Ever Changing World of Technology
The most important part of the brief was to search for an upcoming or latest technology. It involved seeing new concepts and videos about technological innovations. I am not a person who is up to date with every new tech thing out there. So this search was way more exciting and eye-opening for me. There are products which common man doesn’t even know about. The things we see in movies like Iron man or James bond are already developed to an extent or are in their concept stages like the wearable tech bangle or Spatial AR.
For the Coutts brief, I considered mainly three technologies
‘Alongside AI and automation, virtual reality (VR) and its closely related cousin augmented reality (AR) have been touted for several years now as technologies likely to have a profoundly transformative effect on the way we live and work’ (B. Marr,2019). It is a technology of the future. For many years it is being developed into different iterations and is predicted to become a major thing in next 2 or 3 years. Through Augmented Reality, Coutts client can have a discussion or chat with their private wealth manager anywhere. For example, if they are out on a holiday or on a flight, and want to contact their wealth manager in person they can simply do it using an AR headset. They can exchange information, documents and many other things also.
But for this brief, AR was not ticking all the boxes. Firstly AR headset is not very compact right now, so Coutts client will not be able to carry it everywhere. Secondly, it just provides very limited value to the customer. It just can be used to contact someone and have a chat with it. It will be difficult to build it as an indispensable part of their lifestyle.
Another tech I considered was of Smart Glasses. Unlike AR glasses are much more convenient, and you don’t get cut off from the real world while using them. But they are not a successful technology. Google spent years in developing smartglasses, but when they came out in the market, they were a failure. People don’t want a screen so close to their eyes all the time. On the other side, Microsoft Hololens is taking leaps and bound in their development but they are not too portable and convenient as of now.
Although not latest they are taking incrementally changing with time. Earlier there were only brands like Apple or Samsung making smartwatches, but now high-end watch brands like Breitling, Tag Heuer, Mont Blanc are all making smart/hybrid watches. I thought this will be the best technology for Coutts. As these can combine Luxury and technology in the best way. Other than that everyone likes to wear a watch. HNWI wear watches that can match their status symbol. This is why I went on with this technology for the brief. It is on their fingertips, gives access to all kinds of information, serves as a status symbol and has the potential to be an indispensable part of their life.