When technologies are harnessed to work together, the benefits mount up.
The first big technology platform was the web, which digitized information, subjecting knowledge to the power of algorithms. The second was social media, running primarily on mobile phones. It digitized people and subjected human behaviour and relationships to the power of algorithms.
We are already experiencing the beginnings of the third platform, which will digitize the rest of the physical world. Objects and places will be machine-readable, and subject to the power of algorithms. Like its predecessors, this new platform will unlock the prosperity of the companies in its ecosystem.
Disruptive technologies that jump-start the pace of innovation and provoke radical shifts in most industries are here to stay. Each has its own degree of technical complexity as well as its specific business implications. But together they create platforms for new and improved services.
Which is why blockchain plus VR/AR (virtual and augmented reality) or AI (artificial intelligence), for example, can be a match made in business heaven. Take a look.