Foresight of the global digital trends

• Main Author: Kostin Konstantin B.
• Format: Article
• Language: English
• Published: University of Novi Sad - Faculty of Economics, Subotica 2018-01-01
• Series: Strategic Management
• Subjects: global digital trends; international business; foresight; augmented reality; international tourism
• Online Access: https://scindeks-clanci.ceon.rs/data/pdf/1821-3448/2018/1821-34481801011K.pdf

The purpose of this article is to examine the contemporary developments of the global digital trends and investigate the most perspective digital technologies crucial for international companies. The relevance of foresight methodology application is justified. The paper's focus is on future trends of digital technologies by providing a brief literature review in the fields of digital technologies and relevant marketing resources. Key assumptions, expectations and uncertainties about the future are re-evaluated. It is justified that long-term thinking is crucial to frame future strategies not only for governments and citizens but also for both small and international companies. Three global trends within the field of digital technologies are investigated: artificial intelligence, block chain and big data. The marketing resources which are currently arising and developing with the highest potential of dominating and revolutionizing the future of marketing are described: internet of things, social media, virtual and augmented reality. The author used the example of augmented reality expansion and development as one of the most promising global trends. Survey methodology was applied to evaluate the potential of augmented reality (AR) application using one of the most promising international industry adopters: the tourism industry. The AR mobile apps generated $ 2 billion in revenue as of the end of 2016 and according to the investigations the AR market could grow to $120 billion by 2020. The research results have shown that 84% to 100% of generation Y & Z consumers, whose consumption patterns would shape future demand, see clear benefits in using augmented reality applications in tourism industry.