPay 15 times a day.
It’s almost impossible to function in China without it.
AliPay
In 2013, Alibaba’s “leftover treasures” started offering wallet users a way to invest the change they had lying around in their Alipay accounts
Y’ue Bao
Location: US
Bank app lets customers choose which personal advisor to chat with, using Tinder-style interface.
Umpqua Bank Go-To
Location: South Korea
App matches users with vloggers
that look like them, and uses a
‘time link’ function to cut each
tutorial into sections, ie shading,
highlighting. It then shows a list of
the exact products the streamer is
using.
Zamface (byZakdang)
Doing well by doing good
Climate change has helped elevate sustainability into one of the most important criteria for products and services - for all age groups.
Sustainability
CoGo aims to create a mutually sustaining bubble of brands and consumers with shared values, helping issue-led consumers find like minded businesses and vice versa
CoGo
Ant Forest
Mini-program built into Alipay encourages users to choose green a lifestyle.
In return, Alipay plants trees.
Ant forest is a product built into Ali Pay that encourages users to choose green lifestyles in ways like taking public transit, paying utility bills and booking tickets online.
In return, Ali Pay plants trees.
Ant Forest
Placeholder for video as played at the summit
Alipay’s online mutual aid platform Xiang Hu Bao got 50m users in 6 months, the vast majority had never had insurance before.
Claimants receive ~$45,000 for critical illness by everyone contributing a penny.
Mutual Insurance
• 80m participants between Oct 2018 launch and August 2019 • 200 people join every minute • They aim to sign up 300m people in 2 years: 20% of the population • No up front payments or premiums; you pay 0.1 Yuan for every
member that becomes critically ill, who receives up to $ 45k • Disputes adjudicated by tens of thousands of accredited members • Anyone from 30 - 59 can join if they meet basic health criteria • Members pay out 0.1 Yuan for every critical illness claim, ie 1p • Ant takes 8% admin fee from every payout
What does this mean?
We’re heading for a digital tipping point
New propositions bypass the typical gatekeepers and middlemen, focusing on delivering radical efficiency, convenience and value.
Consumers will will have high expectations of performance delivery and data clarity.
Dashboards, AI and predictive interfaces will make the complex manageable, real-time and easy.
Takeaway: simplicity and coherence will empower us to make better choices
• Health management and financial planning increasingly work together through tech, influencing how consumers think about their own future.
• The science of anti-senescence has the potential to entirely redefine what retirement means and how consumers plan for it.
• Sustainable investment decisions will benefit from money becoming programmable.
• DNVBs set the bar for everything else; clarity, immediacy, ultra-personalisation using AI, increasingly the interface will be voice.
• The winners in this future will blend expertise and experience to deliver the best CX.
• Change happens quicker than you think - and looking back, it always seems obvious.
