Is Phone more important than my wallet?

Are you surprised that some would rather lose their wallet before their phone? It just goes to show how much we have become dependent on these little devices. Whether an iPhone, Blackberry, or even a simple cellphone, many of us have come to rely on them as our pocket brains.

Many people who would not be able to recite their partner’s number without their phone!

Recently, CNN took an informal poll on the street and most people they interviewed said they would rather lose their wallet. One young woman said, “I can use my cell phone to cancel my credit cards. I would be lost without my cell phone.”

A new survey has found that more than one-third of workers would choose their mobile phone over their wallet if they had to leave the house for 24 hours and could take only one item. The survey, conducted by market research firm IDC and sponsored by Nortel Networks, found that while more than 38 percent of the 2,367 people polled chose their mobile phones, less than 30 percent chose their wallets first.

Through the survey, Nortel--North America's biggest maker of telephone gear--was looking to find out how many workers around the world can be defined as "hyperconnected," or as those who have fully embraced the device using e-mail, text, social-networking sites, camera and various applications.

The answer: 40 percent, and growing.

There is still a reason to hang on to your wallet. An ID card or driver’s license is still necessary for many transactions, travel, medical services, and jobs. Many college students can’t function on their campus without their student ID. But we can “inventory the wallet” using digital camera.

In a recent Reuters survey, two thirds of the people said they sleep with their cell phones next to them and don’t turn them off. It makes them feel constantly connected. They’re afraid they will miss something. And the most popular features used by those surveyed, other than the obvious phone calls and SMS, are the alarm clock, camera, and games.

Our dependency on cellphone is going to increase more in next five years. With the increasing technologies of Artificial Intelligence, Augmented Reality, Extended Reality, Machine Learning, our mobile is becoming more powerful device. We can manage our house from switching the lights to locking the door through mobile. Our access to work, education, shopping, banking, entertainment, social connection is going to be quadruple on mobile, so this device is emerging as most powerful and robust.

In fact, very soon the existence of wallet will be completely finished. Our smartphone will replace everything from our identity card to credit card, debit card, driver license, laundry card, shopping card, door lock card and all.