Personalization is expected to be the top category for tech investment this year 2021.
According to a Mckinsey report, personalization at scale has the potential to create $1.7 trillion to $3 trillion in overall new value (value captured in different ways – actual value of product/services, consumer surplus, revenue growth etc).
The innovation that happens on the product line as a result of this consumer expectation would be interesting to watch over the coming years. There will be a shift from the typical assembly line model to “personalized production”. As the article in the link below describes, meeting personalization demand is leading companies to increasingly automate their production processes and even make parts of it autonomous.
I am particularly interested in this because it is a departure from the often shiny digital innovation that catches the attention of the media. At this same time it could be very game-changing.