This Week's Herman Trend Alert

Leadership in Normal 2.0
 

  The Herman Trend Alert

February 10, 2016

The Future of Wearables

The Wearable Technology industry is growing quickly. These companies face new risks for which they must prepare. Their awareness of these threats and creation of protective strategies can help them focus on growth opportunities.

How Does Wearable Technology Work?
Wearable gear in the form of watches, eyeglasses, and more, integrates the form and function of multiple devices. Most of these work in a similar manner. Multiple sensors capture changes in position, temperature, etc. and translate them into data. "Then, microprocessors extract, transform, and load data to a transmittable format. Finally, transmitters wirelessly send data to cloud storage for further processing and reporting."

A Variety of Applications
Driven by the healthcare industry, the corporate sector, and consumer demand, the wide array and number of applications ranging from health and fitness monitoring to employee monitoring and safety will increase very quickly. According to PwC, over 80 percent of consumers believe that an important benefit of wearable technology is its potential to make healthcare more convenient. Moreover, 68 percent said in exchange for lower health insurance costs, they would be willing to wear employer-provided wearables that streamed anonymous data to an information pool.*

What Are the Risks?
There are three main categories of risks the wearable tech companies face:
1. Cyber risks. The data transmitted via wearables must be properly secured; otherwise, companies are at risk of class action lawsuits, costly fines, and injury to their reputation.
2. Bodily injury risks. Malfunctioning devices can cause injuries, illnesses, and even death to wearers or patients. Manufacturers of defective devices may even face product liability lawsuits.
3. Technology errors and omissions risks. Companies can be held liable for economic losses from the failure of their devices to work as intended.

What Consumers Must Do
Make sure that any wearable device you wear already has a good track record. Keep your own information protected by using strong passwords and changing them regularly.

The Future for Wearables
The future for wearables is very rosy. The potential to help people get and stay healthy using wearables is huge. The other opportunity is for monitoring people with long-term chronic diseases, so that they may be medicated appropriately. We have only begun to see the power of wearables.

* PricewaterhouseCoopers LLP. (2014). Consumer Intelligence Series: The Wearable Future. Retrieved from http://www.pwc.com/us/en/industry/entertainment-media/publications/consumer-intelligence-series/wearable-technology.jhtml. Download the full white paper here: The Wearable Revolution Has Arrived from Travelers.


© Copyright 1998- by The Herman Group, Inc. -- reproduction for publication is encouraged, with the following attribution: From "The Herman Trend Alert," by Joyce Gioia, Strategic Business Futurist. 336-210-3548 or https://hermangroup.com. To sign up, visit https://HermanTrendAlert.com. The Herman Trend Alert is a trademark of The Herman Group, Inc."

HOW DOES SHE DO IT?
Our author Joyce gets quoted in TIME Magazine and other national media on a regular basis. You can, too! Sign up for ExpertClick.com. You will be found by the news media and in Google search: 1. Through your personal search-engine-optimized press room by 39 topics you choose; 2. By news releases pushed out 10 ways including Google News; 3. Be found in the 2020 printed Yearbook of Experts, Authorities & Spokespersons. Save 15% when you register by October 31st @ http://www.ExpertClick.com/Discount.

APF'S FUTURES FESTIVAL IN 3 DAYS: ONLINE OCTOBER 24TH: FULL SPECTRUM FUTURES
The Association of Professional Futurists proudly presents its annual online learning experiences on Full Spectrum Futures. Network with leading futurists from all over the world. And best of all, it's free to attend, though contributions are encouraged to help defray costs. For more information, visit here.

OUR VERSATILE TRANSLATOR ROCKS!
Excellent translation services from English, French, or German into Spanish. Especially well-versed in medicine/pharma and automobile industries. 5-year Bachelor Degree in Translation. Also editing and proofreading of all kinds of Spanish language documents. Flexible rates, depending on number of words, degree of difficulty/technicality, and turnaround. For an instant quote email Mariana Campora Lesti at marianalesti515@gmail.com or contact her on SKYPE at marianacampora.

To read this Herman Trend Alert on the web: https://hermangroup.com/alert/archive_10-21-2020.html.


Herman Trend Alerts are produced by the Herman Group, strategic business futurists, Certified Management Consultants, authors, and professional speakers.

New subscribers are always welcome. There is no charge for this public service. The Herman Trend Alert is read by over 30,000 people in 90 countries, including other websites and printed periodicals. Click here to sign up for the Herman Trend Alert.

Do you enjoy receiving this weekly e-mail update? Contact us about our co-branded Herman Trend Alert service.


Subscribe or Unsubscribe to weekly Herman Trend Alert
View this week's Herman Trend Alert
Archived Weekly Herman Trend Alerts

                                                                                                                                                                                                                                                                                                                                                                         


[ Home About Products Resources Media ]

 

7112 Viridian Lane
Austin, TX 78739
Voice: 336-210-3548
Toll Free in US & Canada: 800-227-3566
E-mail: info@hermangroup.com


  © The Herman Group. All rights reserved.

Web site design by WebEditor Design Services, Inc.