Tag: CEO

2020 Predictions from Prevayl

With 2019 coming to an end, the beginning of a new decade promises real change in the tech industry. New technologies are set to enter the market, transforming the daily lives of consumers, while ideas that have been surfacing for a while are finally set to become the norm.

Since April 2019, Prevayl® has enjoyed huge growth as a business, adding leading experts from the fields of engineering, fashion, health-tech and intellectual property to our team. We caught up with them to understand their predictions for the year ahead.

Adam Crofts, CEO

One of the biggest trends for 2020 is set to be increased consumer desire to take ownership of their own health. No longer will people be happy to rely on an external assessment or interpretation.

Personal health data is fundamental to this change. When users can interact, curate and evaluate their own health data they can make the right decisions that will benefit them in the long run. We will then get to the stage when each person will have their own pre-emptive health insights to signpost them away from illness.

Noel Hamill, Chief Commercial Officer

Robotics. We’re already seeing day to day usage in Amazon warehouses for example. I can imagine more robotics coming into the home and performing menial tasks.

I also see the likes of artificial intelligence and machine working impacting the healthcare industry. Robotics will be involved in medical operations, with the ability to scan medical records and predict whether people would have any kind of future diseases. That’s very exciting.

Bella Hepworth, Apparel Design Director

In 2020, we’ll see more and more brands looking at sustainability and increased initiatives around this, following on from the likes of Adidas’ recycled plastic shoes earlier this year. I expect to see more innovation around sustainable materials with existing materials re-engineered to be more high-tech substitutes. R&D will be heavily focused on materials in 2020.

We also need to be wary of ‘greenwashing’, with so many brands jumping on the bandwagon of sustainability and creating content that makes it look like they are going the extra mile, but rarely doing so in reality. This leads onto the potential need for more self-regulation of the industry.

Education for consumers around sustainability continues to be extremely important as recent studies suggest it still isn’t a priority for many customers when they choose where to spend their money.

Tahir Mahmood, Director of Engineering

Robotics is set to change completely. Where once robots were primarily used to perform work that was too hard, dangerous or repetitive for humans, we’re now set to see human-robot interaction and cooperation, as the demand for robots to work with humans or to be controlled intuitively grows.

This covers a range of scenarios from robotics working interactively with humans in industrial manufacturing, robotic appliances designed to care for and help the elderly, and even autonomous robots in space or underwater.

Georgia Castleman, Marketing Communications Director

Biometric research is set to become integral for brands.

The right use of biometric data provides detailed audience insights, as well as patterns of user behaviour in relation to buying decisions, content, and online and offline experiences.

Biometrics can be used to track and measure a wide variety of different physical responses from users that are closely aligned with your target audience. When brands have that data it can be used to guide their future marketing, brand, and business strategies.  

Martin Ashby, Operations Director

2020 will see a growing interest from individuals in taking control of their wellbeing, resulting in demand for insight that reports on mental and physical health and offers advice on how to manage or improve it.

Additionally this will fuel a distrust of global food manufacturers, with more people taking control of what they eat. This could take the form of consumers insisting on knowing where their food comes from and how it was grown, clearer guidelines on the impact food will have on their body, or more actionable health data on labelling such as calories also shown as the equivalent duration of cardio exercise that would be required to burn them off.

In the medical world, there is likely to be a continuing shift from treatment to prevention. This will include GPs providing prescriptions for exercise or meditation as opposed to treatment using medication.

Sam Bird, Director of Intellectual Property

There are likely to be tussles over whether an AI can be a legal inventor of a patent. The Artificial Inventor Project is fighting for the rights of AI inventors. 2020 could potentially see a legal conclusion to this issue.

We’ll also see the implementation of the unitary patent system in Europe, but questions remain as to whether the UK will be able to take part in this project due to Brexit.

There may also be an increase in claims for employee compensation for the benefits of patents following the Shanks v Unilever ruling at the UK Supreme Court in 2019.

Michael John Lynch, Director of Electronics

Smart technology is becoming the norm for consumers.

We’ve recently seen the news that Ikea has invested in a dedicated business unit for smart home tech. While the Ikea target audience was never a tech-first audience, this recognition illustrates the importance of smart tech for the everyday consumer and their continuing expectations around it.

While these expectations in the home increase, we’re also set to see consumer frustration and apathy towards the need to have multiple contracts with various content providers, such as Netflix, Amazon, and Spotify for example. Could this open the door for aggregators to enter the market?

We’ll be catching up with the team again in early 2020, to showcase what the year ahead holds for Prevayl.

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Meet our CEO, Adam Crofts  

Adam Crofts, co-founded Prevayl™ in April 2019. We sat down with our CEO to find out how the journey’s been so far, a little more about him and the possibilities of Prevayl™.   

What gets you up in the morning?   

The motivation to push Prevayl™ to where we know it can be. We’ve got a team of people that are working at full capacity and you want to be there for them, to make sure you’re leading everyone in the same direction.

I believe in a balanced life and have always maintained that a work life balance is crucial to ensure you and your team are running at full potential and most importantly, happy. Everyone needs to come up for air and be offline and we try to respect and maintain this company wide.

Sometimes it can feel like there’s so much to do that you can’t stop for even an hour of a day as you may miss an opportunity. That’s why having a happy healthy team in place team is so important: we work together; we work smarter to make the right decisions for the business.

What is the role of a modern CEO in a start up?

I believe the role of a modern CEO has to be more inclusive. It’s about surrounding myself with the best possible minds with the right strategic approach to help us achieve our mission. The guys in the team are all seasoned professionals and have the ability and desire to drive the business forward.

It’s crucial for me to ensure that we’re all aligned, working towards the same vision. The talent in the business will then help us achieve our goals.

What advice do you have for other entrepreneurs?   

Speak to and get advice from as many different people as possible, to make informed decisions. Don’t try and do absolutely everything yourself.

Remember to listen. A lot. Don’t initially act on that first piece of advice or insight given. Get the biggest range of feedback that you possibly can from as many different sources and consider it. It’s important to take time to make decisions, as well as making sure you have perspective surrounding a situation and other people to bounce ideas off.

When you’re first starting out, it can be too easy to get pressured into decisions and easy to get influenced. What may have worked for someone might not always be the best way. There are always other ways to do things.

I always like to let people talk a lot. I then digest it and think what’s the best approach for me.

What’s been the biggest challenge in the first seven months of Prevayl™?

Alignment is a big challenge.

With what we’re doing, the scale and the scope is so big, that keeping the right direction is paramount.

If you can get an experienced, innovative team together, aligned and working towards the same goal, you can begin to move fast. The earlier you get that vision and alignment, the faster you can move.

How did the idea for Prevayl™ first come about?   

It first came about from being obsessed about the body, performance, and how to improve and importantly maintain one’s own health.

I started looking into all these areas with the notion that with data you can always create valuable insights. So the question was, how do you extract data from the body?

That got me looking at existing wearable technology. I did extensive research into other brands from around the world and the capability of the technology, looking at what data they could acquire from the body and in what format.

The idea for us was to be able to receive more information from the body than all of these put together and feed it through in real-time to create pre-emptive insights.

The whole idea is based around how to look ahead of time at what’s about to happen, whether in performance or in healthcare, and be able to act before it actually happens.

It was with this idea that I first thought about developing wearable technology that could feed this kind of infrastructure to give these predictive insights, to help you know ahead of time the balances in your body, how to steer away from pulling a muscle or stop yourself getting an injury, or just how to live better.

What are you doing differently to other wearable tech companies?   

Firstly, we don’t want to be known as a wearables company. Wearables, either Prevayl™-owned or Prevayl™-enabled, is the initial vehicle to feed data on the human body into our unique platform.

Through the development of the Prevayl™ platform, we’re creating a heath-tech ecosystem that provides human insights in line with the data recorded by the wearables. We view Prevayl as a health insights provider.

One key thing we’re doing is not closing ourselves off. We could see other businesses in this space as competition, but actually through our platform they can work with us to improve their own offering. That’s one main difference.

Secondly, everything now is focused on historic information that you have to download and react to. What we’re trying to do is create information streaming in real-time so you can react on it in real-time. With the AI we’re applying comes the idea of a pre-emptive diagnosis and vital signposts towards a healthier, more informed life.

Our wearables are also different. They’re something you can interact with daily, that won’t run out of battery in an hour, or that you have to consciously activate. These are clothes that you wear every single day, and from brands that you already wear. You can wash them, work, go out and train in them. You don’t have to make a conscious choice.

Where do you see the business in the future?

I see us as a tool that enhances peoples lives, that empowers people to take healthcare into their own hands and make conscious decisions on their lifestyles based on their own data.

I still see us being the leading provider in biometric data, but the changes will be in how we visualise and interact with this information, enabling everyone to create their own personalised health eco-system.  

Now we need phones, in five years’ time there may not be any use of phones, but everyone is always going to wear clothes. 

By 2025 it’s expected that at least 10% of the apparel market will be connected and constantly receiving information from your body. 

The likes of immersive reality will potentially be how we interpret it.   

How important is data for the future of healthcare?   

Data and self-monitoring is the future of healthcare.

People will be able to make informed decisions and will be able to act fast ahead of time. There’ll be no miss-diagnosis. Real-time information will be key.

How can the use of the Prevayl™ eco-system help people to be better in the long run?

The biodata in our platform is just one aspect of it. This will provide amazing insights on its own.

It’s when you look at the information from the rest of your life that you really see the potential.

When you look at your sleeping pattern, how many emails you answer in a day, your driving and travelling habits, as well as your spending habits. By building up this holistic view in one platform, you’ll be able to understand your health and emotional behaviour. There isn’t another platform in the world that can offer that.

What is the ultimate goal for Prevayl™?  

I want to immerse people in their own healthcare information so that they can interact with it and make judgements that steer them towards the right decisions, that is always based on informed decisions regarding their own health data.

Clothing is our initial method of data capture from the body as it’s something that people can wear day in day out. The vision is a wardrobe full of connective and enabled clothing that betters your life.

This is just the start.

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