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