Smartphone is increasingly used in various financial activities
Online banking
Mobile banking
-
56%29%
Balance Inquiry
-
48%38%
Transfer Money
-
41%44%
Pay Bills
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To envision a sustainable, inclusive socioeconomic system,
Society 5.0 leverages several enabling technologies such as
Connected-sensors, Cloud, Big data, Artificial Intelligence,
combined with ubiquitous connectivity.
The convergence of these technologies will help develop
supporting solutions to strongly influence every dimension
(referred as ‘Digital Pillars’) of our society by completely
transforming our way of life.
Digital government is a critical element of a thriving digital economy. To achieve a successful transition, governments must work in synergy with private businesses to provide 5G networks and data centers, promote digital understanding among citizens, and enable secure access to services and data through digital identification systems such as biometrics.
Developing a national digital transformation ecosystem and building an innovative and inclusive digital economy can create innovative services and business models.
Digital finance includes a variety of products, applications, processes, and business models largely relying on Cloud services, Big Data, AI, and biometrics that have transformed the way traditional banking and financial services are delivered.
Digital transformation has empowered financial institutions to significantly reduce documentation involved in processes such as customer offer acceptance, customer identification, transaction monitoring, and risk management. Service providers are able to customize value-added services more effectively and securely with additional trust reinforced through Blockchain, enable innovative use cases to improve customer experience, and increase operational efficiency.
Tech innovations are not just disrupting the entire landscape of healthcare systems, but also are streamlining physicians’ work, reducing human error, optimizing systems, improving patient outcomes, and lowering costs of overall care. These innovations play an even more critical role in the context of aging societies.
Technologies such as AI-enabled medical devices, Blockchain-backed Electronic Health Records (EGRs), and Telemedicine are some examples of digital solutions that are completely reshaping how we access healthcare, how decisions are made about health problems, relevant treatment plans, and how data is shared among care-providers, insurance providers, government agencies, and other relevant stakeholders.
Public transportation is benefiting from cutting-edge technologies. These past few years have witnessed an explosion of transit data and standardization; as a result, cities are able to provision real-time data to offer optimal combination of public transports to get from point A to point B and manage various travel nuances. In addition, biometric technologies are now enabling more accurate and efficient identity verification processes at airports.
Innovation in digital transportation is essential in private mode of transport as much as it is in public transportation. Automakers are integrating a wide range of digital solutions to enhance the overall driving experience through autonomous drive-mode, preventive maintenance, remote monitoring, customized media services, and more. There are also evolving developments in the external driving experience such as vehicle-to-vehicle communication and advanced navigation services. In addition, new ICT-based business models benefiting the customer will arise such as usage-based insurance, new finance and leasing, ride-share, connected cars bringing in-vehicle e-commerce, telematics, and more.
How Society 5.0 achieve a greener environment
Sustainability is the ability to exist constantly, and the exploitation of resources, direction of investments, orientation of technological development, and institutional change are all in harmony and enhance both current and future potential to meet human needs and aspirations. For these reasons, this pillar is more a lintel, as it has implications in all other pillars.