What next in the digital economy
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Transcript of What next in the digital economy
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Deloitte Digital Copyright © 2016
WHAT’S NEXT IN DIGITAL?Steve Hallam
November 2015
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Deloitte Digital Copyright © 2016
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Deloitte Digital Copyright © 2016
DIGITAL IS AN ERA
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Digital business is the application of modern technology to enable innovative and efficient sales, service, marketing, products, processes & collaboration.
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1970TECHNOLOGYCORE
1980TECHNOLOGYENABLEMENT
1990TECHNOLOGYCOLLABORATION
2000TECHNOLOGYENGAGEMENT
2010DIGITAL
2020EXPONENTIAL
TECHNOLOGY CYCLESTechnology eras are characterized by exponential growth and connectivity.
MAINFRAMESDISTRIBUTED TERMINALSCORE COMPUTING
OFFICE COMPUTINGMINI-COMPUTERSWORD PROCESSINGSPREADSHEETSHOME COMPUTING
PC REVOLUTIONNETWORK COMPUTINGEMAILRELATIONAL DATABASESCLIENT-SERVER APPLICATIONS
INTERNET REVOLUTIONBROWSER WARSCUSTOMER ENGAGEMENTINTRANET APPLICATIONSBROADBAND
MOBILECLOUD COMPUTINGBIG DATA – ANALYTICSSOCIAL MEDIAWEARABLES
ARTIFICIAL INTELLIGENCESENSINGHOME AUTOMATIONDIGITAL CARSDIGITAL MONEYQUANTUM COMPUTING3D PRINTING / MANUFACTURING
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SOCIAL ANALYTICS MOBILE CLOUD CYBER
CONTROLLED COLLISIONSEnabling the Digital Era
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CONNECTED COMPUTING DEVICESEvery ten year cycle brings 10 times the connected devices.
19701 MILLION
198010 MILLION
1990100 MILLION
2000500 MILLION
201010 BILLION
202070 BILLION
20301 TRILLION
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SOFTWARE IS EATING THE WORLD #MARC ANDREESSEN
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Deloitte Digital Copyright © 2016
EXPONENTIALS
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Artificial Intelligence Genomics
Connected Home Sensors – Internet of Things
Crypto-Currencies
Robotics3D Printing
Drones
Mobile Payments
Oculus RiftWearables
Electric and Connected Cars
WHAT’S NEXT? EXPONENTIAL TECHNOLOGIES
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LINEAR TO EXPONENTIAL THINKINGWe are wired to think linearly, but our technology is exponential
INTRODUCTION TO EXPONENTIALS
PETER DIAMANDIS
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IN THE LAST TWO YEARS WE’VE SEENNINE TIMES MORE DATA CREATED
THAN IN THE ENTIRE HISTORY OF HUMANITY #EXPONENTIAL ORGANIZATIONS
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EXPONENTIAL COMPUTING POWER
#Kurzweil
Examples• Integrated circuits• Sensors• Robotics• 3D Printing• Synthetic biology• Nanomaterials• AI
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20 YEARS LATER, ALL OF THESE FIT IN YOUR POCKET
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THE SMARTPHONE IS THE NEW CAR SERVICE
WatchWalletRolodexPhoto albumDaily plannerTravel Agent WalkmanNewspaperMagazineBook storeCalculatorWeathermanYellow PagesReal estate agent
Bank tellerRadioDictionaryTVDVD playerScoreboardCouponsRestaurant conciergeMovie ticketsGaming consoles Note passingGolf caddyThermostatCash registerCustomer service agentPilot cockpit guides
___________
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1 BILLION DIGITAL NATIVES WILL JOIN THEWORKFORCE IN THE NEXT SEVEN YEARS
#PETER DIAMANDIS
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BILLIONS OF CONNECTED SENSORSARE BEING DEPLOYED EVERY YEAR
GPS NFC Accelerometers Magnetometers Gyroscopes
Actuators Beacons Flow Temparature Lidar
Location Voice
Arduino Homes Cars Utilities Health
Wearables Health Security Bio Threat Phones
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3D PRINTINGComplexity is now free
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BLOCKCHAINThe Internet of Trust
≠
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ARTIFICIAL INTELLIGENCE
IBM
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$13,000,000,000 WEARABLES MARKET IN 2017
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MIND CLONES
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HYBRID THINKING
TED
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ROBOTICS
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EXTREME BIONICS
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Deloitte Digital Copyright © 2016
THE DIGITAL IMPERATIVE
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IN THE NEXT 10 YEARS,40% OF THE FORTUNE 500COMPANIES WILL BE GONE
BABSON OLIN SCHOOL OF BUSINESS
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DIGITAL DARWINISM
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EXPONENTIAL ORGANIZATIONSI have a billion dollar idea!
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• Excess capacity capture - “sharing economy”• Little incremental costs to scale• Bi-direction location-based awareness• Driver/passenger review “reputation”• Frictionless payment• Delightful
UBER
• AirBnB – Rooms and couches• Share Desk - Office Space• Lyft – Ride sharing• BlackJet – Private jet • Swifto – Dog walking• Wingz – Airport rides• Hitch – Taxi dispatch• GigWalk -
JUST THE BEGINNING…
SHARED ECONOMY
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IS YOUR COMPANY ABOUT TO BE UBER-ED?
1. Venture capitalists are circling
2. You’re using technology to cut costs rather than create value
3. Your customers are getting older
4. Your service is very high-touch
5. Your customer satisfaction is low
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Deloitte Digital Copyright © 2016
PUTTING DIGITAL TO WORK
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SUCCESSFUL DIGITAL BUSINESSES PRIORITISE NEW CAPABILITIES OVER OLD BUSINESS MODELS
ACT2 OF DIGITAL
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2. CREATE AGILE EXECUTION
Learn to develop and try ideas in short iterative sprints with empowered teams. Treat digital initiatives like R&D.
1. THINK EXPONENTIAL
Set bold goals to achieve factors of 10X impact. Defeat incrementalism within your organization. Allow failure.
3. ACQUIRE CAPABILITIES TO CATALYST THE CULTURE
Acquire and hire edge teams to bring design thinking, mobile, digital, creative, and disruptive ideas.
4. PROTECT THE PEOPLE
Ring fence digital teams from layers of bureaucracy, policies or other compromises not found in a start-up culture.
6. NEW IDEAS TO SOLVE OLD INDUSTRY ISSUES
Look for new ideas to solve old industry issues and customer problems. Don’t be blinded by the status quo.
5. CUSTOMER FIRST
Don’t compromise on the customer experience. Make customer value and delighting the customer the #1 priority.
7. DESIGN THINKING
Design is the new differentiator in digital. Diverse teams led by design thinking will create an amazing impact.
8. FOCUS ON VALUE
Don’t get distracted by all the digital shiny objects. Focus on revenue, key metrics and follow the money.
THE 8 GREAT TRAITS OF A DIGITAL BUSINESS
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A DIGITAL PORTFOLIO APPROACHBusiness case approach
1. MOMENTUM BETS
2. DIGITAL OUTCOMES
3. DIGITAL ENABLERS
• Low capital outlay• Demonstrate digital progress• Don’t require significant Enablers• Limited benefits beyond demonstrating momentum
• Primary driver of benefits• Usually transaction based• Low risk, high certainty• Need relentless tracking and focus to drive benefits & adoption• Example: Digital sales, channel migration, service delivery, automation
• Capabilities, processes and technology enablers• No direct benefits• Critical for capability build and future digital capabilities• Examples: Identity, eCommerce, Product Catalogue, APIs
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ECOSYSTEMS
Lego Mindshare
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EVERYTHING ISON ‘DEMAND’
Amazon Prime
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UNBUNDLING OF CONTENT
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TRUST ECONOMY
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SCALABLE LEARNING
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FEEDBACK LOOPS
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CREATING DIGITAL CHANGE
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QUESTIONS?