DECEMBER 2021
TRENDS & INNOVATIONS SHAPING
THE GLOBAL TECH SECTOR
Important disclosures appear at the end of this report.
GP Bullhound Corporate Finance Ltd and GP Bullhound Asset Management Limited
are authorised and regulated by the Financial Conduct Authority.
GP Bullhound Inc is a member of FINRA. GP Bullhound Hong Kong Limited
is authorised and regulated by the Securities & Futures Commission.
2
Contents
04 THE VIEW FROM GP BULLHOUND
24 EXPERT VIEW
Liz Wessel, WayUp
05 TECHNOLOGY PREDICTIONS 2022
06 RECAP OF 2021 PREDICTIONS
08 SNAPSHOT OF WHAT'S SHAPING TECH
FOR 2022
10 PREDICTION 1
Creating a new economy
12 PREDICTION 2
The rise of decentralised finance (DeFi)
14 PREDICTION 3
Technology supercharging supply chains
16
Peyman Zamani, Logicbroker
EXPERT VIEW
18 PREDICTION 4
The next ARMs race
20 PREDICTION 5
The new virtual playground
22 PREDICTION 6
Technology driving diversity, equity and inclusion
26 PREDICTION 7
Wearables strike back, powered by artificial
intelligence
28 PREDICTION 8
The global semiconductor shortage
28 PREDICTION 9
Artificial intelligence automating healthcare at
all levels
30 EXPERT VIEW
Jason Krantz, Definitive Healthcare
32 PREDICTION 10
The future of payment
A LOOK BACK AT PAST
PREDICTIONS
34
40 METHODOLOGY
41 DISCLAIMER
3
The view
FROM GP BULLHOUND
Authors 
 In its 15th year, our Technology Predictions report analyses how the latest trends and the leading visionaries in these
ecosystems are shaping our future. Our methodology in selecting the coming year’s predictions is shaped directly by our
experience in working with the world’s leading entrepreneurs and cutting-edge technologies, balanced with unique market
insight gathered across our global network.
2021 has witnessed record-breaking growth in global technology M&A activity, driven by the need for companies to stay
competitive and innovative during the unprecedented times we are in, which is considerably changing consumer habits.
Companies are also rethinking their supply chains due to shifting geopolitical relations, trade wars, and environmental concerns.
Driven by critical component shortages, such as semiconductors, and internalisation of supply chains, the global supply chain
landscape looks unprecedented. While the momentum of the tech world shows no sign of slowing, it is of tremendous
importance to understand and navigate regulation wisely as it will continue to be the theme that factors how everything moves
forward.   
Per Roman
MANAGING PARTNER
Alec Dafferner
PARTNER
Jennifer Eller
VICE PRESIDENT,
INSIGHTS
VICE PRESIDENT
Okan Inaltay
Garrett Vaz
VICE PRESIDENT
Gerry Kelliher
ASSOCIATE
Maria Lazareva
ANALYST, INSIGHTS
Daniel Roberts
ANALYST
Joseph Wilk
ANALYST
Eren Yagmurlu
ANALYST
Yinzheng Liu
ANALYST
THE VIEW FROM GP BULLHOUND
4
At GP Bullhound we are proud to work with innovative, world-leading companies and their visionaries transforming
innovative ideas into reality. We hope our 2022 tech predictions help you to navigate the opportunities and challenges to
come.
STATE OF THE MARKET
CREATING A NEW ECONOMY 
THE RISE OF DECENTRALISED
FINANCE (DEFI)
Creators taking the baton from gig
Broader institutional uptake to pave the way for
mainstream adoption
THE NEW VIRTUAL PLAYGROUND
Developing the next generation of interaction
WEARABLES STRIKE BACK, POWERED BY
ARTIFICIAL INTELLIGENCE  
Wearables adoption extended 
THE NEXT ARMS RACE
The proliferation of connected devices is outpacing
supply chains 
THE GLOBAL
SEMICONDUCTOR SHORTAGE
ARM-based processors will power the artificial intelligence /
machine learning revolution 
TECHNOLOGY SUPERCHARGING
SUPPLY CHAINS
THE FUTURE OF PAYMENT
Supply chain crises force businesses to look to technology
for new efficiencies 
Buy Now, Pay Later (BNPL) is here to stay
ARTIFICIAL INTELLIGENCE AUTOMATING
HEALTHCARE AT ALL LEVELS
TECHNOLOGY DRIVING DIVERSITY,
EQUITY AND INCLUSION
Industry-leading solutions are leveraging artificial intelligence
Software changing workplace demographics 
PREDICTION 1
PREDICTION 2
PREDICTION 3
PREDICTION 4
PREDICTION 6
PREDICTION 5
PREDICTION 7
PREDICTION 8
PREDICTION 9
PREDICTION 10
THE VIEW FROM GP BULLHOUND
5
Over the course of almost two decades, GP Bullhound’s Technology
Predictions report has established a reputation as an industry-leading
analysis of the trends and innovations shaping the global technology
sector. 
OUR 2022 PREDICTIONS
2021 PREDICTIONS
Recap of GP Bullhound
Edtech continued its surge in 2021 as schools realised
the benefits of the optionality that digital learning
provides to students and teachers. Large school districts
such as Miami-Dade County in Florida signed high-profile
deals with well-known edtech platform PowerSchool.
Large enterprises have even supported schools to adopt
more tech-based learning; US wireless network operator,
Verizon, committed $3bn+ to help schools increase
connectivity and provide devices for students. Despite
concerns about the Chinese government’s restrictions on
the local edtech market, broadly speaking, digital
learning should continue surging given the format's clear
benefits.
Healthcare shifted the most of all sectors in 2020 due to
healthtech, and continued its dramatic change in 2021,
with increased buy-ins from health organisations
worldwide to reap the benefits of tech-enabled
healthcare. In the US, this was illustrated by Cleveland
Clinic’s partnership with IBM to enable high-performance
computing, artificial intelligence, and quantum computing
in healthcare. UK-based healthtech provider, Babylon
Health, also announced a collaboration with Rwanda’s
National ID Agency (NIDA) to expand the reach of its
primary care services in the country. These
collaborations are expected to continue in the coming
year. 
Online commerce continued to grow in 2021, up 9% from
Q2 2020 to Q2 2021
. Buy Online, Pick-up In Store
(BOPIS) also continued to grow due to more e-commerce
but also changing consumer sentiment. A Shipstation
survey indicated that 62% of respondents now expect
retailers to offer curbside pick-up, and 71% expect BOPIS
to be permanently available. This shift in sentiment
proves that the ‘I want it now’ e-commerce mindset is
likely going to be a permanent commerce fixture. 
(1)
Largely driven by those aged 45-64, the number of hours
spent gaming per week in the US hit 16.5 in 2021, up
from 12.7 in 2019 and 14.8 in 2020
. In 2019, 65%
of consumers in this age group played for c.9 hours per
week; in 2020, 69% played for c.12 hours; and in 2021,
75% gamed for c.16 hours
. A large share of this
gaming was on the Roblox and Fortnite platforms, which
have built virtual worlds for individuals to connect, and
Facebook is trying to replicate. The 'March Through Time'
Martin Luther King Jr. event, built in Fortnite in
partnership with Time Magazine, gathered over 8.1 million
players
. More interactions are now virtual. 
(2)
(2)
(3)
EDUCATION IN THE
21ST CENTURY 
THE NEW PATIENT DOCTOR
RELATIONSHIP
YES
‘I WANT IT NOW’
E-COMMERCE
THE NEXT SOCIAL NETWORK 
YES
YES
YES
6
RECAP OF 2021
The ultimate winner of 2021 was the consumer. From online shopping, payments and fitness, to how
companies fought to understand and retain us, technology kept companies alive and permanently
changing our behaviour patterns. Here's a quick look at what we got right.
Many US states have followed California, enacting wide-
ranging digital privacy laws to protect consumers. This
further stoked technology companies, such as Apple, to
improve the privacy functionality on their platforms. In
early 2021, Apple introduced an important update to its
operating system that streamlines how developers of
external apps, such as Facebook, track Apple’s users.
Those users must explicitly agree to have their data
collected. Consumers still do not have full control,
however, as other platforms, such as Google and
Facebook, are not fully transparent on data practices,
making the full privacy shift incomplete.
Digital payments continued to surge in 2021, aided by
changing consumer sentiment. Nearly 47% of consumers say
they will not shop at a store that does not offer a contactless
way to pay
. Digital payments also surged in 2021 due to
an increased interest in Buy Now, Pay Later (BNPL). In 2020,
BNPL accounted for 2.1% of all global e-commerce
transactions. Led by extraordinary growth in Europe, this is
expected to double by 2024
. Square’s acquisition of
Afterpay has strengthened the argument that BNPL will be a
critical component of the payment infrastructure, increasing
the volume of e-commerce globally.
(4)
(5)
The focus of martech in 2021 was the customer. This was
demonstrated by the rapid growth and fundraising of
platforms focused on customer experience automation,
such as ActiveCampaign and Iterable. These platforms
experienced tremendous growth due to an increasing
need for companies to automate their customer
experience and gain insights via artificial intelligence to
retain and attract new customers. Large incumbents have
also realised the need for artificial intelligence in their
customer experience processes, as shown by Zendesk’s
acquisition of Cleverly.ai.
At-home fitness continued to grow in 2021, with a bit of a
twist from 2020. Whereas many of the companies that
saw explosive growth were hardware-based in 2020,
such as Peloton, Mirror and Tonal, 2021 was the year of
more comprehensive software offerings. Companies,
such as FitOn, have developed platforms that address all
areas of the body and are more affordable than large
hardware purchases. This shift helped digital fitness
continue its momentum from 2020 as consumers
permanently look to digital mediums for fitness. 
The pressure on Apple continued in 2021 regarding its
developer fees. Epic’s lawsuit against Apple is undergoing
the appeals process, but the initial judgement ordered
Apple to allow developers to provide alternative payment
rails for app users. This judgement, which is still pending
as Apple requested a stay on the injunction, had a knock-
on effect as Google lowered its developer fee to 15% for
new developers from 30% for their first year of service. As
the fight continues against large incumbents, the
momentum seems to be in favour of the developers.  
Many companies have learned how to construct optimal
environments for their teams in a post-Covid world. Some
companies, such as Amazon, learned that their
organisation can function with employees completely
remote, while others identified that their teams function
better in person, such as Bank of America. While 2021
solidified the possibility of remote work, the future is
likely to remain a hybrid of remote and in-person, as
individuals and companies work to understand how to
strike the right balance between employee satisfaction
and maximum productivity.
CONSUMERS TAKING CONTROL
OF PRIVACY
YES / NO
SURVIVAL OF THE
FITTEST 
CASH IS NO LONGER KING
THE FUTURE OF WORK
MARTECH ALL-IN ON
CUSTOMER EXPERIENCE
EPIC’S ULTIMATE BATTLE
ROYALE…WITH APPLE
Note: 1) Statista (4 September 2021); 2) Makuch, E. (2021, 7 October) Time And Money Spent On Games… Gamespot. Retrieved from www.gamespot.com; 3) Park, G. (2021, 28 September) Epic Games believes
the Internet is broken… The Washington Post. Retrieved from www.washingtonpost.com; 4) Caminiti, S. (2021, 17 August) Digital payments soared during the pandemic… CNBC Technology Executive Council.
Retrieved from www.cnbc.com; and 5) The Global Payments Report 2021. Worldpay from FIS. Retrieved from www.worldpay.globalpaymentsreport.com
YES
YES
YES / NO
YES
YES
7
RECAP OF 2021
8
THE PREDICTIONS



Buy Now, Pay Later to reach $995bn with 1.5 billion users
by 2026, and later a trillion-dollar market, as tech and
finance giants take residence
Decentralised finance tripled in 2021 to $90bn+ in total
value locked, accelerating as it integrates with massive
user-base sectors, like gaming
Healthcare providers are looking to tech for better
capabilities and tools, and accessibility to make data-
driven decisions for their patients
Wearables producers are using their proprietary data to
develop powerful artificial intelligence engines, driving
actionable insights for users on finance, health and
security  


The new creator economy is decoupling from platforms as
creators seek to own their work; influencers earn as much
as doctors, and non-fungible tokens are breaking records
Data is power, and companies are utilising software and
artificial intelligence to achieve better diversity, equity
and inclusion, as well as accountability in the workplace
Recruitment has historically been driven by employers, but
the job market is tilting in job seekers’ favour as they
search for companies that share their values 


As more tech companies transition to the ARM
platform, new software will be cheaper and easier to
develop, and legacy software will be retrofitted
Supply-chain software platforms have become a critical
element for companies, and early adopters have the
competitive edge
The global semiconductor shortage continues with the
proliferation of connected devices outpacing supply
chains, and governments are stepping up to bolster
chip production 
ACCESSIBLE FINANCE
AND HEALTHCARE 
THE EVOLUTION
OF INTERACTION
THE CHANGING WORKPLACE 
MEETING EVER-GROWING DEMAND
Tech innovation is challenging traditional markets, products
and services
We are no longer limited by geographies, or even our
physical presence, the metaverse is the next universe to



More immersive experiences for live events, family
gatherings and shopping with friends
Working from the metaverse is on the horizon, with Big
Tech debuting their virtual workplaces, helping to
achieve the hybrid office return
Business opportunities, especially in marketing and
branding, will create new industries; 2022-2023 could
see beta versions or final products
Non-fungible tokens in the form of clothing, art or other
objects will resemble the next generation of designer /
exclusive objects  
People want to control when, where and how they work
Increased consumer demand is leading to innovation, but
not without its challenges
2022
Technology predictions
Our 2022 predictions focus on how software and artificial intelligence technology are dismantling some of
the major traditional pillars of society, such as the workplace, how we bank and access healthcare, how
we socialise, as well as how we meet the supply and demand issues impacting the space.
SNAPSHOT OF WHAT'S SHAPING TECH FOR 2022
9
THE PREDICTIONS
10
PREDICTION 1
CREATOR ECONOMY SURPASSING $100M IN EARNINGS 
INFLUENCER EARNING POWER AS OF 2021
% of creators
Sources: GP Bullhound Insights, CB Insights, Influencer Marketing Hub; Note: 1) Klein, M. (2020, 23 Sept) 50 Million Join The ‘Creator Economy’ Thanks To… Forbes. Retrieved from www.forbes.com); 2)
Solsman, J. (2021, 6 Oct) YouTube study: 'Creator economy' supports… CNet. Retrieved from cnet.com; 3) Geyser, W. (2021, 24 Sept) An In-Depth Look at Influencer… Influencer Marketing Hub. Retrieved from
www.influencermarketinghub.com; 4) U.S. News (as of 1 November 2021); and 5) Crow, K.; Ostroff, C. (2021, 11 March) Beeple NFT Fetches Record Breaking… The Wall Street Journal. Retrieved from
www.wsj.com.   
Creating a new economy
11
FLEXIBILITY IS KEY 
Another key component of the rise of the creator economy will be the decoupling from platforms. This has
already begun, with world-renowned artist, Beeple, selling a non-fungible token for $69m at Christie’s
. As
some work will be less conducive to non-fungible tokens than artwork, the decoupling from platforms will not
be as evident near-term, but this trend is set to gain traction as creators begin to seek to own their work.
(5)
Influencers are now empowered to create content that aligns with the interests and values of their fans, which
garners interest from brands. These clear benefits from the creator economy should lead to an increase in the
amount of content produced on these platforms.
BRANDS RIDING THE CONTENT WAVE
DECOUPLING FROM PLATFORMS 
The beauty of the creator economy is that influencers do not need work the traditional 9-5, even though the
creator economy represented nearly 400,000 jobs in the US in 2020
. An Inzpire.me study revealed that
Instagram influencers need just 42,575 followers to earn the average UK salary (£29,009), creating only eight
posts and eight stories per month. Top influencers can earn more than 420x the average annual American
income ($121,760)
– that is over 200x the median income for a physician ($206,500)
. Further illustrating
flexibility as an advantage, many micro influencers (between 10,000 and 50,000 social media followers) pursue
their passion as a secondary occupation. 
(2)
(3)
(4)
CREATORS TAKING THE BATON FROM GIG
Globally, there are around 50 million influencers on YouTube, Instagram, Twitch, TikTok, and other
social media platforms
. Today’s influencers are ushering in a new creator economy where they
can create and monetise their own content served to fans through the many channels.   
(1)
PREDICTION 1
PREDICTION 2
12
The rise of decentralised finance
(DeFi)
BROADER INSTITUTIONAL UPTAKE TO PAVE THE WAY
FOR MAINSTREAM ADOPTION
Decentralised finance (DeFi) is booming following two years of astonishing growth. Total Value
Locked (TVL) which measures the value of cryptocurrency deposited as collateral, grew 14x last year,
surpassing $1bn in June 2020
. The rapid pace of innovation in crypto custody and compliance is
driving broader institutional uptake, paving the way for mainstream adoption which remains at an early
stage relative to the wider crypto industry.
(1)
DEFI REDEFINING TRADITIONAL FINANCE
OPPORTUNITIES AND CHALLENGES FOR BROADER DEFI ADOPTION
At the time of writing, over $100bn is now locked across DeFi protocols on the Ethereum blockchain, with TVL
growing 8x over the last year
. The rapidly expanding DeFi ecosystem of integrated protocols has attracted
institutional capital in search of higher yields. In the last 12 months, over $6tn in transactions were settled on
Ethereum with more than half attributed to stable coins which have been a key driver of DeFi growth
. 
(2)
(3)
The Ethereum blockchain network on which most DeFi applications are built laid the foundations for a broad
and thriving ecosystem of decentralised applications (or dApps) and developers
. By allowing anyone to
create protocols that replicate existing financial services using public blockchains and smart contracts,
community-run platforms such as Ethereum are enabling secure and permissionless financial transactions
without the need for intermediaries.

Almost every area of the financial system, from borrowing and lending, to asset management, exchanges and
derivatives, is being rebuilt with DeFi protocols replacing decades-old infrastructure. These decentralised
financial applications are redefining traditional financial services and offering unprecedented levels of global
transparency, interoperability, and equality of access. 
(4)
As with any emerging and evolving technology, adoption challenges exist including scalability, governance and
regulatory risks. The explosive growth in non-fungible token sales has been a key driver of blockchain
adoption, whilst also contributing to increased congestion and high transaction costs (or Gas Fees) on the
network. A number of scalability challenges are being addressed by upgrades to Ethereum, including the
planned switch to a proof-of-stake consensus mechanism, along with the introduction of shard chains to
increase capacity and transaction speeds.

Other promising scaling solutions, which are now attracting strong VC interest, include Layer-2 rollups
leveraging advances in zero-knowledge cryptography to execute transactions off-chain. In parallel, the
growing popularity of ‘Play-to-Earn' crypto games like Axie Infinity will be a key driver of broader mainstream
adoption in the longer term.
PREDICTION 2
DEFI TVL (USDM)
Sources: GP Bullhound Insights, GP Bullhound Insights report: Token Frenzy, Ethereum, and Defi Pulse; Note: 1) 2021 Global Crypto Adoption Index, Chainalysis, October 2021; 2) Defi Pulse (27 October 2021),
3) Messari
DEFI TVL CONTINUES TO GROW

The term DeFi was born in
an August 2018 Telegram
chat between Ethereum
developers and
entrepreneurs including
Inje Yeo of Set Protocol,
Blake Henderson of 0x and
Brendan Forster of Dharma

Other options considered:
Open Horizon, Lattice
Network and Open
Financial Protocols 
13
INTERESTING FACT
14
PREDICTION 3
THE RACE FOR GOODS
Suppliers had to pause the production of goods in March 2020, and then consumers reduced their
consumption following government-mandated restrictions on movement. Now, suppliers and consumers are
trying to resume pre-pandemic supply levels, which has led to supply-chain bottlenecks. 
PROBLEMATIC SUPPLY CHAINS
Companies have faced shortages and price increases of raw materials such as plastic, steel and resins
necessary to produce goods. Shipping and labour shortages also have forced companies to look for ways to
optimise supply chains through strategic sourcing and freight forwarding, which is provided through supply-
chain software platforms. 
TECH TO THE RESCUE
Supply-chain software has become a critical element for companies to find potential issues and fix them
before they turn into debilitating production problems. Additionally, these software platforms have been
critical in helping companies strategically source raw materials effectively.  
EARLY SOFTWARE ADOPTERS’ LEG UP
Supply-chain software platforms will continue to gain traction across the global supplier base as they realise
the necessity of an efficient supply chain. The clear benefits derived from insights in production abroad, to
shipping goods locally, will be a competitive advantage by the early adopters. For example, health and
wellness brand, TB12, has seen its fulfilment costs shrink by 25% since switching to ShipBob, a tech-enabled
3PL company
. 
(2)
DWINDLING INVENTORY FOR BUSINESSES   
Sources: GP Bullhound Insights, Federal Reserve Economic Data (as of 1 Nov 2021); Note: 1) Statista (as of 27 Oct 2021, Lopienski, K. (2021, 24 September) How to Measure Warehouse KPIs… ShipBob.
Retrieved from www.shipbob.com 
15
Technology supercharging supply chains
SUPPLY CHAIN CRISES FORCE BUSINESSES TO LOOK TO
TECHNOLOGY FOR NEW EFFICIENCIES
The Covid-19 pandemic severely impacted global supply chains. Companies are now struggling to
restore pre-pandemic inventory levels due to raw input and labour shortages along with surging
prices, forcing companies to turn to technology to better optimise their supply chains. As a result,
supply chain software should see a surge of adoption in the coming year as its global market size is
expected to grow to over $20bn in 2022
.  
(1)
PREDICTION 3
EXPERT VIEW
16
PEYMAN ZAMANI
FOUNDER & CEO
Expert view
Logicbroker is a leading global provider of cloud and supply
chain automation software to enterprises, brands and retailers
for running digital e-commerce businesses. Its best-in-class
drop ship SaaS platform connects buyers, sellers and 3PLs,
empowering them to increase both GMV and scale in the
evolving e-commerce space.
Drop ship automation and curated marketplaces are a massive
global market, expected to top $5tn by 2022. The Logicbroker
platform and expert team behind it deliver off-the-charts
growth for retailers, brands and suppliers looking to grow their
online business fast by extending their assortments without
carrying inventory. What Logicbroker can do in days or weeks,
their competitors do in months, years or never. 
Software has become a critical investment for retailers and
suppliers within their supply chains, particularly software that
enables connectivity. 
Our software delivers that connectivity and ensures visibility to
products, inventory, orders and shipments, while securely
processing a high volume of transactions in real-time.
The rapid adoption of e-commerce has caused massive ripples
throughout the world over the last year and a half. Consumer
behaviour continues to change. Retailers need to be innovative
and respond with inventory availability not just through drop
ship but through all other digital-enabled capabilities: buy
online, pick up in store; buy in store, ship to home; curbside
pick-up; ship from store; and other avenues. These are all
necessary components of an omnichannel fulfilment strategy.
There are commonalities that new consumers want to buy
digitally and need their purchases shipped to their homes, not
because of the Covid-19 pandemic, but because it is more
convenient.
Every virtual and in-person conference I attend, there is always
a session about the ‘future of e-commerce’. I cannot predict the
future, but to thrive in retail, e-commerce needs to be a top
strategy. Pay attention to your consumers and brands and
collect great data to make decisions about your e-commerce
strategy execution.

If you are an e-commerce veteran like me, the next decade will
be one of the most exciting times in e-commerce – it will be the
only growth answer for all retailers. I am very excited to see
more innovations and fortunate to be able to continue leading
Logicbroker to be a part of this incredible decade. 
With US online sales set to reach a record high this year that
was predicted to be reached in 2025, the tipping point has
happened. It is not e-commerce anymore, it is retail, with the
majority of retail sales expected to be digitally influenced. That
is the only place to find retail growth. Digital sales growth,
predictably, has trickled down to large suppliers who have had
to adapt how they operate to fulfil needs and navigate supply
chains.

We have several customers, including Samsung, Fossil and
Hasbro that have global footprints and we have launched their
automated drop ship and marketplace solutions in APAC, the EU
and North America.
PEYMAN ZAMANI
17
18
PREDICTION 4
The next ARMs race
ARM-BASED PROCESSORS WILL POWER THE
ARTIFICIAL INTELLIGENCE / MACHINE LEARNING
REVOLUTION
APPLE IS A FIRST MOVER 
An increasing number of companies are shifting devices to
ARM-based processors, with some opting to develop their
own competing CPUs, such as Apple’s M1 chip included in
the latest MacBook Pro. Google and Microsoft are also
developing their own ARM-based processors for use in
personal devices and cloud servers
By developing their own CPUs, tech companies can more
effectively implement artificial intelligence algorithms within
their products. Custom accelerators can be optimised to run
each device’s software stack more efficiently, enabling more
real-time intelligent decision-making.
.
ARM CAN EXPAND THE POTENTIAL OF ARTIFICIAL INTELLIGENCE / MACHINE LEARNING
NVIDIA TO INVEST HEAVILY TO SUPPORT ARM 
The range of uses for ARM technology is as broad as the applications for artificial intelligence / machine
learning, with industries such as healthcare and transportation most likely to benefit in the near term. Given
the versatility and energy efficiency of ARM processors, the physical applications cover the entire array of IoT
devices. ARM-powered devices will be able to run advanced artificial intelligence algorithms on the edge to
process more data and make better inferences. To date, their use has mainly been limited to improving smart
phone functions, such as facial recognition, fingerprint scanning, and voice-activated commands. Future uses
could make autonomous vehicles safer, improve the functionality of wearable medical devices, and make
faster inferences in countless other fields.
In 2020, NVIDIA, an American multinational technology company, announced a $40bn agreement to purchase
Cambridge-based Arm, a leading developer of RISC CPUs The transaction is undergoing various government
competition authority reviews. If approved, NVIDIA’s ability to produce chips at scale will likely provide
opportunities to take on high-profile contracts, which should lead to broader customer adoption. 
. 
ARM EFFICIENCY GAINS OVER X86 PROCESSORS
PREDICTION 4
Sources: GP Bullhound Insights, Apple, and Nvidia 
19
For decades, Intel’s x86 processors have dominated the fixed-machine landscape, while ARM
processors have been limited to use in mobile devices. Due to the use of RISC, ARM-based chips are
much more efficient and versatile than their Intel counterparties, bringing distinct advantages for
applications like artificial intelligence / machine learning and the ability to be deployed either in
mobile or desktop devices. As more tech companies transition to the ARM platform, new software will
be cheaper and easier to develop, while legacy software will need to be retrofitted.
20
PREDICTION 5
The new virtual playground
DEVELOPING THE NEXT GENERATION OF INTERACTION
WORK FROM THE METAVERSE
A NEW APPROACH TO ADVERTISING
Advertisers will operate within the metaverse by offering and sponsoring immersive experiences. An example
of this is how Epic Games’s Fortnite held live concerts and Warner Bros. premiered the trailer of its sci-fi film,
Tenet, at a Fortnite in-game movie drive-in.
DIGITAL DESIGNER
Society has come to embrace the shift to remote- and online-enabled worlds. Facebook recently announced
its dedication to the metaverse and has rebranded to Meta. Additionally, both Facebook and Microsoft have
debuted their early versions of what working from the metaverse might look like.

Facebook has shown early designs for Horizon Workrooms that will utilise the Oculus Quest headsets.
Microsoft has shown a virtual workspace that will integrate classic Microsoft apps such as PowerPoint.
Currently, 70% of employers are talking about a hybrid office return post-pandemic, which should further the
opportunities for metaverse-enabled workplaces
.
(1)
Today’s features in VR / AR will likely be adapted to function in the metaverse. Online shopping is growing
each year and in a recent survey 43% of respondents were excited about VR / AR applications in shopping
that will allow them to virtually try on clothes
. As such applications are built, we could see a metaverse
where users try on clothes in a store with friends. 
(2)
DECENTRALISED WORLDS
The metaverse will likely be enhanced by exclusive content such as non-fungible tokens on Blockchain. Non-
fungible tokens in the form of clothing, art or other objects will resemble the next generation of designer /
exclusive objects. Digital assets are already being created, bought and resold in games like Roblox for in-
game currency or cryptocurrency as seen in Decentraland, a blockchain-based virtual reality platform.
CUSTOMERS ARE EAGER FOR ONLINE SHOPPING VR INTEGRATIONS
PREDICTION 5
Sources: GP Bullhound Insights; Note: 1) Rosenbaum, E. (2021, 8 July) The latest numbers on how many workers… CNBC. Retrieved from www.cnbc.com; and 2) Marketing Charts (June 2021) 
21
The metaverse is a world of interconnected virtual communities where people meet, work and play, using
virtual reality headsets, augmented reality glasses, smartphone apps or other devices  It is set to provide
an environment that can change the way we interact, live life and could fully serve as reality for others.
Business opportunities, especially in marketing and branding, will create new industries as users shift
their focus from the web to the more immersive experience the metaverse can provide. We can expect
beta versions of the metaverse to release in 2022 while some companies are promising a product by
2023.
.
22
PREDICTION 6
Technology driving diversity, equity
and inclusion
      SOFTWARE CHANGING WORKPLACE DEMOGRAPHICS   
UTILISING SOFTWARE TO ACHIEVE DEI IN THE WORKPLACE
DATA IS POWER
The increasing amount of candidate data encourages advanced software solutions to power DEI-enabled
recruiting. The $26bn online recruitment market
is a vast universe of data with approximately over 770
million self-reported profiles just on LinkedIn
and more than 2.5 billion multi-sourced profiles on People
Data Labs
.
(1)
(2)
(3)
Sourcing companies are now empowered to utilise the world of candidate data to create DEI-enabled
analytics tools. With only 24% of tech workers being women in GAFAM
(Google (Alphabet), Amazon,
Facebook (Meta), Apple, and Microsoft), Big Tech and other male-dominated industries are looking to level
the playing field by using predictive analytics alongside artificial intelligence- and machine learning-enabled
software.

To achieve DEI recruiting homogeneity, companies are seeking unbiased, blindfolded hiring methods. On
average, candidates from marginalised cohorts list 16% fewer keywords than unmarginalised cohorts in their
profiles
. Companies like Entelo are training in-house artificial intelligence capabilities to detect
underrepresented candidates and predict underlying skillsets
(4)
(5)
WOMEN IN BIG TECH 
SOFTWARE-DRIVEN ACCOUNTABILITY FOR EMPLOYERS
Another frontier of DEI-enabled technology will be applicant-facing predictive analytics that focus on
organisational culture fits. Populated with extensive pre-hire and post-hire data, artificial intelligence-enabled
analytics tools will make predictions about an applicant’s future fit and performance in a company. This way,
an applicant can make data-driven choices when selecting employers and, potentially, help companies to
diversify their workplaces.
GROWTH OF HR TECHNOLOGY AROUND THE WORLD
Sources: GP Bullhound Insights and Statista; Notes: 1) Research And Markets Global Online Recruitment Market (2021 Edition); 2) Linkedin; 3) People Data Labs, The Future of Recruiting; 4) Richter, F. (2021, 1
July) Women's Representation in Big Tech. Statista. Retrieved from www.statista.com; and 5) Savant, S. (2019, 9 Aug) The Beginner’s Guide To… Entelo Engineering. Retrieved from engineering.entelo.com 
PREDICTION 6
23
As the demand for diversity, equity, and inclusion (DEI) is on the rise across public and private
sectors, artificial intelligence- and machine learning-driven algorithms are starting to drive unbiased
recruiting solutions. These are creating more opportunities for marginalised candidate groups and
helping companies make data-driven choices.  
EXPERT VIEW
24
LIZ WESSEL
CO-FOUNDER & CEO 
Expert view
Unlike many traditional marketplaces, where one side is looking
for the lowest price point, and the other side is looking to make
the most profit, our marketplace is aligned with similar goals,
which makes our job a lot of fun. 
WayUp is the number one solution for employers who are
serious about increasing diversity in their organisations. Since
our launch in 2014, we’ve created a community of nearly seven
million students and recent grads across the US that span
nearly every campus and university in the country.
We want early-career candidates of all backgrounds to easily
find opportunities at top companies, and we want to empower
employers to move the needle on sourcing talented, diverse
workforces. We're a double-sided platform, but the goal of both
sides is the same: to meet the best match possible and to open
their eyes to opportunities (or people) that they otherwise
wouldn't have found.   
Our customers are leaders across talent acquisition, campus
recruiting, and diversity and inclusion, from startups to Fortune
500 companies. They use WayUp to either source, attract, or
engage with diverse talent, or to gain analytical insights into
their recruitment processes to uncover any unconscious biases.
Within our database (which grows at an average rate of 17,000
new candidates each week), over 71% of candidates self-
identify as being in a demographic group that most companies
consider ‘underrepresented minorities’.
While most companies tend to blame their lack of diversity on
not having enough diverse applicants, the problem is more than
just that – we notice that parts of their process unfairly help
one demographic group over another. 
We’ve experienced rapid growth – tripling our customer base in
just the last 18 months. This growth speaks to the commitment
that many employers are (finally!) making to drive necessary
change and establish more diverse workforces.

In terms of what makes us unique, outside of our focus on
diversity, equity and inclusion (DEI) and our matching system,
since the merger of WayUp and Yello, we are also the first end-
to-end DEI recruitment platform offering everything from
sourcing to branding, to interview scheduling, an event
platform, as well as CRM and ATS integrations.

There are also many other aspects that differentiate us from our
competitors – whether it’s our candidate-first experience or the
fact that our diversity data is self-reported by our users, making
it fully compliant with the US Equal Employment Opportunity
Commission and the Office of Federal Contract Compliance
Programmes.  
The future of DEI is all about data, where employers will seek to
understand the gaps they currently have in their recruitment and
retention efforts. 
With all of the above being said, I don’t think using WayUp is
enough at all. Once you hire diverse talent, it’s important for
employers to focus on including that talent into their companies
in a way that candidates of all backgrounds have an equal
chance of being promoted.

Vernā Myers once said, “diversity is being invited to the party;
inclusion is being asked to dance”... I love this quote, and while
WayUp can help employers tremendously with hiring more
diverse workforces, I hope employers also realise that hiring is
only the first step in ensuring an equitable workplace for all. 
LIZ WESSEL
25
26
PREDICTION 7
WEARABLES ADOPTION EXTENDED 
Wearables strike back,
powered by artificial intelligence
DATA BECOMES THE PRODUCT
Wearables producers are no longer staying hardware-only. They are encouraged to invest and develop
powerful artificial intelligence engines to drive actionable insights for their users. With the global IoT
analytics market expected to reach $59bn by 2021 at a 31% CAGR
, wearables producers are realising the
value of the universe of proprietary data that they are sitting on. By utilising artificial intelligence-enabled
software, wearables companies can now provide granularly detailed data analytics and even produce
predictive analyses about health, physical performance, and more to users.
(1)
Beyond the extended adoption of wearables, including fitness tracking, health analytics,
smart watches and many more, key providers are leaning towards software rather than
hardware.
AN END TO LARGE, FRONTLOADED HARDWARE COSTS 
VIEWS ON PRIVACY HAVE CHANGED: ONLY IF IT’S USEFUL
Companies have faced shortages and price increases of raw materials such as plastic, steel and resins
necessary to produce goods. Shipping and labour shortages also have forced companies to look for ways to
optimise supply chains through strategic sourcing and freight forwarding, which is provided through supply-
chain software platforms
Users are getting more familiar with monitoring and using the data and insights to make decisions about many
aspects of their lives like health and physical performance. As the familiarity for data collection grows, the
public may become more supportive of providing information but also more cautious about who they consent
to. Selectivity about data consent seems to have increased due to media-present topics like security
breaches, third-party data trade and hacking.
THE LION’S SHARE
WEARABLES’ END USER SPENDING BY TYPE
Specialised companies like WHOOP and Fitbit, and larger generalists like Apple and Samsung, are fighting for
the lion’s share of the wearables market. Even though large generalists such as Apple, Samsung, Huawei and
Xiaomi take up about 50% market share
, the rest of the market is highly fragmented with specialised
players. A new segment of niche wearable producers is set to emerge in areas of finance, healthcare and
security as a result of increased complexity in user preferences.
(2)
PREDICTION 7
Sources: GP Bullhound Insights and Gartner (January 2021); Note: 1) Market Research Future (2021, 18 August) IoT Analytics Market Size to Reach… GlobeNewswire. Retrieved from www.globenewswire.com;
and 2) Statista (1 Nov 2021)
27
28
PREDICTION 8
The global semiconductor shortage
THE PROLIFERATION OF CONNECTED DEVICES IS
OUTPACING SUPPLY CHAINS 
THE WIDESPREAD IMPACT
SUPPLY CHAIN SHORTAGE: A WORSENING CRISIS
Following years of supply-chain constraints related to the US-China trade war and increased consumer
demand for technology products, the pandemic delt another blow to supply chains.

The most recent main driver of the disruption has been the pandemic-related lockdowns of chip production
facilities, leading to the depletion of stocks.
Cars, gaming consoles, and gaming PCs have been hit the hardest by the shortage. Car manufacturers
worldwide have been forced to shut down factories, causing the price of used cars to increase by 30%
.

The shortage has also slowed category leaders’ roll-outs of next generation gaming consoles, while high-end
graphics cards for gaming computers have surged in price on the resale market. Software companies may
ultimately have to adapt to the new semiconductor market. For instance, Tesla is rewriting some of its
software to accommodate alternative chips.
(1)
In the US, the proposed CHIPS for America Act includes $52bn to support domestic chip manufacturing,
research and development, and supply chain security.

In the EU, lawmakers are working to pass the European Chips Act to bolster European chip volume by linking
together the EU’s semiconductor research, design, and testing.

Taiwan's TSMC, the world’s largest chip manufacturer, has pledged $100bn over the next three years to boost
production. Rival Intel announced a $20bn plan to expand its advanced chip-making capacity.
RESPONSE FROM LAWMAKERS AND MANUFACTURERS
CHIP SALES GROWING BUT PRODUCTION NOT KEEPING UP
PREDICTION 8
Sources: GP Bullhound Insights, and AJ Bell Youinvest (January 2021); Note: 1) Blanco, S. (2021, 5 June) Used Car Prices Rising Fast… Car And Driver. Retrieved from www.caranddriver.com
29
The Covid-19 pandemic has pressured global semiconductor supply chains, impeding the
production of goods ranging from cars and computers to appliances and toothbrushes. As
semiconductor usage continues to increase, such shortages could become a recurring problem
and limit the capabilities of supporting software. 
30
PREDICTION 9
INDUSTRY-LEADING SOLUTIONS ARE LEVERAGING
ARTIFICIAL INTELLIGENCE
Artificial intelligence automating
healthcare at all levels
PATIENT-CENTRIC ELECTRONIC HEALTH RECORD (EHR)
EHR has long been an inefficient data warehouse that has seldomly been updated to improve patient
outcomes. With the rise of artificial intelligence, the EHR’s vast amount of data has created an opportunity to
implement artificial intelligence models to help care providers make better decisions for their patients.

Due to the large number of factors at play when analysing someone’s historical health information, technology
is able to more accurately make the right diagnostics and predictions. The next evolution of artificial
intelligence healthcare lies in structuring the wide range of unstructured data in EHR systems to develop new
artificial intelligence models that can make even more complex care assessments.
INPATIENT CARE TECHNOLOGY
Companies have faced shortages and price increases of raw materials such as plastic, steel and resins
necessary to produce goods. Shipping and labour shortages also have forced companies to look for ways to
optimise supply chains through strategic sourcing and freight forwarding, which is provided through supply-
chain software platforms. 
REMOVING THE PROVIDER
Asynchronous solutions utilising artificial intelligence in the form of software platforms and hardware offer
clear benefits by their ability to be used remotely. The abilities these solutions carry are fundamentally
changing the way care is delivered remotely.

Prior to the Covid-19 pandemic, virtual care was used by 10-15% of patients compared to 30-35% after the
onset of the pandemic1. The early success of artificial intelligence-backed healthcare will drive investments
and resources to further the development of mass-market care solutions.
VIRTUAL CARE ADOPTION REACHING THE MASSES
An electronic health
record (EHR) is the
systematised collection
of the digital versions of
patients’ paper charts in
real-time, making
information available
instantly and securely to
authorised users across
different health care
settings. 
Sources: GP Bullhound Insights; Note: 1) Bierbower, J. (2020, 13 Aug) Navigating The Next Phase of Telehealth Adoption. Bright MD Blog. Retrieved from www.bright.md.com
PREDICTION 9
31
Software in healthcare is quickly shaping the future of how service is provided and the capabilities
and tools physicians have at their fingertips. The sudden need for remote processes due to the
pandemic has shifted the focus of delivering healthcare in a virtual or data-driven manner.
Consumer and physician trust in recent technology advancements has paved the way for the
acceleration of artificial intelligence healthcare innovation.
DEFINITION
EXPERT VIEW
32
JASON KRANTZ
FOUNDER & CEO
Expert view
The amount of healthcare data has exploded. In fact, the
healthcare industry generates 30% of the world's data
volume
When I launched Definitive Healthcare in 2011, our initial
platform was relatively simple and focused solely on
understanding the hospital landscape. Over the years, we have
built out data and analytics to provide an extremely robust,
360-degree view of the entire healthcare ecosystem.
Within a few years of our founding, we began to see interest
from big players in the life sciences space, who realised that
leveraging our platform to guide their commercialisation
strategies could give them a significant competitive advantage.
The ideal client for Definitive Healthcare is any company that
wants to sell into, or compete within, the large and complex
healthcare industry. Our clients range from life sciences
companies, which are looking to sell their drug, therapy, or
device to healthcare providers, to healthcare IT companies and
even provider organisations looking to expand their physician
network.
Additionally, we sell to diversified companies, which sell to a
broad range of industries, but understand that healthcare is a
large market, and the complexity of the market requires
healthcare-specific commercial intelligence.  
 I'm sure we'll also see new AI tools focused on infectious
disease to aid with our ability to predict spikes of the virus and
better prepare for future pandemics. 
There is no way we can draw meaningful insights from all the
data without support from artificial intelligence. At Definitive
Healthcare our team of data scientists built our AI engine to
ingest, cleanse, link and analyse vast amounts of data to
create powerful new intelligence and analytics. We've built AI
in our platform to examine and query vast data sets quickly,
helping our customers uncover the intelligence they need to
get their product to market. AI helps us give our clients
answers rather than just data.
Over the last 10 years we have built increasingly sophisticated
algorithms to help our clients better understand the rapidly
changing healthcare landscape. For example, we recently
launched a new feature within our PhysicianView product:
claims-based specialty designations. 
At Definitive Healthcare, we plan to find new and innovative
ways to leverage AI to deepen our understanding of the
healthcare market and deliver better healthcare commercial
intelligence to our customers.
JASON KRANTZ
We're seeing AI being used across the entire healthcare
ecosystem. Companies are exploring new and exciting ways to
leverage the technology to augment the work being done by
those in the healthcare industry – from aiding with diagnosing
and reading imaging, to speeding up drug development by
analysing data, to improving the patient experience and
performing AI-assisted robotic surgery. Given the growing
labour shortages, the ability to utilise AI to make providers more
efficient is becoming even more important.

Next year, I think we'll continue to see more AI healthcare
companies entering the market. The impact of this will be
widespread. We will see AI utilised in life sciences to aid with
bringing treatments to market faster, and we'll see an increasing
focus on ensuring we're creating ethical algorithms and
confronting bias inherently built into AI technology.

The amount of healthcare data will continue to grow, particularly
as more people own wearable and connected devices, making
AI an imperative for anyone who wants to derive meaningful
intelligence from the data.
33
Traditionally, a provider's specialty is based on self-reported
taxonomy codes that may not accurately reflect the procedures
they perform or the patients they see. Our new designation
uses AI to examine claims data to understand a provider's
specialty better, allowing our customers to size and segment
their markets more precisely.
34
PREDICTION 10
The future of payment
BUY NOW, PAY LATER (BNPL) IS HERE TO STAY
MERCHANT’S FAVOURITE PAYMENT OPTION
CONSUMER SPENDING BEHAVIOUR IS SHIFTING
The historically preferred cashless purchase method, credit cards, has seen little growth in the US in terms
of card ownership and circulation since 2000
, and credit card spending and debt have declined since
2020
. Consumers are quickly moving away from credit cards to BNPL to avoid high interest rates and
debt, while still being able to access products that they would otherwise not afford paying upfront for. This
is especially prominent among younger generations, as 26% of Millennials and Gen Z, respectively, use
BNPL plans to make purchases
. 
(1)
(2)
(3)
More merchants are providing BNPL payment options as they realise the benefits of BNPL in driving average
order values, conversation rates, and acquiring new customers. For example, a leading BNPL service provider,
Affirm, showed that merchants adopting Affirm on average saw an 85% increase in average order values,
20% repeat purchase rates, and can acquire customers from its over 6.2 million user network
. This trend
is expected to continue as more merchants, especially small businesses, shift towards omnichannel; 68% of
small businesses say BNPL facilitates sales that otherwise would not be completed
.
(4)
(5)
The BNPL market is rapidly evolving and growing as more tech and finance companies are moving into this
space through acquisitions, partnerships, and their own BNPL offerings. In 2021, Square acquired Afterpay,
Amazon partnered with Affirm, and Apple announced that it would provide its own BNPL products. BNPL
spending globally is expected to reach $995bn and the number of users to exceed 1.5 billion by 2026,
versus $266bn and 340 million in 2021, respectively
.
(6)
THE NEW BATTLEFIELD 
AVERAGE NUMBER OF CREDIT CARDS BY GENERATION
BNPL VERSUS CREDIT CARD USAGE IN THE US
YOUNGER GENERATIONS MOVING AWAY FROM CREDIT CARDS TO BNPL
PREDICTION 10
Sources: GP Bullhound Insights; Note: 1) Shift Processing Credit Card Statistics, Aug 2021; 2) Adams, R. and Bord, V. (2020, 21 Oct) The Effects of the COVID-19 Shutdown. FEDS Notes. Retrieved from
www.federalreserve.gov; 3) Principato, C. (2021, 20 July) Outlining the Potential Growth of BNPL Services. Morning Consult. Retrieved from www.morningconsult.com; 4)Affirm SEC Filings. Retrieved from
www.investors.affirm.com; 5) Pymnts (2021, 20 Oct) New Data: Buy Now Pay later Options… Retrieved from www.pymnts.com; and 6) Businesswire (2021, 14 June) Juniper Research: Buy Now Pay Later Spend
to Reach… Retrieved from www.businesswire.com 
35
BNPL is disrupting both the payment and e-commerce industries, given its rising popularity among
consumer and merchant groups. Consumers see BNPL as a great alternative to credit cards and
merchants have started to realise the tremendous benefits of providing BNPL payment options.
The increasing number of tech and finance giants moving into the BNPL space through different
channels is likely to accelerate BNPL growth to a potentially trillion-dollar market.
The past, present and future
A LOOK BACK AT OUR CRYSTAL BALL OF PREDICTIONS
2010
THE YEAR OF
BEHAVIOURAL RE-TARGETING
CLOUD COMPUTING
DRIVES GREEN IT INITIATIVES
AUGMENTED REALITY IS
BECOMING A REALITY
With smartphones growing, consumer penetration,
augmented reality applications to gain momentum
E-commerce to focus on lowering acquisition costs, and
growing brand awareness / conversion rates
Cleaner cryptocurrencies and digital blockchain
technology for industries to increase transparency
MOBILE APPLICATIONS BECOME A MAINSTAY
Mobile apps to be more established and a meaningful
channel for software distribution
VIRTUAL CURRENCIES & MICRO-
TRANSACTIONS EXPAND BEYOND GAMES
THE RETURN OF THE TABLET PC
Customers increasingly conceiving to buy certain goods
online rather than at local stores
E-BOOK APPLICATIONS TO EXPLODE ON
MULTITUDE OF DEVICES AND CHANNELS
New tablet PC innovations to make stand-alone
e-readers obsolete over time as categories converge
AFFORDABLE ELECTRIC AND HYBRID
VEHICLES REACH BROAD DEMOGRAPHICS
To be one of the key Cleantech themes of the year
2010 to mark the maturing of the current renegade digital
distribution of music content market
CONSOLIDATION WITHIN THE SOLAR
PHOTOVOLTAICS SUPPLY CHAIN
Tablets to offer the best user experience and lead to
mass adoption of e-book applications
INDUSTRY SHAKEOUT
IN ONLINE MUSIC DISTRIBUTION 
Gaming companies target user retention with realistic
graphics, culturalisation and community management
We predicted eight in ten trends for three years in a row. But our trends don’t just look at the year
ahead, they also endure – more than a decade ago we were one of the first to predict a surge in
mobile payments and digital blockchain technology – both of which have transformed and continue
to integrate into our lives with a real impact.
36
HISTORICAL PREDICTIONS
2011
GOOGLE’S ANDROID
DISTANCING APPLE’S IOS
 Android to distance itself from Apple’s iOS platform in
terms of market share
MOBILE PAYMENTS SET TO SURGE 
SOCIAL SHOPPING, DATING
AND GAMBLING WILL THRIVE ON MOBILE
New payments providers emerging along with established
players increasingly diversifying offerings
AR APPLICATIONS TAKEOFF ON LOCATION-
BASED SERVICES FOOTPRINT
Services that revolutionised everyday life of millions of
users to massively hit the mobile space
LBS devices to reach critical mass, driving widespread
popularity of AR applications 
Home control system suppliers leveraging next-gen
devices to help control and manage home equipment
MOBILE AND SMART GRID APPLICATIONS
OPEN THE DIGITAL HOME
Need for privacy to drive users to separate social
networks into core life functions
PRIVACY BECOMES A TOP PRIORITY FOR
SOCIAL NETWORK USERS 
THIN FILM MAKES A COMEBACK
AND VCS TO EXIT TO STRATEGICS
SHORT MESSAGING FORMAT TO GAIN
SUPPORT AND MOMENTUM
 The interactive entertainment industry to continue to
move into the cloud
Companies attacking the big data problem to see
success in both the fund raising and M&A markets
GAMING MOVES INTO THE CLOUD
Massive consolidation driven by the entry of industrial
players with their capital and manufacturing might
NEW GENERATION OF BUSINESS
INTELLIGENCE & DATA ANALYTICS APPS
More use of short messaging format on the Internet, at
the expense of blogs and long format emails
HARDWARE AND CONTENT
CONVERGENCE WILL ACCELERATE 
Hardware manufacturers to partner with software and
content providers to create better user experiences
RUSSIAN INTERNET TO
EXPORT NEW SOCIAL MODELS
2012
Set to integrate user-specific preferences and social
mapping; recommendations curated just for you
RECOMMENDATION ENGINES GET
PERSONAL THROUGH SOCIAL MAPPING
Microsoft Windows platform to see new momentum in
2012, materialising after Windows 8 release
Russian Internet to export new social models; expect
activity in this respect
Broad market utility and adoption will again fail to
materialise due to remaining technical constraints
SOCIAL RECRUITING HITS THE MAINSTREAM
VOICE RECOGNITION BOUND
TO DISAPPOINT – AGAIN
WINDOWS PLATFORMS PICK UP NEW
MOMENTUM
A RE-BIRTH OF THE
SECOND SCREEN – THE TV 
Prices for LEDs to plummet as competition intensifies to
satisfy demand for energy-efficient lights
LIGHT-EMITTING DIODE (LED)
PRICES WILL COLLAPSE
SMART WALLET BREAKS THROUGH
Social recruiting to gain significance as companies turn
to social networks and media to discover talent
New feature sets to transform the TV into a fully
interactive device; a new era of differentiated TVs
After so many false starts, we expect the smart wallet to
finally take hold
37
HISTORICAL PREDICTIONS
COLLABORATIVE CONSUMPTION
BECOMES THE NEW ECONOMY
2013
DISRUPTION OF EDUCATION TO ACCELERATE
Economic system built from network technologies for
creation of exchange platform for different assets
THE RISE OF CURATED AND
PERSONALISED CONTENT
Disruption of education system by technology and free
online resources to continue to build momentum
Content is king holds true, but getting right message to
the right person at the right time is a major trend
GESTURE AND TOUCH CONTROLS
EMERGE AS STANDARDS 
The way we interact with computers has moved beyond
the computer mouse
Major buyers to pursue tech M&A for diversification and
revenue growth
CONSOLIDATION TO CONTINUE, LED BY
'BIG FOUR'
VIDEO CALLING GOES CORPORATE
MICROSOFT TO DOMINATE NEXT GAME
CONSOLE CYCLE 
Although still a novelty today, video calling to grow
strongly within the corporate world
GAMIFICATION – AN EXPLOSION OF
INNOVATION
After the 1990s web-browser war and the 2000s Internet
search war, IP arms race to intensify in 2013
Wearable technology applied to health and fitness to
make its way into the mainstream
IP ARMS RACE INTENSIFIES IN 2013
Fight between Xbox 720 and PS4 to be won by Microsoft 
WEARABLE TECH – THE HEALTH APP
BREAKS THROUGH 
Gamification marketing efforts engage users in game-
thinking and game mechanics to raise brand loyalty
2014
EYE TRACKING REACHES CONSUMER MASSES
BREAKTHROUGH IN INDOOR LOCATION,
COMMUNICATION AND MARKETING
SMART MACHINES MARKET TAKING-OFF
Large retailers leading the way for beacon technology
implementation.
Mass consumer applications of eye-tracking technology
to hit the market in 2014
SHOPPING GOES ‘CLICK & MORTAR’
SmartThings and IoT to penetrate market; innovations,
investments and acquisitions to continue
E-commerce retailers such as Birchbox, Bonobos and
Amazon opened retail stores
THE BATTLE OF ‘WHERE’ TO UNFOLD
High number of users make these apps attractive to
strategic partners searching for growth
SOCIAL MESSAGING
MARKETS TO CONSOLIDATE
Map applications to proliferate and develop features like
lane navigation, restaurant reservation, ETA, etc
MARKETPLACES TO GO VERTICAL
Big players tackle consumer pain of high price points and
lack of perceived value of the curved design
Cloud storage to increase due to time and money saved
in IT management and fewer internal resources
ADVANCED DATA ANALYTICS CLIMBS TO TOP
OF CORPORATE AGENDA
CURVED SMARTPHONES TO FLOP IN 2014
Vertical marketplaces to be more prominent than
horizontal marketplaces on increased investment
CLOUD STORAGE PLATFORMS GO
MAINSTREAM
Big data and data analytics applications to become
attractive to businesses 
38
HISTORICAL PREDICTIONS
RETURNED FOCUS ON CUSTOMER LONG-TERM
VALUE IN MOBILE GAMING
COMPREHENSIVE CYBERSECURITY
PROTECTION TO BECOME THE NORM
NEW MEDIA OUTLETS TAKING-OFF
2015
New media brands producing engaging content in various
delivery formats to attract mass audiences
IoT to turn intelligent by harnessing insights from
actionable data uploaded to the cloud 
INTERNET OF THINGS TO MOVE
FROM SMART TO INTELLIGENT
MAJOR LANDSCAPE CHANGES
IN THE WORLD OF PAYMENTS
Cleaner cryptocurrencies and digital blockchain
technology for industries to increase transparency
End-to-end consumer experiences using a fusion of
software and labour to penetrate consumption spend
END-TO-END SERVICE DISRUPTION
GOES BEYOND UBER AND AIRBNB
Increased adoption of cloud SaaS enterprise applications
to increase productivity and efficiency
SAAS ADOPTION PERMEATES
THROUGHOUT THE ENTERPRISE
3D PRINTING MOVES FROM
PROTOTYPING TO END-PRODUCTS
M&A led by large players targeting consumer
experience, electronics, one-stop-shop digital tools
CONTINUED EMERGENCE OF
ONE- STOP SHOPS IN AD-TECH
STRONG WAVE OF
TECHNOLOGY & PRODUCT EXITS
To enter larger, less price-sensitive industries where
products are lighter, versatile and durable
Gaming companies target user retention with realistic
graphics, culturalisation and community management
2016
‘QUANTIFIED SELF’ TRANSITIONS
FROM NICHE TO MAINSTREAM
VIRTUAL REALITY BECOMES REALITY
AUTOMOTIVE INDUSTRY
RIPE FOR INNOVATION
Virtual reality to revolutionise media, sports, gaming,
entertainment, and education 
Hardware and software startups to create products and
services to track vital health inforamtion 
GAMING GIANTS FORTIFY
POSITIONS, GOBBLING UP CHALLENGERS
Consolidation to continue and smaller independent
developers to build their user base until acquired
DESKLESS WORKERS AT FOREFRONT IN
ENTERPRISE MOBILITY SHIFT
ALTERNATIVE LENDING CONTINUES TO
SHINE IN FINANCIAL TECH SECTOR
New car operating systems to spur growth, dominated by
third-party software and technology players
From early innovation in Fintech for mobile payments and
cryptocurrencies, to alternative lending
Seismic technology paradigm shifts in recent years,
leading to growth in enterprise mobile app companies
Promise of drones undeniable, but drones functioning
responsibly at mass scale to remain unproven
CYBERSECURITY CONTINUES SOUL
SEARCHING
Some to lose ‘mythical’ status as growth slows,
fundamentals weaken & unrealistic expectations rise
DIGITAL VIDEO BECOMES
MORE MEASURED TO KEEP GROWING UP
DRONES TO FLY INTO
HEADWINDS OF UNCERTAINTY
To be the largest video format; tech/media-focused
platforms to adjust to capture video audience
Advanced cybersecurity solutions for the enterprise to
become ubiquitous and a ‘must have’
TECH UNICORN HUNTING NOW IN SEASON
39
Big data security options, and multi-factor and biometric
authentication to permeate consumer apps
Consolidation as larger players diversify into digital
advertising segments and acquire pure-play ad-tech.
HISTORICAL PREDICTIONS
TRANSLATION TECHNOLOGY TAKES HOLD
THE UNLIKELY COMBACK OF THE SOFTWARE
SUITE
MOBILE TRUMPS TV IN CHINA
CYBER SECURITY EXPOSURE AND ADOPTION
OVER AND OUT EMAIL
AUGMENTED REALITY ADAPTS FOR EARLY
ADOPTION
REGULATORS RULE ON BOOM AND BUST OF
ICOS
INDUSTRY 4.0
2017
Millennials leading change in how media is consumed;
cable networks fight the rise of over-the-top services
CORDLESS CONTENT ANYWHERE AND
EVERYWHERE
AI has made waves since Alpha Go toppled Lee Sedol,
18x world Go Champion; high investment, it’s staying 
THE NEXT GENERATION OF AI
E-SPORTS TAKES CENTRE STAGE
FINTECH SHIFTING TECTONIC PLATES
Rapid growth of e-sports to continue, becoming a billion-
dollar industry driven by huge fan base
THE DAWN OF VR/AR CONTENT
DRIVERLESS CARS STILL
REQUIRE HUMAN DIRECTION
Traditional financial institutions to disrupt themselves to
stem the impact of ‘banks 2.0’
With VR/AR at hype cycle peak and hardware ahead of
content, software to drive next platform
As cars are more connected, large tech players to enter
market
SOCIAL MEDIA TRANSFORMATION
SAAS SOFTWARE REIGNING SUPREME
Global uncertainties have hampered performance for IPO
markets, but these to rebound in the coming year
TECH IPOS SET FOR TAKE OFF
European unicorns to continue demonstrating resilience
versus Asian and US counterparts
In a flat world of consumer technologies, Western and
Asian social media giants to offer similar features
YEAR OF THE EUROPEAN DECACORN
Mobile workforce has led to mass adoption of SaaS.
Fragmented market to see some consolidation
INTERNATIONAL
LABOUR ARBITRAGE FLOURISHES
Information workplace communication tools to overtake
email, YoY growth in corp email to cease
2018
Companies to abandon traditional tech hubs in favour of smaller
and up-and-coming places
AN UNSEASY FUTURE FOR POLITICS AND
TECH
Tech firms to come under scrutiny for the content they allow on
their pla□forms with specific regard for politics
Translation technology to enjoy widespread consumer adoption
due to advances in machine learning
Mobile phone usage to overtake TV consumption in China
There will be widespread consumer adoption of digital security
in light of hackings in 2017
Companies to spend large amounts on IT pla□forms to aid their
digital transformation e□forts
40
Regulators to look at booming ICO market and create
definitive guidelines and regulations for the space
Factories to embrace artificial intelligence and robotics,
spurring the fourth industrial revolution
AR to enjoy a rapid increase in consumer adoption due to
imporvements in technology
HISTORICAL PREDICTIONS
RETAIL TECHNOLOGY GETS SMARTER
DIGITAL BANKING CONTINUES TO RISE
2019
APP DISTRIBUTION MOVING
AWAY FROM APPLE AND GOOGLE
Consumer adoption of digital banking tools as digital
transactions continue to increase YoY
EMPLOYEE ENGAGEMENT GOES HIGH TECH
Apple and Google to see widespread backlash from
developers fed up with their commission fees
HR to embrace AI and data analytics to make capital
management more efficient
AI to improve working conditions and create more flexible
ways of working
Traditional retail to embrace innovative technologies to
usher in the new age of retail
ARTIFICIAL INTELLIGENCE IS
THE END OF REPETITION, NOT LIFE
CONSUMER SUBSCRIPTION
SET TO ECLIPSE ADVERTISING
Subscription models win versus traditional advertising as
concerns of data misuse continue to mount
LAST MILE DELIVERY GOING THE DISTANCE
A BREAK-UP OF AN ADVERTISING DUOPOLY
Corporate initiatives for gender balance through
improvements in accessibility to female entrants
Institutional capital to flow to cryptocurrencies as
blockchain activity continues to increase
END OF THE BOYS CLUB
More retailers to focus on improving last mile delivery
solutions to keep pace with vendors like Amazon
CRYPTOCURRENCY WILL GROW UP
Brands to break up large advertising hold of Google and
Facebook with own end-to-end services
2020
THE WAR IN STREAMING FILM
AND VIDEO ESCALATING TO A FRENZY
Consumers using multi-platform for premium content;
large incumbents offering bundled premium services
Data lakes clearly demonstrating supremacy over
relational databases and other legacy products
RELATIONAL DATABASES
MAKE WAY FOR DATA LAKES
VERTICALISED AI SOLUTIONS TO
SOLVE REAL BUSINESS CHALLENGES
AI/ML SHOWING QUANTIFIABLE
RESULTS IN MARKETING
Until AI models can integrate into existing systems /
architecture, purpose-built AI tools to solve needs
Adoption of AI technology to more accurately target
consumers and improve ROI is set to continue
APPLE A13 BIONIC SETS THE
PRECEDENT FOR ON-DEVICE AI / ML
Apple rules computing power and graphical capabilities,
but the competitive gap has narrowed
GAMING EMBRACES THE ERA OF
SUBSCRIPTION AND STREAMING
Streaming and subscriptions to become the default way
games are consumed and purchased
CORPORATE SOCIAL RESPONSIBILITY TAKES
CENTRE STAGE
5G LANDGRAB: THE RACE FOR
COMMERCIAL DEPLOYMENT OF 5G
Importance of running data-intensive processes on
devices, with significant business outcomes
The benefits of an as-a-service model are clear and
becoming widely adopted
THE EDGE OF TOMORROW
EVERYTHING AS A SERVICE
5G touches all of the communication ecosystem, and
devices and networks are racing to lead
Fast growth for CSR software, boosted by increasing
awareness and greater adoption of CSR initiatives
41
HISTORICAL PREDICTIONS
Methodology
This report is based on the expert insights of GP Bullhound’s worldwide team alongside detailed analysis of
investment trends across the global technology landscape. It is intended to provide our predictions for the
digital economy in 2022.

Each year, we present a transparent assessment of our predictions from the previous report to maintain a
high level of scrutiny on our own research. Conceptually predicting tech of the distant future is in many
ways simpler than predicting near-term advancements, but our challenge is identifying which technologies
will see the greatest progress and market adoption in the coming 12 months.

Historically, we have highlighted significant trends standing the test of time; e.g. our predictions for IOT,
wearables and collaboration tech, as well as critical trends in cybersecurity, cloud and edge computing.
Many will continue to evolve, eventually forming the foundation for future tech in years to come.
METHODOLOGY & CSR
42
Corporate responsibility
CSR group and carbon footprint program
to mitigate environmental impact
Reduction of energy consumption and
waste generation
Digitalisation of communications and
materials, Data Life Cycle Management
and server virtualization
Sustainable procurement
ENVIRONMENT & SUSTAINABILITY
LABOUR & HUMAN RIGHTS
20 nationalities represented within our
global team
Championing diversity, respect,
education and equal chances for all
Employee benefits include parental
leave, flexible work, healthcare
coverage, training and mentoring, and
company stock ownership
Cultural Board and Diversity & Inclusion
groups to enhance company culture and
gender diversity
INVESTING & ADVISING RESPONSIBLY
Formal compliance policies in place
against corruption, bribery and to ensure
third-party information security
Support to charitable non-profit
organisations for human rights,
education, health, diversity and the
environment
Employee volunteering programme
Multiple criteria when selecting the
companies we work with, including:
environmental impact and approach to
talent, equality, regulatory compliance,
financial health and political risk
Member of the British, Swedish and
Hong Kong Private Equity and Venture
Capital Associations
Follows and supports the UN Principles
for Responsible Investment
ETHICS & COMPLIANCE
About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital
to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today
has 10 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com
43
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