Updated: Jun 28
Exclusive Trusted Magazine Q&A with Maher Mezher, Innovation Expert
What are the highlights of the key digital innovation trends for 2023? Can you give us some major examples / impact on organizations?
1- Digital payments, wearable devices & contactless solutions
Digital payments, wearable devices & contactless solutions are some of the new digital innovation trends that are shaping the future of business and commerce.
Digital payments, also known as electronic payments, are transactions that are made using digital channels such as mobile apps, online platforms, or digital wallets. Digital payments offer a more convenient, secure, and efficient way of conducting transactions, and they are rapidly replacing traditional payment methods such as cash and checks.
Digital payments are considered the best solution to avoid human contact especially during a pandemic. The total transaction value of the digital payment sector was projected to reach 9.5 Billion USD in 2023, so if you’re still considering, what are you waiting for?
Wearable devices such as smartwatches, fitness trackers, and smart glasses are becoming increasingly, popular among consumers. These devices offer a features such as health monitoring, activity tracking, and contactless payments. Wearable devices provide businesses with new opportunities to engage with customers and offer personalized experiences.
Contactless solutions such as Near-Field Communication (NFC) and Quick Response (QR) codes are also gaining popularity as a way to conduct transactions without physical contact. Contactless payments are faster, more convenient, and more hygienic than traditional payment methods, making them an attractive option for both consumers and businesses.
Overall, a strong digital infrastructure, including high-speed internet connectivity, is critical for businesses to succeed in the digital world. As new technologies continue to emerge, businesses must invest in their digital infrastructure to stay competitive and meet the needs of their customers.
2- Customer Data Platforms & Data Warehouses
In today’s digital era, data is being gathered and stored from every corner of the world to learn more about customer behavior, needs and pain points.
Indeed, as the volume grows and is spread across various platforms, the challenge of accessing and managing it becomes more significant.
A customer data platform is a technology that provides a unified, single source of customer data that can be used to create more personalized, products, services, communication and marketing campaigns. CDPs collect data from various sources and channels to create a 360-degree view of the customer. The goal of a CDP is to provide businesses with a better understanding of their customers, which can ultimately lead to increased revenue and customer loyalty.
Companies must invest in the proper technology & tools to collect, store and analyze this data efficiently. Additionally, they must have skilled personnel who can interpret and utilize the information to make informed decisions.
Failure to do so can result in missed opportunities and lost revenue.
Companies were so excited about Digital transformation that they jumped into adopting digital tools without taking into consideration the cyber risk… The rise of cyber-attacks has been a growing concern in recent years. More than 400 Million cyber-attacks were reported in 2020, which is a significant increase from the previous year. The pandemic has only made the situation worse, as many businesses have had to shift to remote work, which has created new vulnerabilities.
As a result, companies must prioritize cybersecurity and invest in the proper technology, process reengineering and training to protect their systems and data. Failure to do so can result in severe consequences, such as financial loss, reputational damage, and legal liabilities.
Tomorrow is about transforming our organizations safely…
4- Future Management Tools starting with AI
Emerging technologies like artificial intelligence (AI) are reshaping the business world and transforming the way we work. AI, in particular, has the potential to revolutionize the way we manage our businesses. From automating routine tasks to providing valuable insights into customer behavior and market trends.
By leveraging AI and other technologies, companies can streamline their operations, reduce costs, and improve efficiency. For example, AI-powered chatbots can handle customer inquiries and support requests, freeing up human agents to focus on more complex and human tasks, such as Creativity, Innovation, building relationships & Negotiation, to name few.
Similarly, machine learning algorithms can analyze large volumes of data to identify patterns and trends, enabling businesses to make more informed decisions. As these technologies continue to evolve, they will become even more powerful tools for achieving our business goals. However, it’s important to remember that technology is only one aspect of business success. To truly harness the power of these tools, companies must have a clear vision & strategy, a strong team, and a culture of continuous improvement through innovation.
In your opinion, how can they create high value for organization?
All the above mentioned Digital Innovations can only create value for organizations if led by the right roaster of digital leaders. So the question that I leave you with: are you preparing to transform your leadership team into digital leaders?
About Maher Mezher
Maher is regarded as one of the top experts in innovation & leadership, his ideas have been widely used throughout the world. He has launched the Fertility Loan, the first of its kind, gaining international recognition as the most creative and innovative in its products. Consequently, he spread worldwide recognition after being interviewed by more than 160 media stations like CNN, BBC, Reuters, Figaro, and M6, RUSSIA Today, and many others.
Maher is the Inventor of the Innovators Toolâ the first Innovation App built on sound effects, 3D animated images, dynamic quotes, sonic & strategic tailored questions that guides innovators to transform their creative ideas into innovations. He is as well the inventor of the Innovators Processâ the newly designed Innovation Process Patented in 158 countries, Maher is the inventor of the Become An INNOVATORâ Methodology leading to unprecedented growth in employee engagement and greater business profitability. He is the founder of Innovators League a leading Innovation consulting & training firm. He has been selected as Top 20 Asian Entrepreneurs “ Greater Than Success “ Published by Partridge part of the British publishing house Penguin.
Maher is a sought-after Innovation keynote speaker who presented at Harvard Club New York-USA, Utah State University-USA, Prague, Rome, London, Oslo-Norway, Stromstad-Sweeden, Lisbon-Portugal, Turkey, Jordan, Saudi Arabia, Dubai, Qatar, Kuwait, Muscat-Oman & several other countries delivering state-of-the art interactive keynotes.
He is a pioneer in the field of innovation & leadership as he launched 3 innovative Retail Banking products, which were worth being included as case studies in Harvard’s Business Review and Professor Philip Kotler’s “Principles of Marketing”, a textbook that will inspire future marketers during their university studies.
As one of today’s top innovators & to further reflect upon his known expertise in the field of innovation, Maher was selected to be a jury member in the Ideaz Prize TV show broadcasted on MTV Lebanon, a program that encourages young entrepreneurs to kick off their business start-ups.
Maher occupied an academic role as a lecturer at Saint-Joseph University, an instructor at the Bankers Academy in New York, a Chartered Financial Marketer “ ChFM ” & a lead trainer at the American Academy of Financial Management. He has advised & trained in different countries a substantial number of professionals & organizations in the field of Innovation & Leadership.