Open Innovation, Crowdsourcing Platforms and Disruptive Technologies

The better the Stitch Fix stylists—human and machines—are at providing their customers with products they will love, the better their business runs.

 

“Here are just 10 of the inevitable changes that are coming over the next 30 years:

 

Where can you get find out about 1,300 of the newest technologies? How is fashion retail adopting AI? Why is open innovation an epic fail in science? What is one expert calling the biggest social and technical shift of the last 100 years? Or how do you separate fact from block chain fiction? And, which are the top 10 big data analytics tools you should consider?

Want To Know What Technologies Are Coming In The Future? There’s a Database For That

“Spider silk transformed into fiber for tissue reconstruction; paper that conducts electricity; renewable diesel fuel; and new techniques for regenerating aging or diseased skin. These are just a handful of examples from a new database of over 1,300 new technologies currently making their way through Israeli Technology Transfer Organizations [TTOs] associated with universities, research institutes, and medical institutions. The new searchable database is designed as a layer in Start-Up Nation Finder, a free-to-use innovation discovery platform from Start-Up Nation Central (SNC), an Israeli non-profit that connects businesses, governments, and organizations around the world to Israeli innovation.” forbes.com Amir Mizroch Shutterstock. A look into the future of Israeli innovation.

Stitch Fix: The Amazing Use Case Of Using Artificial Intelligence In Fashion Retail

“Stitch Fix has combined the expertise of personal stylists with the insight and efficiency of artificial intelligence to analyze data on style trends, body measurements, customer feedback and preferences to arm the human stylists with a culled down version of possible recommendations. This helps the company provide its customers with personalized style recommendations that fit their lifestyle and budgets. The better the Stitch Fix stylists—human and machines—are at providing their customers with products they will love, the better their business runs. As they invest in merchandise they know their customers will love, the less they waste on warehouse space, return costs and donating items that weren’t sold.” www.forbes.com  by Bernard Marr , Adobe Stock

Why Do Open Innovation Efforts Fail? Scientists Want to Solve Problems Themselves.

“It took us months to realize what was going on here: The most resistant scientists and engineers saw open source methods as a fundamental challenge to their professional identities. They defined themselves as “problem solvers,” but open innovation crowdsourcing platforms didn’t let them play that role; instead, they had to frame problems for someone else to solve. “I’ve always been attracted to places that allow you to be able to think and solve greater problems,” one scientist told us, “If I can’t do it at NASA, what is keeping me from going somewhere else?” By contrast, there were other scientists and engineers who perceived the open methods as an opportunity to enhance their role and capabilities. As some engineers described it, this transition was a shift from thinking “the lab is my world” to “the world is my lab.” They argued for the need to let go of the “how” of their work and refocus on the bigger “why.” They called on their colleagues to shift their professional identities from “problem solvers” to “solution seekers.”  hbr.org  by Hila Lifshitz-AssafMichael L. TushmanKarim R. Lakhani DON FARRALL/GETTY IMAGES

This May Be The Biggest Economic And Social Shift Of The Last 100 Years. Are You Ready?

“Here are just 10 of the inevitable changes that are coming over the next 30 years:

  1. Insurance companies will need to adjust models for insuring human-driven vehicles, making car ownership a financial luxury for individual owners.
  2. The role of the automobile as a form of transportation from point A to point B will be transformed into a form of entertainment and socialization creating a new platform for the delivery of content and media. You will basically be living inside of your smartphone!
  3. Autos will function as platforms for socialization in which people connect and gather. Some will be mobile conference and meeting rooms, others mobile restaurants and clinics. Commute time will cease to exist and along with it untold hours of lost productivity. Could this be the Drive-In of the 21st Century?
  4. The AV will finally allow the decongestion of urban city centers, which are today littered with automobiles that occupy valuable land. For example, in the typical large city 50 percent of the land area is dedicated to roadways and parking. Urban and rural areas will see a resurgence of activity as commute time becomes a non-issue.
  5. If projected out to 2050 we may save over one trillion dollars in the US alone since the cost of motor-vehicle deaths, injuries, and property damage in 2016 was $432 billion in the US alone, according to the National Safety Council.
  6. Deaths due to vehicular accidents will be reduced globally by over 1,000,000 lives yearly.
  7. The evolution of EVs and AVs will vary significantly from geography to geography and country to country. While commercial autonomous vehicles will likely develop quickly in developed countries such as the USA, individual non-ownership-based AVs are likely to take longer. Non-intuitively, the inverse is true of developing countries, such as India and China, which will have a higher economic incentive and regulatory latitude to move to AVs.
  8. There will be widespread employment disruption within developed countries that rely heavily on both the manufacture of owner-driven vehicles. Dealerships will disappear entirely.
  9. Lending for auto loans will shift dramatically from human owners to vehicles that own themselves.
  10. And lastly, let’s not forget the impact of vehicles on the planet. According to a study by NASA, vehicles are the single largest contributor to climate change.” inc.com By Thomas Koulopoulos  Founder, Delphi Group

187 Things the Blockchain Is Supposed to Fix

“But in this moment, few business trends can compete with the magic of blockchain technology. Blockchains, which use advanced cryptography to store information across networks of computers, could eliminate the need for trusted third parties, like banks, in transactions, legal agreements, and other contracts. The most ardent blockchain-heads believe it has the power to reshape the global financial system, and possibly even the internet as we know it. Now, as the technology expands from a fringe hacker toy to legitimate business applications, opportunists have flooded the field. Some of the seekers are mercenaries pitching shady or fraudulent tokens, others are businesses looking to cash in on a hot trend, and still others are true believers in the revolutionary and disruptive powers of distributed networks.” wired.com By Erin Griffith. Graphic:ALYSSA FOOTE

Top 10 Big Data Analytics Tools For Successful Data Analytics Developers

“Earlier, entrepreneurs used to call data analysis “business intelligence,” which perfectly characterizes the essence because data could provide a competitive advantage to those who used and interpreted them properly. Nowadays, a new term for referring to business intelligence was coined: “big data.” This name also makes a good sense because since the times of “business intelligence” the volumes of data became incredibly large. As the result, more effort should be applied to deal with them and make it useful for analytics professionals.” 1. Cassandra  2. Hadoop 3. Plotly 4. Bokeh 5. Neo4j 6. Cloudera 7. OpenRefine 8. Storm 9. Wolfram Alpha 10. Rapidminer    http://tecmatters.com by SYED

Steps:

(3) Pick options designed to attract better opportunities.  You don’t want to miss out on lucrative jobs or entrepreneurial ventures that will fuel  a real change in your lifestyle.

(5) Anticipate changing circumstances and economic cycles.

(7) Persist and pivot to navigate external threats and opportunities.

(19) Anticipate the growing shifts in life and business. Nobody wants to swim upstream if the current is moving everything in the opposite direction.

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