A.I. & Emotion Recognition – What AI Can Tell From Listening to You (WSJ)
“By 2022, Gartner predicts, 10% of personal devices, up from less than 1% now, will have emotion AI capabilities, such as wearables that are able to monitor a person’s mental health and videogames that adapt to a user’s mood.”
Automation & Job Flux – These are the jobs increasingly at risk from automation (WEF)
“But it is a serious possibility that the displacement will happen very fast, and that these people working in offices and professional jobs will join hands with the people who have been hurt by competition by China and robots in factories. We could have a mighty upheaval, something like the yellow vest [protests in France], but just much larger and much faster. That is what I am worried about.”
Blockchain and the rising Eastern Tide – China takes top spot with 25% of world’s blockchain projects (TNW)
“Last August, a PwC report of 600 executives from 14 nations saw the US as world leaders when it came to blockchain tech. Although China came in second, the report said the country’s expected to take the lead by 2023. With today’s news, it seems China is running well ahead of schedule.”
Luxury Brands – The Future of Luxury is Freedom (BOF)
“Freedom is by far becoming the rarest and most valuable commodity one can now attain.”
Business Models & Ecommerce – Traditional Types of Ecommerce Business Models + Innovative New Ones To Consider For Your Next Venture (Big Commerce)
“If your business model is the car, then your value delivery method is the engine. This is the fun part – where you find your edge. How will you compete and create an ecommerce business worth sharing?”
Culture & Open Atmosphere – Companies will perform better if employees are not cowed into silence (The Economist)
“Permission to speak: companies that boost an atmosphere of „psychological safety“ whereby employees across the hierarchy can speak their minds, perform better.”
Customer Centricity – Finding the Business Model that Fits the Customer of the Future (Coverager)
“What Netflix did right from the start was to look at how customers of the future would want to consume content while keeping their eyes on what kinds of content their current customers would want to consume. Netflix started with the customer and used customer preferences and technology trends to determine their operation and business model changes…and began their path to the future.”
Data & Next Decision Technology – McDonald’s Bites on Big Data With $300 Million Acquisition (Wired)
“McDonald’s is set to announce that it has reached an agreement to acquire Dynamic Yield, a startup based in Tel Aviv that provides retailers with algorithmically driven “decision logic” technology. When you add an item to an online shopping cart, it’s the tech that nudges you about what other customers bought as well. Dynamic Yield reportedly had been recently valued in the hundreds of millions of dollars; people familiar with the details of the McDonald’s offer put it at over $300 million.”
Digitalization & Digital twins – The Three Basic Functions of the Digital Twin (Design News)
“The value of the digital twin is its ability to understand a product, to predict how the product will perform in production and in the field, and to optimize its performance and processes through its lifecycle.”
Disruption & Career Volatility- What to Do When Industry Disruption Threatens Your Career (Sloan Review)
“Motivated individuals can start by diagnosing the volatility in their own industry and then analyzing what internal or external forces explain that volatility. Next, of course, it’s time for action. Whether you decide to make a modest shift within your own company or within your industry — or to switch industries altogether — will depend on what your diagnosis uncovers, your own career goals, and what options are realistic for you. The only naive approach is to assume that industry volatility is just something for the company to worry about and not a concern for you as a sole actor. Simply understanding the broader landscape of existing and imminent volatility — and your place within it — is a vital first step. We suggest you take it, soon.”
Experience – Customer Optimization – 11 Practices for Optimizing the Customer Experience (The Growth Metric)
“Customer Experience Optimization is the process of understanding your customers and providing the best possible experience for them across all touchpoints. The major goals of optimization of customer experience are quality, consistency for all interaction, increasing referrals, retaining customers and ensuring growth in the company.”
Futureproofing & Health – How to dementia-proof your home (The Times)
“Some 850,000 people live with the condition in Britain and the numbers are going up: 85-plus is our fastest-growing age group. One in three people born today will go on to develop dementia, and sufferers already account for more than 25% of delayed hospital discharges — they may have been admitted after a fall or flu, but can’t safely be discharged once better because their homes aren’t up to it. The average life expectancy after diagnosis is seven years. There is pressure on somebody with dementia to sell their home.”
Growth & CRO – The Ultimate Ecommerce Conversion Rate Optimization Guide: 26 Top Tips (Plytix)
“Conversion rate optimization (CRO) boils down to two simple steps: Finding out why shoppers aren’t converting and fixing it so that they do convert. In ecommerce, the best way to increase conversion rate is to thoroughly understand each step of the shopping experience, find out where it’s driving consumers to disengage, and implementing adjustments until this workflow is a conversion machine. Wash, rinse, and repeat. Yep, it really is that simple. Which is why so many people think they need to make it more complicated it in order for it to work.”
Immersive Media (VR/AR/MR/360)
Immersive Media & AR Potential – ‘Pokemon Go’ Creator on Augmented Reality’s Massive Potential (Variety)
“You hear a lot of hype around AR,” he said, indirectly alluding to the recent wave of new devices and technologies like Microsoft’s announcement last month of the Hololens 2. “It’s important to understand, we’re really talking about the potential for devices that are going to come out after the phone. I do believe there’s huge potential, but I believe that potential will come out in future devices.
I think [AR] is something that we need. I think it’s something that the world needs,” he said. “It is really up to us to build the future that we want to live in. And more importantly, it’s up to us to build the future that we want our kids to live in.”
Innovation & Three Horizons – McKinsey’s Three Horizons Model Defined Innovation for Years. Here’s Why It No Longer Applies. (HBR)
“This time-based definition made sense in the 20th century when new disruptive ideas took years to research, engineer, and deliver. That’s no longer true in the 21st century — and leadership hasn’t gotten the memo.
While traditional analysis suggests that Horizon 3 disruptive innovations take years to develop, in today’s world this is no longer the case. The three horizons are no longer bounded by time. Today, disruptive Horizon 3 ideas can be delivered as fast as ideas for Horizon 1 in the existing product line.
For those who grew up with the notion that creative disruptive Horizon 3 products takes years are in for some unpleasant surprises. In fact, it’s the speed of deployment of Horizon 3 products, strategies, and capabilities that are a devastating upset to the status quo.”
Internet of Things
IoT and Consumer Acceptance – Return on Experience Consumer Insights – Consumers are ready for Driverless Cars (PWC)
“46% of consumers would like to have an automated car today”
Leadership – Traditional vs. Digital – How Digital Leadership Is(n’t) Different (MIT Sloan)
“So, what kind of leaders do we need for the era of digital disruption? Commanders who study past battles with an eye toward gleaning lessons learned, or intrepid adventurers who believe what is happening now is nothing like what has ever happened before? The answer is a healthy blend of both: leaders who have the core skills cultivated from the insights of the past, but with the agile mindset and digital savvy to allow them to pivot when necessary. In short, we need leaders who can “be the change we seek.””
Marketing & New Age – How Brands Can Succeed in this Expectation Age (Ad Age)
“We entered the Expectation Age with innovations such as virtual reality, dynamic ads and mobile-first technology that have evolved to ensure the customer is at the center of every marketing move. To compete, brands must deliver seamless experiences at every point of the customer journey. We are no longer living in the Information Age of broadband and SMS. Technology has now made the brand-to-customer connection easier, but it has also given customers the authority to demand more from companies. “
Metatrends & Service Subsciptions – How Auto Retailers Like Volvo Are Making Driving More Accessible With All-Inclusive Subscriptions (PSFK)
“Nearly 70% of respondents said they currently use subscription services to consume media, clothing and other products, and half of all respondents said they would consider using a similar service for cars, trucks and vans. Automotive brands are picking up on this trend, offering subscription services that include vehicle access, insurance and maintenance for a flat monthly fee and giving consumers a commitment-free alternative to leasing or buying.
From insurance & service bundles to the actual vehicle itself, here’s how three leading car retailers are offering auto-related subscription alternatives for greater convenience and flexibility.”
Operations Balance Between Tech & Touch – Powering high Touch, High Tech in Hotels (Hospitality Technology)
“Finding balance means that often hotels across segments battle the “just because you can, doesn’t mean you should” war when it comes to the technology available in hospitality. Too much caution or hesitancy, however, results in lags where innovation should be happening. Mobile payments is one example where guest demand (52%) continues to outpace hotel adoption (28%). Another example: More than half of guests (55%) desire guestroom controls, but only 17% of hotels offer that technology.”
Purpose & Employee Orientation – Why Your Company Needs To Care About The Employee Experience (Forbes)
“Only 23% of employees report having a “good job” and 4% have a “great job,” leaving more than two-thirds of the population both dissatisfied and disengaged at work. Purpose-oriented employees are the exception; 73% of purpose-oriented employees report job satisfaction.”
Reinvention & Media – A Swedish newspaper’s reinvention points the way for the industry (Fin. Times)
“Now, less than five years later, Dagens Nyheter is profitable and circulation revenue is at an all-time high. Digital-only subscriptions — billed at SKr120 (about $13) per month — have reached 160,000, compared with 170,000 for the bundled print and digital version. Dagens Nyheter has managed to extract the “paper” from newspaper and in so doing bought a ticket for the future. Last year’s advertising revenue of SKr460m remains less than one-third of the 2000 level, but profits for 2019 are predicted to be above SKr100m.”
Scale / Direct Selling – From Market Stall To £4 Million Headquarters – How To Scale Up An Artisan Business (Forbes)
“The model she chose was social selling. Backed up by an e-commerce website, the strategy was to recruit a small army of direct sellers who hold events and demonstrate the products.
This effectively de-risks the selling process. The “ambassadors,” when recruited, pay £180 for a starter kit containing £400 worth of products and are sent out into the world to make a return for themselves. Ongoing, ambassadors receive 25% commission.”
Social Media Misinformation – Guardian to flag old news on social media (BBC)
“Old news stories from the UK’s Guardian newspaper will be marked with their year of publication when shared on social media, to limit misinformation. It said partisan groups had been sharing old news stories as though they had been recently published in order to push an agenda.
Apps such as Facebook, Twitter and WhatsApp do not show the publication date of news stories that are shared. The Guardian will mark the date on the image of old stories. As an example, the newspaper referred to a six-year-old story about horse meat in supermarket products that appeared to go viral on Facebook every February.”
Strategy & Reality – At odds: Company spending and strategy (Strategy&)
“A majority of companies allocate time and resources without a strategic perspective”
Talent & Upskilling – Workforce of the Future (via PWC)
“Suitably skilled teams are viewed as #1 barrier to the success of digital initiatives. Unlike their global counterparts, some Canadian executives (as also seen in the 22nd Annual CEO Survey) think they can hire their way out of a skills gap or rely on educational institutions training the workforce of tomorrow. Many Canadian leaders still lack an appreciation of the importance of digital transformation and experience to their success, resulting in low digital maturity.
The reality is, they need to step up investment in upskilling their employees’ tech capabilities. From those organizations that have, they’ve already seen the payoff: 74% of those who reported an improvement in talent retention and recruitment because of digital investments said the level of improvement met what was expected, if not more.”
Technology & Bendability – The foldable phone screen is the tech trend of 2019 — here’s how it works (via Business Insider)
“There has been this development of flexible screens. They’ve been in the works for a while now, and in fact, the first phones that were based on flexible screens actually appeared about six years ago. But there wasn’t anything super remarkable about them. They only way you’d know that they had a flexible screen within them is that they had curved edges on their displays.
What’s happening now is that not only do these phones have curved edges, but they’re able to actually be folded. Foldable phones are based on flexible display technology, which is built around OLED screens. So most of the screens that we see in our lives are LCD screens. They’re liquid crystal displays, and they are typically built around a glass base. You have a glass screen or a glass backing for the LCD display.”
Transformation (Business & Digital)
Transformation Five Lessons – Digital Transformation Is Not About Technology (via HBR)
“A recent survey of directors, CEOs, and senior executives found that digital transformation (DT) risk is their #1 concern in 2019. Yet 70% of all DT initiatives do not reach their goals. Of the $1.3 trillion that was spent on DT last year, it was estimated that $900 billion went to waste. Why do some DT efforts succeed and others fail?
Fundamentally, it’s because most digital technologies provide possibilities for efficiency gains and customer intimacy. But if people lack the right mindset to change and the current organizational practices are flawed, DT will simply magnify those flaws. Five key lessons have helped us lead our organizations through digital transformations that succeeded.”
Lesson 1: Figure out your business strategy before you invest in anything.
Lesson 2: Leverage insiders
Lesson 3: Design customer experience from the outside in
Lesson 4: Recognize employees’ fear of being replaced
Lesson 5: Bring Silicon Valley start-up culture inside
UX/UI Assets – Free UX Flowchart (UX Flow)
“Hundreds of vector cards, arrows and elements for creating quick sitemaps, flow charts and diagrams.”
Workplace Historical Context From Ice to Steam: The Transition of Work in the Digital Era (via Cognizant)
“In the last few years we’ve seen a sudden increase in the number of co-working spaces worldwide, jumping from 1,000 in 2011 to more than 15,000 in 2018. This explosive growth was mainly due to increased access to internet broadband, allowing people to work anywhere they want. This trend alone is rapidly shifting work from the physical economy to what we call the digital economy.
The transition of work we’re currently seeing is shifting the core of our economic system, redefining the set of parameters that govern it, adding new layers of complexity to our organizations, work relations and everything that orbit around what we mean by ‘work’. From solid to liquid state (no pun intended, Baumann folks ;)).”