Smartphones, software key to achieving erstwhile dotcom dreams

WE believe many of the unfulfilled dreams of the dotcom era are finally being realised as the convergence of hyper- connected consumers and increasingly sophisticated information technology and software allows companies to provide services that seemed impossible even 10 years ago. Such changes are creating opportunities within many industries such as transportation, financial services and agriculture, which are often not thought of as technologically advanced.

Take, for example, ridesharing companies. The services they provide are possible only with the advances in GPS, cloud and payment technologies that are available today, along with the ability of consumers to utilise the service through their smartphones. Their success is also partly due to the intuitive software used, which most people can handle easily.

In the financial services area, banks are no longer as reliant on their physical branches, as customers are conducting an ever increasing amount of their business online - particularly from their smartphones. With the push of a button, customers can deposit cheques or transfer funds between accounts. Banking via smartphone has become so prevalent that, for most consumers, a bank branch is largely unnecessary; most activity can easily be done from home, the office, or even a commuter train.