2.2 Global Futurism and Megatrends

Machine learning, AI and AR (artificial intelligence and augmented reality) will not only drive efficiency and productivity, but an increasing need for the efficient flow of data which will be more important at the edge of the internet since the traditional cloud model lacks real time responsiveness.

Technologies will boost efficiencies and productivity so companies that traditionally had a business edge through human efficiencies will lose that advantage and will need to compete through quality and innovation.

Edge computing will begin to change everything and is necessary to implement change such as autonomous vehicles which will need to interact with each other and not just their physical environment.

For Australians, 5G will shape as a solution to data sharing in a more localised way. The connectedness of products through the internet of things will pose substantial cyber security threats while the ability to gather and analyse data in real time will not be a competitive advantage, it will be a necessity.

Blockchain will be vital in respect of product trust and preventing food fraud (substitution and adulteration).  The aim is to guarantee quality and provenance in a competitive world challenged by misinformation. Blockchain will facilitate efficiencies and automation, for example, in purchasing.