CHICAGO–(COMMERCIAL WIRE)–Thoughtworks (NASDAQ: TWKS), a global technology consultancy that integrates strategy, design, and engineering to drive digital innovation, today released Looking Glass, a guide to the critical technology-driven changes that will shape business in 2023 and beyond. Based on Thoughtworks’ unique approach to bringing cutting-edge innovation to businesses before new technologies reach mass adoption, this report offers industry leaders recommendations on how to better compete and become disruptors themselves.

For many, Web3 is practically synonymous with cryptocurrencies, NFTs, and other blockchain technologies. However, Web3 is best understood as a collection of building blocks that could serve as the foundation for a more distributed future of the Internet. As governments and organizations embrace concepts like decentralized identity, businesses need to carefully evaluate Web3 technologies through the lens of tangible customer value to be prepared for potential branding and business opportunities.

“For many companies, the biggest opportunities for Web3 are likely to arise around friction reduction and digitization,” said Dr. Rebecca Parsons, CTO at Thoughtworks. “To some, Web3 has become synonymous with volatility and get-rich-quick schemes. If the security and privacy aspects of blockchain are realized, the gain in distributed identity and greater end-user control could open up new ways for companies to maintain the privacy of customer data while gaining customer trust and loyalty. in Web3”.

The six lenses in today’s Looking Glass report are:

• Accelerate Sustainability: Despite the urgency, sustainability is still not ‘business as usual’ for many organizations.
• Platforms as products: Platforms need continuous attention and need to evolve and adapt in response to developer feedback and the changing business landscape.
• Web3 Evaluation: Avoid getting sucked in by the hype and focus on what Web3 offers that is directly relevant to your business.
• Association with AI: Innovations in ML and AI are “seeping in” and becoming even more accessible, more integrated into the business, and more productive.
• Making the metaverse: Other rapidly advancing technologies such as VR/AR/XR, voice, gestures, and facial recognition are already ‘here’ and are likely to be more relevant to businesses in ways that the metaverse, at least for now, is not. .
• Hostile technology: Balancing threats to consumer security and privacy with evolving regulations and simply doing the right thing will be critical to staying competitive and building customer loyalty.

Thoughtworks Looking Glass is updated annually to keep pace with ever-changing technology priorities and business applications. Visit ThoughtWorks.com/Insights/Business to stay up-to-date with the latest business and industry insights for digital leaders.

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Thoughtworks is a global technology consultancy that integrates strategy, design and engineering to drive digital innovation. We are more than 12,500 people in 50 offices in 18 countries. Over the past 25+ years, we have made an extraordinary impact together with our clients by helping them solve complex business problems with technology as a differentiator.

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