As technologies push forward, it is expected that a device as indispensable and variable as the mobile phone, is the main engine of change and the starting point of the industries of the future.
There is currently no industry that disengages itself from the revolution and mobile transformation going on. We are no longer talking about “Responsive” or having an app; we are talking about a new and very different way of doing things, in each of the industries.
Let’s start with one that probably does not come to mind: meteorology. Is it really relevant to talk about this? Both the research meteorologists and those who share and pursue the news in the field, have seen the need to change their sophisticated and complex equipment by mobile phones. The coverage of some phenomenon is reduced to the connection they may have and how far they can get with, or rather without, their equipment.
The last eclipse broadcasted in Argentina had the 4th world ranking of views. What made better streaming possible was the simplification and improvisation of the necessary equipment, just with the mobile phone.
The natural disasters of 2017 were immediately known, covered and responded to thanks to mobile devices. As obvious as it may seem, we must think about the challenge this represents for those experts in this area who have studied how to investigate and report news with heavy research teams and they are nowadays immersed in a world with more compact and accessible mobile devices that surely require more creativity on the one hand but offer many more possibilities on the other.
By 2017 the population of Argentina surpassed 44 million people, out of which approximately 30 million have mobile devices, but there are at least 63 million telephone lines. That is about 2 per person! If these numbers have not convinced you yet, 70% of users check their cell phone every 30 minutes and spend an average of 6 hours a day connected to their cell phones. Isn’t that a revolution? There is no other way to live nowadays.
Now, if we believe that the future of mobile is still electronic devices, we are wrong. The disappearance of the telephone is already foreseen. Indeed, there are already “E-Fabrics” and several multidimensional immersive technologies. Of course there are still a few years left. Before they disappear for good, the first stage will be with the disappearance of devices as interfaces, as we know them today.
The industries with the most growth potential in Mobile
Let’s talk now about the industries that we believe still have a lot of growth potential for Mobile.
Keeping that mindset of “integration” is to condemn oneself to becoming irrelevant overnight.
Here there are some numbers in order to understand the banking situation in Argentina in transition from Traditional Banking to Fintech Boom:
-60% of the people included in the banking system use traditional banking.
-80% own a Smartphone and are managed by the mobile application.
-73% think that branches are important
Even so, they only go to the bank on average once a year!
Banking is already preparing itself to optimize human interaction. Nowadays there are several projects in Argentina of Digital Banking, and several with facial recognition as a consequence, among other things, of possibilities for the new regulation of the BCRA. If you want to know more about the status of Fintech in Argentina, check out our 2017 Fintech Report!
In any case, this does not mean that the Fintechs are the competition of banking but rather the technological evolution that accompanies the evolution of human beings interacting with more usable and useful organizations and interfaces.
Have you ever visited Paris or walked the streets of Rome? Maybe at least you have stopped on the shores of some paradise or delighful beach in the Caribbean listening to the sea and the birds, looking around to see if everything is true, until you are ready to touch it, and you realize that you have the Virtual Reality lenses on. Has it ever happened to you? This is how tourism companies are selling their products and services nowadays, taking advantage of the possibilities in this industry that is adapting to this Mobile world with VR. The complexity of a reservation, the flight, the setbacks, the recommendations, choosing the perfect place, the claims, the returns and everything that comes with a trip is now reduced to the cell phone, and to the maximum benefit that the company can get from this, so that the user feels closer and more comfortable with the process.
The technological disruption has had profound consequences in the world of entertainment, especially music, which has had to reinvent itself and devise new forms of income to remain profitable.
Music (with more than 400 hours of video uploaded per minute to YouTube) and video games, are perhaps the two branches with the greatest potential to take advantage of the Mobile Revolution. The concerts and all the “live” experiences are providing an increasingly pleasant experience thanks to Virtual Reality. Haptic experiences such as those of Voyager not only provide a fun experience in VR, but sensory and increasingly real.
Immersive reality ecosystems are being projected to enjoy any type of music or concert, with all the nuances of the experience, from the community of the house, office or basically anywhere. This goes far beyond virtual reality. The project of the Argentine company VRTIFY is foreseen for 2019.
What about the world of news and communication? Magazines, newspapers, and television are digitally consumed. And research and science? Medicine? Construction and agriculture? For these and for many others, traditional revenues are no longer profitable. It’s time to reinvent themselves.
The challenge is cultural and requires an agility to which companies are not yet accustomed. This challenge is summarized in four words: Revolution, Immediateness, Experiences and Veracity.