Wearable Technologies Influencing Millennials

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Transcript of Wearable Technologies Influencing Millennials

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Wearing your technology on your sleeve

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Why wear your technology?

• The millennial generation looks to technology to ease up life and increase productivity at work.

• Extensive research on smart technology and its impact is being conducted across industries such as entertainment, healthcare, media, retail, manufacturing and more.

• Increase in technological advancement combined with lower levels of investment in procuring technology has led to a paradigm shift in how industries approach their business.

• Experts predict reaching a target of 130 million units by 2018.

P.S.: Today’s smart devices are more powerful than Apollo 11!

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From your home to your place of work, the journey of wearable technology

• Timely decisions, quick responses and the ability to stay a step ahead is the need of the hour.

• Gone are those days where one could review work matters after reaching the office or only during working hours.

• With things changing rapidly around you, these personal devices helps in keeping your people constantly updated on important happenings.

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• Availability of real time data / information has made the use of wearable technology in the business arena a massive success.

• Take, for instance, how people are assessing their health. From tracking steps to calories right up to hours of rest, personalized information analysis provided by fitness monitors has enabled people to up their quality of life.

• Latest trends indicate that devices such as Fitbit are now considered first generation with a further growth in technology expected shortly.

• Guess which was the first portable wearable? (Answer on the penultimate slide)

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What makes these devices attractive?• When it comes to functionality, one of the biggest

growth drivers in the wearables sector is battery life.

• The ability of devices to be compatible with the working of the environment its been used for.

• Ease of use and access and timely updates to technology.

• Design that is smart yet blends in; is it a watch, is it a wearable?

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What’s in store for industry?• The B2B and B2C market are said to be

radicalized by the mainstreaming of wearable technology.

• Entertainment, Media and Healthcare industries hold the largest opportunity for advancement in the growth of wearable technology.

• New and smarter means of marketing, more accurate collection of data and a greater awareness towards user interaction.

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The sense in wearing technology

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• The average life expectancy of people is likely to increase and here is how:– Ability to act immediately on warning signs being

displayed on fitness wearables just like when we take immediate action when a warning light flashes in vehicles.

– Just like the ripple effect, an increased life expectancy and improved health conditions for people will lead to an increase in economic growth due to an overall increase in economic activity.

– It is just another device that you carry around, isn’t your mobile a part of you today?

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• Accuracy and timely availability of data in healthcare industry is likely to revolutionize medical research.– The ability to predict the problems through collection of

relevant data over a period of time helps in better preparation to tackle the problem.

– Early diagnosis of diseases not only lowers the complexity of treating them but also lowers the overall treatment cost.

– All this boils down to data! The more data we have, the better our insight to help predict future occurrences.

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The role of wearable tech for critical response teams

• Imagine a point when a police officer could user a pair of smart glasses to automatically obtain information about a person that was within the officer’s field of view.

• This a real time solution which is vital for taking quick action.

• With the emerging trends on lifestyle illnesses, one can take immediate action on the patient by knowing the approach to the first aid process through immediate collection of medical history details. This can be made possible through a scan of the person’s face and acquiring information immediately through the medical database.

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• The same can be applied for traffic police when checking parking meter usage by scanning number plates.

• With several options available to scan information including QR Codes, RFID tags, the ability to track details has been easier than ever.

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Wearable Possibilities

• Wearable technology aims to revolutionize the way one approaches a particular task.

• Ranging from huge growth in business, improved lifestyle of people, improved medical research and services, improved safety and overall increase in the type of services available, its impact is tangible.

• The future is here, let us find a way to wear it best.

P.S.: Pacemaker in 1960 was the first portable wearable invented by Wilson Greatbatch

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