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Thoughtworks’ Looking Glass is updated on an annual basis. Here are the technology-driven shifts set to shape business in 2023 and beyond. (Graphic: Business Wire)
For many, Web3 is virtually synonymous with cryptocurrencies, NFTs and other blockchain technology. Yet Web3 is best understood as a collection of building blocks that could serve as the foundation for a more distributed future of the internet. As governments and organizations adopt concepts such as decentralized identity, businesses should carefully evaluate Web3 technologies through the lens of tangible value for customers, to be ready for potential brand and commercial opportunities.
“For many businesses, the biggest Web3 opportunities are likely to emerge around reducing friction and digitalization,” said Dr.
The six lenses in today’s Looking Glass report are:
- Accelerating sustainability: Despite the urgency, sustainability is not yet ‘business as usual’ for many organizations.
- Platforms as products: Platforms need ongoing attention and to evolve and adapt in response to developer feedback and the changing business landscape.
- Evaluating Web3: Avoid getting dazzled by the hype and focus on what Web3 offers that is directly relevant to your business.
- Partnering with AI: Innovations in ML and AI are “trickling down” and becoming even more accessible, more embedded in the business and more productive.
- Making the metaverse: Other fast-advancing technologies including VR/AR/XR, voice, gesture and facial recognition, are already ‘here’ and likely to be more immediately relevant to businesses in a way the metaverse — at least for now — is not.
- Hostile tech: Balancing threats to security and consumer privacy with evolving regulations and simply doing the right thing will be critical to remaining competitive and fostering customer loyalty.
Thoughtworks’ Looking Glass is updated on an annual basis, to keep pace with the constant shifts in technology priorities and applications for businesses. Visit thoughtworks.com/insights/business to stay up to date with the latest business and industry insights for digital leaders.
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