Much our future as it unfolds relies on data. Whether it’s the evolution of digital twins or the ability of AI to aid in gene therapy, data is the engine. As the possibility space expands, so does the challenge associated with an overwhelming amount of data. The visual below via Visual Capitalist brings that scenario into focus using a connected car example. This related article highlights some of the potential obstacles. As with every scenario we envision, obstacles exist that slow or negate the scenario, while accelerants do the opposite. Envisioning possible futures requires us to understand both sides of this phenomenon – and doing so on a constant and iterative basis.Continue reading
Monetization Strategies in Emerging Ecosystems
As horizontal ecosystems become the primary means of value creation and capture, organizations will embrace various monetization strategies. Given the proven growth potential of platforms (the foundation of ecosystems) and the increasing collapse of Industry boundaries, the urgency to understand ecosystem dynamics is growing. Ecosystems enable producers and consumers to interact in ways that create shared value. In many cases, stakeholders will play either role at any given time – a phenomenon some have called side switching.
Ecosystem Models and Value Design
The road to future ecosystems is paved by stakeholder action in the coming decades. These ecosystems support life experiences and have no regard for industry boundaries. Over time, established peer-to-peer relationships lead to value creation and capture for all ecosystem participants. Along the way, value design gets complicated, as multi-stakeholder ecosystems introduce complexity. It is value design that I believe challenges traditional thinking, both in how we view relationships and how we share value. As traditional thinking gives way, the resulting ecosystems have the potential to move towards the collaborative commons described by Jeremy Rifkin.
Transforming the Automotive Industry
A new McKinsey report focuses on the Disruptive trends that will transform the auto industry. Their work suggests that the world economies are dramatically changing via developments in emerging markets, the exponential pace of technology, sustainability policies, and changing consumer preferences around ownership. They see the rise of four disruptive trends in the automotive sector: diverse mobility, autonomous driving, electrification, and connectivity. For me, these findings underscore the movement from our current automotive industry to the future Mobility Ecosystem. If we can make the mental model shift from our long standing view of Industry and competition, to this emerging view of ecosystem and shared value, we can begin to visualize the different ways value will be created and captured in the future.
The Disruptive Role of Near Field Communications
Over the last several years, the big four technologies of the third platform (Social, Mobile, Big Data, and Cloud) have received the lion share of attention, and an emerging class of innovation accelerators like The Internet of Things will capture attention in the coming years. But there are also a number of supporting technologies that serve as enabling components of multiple disruptive scenarios. In some recent presentation preparation work, I focused on technologies like Near Field Communications (NFC) and iBeacon. It was fascinating to find broad applicability across many of the disruptive scenarios on the visual I have used to describe the coming paradigm shift.