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The Journey Onward — to Digital Business
Traditional Business
Goes Online
EDIBI
Portals
E-business
CRMWeb
Web
Static Web Presence
Pre Web
Traditional Business
ERPCRM
Analog
Focus
Entities
Technologies
People People Business People Business
MobileBig dataSocial
D-marketing
Going to the Customers
People Business
Post Nexus
BlurringPhysical &
Digital
Sensors3D printing
Smart Machines
D-business
Q3. Which level best describes your organization's business today?
N = 356
Pre Nexus77%
Analog Business
1%
DigitalMarketing
41%
Digital Business22%
eBusiness12%
Web-Based Business
24%
People
People Business
Where Are You Now?
• Fire• Sanitary and cleanup
• Medical specialists
Consumer Electronics
Government
Healthcare
Financial Services
Automotive
Retailers
Legal
• Smartphone car crash technology
• Law enforcement• Safety
• First responders• Emergency rooms
• Insurance (property and casualty)• Banks (loan risks)
• Damage control sensors• Safety deployment
• SMART clothing
• Accident attorneys
Current Business +
Digital Technologies
= Digital Business
Internet of ThingsSmart machines3D printingHuman augmentationMobile, social, analytics, cloud
Digital TrendsSharing economyUnbanked coming onlineSecond screenQuantified self
New RegulationsLegalization of autonomous vehiclesLegalization of remote prescriptionsTaxation and trade policies on 3D printed goods
Creating a Digital Business
Digital Business, Full-Scale Mandates
Manufacturer +
Digital Technologies
Digital Trends
New Regulations
=
Internet of Things, big data, 3DP
Digitalization of service, maintenance& manufacturing
Industrial Internet
Industrie 4.0Country + =
Digital Technologies
Digital Trends
New Regulations
Smart city, industry competitiveness
Singapore Smart Nation Platform
Internet of Things, 3D Printing, big data
EU directives on IoT and environ.
None
New Competitors and Digital Substitutes
Taxis + =Internet of Things, mobile, social
Sharing economy
Digital Technologies
Digital Trends
New RegulationsLegalization of private drivers taxiing
Cigarettes +
New dispensing technology and Internet of Things
Cessation of smoking, quantified self
Digital Technologies
Digital Trends
New RegulationsLegalization of e-cigarettes by region
e-Cigarettes
=
New Digital Products and Services
Healthcare Delivery
+
Digital Technologies
Digital Trends
New Regulations
=Internet of Things, mobile
Consumers expect/accept telemedicine
Healthcare Insurance
+ =
Digital Technologies
Digital Trends
New Regulations
Internet of Things, wearables
Quantified self, preventative medicine
U.S. Affordable Care Act increases wellness incentives
Increased legalization of telemedicine. U.S. healthcare reforms. More favorable healthcare insurance coverage
> 50% virtual visits
HealthSpot & Rite Aid
New Digital Products and Services
Financial Services
+ =Big data, social
Unbanked coming online
Digital Technologies
Digital Trends
New Regulations
"Mr. Ma (Alibaba), … has a trove of data revealing whether small firms pay their bills on time. He can also bundle together firms that know each other, so that a seller can help guarantee a bank loan to a regular customer. According to Alibaba the proportion of Ali-loan's lending that goes bad is a trifling 0.35%" Source: Economist
Eliminating digital divide. Banking licenses granted to e-commerce players
Digital Technologies
Digital Trends
New Regulations
Auto Insurance+ =Internet of Things, mobile
Young drivers not owning cars, insurance too expensive One-day car
insurance, Tokio Marine
Legalize pay-as-you-drive insurance
31
New Experiences in Digital Future
Entertainment + =Wearables, IoT
Quantified self and wearables as fashion
Digital Technologies
Digital Trends
New RegulationsNone Disney Magic Bands
Advertising + =Analytics, video
Using physical space as medium
Digital Technologies
Digital Trends
New RegulationsNone British Airways
Digital Business Creates Risks
Enterprise Impact
Competitive Impact
Customer Impact
Risk of doing Risk of not doing
• Customers are not ready or don't follow.
• Customers have increased privacy/security concerns.
• You invest too early.• You take on more
brand/political risk due to security, privacy & ethical issues.
• You are unprepared for new digital entrants.
• Digital tech. & trends change customer demands and you cannot meet them.
• Competitors hire digital talent first.
• Your investments are tied up in the wrong things.
• You miss out on benefits that lead to shareholder or citizen value.
• Competitors let you spend money to test models and educate customers on behalf of the whole industry.
• You give up first mover advantage.