If there’s one area of growing discrepancy in B2B, it’s the area of technology amongst different generations. In our latest IPCT Dashboard, we see a higher involvement, and willingness to onboard new technology with the Millennial and Gen-Z generations. We decided to take a closer look to see what technologies are most prevalent for the future of B2B.
1) Artificial Intelligence: The applications of Artificial Intelligence seem to grow every day. Virtually every sector and profession now have AI implemented with dozens of new opportunities appearing daily. Both Millennials and Gen-Z continue to see opportunity for how their company can involve AI in its everyday problem solving. Some of the most common applications of AI are chatbots, social media automation, maps/navigation, image recognition (including facial ID) and recommendation engines. The generational “comfort level” with AI adoption is perhaps the most stark of all new technologies, with only 8% of Boomers seeing AI as extremely important, contrasted with a staggering 25% of Millennials defining it as extremely important.
2) APIs: Apple/Google Pay, mapkit js, Stripe API While only 13% of Boomers see their companies using API technology more in the future, 28% of Millennials see their company’s adoption of API technology growing in the future. The application and usage of API technology will only grow in the future, creating opportunity to not only use existing API technologies, but also to innovate and create new API use cases for customers. APIs allow brands to onboard external expert technology, without sacrificing their unique brand position and strengths.
3) 3D Printing / Additive Manufacturing: 3D printers can assemble a complex replacement part, using a layering technique usually with plastic or steel. 3D printers make these products quickly and at low cost using specialized “layering” machinery. Companies and brands love 3D printing because it provides a solution to the supply chain interruptions and product shortages prevalent in today’s economy. Industries such as Aerospace, Construction, and Automotive have moved at lightning speed to adopt this new technology due to its inherent benefits, its low cost, and its high level of customization, making it particularly well suited for prototyping. Again, the Millennial and Gen-Z generations show more excitement, higher willingness to adopt, and more use cases in the future for 3D printing than the older generations.
Ultimately, we see adoption when technology makes sense, and these three areas have real world examples of common-sense implementation. As a result, we see technology adoption growing in these three areas with the Millennial and Gen-Zers. Why try to create your own payment processing software when you can adopt a payment API? Why wait weeks (if not months) for a replacement part, when you can print one in the time it takes to read this blog post? The growth of technology depends on usage, and often we can see what new technology will work, and what won’t, when we look at the younger generation’s level of excitement.