All industries, including product-based businesses, are subject to near-constant technological evolution. Technology-based developments such as the rise of e-commerce, increasingly automated manufacturing, and data analytics are dramatically changing industries, and in the near future technology is poised to revolutionize the way companies create, market, sell, and deliver products. I am. To consumers.
Below, members of the Forbes Technology Council share their predictions and insights about the new and emerging technologies that will have the biggest impact on product-based businesses over the next five years. Stay ahead of the curve and learn what advances will revolutionize your industry by 2030.
1. Forming products using AI
Technologies like AI fundamentally transform product development models. 90% of formulations will be completed virtually before touching the physical ingredients, reducing innovation cycles from years to months. The most interesting thing is that a new kind of competition will arise. As AI democratizes product development, consumers themselves will become creators of next-generation products such as sauces, detergents, and cosmetics. – Manmit Shrimali, Turing Labs Inc.
2. Generative AI
The biggest revolution in technology today is generative AI. Although GenAI tools are improving at a slower rate, they are already having a significant impact on product innovation, product discovery, process improvement, documentation, training time, and efficiency. Leaders should spend an hour a day learning about the impact of these new technologies on their specific industry. – Todd Loofbarrow, Viral Gains
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3. Faster feedback and development cycles
AI will change the landscape of traditional product development. Tasks that used to take months or years now take weeks or months. The ability to truly reach customers faster and gather feedback quickly eliminates the notion of product success or failure. Product teams can receive customer feedback more quickly, allowing them to adjust their products to further strengthen their value proposition. -Raja Epsilon, WrkSpot
4. AI-driven search engine SEO
As every search engine implements AI, AI-driven engine SEO (some refer to it as “GEO”) becomes increasingly important. Companies with well-reviewed products and high rankings in Google searches should also consider their presence on emerging engines like Perplexity. Product companies must readjust their marketing and sales strategies to adapt to AI-driven marketing and sales. – Siddharth Gawshinde, Consultadd Inc.
5. “Standard” AI and Machine Learning Capabilities
Advances in artificial intelligence and machine learning will continue to have a significant impact on product-based businesses in the coming years. AI and ML capabilities will move from “advanced” features to standard features that consumers expect. AI optimizes the product development process for efficiency with better demand forecasting, supply chain management, and personalization capabilities. – Agastya Kumar Komaraju, Amazon
6. AI agents for service and operational tasks
AI agents will have a huge impact over the next five years. Every product-based company relies on a number of services built around tasks such as answering emails and phone calls, creating and editing spreadsheets, and creating reports to summarize information. AI agents can automate many of these tasks, doubling the output of the workforce and enabling companies to deliver products faster at lower costs. – Jeff Mahler, Ambi Robotics
7. 3D printing and additive manufacturing
3D printing and additive manufacturing have a huge impact on product-based businesses. These technologies enable on-demand, customized production, reducing costs and speeding time to market. Enabling companies to create prototypes and final products more efficiently fosters innovation, enables more flexible supply chains, and transforms the way products are designed, produced, and delivered. – Paul Kovalenko, Langate Software
8. Automation fabric
Customers expect faster, more customized, and higher quality products. Emerging technologies such as Automation Fabric are reimagining product-based businesses by automating applications, processes, and data across an evolving technology stack. This enhances workflows, improves quality, provides personalized customer experiences, and reduces the burden on employees delivering products and services. – Charles Crouchman, Redwood Software
9. Generate and refine ideas using AI
As we build out our AI and machine learning infrastructure, we are poised to unlock unprecedented creative potential. Generative AI, in particular, has the power to revolutionize industries by accelerating the generation and refinement of ideas. Its impact extends far beyond the arts, transforming infrastructure, technology and innovation to create breakthrough and efficient solutions. – Daniel Keller, InFlux Technologies Limited (FLUX)
10. AR and VR-enhanced shopping experience
Augmented reality and virtual reality are transforming the way customers interact with products before they buy. These technologies improve the customer experience through virtual product demos, immersive shopping experiences, and complex product training simulations. – Stefan Pampulov, BOSSCAT Home Services and Technology
11. Quantum Computing
Quantum computing will have a fundamental impact on product-based businesses. Its ability to solve complex problems exponentially faster than traditional computers will revolutionize industries such as logistics, materials science, and pharmaceuticals. Quantum computing drives innovation in product development and supply chain efficiency by enabling faster simulation, optimization, and data analysis. – Kalyan Gottipati, Citizens Financial Group, Inc.
12. Predictive analytics
AI-powered predictive analytics is revolutionizing product-based businesses by optimizing research and development, streamlining supply chains, and predicting consumer trends with unprecedented accuracy. This technology enables faster data-driven decision-making, reduces costs and time to market, and ensures products are perfectly aligned with evolving customer needs. – Katerina Axelsson, Tastry
13. Tracking consumer behavior
Consumers want instant access to deals and products that meet their specific needs. This means retailers need to focus on AI-powered insights by tracking consumer behavior and preferences at every stage of the shopping journey. This allows retailers to create personalized experiences. This is more important than ever, especially when inflation intersects with the stress of seasonal holiday shopping. – Bernadette Nixon, Algolia
14. Digital Twin Ecosystem
In a digital twin ecosystem, physical products automatically generate and maintain virtual replicas that simulate usage, predict maintenance needs, and collect real-world performance data. The transition from isolated digital twins to interconnected product networks will revolutionize the way companies develop, test, and improve their products, with innovations based on real customer behavior patterns. -Chandra Kuchi, xAI
15. Digital Product Passport
Digital Product Passports are a game-changer for product-based businesses. These records are built on blockchain and decentralized technology and represent the life history of an item from procurement to disposal. As the circular economy expands, it will be important to have such a passport to monitor reuse, recycling and waste minimization, changing the way companies approach production. – Dr. Reji Thomas, TOL Biotech
16. Focus on community building
With AI, product-led growth disappears for most companies. As product development becomes more efficient and faster, growth efforts will lean more toward community building (also facilitated by AI). – Peter Benay, Intercept Scale
17. Intelligent document processing
The pharmaceutical industry, one of the world’s largest, stands to benefit greatly from AI-powered intelligent document processing that extracts thousands of data points and provides drug manufacturers with insights into the life cycle of drugs. You can. IDP benefits include market performance and future opportunities to shape drug pricing, production volumes, and rebate strategies. – Jesse Todd, EncompaaS
