The Product of The Future

Innovation in technology has led to the evolution of design and function of products over time. The products of the future are expected to be largely composed of virtual and physical elements, which will require increased complexity and connectivity. The creation of such products will involve collaboration in increasingly complex networks of manufacturers, suppliers, and consumers. The future product will not only be connected and reconfigurable but smart, and more of the value that it will offer will come from the services and processes that are layered on top of the physical object. This will require a shift in approach to design and development in which value creation will happen in collaboration. To increase the level of flexibility, many products or parts of products will be made specifically for users rather than being mass-produced. Companies may drop physical manufacturing of their products, and instead, focus on creating tools that invite users and other companies to use their designs and participate in co-creation. Such a model, however, requires a new way of thinking and a shift from designing to delivering finished goods.