When technologies are harnessed to work together, 1 + 1 can equal a lot more than 2.
To explain: 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 now at the dawn of the third platform, which will digitize the rest of the physical world. On this platform, all things and places will be machine-readable, subject to the power of algorithms. Like its predecessors, this new platform will unleash the prosperity of the companies in its ecosystem.
Technologies such as these catalyse the pace of innovation, introducing radical shifts in most industries. Each has its own degree of technical complexity as well as its specific business implications, together with potential shortcomings when viewed by itself. But these limitations can be addressed effectively by combining different technological ecosystems.
Which is why blockchain plus VR/AR or AI, for example, can be a match made in business heaven. Take a look.