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My presentation in Malmö and Stockholm today for GfK as part of their Digital Insights Seminar in September 2012
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The 3rd industrial revolution?Exploring the future of value creation
Dr. Robin Teigland Karinda Rhode in SLStockholm School of Economicswww.knowledgenetworking.orgwww.slideshare.net/eteigland
RobinTeigland
September 2012www.hhs.se
Today’s discussion
From 2010 to 2012
Into the future….
Did You Know: Shift Happenshttp://www.youtube.com/watch?v=cL9Wu2kWwSY&feature=search
1. What trends do you recognize?
2. How are these trends affecting you and your organization?
3. What does this have to do with networks?
Growth
Time
Information and knowledge
Human absorptive capacity
Human capacity cannot keep up…
Adapted from Cohen & Levinthal 1989
Big Data is now big money
Tomas Larsson, Sep 2012
”No one knows everything, everyone knows something,
all knowledge resides in humanity.”
networks
Adapted from Lévy 1997
Six degrees of separation
- Milgram, 1967
3.74 degrees of separation!
Source: Facebook
Aug 20125 mln active
monthly users in Sweden
People > 45 years becoming more active
Edison Research, 2012 - US-based study
% age group with personal profile on any social networking website
Check-ins not taking off…
How often do you check in to location services such as Foursquare or
Gowalla?
Edison Research, 2012 - US-based study
Almost never Sometimes Almost every time I go out0%
10%
20%
30%
40%
50%
60%
39%42%
18%
57%
24%
18%
20112012
Creation > curation
46% Creators: Create and post photos, videos, etc.
41% Curators: Find and post photos, videos, etc.
http://pewinternet.org/Reports/2012/Online-Pictures.aspx
Organizations span the full range of use but….
Organizational use
Employee use
No use
Ban use
One-way “broadcasting”
Allow use
Encourage use
Two-wayconversations
Teigland 2010
..the majority are
here
2010
..the majority are
here
2012
US Fortune 500 renews interest in social media
Google: 5.3 mln Twitter followers, up from 3.3 mln Coca-Cola: >51 mln Facebook fans, up from 32 mln
Pinterest: Dominated by B2C companies
Twitter Facebook Public blogs YouTube Pinterest0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
60%56%
23%
0% 0%
62%58%
23%
0% 0%
73%
66%
28%
62%
2%
201020112012
http://www.umassd.edu/cmr/studiesandresearch/2011fortune500/
Social media gaining in influence on buying decisions
Which ONE social networking site or service influences your buying decisions the most?
Edison Research, 2012 - US-based study
67% in USA do not follow a brand in social media and for those who do, no one brand
dominates
Of 332 responsesEdison Research, 2012
Think about the companies, brands, products and services
you enjoy following on social networking sites. What is the first ONE that comes to mind?
Google Glass and Fashion collaboratein short film about Diane Von Furstenburg
shot entirely with 'Glasses’
http://www.huffingtonpost.com/2012/09/13/google-glass-diane-von-furstenburg-video_n_1881484.html
Going for the Wow Effect
Hidden influence of your friends’ friends…
http://www.ted.com/talks/lang/en/nicholas_christakis_the_hidden_influence_of_social_networks.html
Happy peopleIn between peopleUnhappy people
Christakis & Fowler, 2011
How Wrapp’s friend-to-friend marketing platform drives sales
Converting online relationships to offline sales
+
http://articles.chicagotribune.com/2012-07-19/business/sns-rt-us-facebook-walmartbre86i1er-20120719_1_retail-behemoth-wal-mart-ceo-mike-duke-zuckerberg
Organizations span the full range of use but….
Organizational use
Employee use
No use
Ban use
One-way “broadcasting”
Allow use
Encourage use
Two-wayconversations
..the majority are
here
Teigland 2012
2012
My company has blocked my computer from accessing
most social media sites. But I feel cut off from my network so now I just connect through
my phone.
Management cannot mandate social relationships
Photo: ac360.blogs.cnn.com
Wide adoption of internal use across industries
Google, Millward Brown, 2012
Use of social networking toolswithin organizations
Used for
Significantimpact
Google, Millward Brown, 2012
ExploitationImproving
existing value creation activities
ExplorationDeveloping new value creation activities
Adapted from March 1991
The wisdom of the crowd
ClosedExpensiveComplexAccurate
OpenInexpensive
SimpleClose enough
Hinton 2007
AccurateUp-to-date
30% profit margin in
commodity business
sketchstreet
From clothing to home products….
The new market place
A shift by companies from being “problem solvers” to “solution finders”
Ericsson & Augur 2011
Shifting market logic
Ericsson & Augur 2011
Into the future….
Who develops it?
Who finances it?
Who manufactures it?
The Firm
The Collective
vs
E.g., Microsoft~ Built by employees within
organizational boundaries
E.g., Linux~ Built by users and distributed freely regardless of affiliation
Models of Knowledge Creation
Teigland, Di Gangi, & Yetis 2012
“Open source” …not just about software anymore
New forms of financing
http://blog.intuit.com/trends/crowd-power-what-is-crowdfunding-infographic/
Fb daniel
Daniel BergqvistFounder http://blog.pennybridge.org/
3D printing becoming more commonplace…
…and it’s no longer just for companies
3D scanning apps
Affordable home 3D printers
Where is all this
happening?Online
Access to 24x7 global workforce
Matchmakers: USD 1bln industry
Increasing supply of freelance talent globally
https://www.elance.com/trends/talent-available
Global Online Employment ReportQ2 2012 at Elance
OpenSimulator: A value-creation ecosystem
AcademicEntrepreneurHobbyistLarge FirmNon-profitLocal PublicFederal PublicResearch InstSME EmployeePeriphery
Teigland, Di Gangi, & Yetis 2012
Here comes the Immersive Internet….
O’Driscoll 2009
What are Virtual Worlds ?
http://www.youtube.com/watch?v=Quh2OiPHkm8
Platforms for unleashing creativity and revolutionizing
value creation
The number of virtual worlds and users continues to rapidly increase
http://www.slideshare.net/nicmitham/kzero-universe-q1-2012
≈1.9 bln accounts
≈100 worlds
Training and simulation for Providers of Healthcare Delivery
In hospital counseling atUniv of New England
Virtual hallucinations at UC Davis
Pharmacy training at Umeå U
Emergency training w/ SAIC
Accelerating innovation to meet global needs
Teigland et al. 2010
Integrating users in development
process
http://www.youtube.com/watch?v=2kMNWBU1Yb8
Cloud party on Facebook - In beta Marketplace app and Cloud Coins
https://www.facebook.com/CloudParty
≈1.4 bln VW accounts under age 16
http://www.slideshare.net/nicmitham/kzero-universe-q1-2012
225 mln
170 mln
200 mln
265 mln42 mln
Developing international entrepreneurs?
“Clearly, if social activity migrates to synthetic worlds, economic activity will
go there as well.” Castronova, 2006
$14.8 billion worldwide market for virtual goods in 2012E
http://www.superdataresearch.com/monetization-is-a-four-letter-word/
US$ 635,000 for a virtual asteroid!
http://blogs.forbes.com/oliverchiang/2010/11/13/meet-the-man-who-just-made-a-cool-half-million-from-the-sale-of-virtual-property/
• US$ 500,000 profit in 5 years by Jon “Neverdie”
Jacobs• Entropia Universe with GDP
>US$ 440 mln
The future of immersion…
http://www.bbc.com/news/technology-19568451
History tends to repeat itself….Innovation, financial crisis, industrial revolution,
…
Steam engine
Internal combustion
engine
Microelectronics
Late 18th C Late 19th C Late 20th C
Schön 2008
Third industrial revolution?
From factories to office parks to….
From the mobility of goods to the mobility of financial capital to …
Teigland, JVWR, 2010
...the “mobility” of labor?
Some things do not change
Innovation Exchange
Exchange Trust
Trust RelationshipsRelationships Interaction
Are you ready?
Karinda Rhode
aka Robin Teiglandrobin.teigland@hhs.se
www.knowledgenetworking.org
www.slideshare.net/eteigland
www.nordicworlds.net RobinTeigland
Photo: Lindholm, Metro
Photo: Nordenskiöld
Photo: Lindqvist
If you love knowledge, set it
free…
Interested in learning more?
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