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Smart AI fashion boutiques will use scanners to create individual “tailored†garments, reducing the need for retailers to stock expensive inventory while ensuring a perfect fit. Haptics – a wearable technology that lets you feel warmth and touch – has been cited as the future of the gaming and education industries. These are the predictions of four of Britain’s leading futurists and consumer affairs experts behind the NatWest Future Businesses report, which offers a vision of what UK industry could look like by 2036.
The report was commissioned by the bank to inspire the next generation of start-ups and SMEs and written by leading futurist Dr Ian Pearson, consumer business guru Kate Hardcastle, Shivvy Jervis, founder of FutureScape248 – the lab award-winning human-centered innovation – and futurist and author Tom Cheesewright. The panel revealed that in the near future, travel agents may let vacationers “try before they fly” through virtual reality experiences and that daily commutes may take place in high-speed personal travel pods to avoid traffic jams in the city.
The protein-rich bugs served by “bug burger bars†are set to become the fast food of choice, with fried grasshoppers or a worm burger replacing the late-night kebab. While AI fashion stores could use technology to design perfectly tailored clothes.
Futurist Dr Ian Pearson, one of the authors of the NatWest Future Businesses report, said: “The NatWest Future Business report helps paint a picture of the changes we may see in the business environment over the next 15 years. What was clear to all of us was how greater interaction with technology would revolutionize businesses and transform almost every industry.
“One thing the whole panel agreed on is that this is not the end of our shopping streets, which will thrive if businesses can offer good reasons to go. In the long run, more than 50% of retail businesses will still be located in big box stores, with predictions like AI personalization and insect food stores showing how businesses could adapt to. the future.
The report says farmer robots or drones, like those seen in the 2014 film Interstellar, will help meet humanity’s growing food demand – estimated to increase 98% by 2050. Human health will be enhanced by the smart toilet with the power to analyze urine and stool for fatal diseases such as diabetes and cancer.
Despite fears that robots will steal jobs from humans, only four percent of those polled believed their work would become completely obsolete by 2036. Almost two-thirds (64 percent) admitted their skills would need to scale up. over the next 15 years to keep up with technology – and 52% said they want to work with robots by 2036.
Andrew Harrison, Managing Director of Corporate Banking at NatWest, added: “As this landscape evolves, NatWest continues to be the biggest supporter of UK small businesses at all stages of development.
“From our Dream Bigger program in schools encouraging young people to explore entrepreneurship; our fully funded Business Builder initiative for start-up entrepreneurs; and our Entrepreneur Accelerator hubs for high growth, green and diverse businesses, our vision is to help more businesses start, grow and succeed.
The NatWest Future Businesses report is available here. To see how NatWest is supporting businesses across the UK, you can also watch Alison Hammond spend a day as an intern with a selection of companies from across the UK as part of NatWest Backing Businesses’ partnership with ITV. .
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