Public Sector Innovation and New Technologies
Let’s take a look at some of the key trends and developments that are currently occurring in the government technology space.
Our recent blog about blockchain broke down some of the main features of this incredible technology in a simplified manner. Blockchain has the ability to change the way governments process and handle unimaginable amounts of information on a daily basis. The possibilities for public sector innovation are huge – there are some great examples of governments around the world adopting blockchain technology, for uses that range from healthcare, secure banking services through to national identity management systems.
Internet Of Things (IoT)
The Internet of Things introduces a new level of increased connectivity and provides businesses and government with the ability to use this connectivity to provide a better customer experience. IoT can provide a significant improvement in important areas, ranging from predicting maintenance requirements and improving management of resources. It has been estimated that this tech has the possibility to provide an economic impact of $4 trillion to $11 trillion by 2025.
Artificial intelligence is already being employed by a number of industries, including the public sector. AI is particularly suited when it comes to data sorting and analyzing, which makes it particularly appealing to government. Through the assistance of artificial intelligence, governments have the ability to improve overall efficiency in the tasks that matter to the public.
What will the public sector look like in the next 5 year?
In the next five years, the GovTech industry is projected to grow exponentially whilst completely changing the way we live and how we are able to interact with our government. These developments aim to boost public sector productivity and maximize efficiency in public service provision, from public transportation (like Citymapper) to welfare payments (like Govcoin).
Everyday tasks like travelling to and from work, requesting personal information, engaging with different agencies and even finding a place to call home will become a simplified and smooth process. In order for this to become a reality, governments around the world will have to invest more into the technologies and develop a further sense of trust with organisations and startups working in the GovTech sector.