Post on 08-Jan-2017
transcript
Subrata MukherjeeVice President, Product Management, The Economist(Latest hobby - Founder & CEO, Dsrptt business transformation)
business transformationCross Roads of Content & Commerce
Ez Conference 2015Business trackNovember 5th 2015, 10 am, Brooklyn, NY
If your business is into content and commerce you probably are in a “dual site” mode
business transformation
Brand MarketingOr Editorial
eBusiness teamOr Sales army
Reality check!
To the consumer these are two different sites with totally different experiences
business transformation
Glossy magazine likeRomantic experience
Structured business likeConversion led forceful experience
Reality check!
End game is both sites fight with each other unknowingly , introduce complexity, customers get confused
business transformation
Success is defined as more eyeballs
Success is defined by more sales / conversions
Reality check!
Introduce seamless multi channel experience focused on the needs of the consumer
business transformation
Seamless experience causing delightStrategic partnerships across departments
Holy grail of convergence
business transformationInspiration 1 – MR PORTER
business transformationInspiration 2 – TORY BURCH
business transformationInspiration 3 – REFINERY29
You probably knew all about this.. You are thinking what a waste of time…
business transformationWait!!
Lets make it interesting
business transformationHmmmm….
Meet Nicholas Negroponte Professor MIT Media Lab
business transformationVoila!
1995, Negroponte was called crazy for predicting “that we’ll soon buy books &newspapers straight over the internet
business transformationAha!
His latest prediction is - we are going to ingest information “we’re going to swallow a pill and know English”
business transformation
English in a minute pill
Wow!
His latest prediction is - we are going to ingest information “we’re going to swallow a pill and know Shakespeare”
business transformation
Pill classicsAccent not included
Wow!
“It will go through the bloodstream and it will know when it’s in the brain and, in the right places, it deposits the
information.”
business transformationAmazing!
Who is more mesmerizing?
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Story teller? Fortune teller?
or
Million dollar question!
Prediction is always more fun than reality
business transformationYou knew it!
business transformationThe current state of affairs as a reminder
Most companies who are trying to innovate are just tinkering around the edges
business transformationCurrent reality – Content & Commerce
Free Content everywhere
Ad blocking technology popularity
Diminishing Ad revenue
More eyeballs on digital than print
Premium niche paid content doing well
Lots & lots of commerce sites
Tough demands on shipping / distribution
Diminishing margins on each sale
Tax laws have not evolved as much
Shoppers price sensitive looking for deals
Content Commerce
business transformation5 year strategy plan of a typical Content company
Year 1 Consolidation of CMS platforms Modern scalable ecommerce platform
Year 4 Personalized content verticals Advanced social commerce / mining
Year 3 Ad free premium experience Content partnerships to up engagement
Year 2 Content as a service Personalized cross-sell / up-sell
Year 5 Content syndication & licensing Utilize Big data for growth / value
Year Content Commerce
business transformationThe world in 50 years
All about selling intellectual property rather than the commodity
business transformationContent – Inspiration for our 50 year prediction
Nano-roboticsIn 2014, an engineered scallop nano-robot developed by researchers at the Max Planck Institute for Intelligent Systems in Stuttgart, Germany (only a fraction of a millimeter in size) is capable of swimming in body fluids
This particular version is powered by an external magnetic field, but it’s just providing energy input, not dragging the robot around directly as other micro bots do.Image: http://spectrum.ieee.org/
business transformationContent - Year 2065 (50 years)
Swimming robotic media scallops entering through fluid
Entering thru eyeball & entering blood stream
Fresh content injected remotely to the brain
We feel nanorobots would be so mainstream in 50 years that applications would move beyond medical applications. Media companies could deliver content this way
+ =Image: http://salute24.ilsole24ore.com/Image: http://spectrum.ieee.org/ Image: space.dawsoncollege.qc.ca
business transformationContent – Inspiration for our 50 year prediction
3D printing hits food industry tooIn 2015, Hod’s team showed a basic prototype of a 3D printer which would be the future of sci-fi food and other mass scale manufacturing.
Image: futurefood2050.com
Hod LipsonDirector, Creative Machine LabsCornell University
ChefJet Pro (costs about $ 5K) is the world’s first professional dessert printer, utilizing a variety of confectionary recipes including sugar, fondant and sweet and sour candy in a variety of flavors
business transformationCommerce- Year 2065 (50 years)
Wide variety of ingredients for all your 3D printing needs
Sell Intellectual property to download & print
On demand production on a whole new level
We feel that we would be far from solving global hunger, but the indulgent capitalist can just decide to print everything at home including his chicken tikka masala
+ =Image: 3dprint.com, Star Trek food synthesizerImage: solidsmack.com Image: blog.ceb.com
business transformationThe world in 30 years
Artificial intelligence and bio technology becomes mainstream
business transformationContent – Inspiration for our 30 year predictionBrain computer interface (BCI)A brain-computer interface (BCI), also known as a brain-machine interface, is a system that allows a person to control a computer or other electronic device using only his or her brainwaves, with no movement required.
In 2015, Adam Fritz – whose legs are both completely paralyzed – recently employed novel brain-computer interface technology created by University of California, Irvine researchers to do what no paraplegic had ever done before: use the strength of his mind alone to take those historic steps.Image: http://news.uci.edu/
business transformationContent – Inspiration for our 30 year predictionEyeball tracking F-35 helmetAfter $60 billion dropped on development, the F-35 jet is ready. It features a brand new helmet that will let the pilot see through the plane, aim missiles with his eyeballs , and keep an eye on key data no matter where he turns his head. It can recognize the pilot with a 3D head scan and can even aim weapons with no more than a glance.
I believe this technology will go very mainstream in 30 years
Images: www.wired.com
business transformationContent - Year 2045 (30 years)
Eye & Brain sensors will drive commands
Sensors control navigation on devices
Total hands / voice free access to your content
Content navigation and search would be controlled by eye and brain signals and not by navigation devices or fingers. Think and click your video or browser back button..
+ =Image : http://weandthecolor.com/Image: http://news.uci.edu/Image: http://mindz.net.au/mind-art/
business transformationCommerce – Inspiration for our 30 year prediction
Self adaptive ioTIn 2015, Internet of things is just getting started. We can trigger or schedule events with our smartphones, but it would take at least a decade for self learning and all appliances to talk to each other and not wait for human intervention.
Image: http://spectrum.ieee.org/
Image: lgnewsroom.com
business transformationCommerce - Year 2045 (30 years)
Advanced Internet of Things does automated shopping
Home robots arranges the things where they belong
A real life emergenceof the world of Jetsons!
We will not shop but shopping will get done auto-magically with extensive Internet of Things algorithms and advanced robotics. All you do is consume
+ =Image: dtelepathy.comImage: http:ijpr.org Image: activerain.com
business transformationThe world in 15 years
Super computing meets luxurious brand experience
business transformationContent – Inspiration for our 15 year prediction
Master algorithm & supercomputing“The master algorithm is the ultimate learning algorithm. It's an algorithm that can learn anything from data and it's the holy grail of machine learning… finance was indeed one of the early very successful applications of machine learning. Things like applying it to the stock market”
“..There's having enough data; the more data we have, the better, so big data is all great fuel for machine learning. And then there's having powerful enough computers to apply those algorithms for all that data”- Interview on Popular mechanics
Image: amazon.com/
business transformationContent - Year 2030 (15 years)
Sophisticated algorithm to predict next month’s news
Power of supercomputers to process huge data
Paid premium content predicting future news
We feel current affairs and analysis will become free / cheap. Premium expensive content need to predict future stories and better predictions will be more pricey
+ =Image: http://beforeitsnews.com/Image: http://thefix.com/ Image: itp.net
business transformationCommerce – Inspiration for our 15 year predictionRetail stores becoming guide shopsBonobos – an online men’s clothing retailer opened guide shops to experience products, try sizes, choose patterns & colors, drink from a bar. Stores will be less transactional and more experiential, furthering brand loyalty. This is followed by online order. Popup shops are also helping the cause
Luxury brands will be first to catch on and then will be big box stores catch on. Big box stores like Macy’s which is already clustered inside by brands will be the first to catch on….Sadly, grumpy cashiers will need to find other job opportunities Image: bonobos.com
business transformationCommerce - Year 2030 (15 years)
Robots delivers selections to fitting room / checkout bag
(even in food / FMCG stores where you point & select)
Smaller brand experience store fronts / popups
(even in department stores like Macy’s)
Hi-touch, less time and more fun shopping
(even home deliver if you want hands free )
+ =Image: listsurge.comImage: retail-innovation.com, Retail robot at Hointer, in SeattleImage: usatoday.com, Guide shop at Bonobos
Malls / stores will evolve to brand experience centers with robot controlled trial and checkout processes. No more grumpy cashier, only deal with experience managers
business transformationThe world in 5 years
Personalization and portability hits new high with ability to drastically cut fraud
business transformationContent – Inspiration for our 5 year prediction
News and information eButlersSites like Google news & Feedly are gaining steam and news & media organizations are merely becoming sources. Instead of going to NYT, readers will consume content in these eButlers
Image: news.google.comImages: feedly.com
business transformationContent - Year 2030 (5 years)
Consolidators gaining tractionNews sites growing fast
Separate subscriptions for just portable content
Consume paid content on other consolidators
Portable premium content would be a reality in which reader just buys content and then consumes in a reader of their choice where they can consolidate content
+ =Image: feedly.comRepurposed Image: nytimes.comImages: lifehacker.com
business transformationContent – Inspiration for our 5 year prediction
Fraud reduction with nano sensorsEconomies and brands loose billions of dollars for unregulated counterfeit goods and currencies. Nano sensors cant be detected and hence cant be easily duplicated
Image: wired.com Image: bejsment.comImage: thedrum.com
business transformationCommerce - Year 2020 (5 years)
Basic essentialsFood, FMCG, Clothing, HousingEdible Nano sensors for monitoring food
safety, quality and expiry
Discretional shoppingHome, Tech, Auto
TruTag micro particle as security devices readable with special equipment
Luxury shoppingEscapes, Designer goods
Invisible nano QR codes help fight battle against forgery
Retailers upgrading infrastructure to reach Nanosensors and invisible nano QR codes
Image: lovethispic.comImage: University of California
Image: trutags.com
business transformationDisruption planning helps… See 5 year plan
Year 5 Content syndication & licensing Utilize Big data for growth / value
Bottoms up by 5 year strategy planning will just allow you to merely survive
Top down 50 year disruption planning will bring you out of your comfort zone
Year 5 Portable premium content Nano sensors for tracking & fraud check
Year 4Year 3Year 2Year 1
Year 50Year 30Year 15
…before someone else does…
So that you can keep it running for decades to come !
business transformationPlan to bring down your own company….
Probably donuts waiting for you during break..Stop by and say “Hi!”.. I help companies disrupt
Follow me on Twitter @sumutech
Find me on Linked in https://www.linkedin.com/in/sm360
Visit my new disruption hobby at www.dsrptt.com
business transformationWhat's next ?