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News And Views

News & Views

Tech week
  • 21 June 2019
  • 3 Monkeys Zeno Tech Team

What did London Tech Week teach us about the industry’s future?

Launched with pledges around UK investment in AI and the news that the country is the third biggest producer of unicorn tech start-ups, London Tech Week saw a slew of events taking place across the capital. Our Technology team was on hand to support clients and scope out the latest trends during the week’s activities – here are three things we learned:

We need to make smarter use of data

We’ve reached a stage in which no human can process the amount of data we produce and consume. It’s more important than ever therefore to avoid the data hoarding trap – simply having the data does not mean you’ll find the answers or business benefit you’re after. Instead, define what the end goal looks like and work backwards, defining the type of data that can get you there.

Remember as well that data has a half-life: what looks important now may very quickly become outdated down the line. It’s because of this that we’ll never reach data nirvana. We’re in a constant cycle of learning from the past and predicting the future.

And it’s hard to say exactly what the future of data looks like – two examples discussed at London Tech Week were the idea of a data marketplace, whereby companies collaborate with data to solve some of society's biggest issues, and also the intersection of augmented reality and data exploration; in other words, physically exploring and manipulating data in digitally crafted worlds.

IoT will only achieve its full potential if it’s fully integrated

Another key theme was the importance of integration. With more and more variations of IoT becoming available, the advice from last week has been clear: adapt or miss out.

We saw talks from ABB and IBM, who both stressed the importance of integrating IoT and AI into business offerings to help enterprises achieve real change from within. By showcasing examples of how organisations have applied this technology, the audience had the opportunity to see what can be achieved when new tech is integrated into legacy systems.

Businesses must ensure they are incorporating IoT and AI into their daily operations. In doing so they unlock the potential to derive insights which can have a huge effect on operational efficiency and cost reduction – something which, in 2019, businesses can’t afford to miss out on.

Being socially and environmentally conscious is good for business

Tech for Good is booming. According to a recent report from TechNation, Tech for Social Good companies had a combined annual turnover of £732 million in 2018. That's more than the consumer electronics sector, which reported £634 million in the same period.

Recent developments to technology have allowed for this radically different approach to social challenges while consumers are driving social mission and impact.

But, addressing social and environmental changes is not just for the good of the world. It’s been proven to help businesses reach their goals – so it makes good business sense. When organisations shout about how they’ve helped solve one of society’s issues, they should not be shy about the business benefit it has had. After all, making money needs to be the number one priority for an organisation and by continuing to increase profits, they can ensure are around to help solve other challenges in the future.

Launched with pledges around UK investment in AI and the news that the country is the third biggest producer of unicorn tech start-ups, London Tech Week saw a slew of events taking place across the capital. Our Technology team was on hand to support clients and scope out the latest trends during the week’s activities – here are three things we learned: