Phygital Worlds: Revolutionizing Industries

August 2023
MIT Technology Review

Phygital Worlds: Revolutionizing Industries

Introduction

Dive into the future of shopping and healthcare with Unlocking the value of supply chain data across industries from MIT Technology Review. Imagine scanning a bottle of lotion and knowing its entire journey, or a nebulizer reminding you of your treatment schedule. This article explores how blending physical and digital data, or creating a phygital world, can revolutionize industries by enhancing customer experience, ensuring safety, and achieving sustainability goals. It's not just about tracking products; it's about unlocking a treasure trove of data for smarter decisions and a better world. Ready to peek into the future?

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Why It Matters

Discover how this topic shapes your world and future

The Magic Behind Every Click and Swipe

Imagine this: every time you order something online, a complex web of data springs into action, ensuring that your package arrives at your doorstep. This isn't just about shipping a box from point A to point B. It's a dance of data, where every step of a product's journey, from its raw materials to its arrival at your home, is tracked and optimized. This is the world of supply chain data, and it's what keeps our global economy humming. But why should you care? Well, this data not only makes sure your online shopping arrives on time but also helps companies be more sustainable, efficient, and responsive to what you, the customer, really want. It's a big deal because it touches everything from the environment to how quickly you get that cool new gadget you've been eyeing. And for you, understanding this could mean the difference between seeing a product as just an item and appreciating the global journey it's been on to reach you.

Speak like a Scholar

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Phygital

A blend of physical and digital experiences. Imagine playing a video game that also requires you to move around in the real world – that's phygital.

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Data standards

Rules that make sure information is consistent and can be shared easily. It's like agreeing that everyone will write dates as ""day-month-year"" so everyone understands.

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Sustainability

Practices that ensure we can meet our needs today without stopping future generations from meeting theirs. Think of it as making sure there's enough pizza for everyone, always.

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ESG goals

Stands for Environmental, Social, and Governance. Companies use these criteria to make sure they're being good citizens of the world, like making sure their products are made without harming the planet.

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RFID (radio-frequency identification)

A technology that uses radio waves to identify objects. It's like a super barcode that can talk to a scanner without being touched.

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2D barcodes/QR codes

Square barcodes that can store a lot of information. Scanning one with your smartphone might take you to a website or show you a video.

Independent Research Ideas

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The impact of phygital experiences on consumer behavior

Investigate how blending digital and physical shopping experiences changes the way we buy things. Are we more likely to buy something if we can interact with it both online and in-store?

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Sustainability in supply chains

Explore how companies track and improve their environmental impact through better supply chain management. How does knowing the carbon footprint of a product change consumer choices?

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The role of data standards in global health

Look into how standardizing data helps in managing global health crises. For example, how did data standards help in distributing vaccines during the pandemic?

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RFID technology and privacy concerns

Examine the balance between convenience and privacy with RFID tags. Can someone know too much about you based on the products you wear or carry?

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QR codes and consumer engagement

Research how companies use QR codes to engage with customers. Do QR codes on product packaging lead to increased customer loyalty or awareness about sustainability practices?