Hardy Sidhu, CEO of digital accelerator Format-3, shares insights on the upcoming shifts in digital experiences, focusing on value creation and integrating innovative technologies.
The landscape of digital technology continues to evolve, with significant advancements anticipated in the coming years. Reflecting on the rapid developments since the turn of the millennium, Hardy Sidhu, CEO and Founder of digital accelerator Format-3, shared insights into future trends that are expected to shape the digital experience for consumers. Format-3 is recognized for its work in creating tailored digital platforms that assist brands in establishing their presence in a competitive market.
In an interview with UK Tech News, Sidhu highlighted a notable shift toward creating value rather than simply releasing new digital tools. He remarked that businesses are increasingly focusing on investing in their own digital ecosystems, leveraging technologies such as generative AI, decentralized networks, and augmented reality (AR). He expressed enthusiasm about the potential these advancements hold for enhancing user experiences and driving meaningful impact.
Generative AI has been a prominent topic throughout 2024, and Sidhu shared his observations about its trajectory. He noted that leading companies are transitioning from merely creating novelty applications to tools that can facilitate significant business transformation. “The possibilities are limitless,” Sidhu stated, pointing to use cases in e-commerce where generative AI allows consumers to co-create products or marketing platforms that generate personalized campaigns in real time. He emphasized the importance of ethical and transparent application in sectors like legal and healthcare, citing the challenges of maintaining efficiency and trust in these areas.
The conversation then shifted to the concept of super apps, which have gained substantial popularity in Asian markets. Sidhu pointed out that similar models are emerging in Western markets, as evidenced by companies such as Uber, which has diversified its services beyond transportation. He explained that the success of multi-service platforms hinges on maintaining a unified and engaging customer experience. For brands without an established user base, Sidhu advised focusing on niche markets and crafting targeted solutions that resonate with specific audiences.
Embedded finance has also surfaced as a significant trend, enhancing the way users interact with brands. Sidhu underscored the importance of a seamless purchasing experience, stating that interrupting a customer’s process, such as redirecting them to another page, can lead to abandoned transactions. By integrating payment options directly within apps, brands can streamline the customer journey, thereby increasing both sales and customer loyalty.
As for augmented reality, Sidhu anticipates a breakthrough in 2025, with retailers already utilizing AR to enhance the shopping experience. He noted that this technology allows customers to “try on” products or visualize items in their own spaces before making a purchase. With AR becoming more accessible through smartphones, businesses are encouraged to incorporate it into various applications, from remote collaboration to education.
In closing, Sidhu offered advice for businesses preparing for the digital future. Adaptability remains crucial as the only constant in technology is change. He urged companies to remain curious, deeply understand their audiences, and collaborate with experts to capitalize on emerging trends. The path to success in 2025 will demand innovation and strategic thinking, pushing beyond conventional approaches to capture new opportunities in the digital realm.
Source: Noah Wire Services
