HP Innovation Journal Issue 06: Spring 2017 | Page 6

Payment habits of Millennials 52% Use smartphone as mobile payment device 22% Use wearables as a payment device daily/weekly 41% Use their phone to make a payment at least monthly 26% Expect to use digital currencies daily or weekly by 2020 world with a diverse set of local requirements. It’s now easier than ever for start-ups to scale globally, and for emerging market companies to become real challengers to established mul- tinationals. This challenge will disrupt markets and business models. Companies around the globe must constantly reinvent themselves to stay competitive, and they must do so at a faster and faster rate. Companies that succeed will also have to be ready to handle new forms of payment, as for how consumers buy and pay for prod- ucts and services is being increasingly digi- tized. People across the globe will soon be transferring data instead of cash. Online and mobile payments will lead to near-cashless societies in Norway, Denmark, and Sweden within 5 years. This trend is supported by Millennials — those born between 1982 and 2004 — around the world. However, with the speed of global technol- ogy adoption also comes with an increased risk of cyber-attacks. Information is power, and cyber-attacks are hard to attribute as witnessed by the recent Democratic National Convention email hack during the US election. There will be an increased emphasis on tech- nology companies to innovate and achieve much higher degrees of trust and resilience. Accelerated Innovation The pace and breadth of innovation continue to accelerate. As new technology components 6 Innovation Journal · Issue 6 · Spring 2017 29% Expect to use PayPal at least weekly by 2020 13% Use digital currencies today daily or weekly mature and become commoditized, they transform into building blocks for new break- throughs. Emerging technology trends like Hypermobility, 3D Transformation, Internet of ALL Things, and Smart Machines will har- ness advancements in computing power, con- nectivity, and immersive computing to deliver richer experiences. The rise of AI will lead to massive auto- mation of tasks, manufacturing, and our workforce. The trajectory of manual job au- tomation continues with the adoption of in- dustrial and services robots across industries. However, it’s not just manual tasks that are being automated. AI and robotics are being put to work performing high-level cognitive jobs from healthcare diagnosis to publishing and advertising, and even making investment decisions in the boardroom. This “smart movement” will impact every aspect of our lives, with intelligent agents and bots always at the ready, orchestrating our everyday activities. The possibilities are endless for a Man + Machine-enabled world. So how will these trends shape HP’s future strategy and innovations? HP uses Megatrends to inform strategic, ac- tionable choice points for our products and services. Megatrends give HP a directional look at how markets, industries, and behav- iors are changing, and what type of solutions might be needed to overcome the challenges and demands of those shifts. Looking at short and long-term time intervals, HP identifies key technology ad- vancements and new solutions that have the potential for the greatest impact. Starting with a pivotal choice point of deciding whether a new technology should be merely observed, is an incr