Beyond the hype, what are the technology trends that will shape the future for businesses in north-east Scotland?
Advances in technology combined with the ongoing global economic and political maelstrom continue to drive uncertainty and create opportunity.
Digital transformation will continue to play a key role in 2022, with health-tech, life sciences and Web3, among others, continuing to provide disruption in the market.
In healthcare, a traditionally slow-moving market, the speed of innovation has dramatically increased.
Doctors using video calls for appointments, digital health passports and dashboards are all now part of the public consciousness.
Health professionals can now use sensor technology to supplement traditional care packages and understand behaviour patterns.
This can have a tangible impact on early detection and intervention for a range of conditions, including dementia and mobility problems, as well as many rehabilitation services.
Health-tech solutions create an opportunity to customise people’s healthcare with interventions focused on planning and care management, leading to more patient-centric, personalised and preventative care.
One example is Robert Gordon University data science MSc student Reji Jacob, one of the first participants of the One Codebase Tech Startup Fundamentals programme.
Having worked in the care sector for six years, he launched his company, Intelligent Frame, just this month.
His product monitors the health status of elderly people living independently and delivers information in real time via an app to the end user – a relative or healthcare professional.
The technology can be used to extend the time elderly people live independently and also by care homes to gather routine resident well-being information, freeing up staff for other duties.
Internet evolution
Web3 and blockchain technologies are ones to watch – there’s more to digital innovation than cryptocurrencies.
Opinions on what Web3 is exactly differ somewhat. It is currently work-in-progress and isn’t defined yet.
But the main principle is that it will be decentralised – rather than controlled by governments and corporations, as is the case with today’s internet.
A blockchain is essentially a digital record of transactions which is duplicated and distributed across the entire network of computer systems on the chain, making it difficult or impossible to change, hack or cheat the system.
Blockchain provides a key layer of Web3 – removing reliance on large commercial organisations and devolving control into the community that is generating value.
Outside of decentralised finance, we are still looking for the breakthrough application that will bring it into people’s everyday lives.
But blockchain is expected to play a vital role in supply chains across key sectors of the north-east economy.
Applications will range from the traceability of high quality food and drink products and digital passports for livestock to smart contract technology in the energy industry.
There are huge opportunities here for early adopters to transform their business through improved efficiency, traceability and transparency.
It’s an exciting yet uncertain time in the tech space. There’s lots of activity across the region, with all sectors involved.”
Local examples of firms already making huge strides include TrackGenesis, a blockchain-based software company building solutions for clients in the food & drink and fashion industries.
The team worked with Aberdeen-based Mad Potato to develop Scotland’s first blockchain-powered software platform to show the provenance of fruit and vegetables.
A QR code on Mad Potato veg boxes connects the consumer to whoever who has grown or produced the food, providing a true sense of authenticity.
The technology is highly scalable and transferable to other sectors.
In the energy industry, for example, there is the potential to use it in areas such as the repurposing of assets as part of transition and the creation of decentralised, trusted carbon footprint data.
Programmes like EnergyTech, delivered by Opportunity North East (One), CodeBase and Barclays Eagle Labs, are driving change, and helping energy sector businesses build their understanding of the role and impact of new technology for their organisations.
Looking ahead, it’s an exciting yet uncertain time in the tech space.
There’s lots of activity across the region, with all sectors involved.
Logan report highlighted north-east opportunity
I doubt if there has been as much opportunity to get involved in a tech-related business in recent times, from entrepreneurial education and start-ups through to corporate transformation.
The Logan report, commissioned by the Scottish Government, recognised the importance of technology and the potential for the north-east to play a crucial role in Scotland’s digital economy.
Implementing the Logan recommendations will drive digital technology development and adoption.
One is committed to support and actively participate in the national tech scaler network to positively impact the regional economy.
Grant Smith is chairman of the digital board at Opportunity North East.
