Your personal AI shopping assistant scans the wall space and finds you a selection of paintings that suit your taste from a subscription-based art gallery. The assistant posts different possibilities for the wall on your social media accounts so your friends can vote for their favorites. Equipped with this knowledge, you make an informed decision about which paintings to go with, and the assistant handles ordering and logistics. The subscription-based service will also frame the paintings, install a picture hanging and lighting system, and then maintain it over time, refreshing the art periodically. Your need is fulfilled with less work for you and a lower upfront cost, and the outcome you desire—sprucing up your living room wall—is achieved.
This brave new world isn’t the stuff of science fiction: the technologies that make it possible already exist and are evolving quickly. These include the rapid adoption of AI, data modelling, multi-party systems in a digital supply chain (like blockchain) and 5G-enabled metaverses.
Many of these emerging trends are accelerating particularly quickly in the Asia market. The region is home to a unique, young and rapidly growing population of digital natives that has leapfrogged directly to the most advanced technology frontiers. This gives companies an edge in reimagining business with consumers who will adapt more easily to change. In fact, e-commerce sales in Asia are expected to nearly double between 2021 and 20251. Economic and societal demographic shifts are boosting incomes, which will lead to increased spending by households.