How IOT and Wearables will change the Future of Business
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Transcript of How IOT and Wearables will change the Future of Business
HOW #IOT & WEARABLES WILL CHANGE THE FUTURE OF BUSINESS
GRIMUR FJELDSTED HEAD OF DIGITAL INNOVATION INNOVATION LAB ECCO 2016@GFjeldsted #YOTM
INSPIRE - CHALLENGE - GROUND-BREAKING TECHNOLOGY
@GFjeldsted
Advanced Technology
Advanced Marketing
Advanced Design
Digital Innovation
#YOTM
Hi There!
@GFjeldsted #YOTM
2-WAY WRIST
TV
#IOT
DICK TRACY 1946#YOTM
The future is already here - it’s just not very evenly distributed William Gibson
#YOTM
THE SIX SHIFTS
Source: Mark Boncheck: “Putting Facebook into Perspective”, Harvard Business Review 2012
HIERARCHY NETWORKS
CONTROL EMPOWER
PRODUCTS PLATFORMS
AUDIENCE COMMUNITY
CONSUMER CO-CREATOR
ORGANIZATIONS
LEADERSHIP
STRATEGY
MEDIA
PUSH PULL
INDIVIDUALS
BRANDS
#YOTM
VALUE CREATION/CAPTURE
Source: Smart Design - hbr.org
Traditional Product Mindset
Internet of Things Platform Mindset
VALUE CREATION
Customer Needs Solve needs and lifestyle in a reactive way
Real-time needs in predictive manners
Offering Stand alone product that becomes obsolete
Product refreshes through over the air updates.
VALUE CAPTURE
Path to Profit Sell the next product or device
Enable recurring venue
Control Points IP ownership, brand
Adds personalisation and network effects between products
#YOTM
SUMMARY
+
STANDALONE PRODUCT THINKING
PRODUCT SUPREMACY(BETTER FEATURES & ATTRIBUTES)
NETWORK EFFECTS (LEVERAGE THE INTELLIGENCE OF OTHER CONNECTED PRODUCTS)
CONNECTED PRODUCT THINKING
COMPANY IN A VACUUMPARTNERSHIPS &
COLLABORATIONS
#YOTM
PLATFORMS
#YOTM
TIME TRAVEL TO MEDIEVAL FRANCE
#YOTM
TRENDS THAT ENABLE THE EXPLOSION OF PLATFORMS
TECHNOLOGY DRIVEN DISRUPTION SOCIAL CHANGES+The collision of two mega set of trends
• PERVASIVE COMPUTING & INTERNET
ACCESS TO MOBILE • PAY-AS-YOU-GO CONSUMPTION • FREE & OPEN SOURCE SOFTWARE • MODULAR, OPEN A& CHEAP
HARDWARE • PROLIFERATION OF DATA & COST OF
DATA STORAGE
• SOCIAL NEED FOR COLLABORATION • GROWTH OF URBAN LIFESTYLES • RISE OF ENVIRONMENTAL & SOCIAL
AWARENESS • GROWING IMPORTANCE OF
EXPERIENCE OVER PRODUCTS • DEMAND FOR ACCESS VS.
OWNERSHIP
#YOTM
WHAT IS THE MARKET ASKING FROM COMPANIES?Products and services that are:
HUMAN
RELEVANT
FAST
PERSONALISED
#YOTM
PRODUCT SMART PRODUCT
SMART CONNECTED PRODUCT PRODUCT SYSTEM (PLATFORM)
FROM PRODUCT TO PLATFORM
HEALTH
COMMUNITY
PERFORMANCE TRACKING
HIKING SYSTEM
1 2
3 4
Above is just an example of a concept and not an actual product or idea
SYSTEMS OF SYSTEMS
NETWORK OF CONNECTED PRODUCTS & SERVICES5
HIKING SYSTEM
GEO- LOCATION
WEATHER SYSTEM
RETAIL SYSTEM
HIKING MNGT
GPS GEO-CACHING
REAL-TIME SYNC (ON-/OFFLINE)
PERSONALISED OFFERS AND MESSAGING
BEHAVIOUR & PREFERENCES
WEATHER FORECAST
WEATHER DATA
Above is just an example of a concept and not an actual product or idea
ECO SYSTEM
PLATFORM
ECOSYSTEM
CONSUMERS PARTNERS
X
CO-CREATORSCOMMUNITIES
#YOTM
SHOE AS A PLATFORM
#YOTM
STOP using data to SELL
START using data to ADD VALUE
#YOTM
CHALLENGES
#DATENSCHUTZ
COMPANY MINDSET
PRODUCT LIABILITY
CULTURE & MINDSET
https://www.dropbox.com/s/txwjgqfr0dpkvcx/Screenshot%202016-02-11%2009.42.02.png?dl=0
MACHINE DEPENDENCIES
#YOTM
DIGITAL TRANSFORMATION - CHALLENGES FOR A TRADITIONAL BUSINESS
DIGITAL MARKETING & SALES
DIGITAL PRODUCT- & SERVICE DEVELOPMENT
ECOSYSTEMS & BUSINESS MODELS
COMPANY CULTURE & MINDSET
1
2
3
4
#YOTM
…..AND THE MONKEY!
#YOTM
THANK YOUGRIMUR FJELDSTED HEAD OF DIGITAL INNOVATION INNOVATION LAB ECCO 2016
@GFjeldsted #YOTM