HP Innovation Journal Issue 06: Spring 2017 | Page 6

Payment habits of Millennials
52%
Use smartphone
as mobile payment
device
22%
Use wearables
as a payment
device daily/weekly
41%
Use their phone
to make a payment
at least monthly
26%
Expect to use digital
currencies daily
or weekly by 2020
world with a diverse set of local requirements.
It’s now easier than ever for start-ups to scale
globally, and for emerging market companies
to become real challengers to established mul-
tinationals. This challenge will disrupt markets
and business models. Companies around the
globe must constantly reinvent themselves
to stay competitive, and they must do so at
a faster and faster rate.
Companies that succeed will also have to
be ready to handle new forms of payment,
as for how consumers buy and pay for prod-
ucts and services is being increasingly digi-
tized. People across the globe will soon be
transferring data instead of cash. Online and
mobile payments will lead to near-cashless
societies in Norway, Denmark, and Sweden
within 5 years. This trend is supported by
Millennials — those born between 1982 and
2004 — around the world.
However, with the speed of global technol-
ogy adoption also comes with an increased
risk of cyber-attacks. Information is power,
and cyber-attacks are hard to attribute as
witnessed by the recent Democratic National
Convention email hack during the US election.
There will be an increased emphasis on tech-
nology companies to innovate and achieve
much higher degrees of trust and resilience.
Accelerated Innovation
The pace and breadth of innovation continue
to accelerate. As new technology components
6 Innovation Journal · Issue 6 · Spring 2017
29%
Expect to use
PayPal at least
weekly by 2020
13%
Use digital
currencies today
daily or weekly
mature and become commoditized, they
transform into building blocks for new break-
throughs. Emerging technology trends like
Hypermobility, 3D Transformation, Internet
of ALL Things, and Smart Machines will har-
ness advancements in computing power, con-
nectivity, and immersive computing to deliver
richer experiences.
The rise of AI will lead to massive auto-
mation of tasks, manufacturing, and our
workforce. The trajectory of manual job au-
tomation continues with the adoption of in-
dustrial and services robots across industries.
However, it’s not just manual tasks that are
being automated. AI and robotics are being
put to work performing high-level cognitive
jobs from healthcare diagnosis to publishing
and advertising, and even making investment
decisions in the boardroom.
This “smart movement” will impact every
aspect of our lives, with intelligent agents
and bots always at the ready, orchestrating
our everyday activities. The possibilities are
endless for a Man + Machine-enabled world.
So how will these trends shape
HP’s future strategy and
innovations?
HP uses Megatrends to inform strategic, ac-
tionable choice points for our products and
services. Megatrends give HP a directional
look at how markets, industries, and behav-
iors are changing, and what type of solutions
might be needed to overcome the challenges
and demands of those shifts.
Looking at short and long-term time
intervals, HP identifies key technology ad-
vancements and new solutions that have the
potential for the greatest impact. Starting with
a pivotal choice point of deciding whether a
new technology should be merely observed,
is an incr