Online rising business keynote 6th ispim innovation symposium 9 decemnber 2013


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Keynote Address at 6th ISPIM Innovation Symposium – Innovation in the Asian Century

The International Society for Professional Innovation Management. Melbourne, Australia.

Unstoppable Rise of Online Services
Digitisation of Industries
Global networking of Industries
What’s ahead

Distinctive Economics of Online
Online Gravity
En Masse
Self Service

Data science and online innovation

Published in: Business, Technology
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Online rising business keynote 6th ispim innovation symposium 9 decemnber 2013

  1. 1. Online Rising And what it means for you. Innovation for Business Stream @PauleMcCarthy
  2. 2. What’s in this talk Unstoppable Rise of Online Services ● Digitisation of Industries ● Global networking of Industries ● What’s ahead Distinctive Economics of Online ● Online Gravity ● En Masse ● Self Service Data science and online innovation
  3. 3. The Digitisation Tsunami Continues
  4. 4. As Global Social Graphs expand...
  5. 5. Software is eating industries... • Online leaders are consuming the place held by traditional leaders in a range of industries o Video: Neflix & Blockbuster o Encyclopedia: Wikipedia & Encyclopaedia Britannica o Photography: Instagram v Kodak o Retail: Amazon vs Border o Health is next...
  6. 6. Software is eating industries...
  7. 7. IBM is now a software company... IBM's A Software Company Now!
  8. 8. Future here but distributed unevenly
  9. 9. Future here but distributed unevenly
  10. 10. Rise of digital and online
  11. 11. Digitisation precursor to online Online music
  12. 12. Health is next... 80% of doctors can be replaced by machines. - Vinod Khosla @vkhosla.
  13. 13. Australia is renowned for health care
  14. 14. Digital health technology strengths Health Informatics ● Cochlear (Public, ASX:COH 2291 Employees) ● iSoft (Acquired by CSC 2011) ● Resmed (Public, NYSE:RMD 3700 Employees)
  15. 15. And education...
  16. 16. Global Export Education Rising
  17. 17. Digitisation and Quality of life
  18. 18. Distinctive Economics of Online Ecosystems and Dynamics of Online ● Online Gravity ● En Masse ● Self Service
  19. 19. The Ecosystem ● Are there winning patterns? ● Certain traits or strategies work and lead to new stories being created ● Beginning, middle and end ● These are common to digital & analogue
  20. 20. Online Gravity
  21. 21. 100 years of competition in cola market from same three competitors. Leader, challenger & niche - dominant form of traditional markets.
  22. 22. However this is not the case in Online markets. ...they tend toward monopolies.
  23. 23. Increasing returns due to platform-lock in and benefits of network effects.
  24. 24. Goodbye Jaguar Jobs.
  25. 25. Value of En Masse CollectionsValue of En Masse Collections
  26. 26. Would you choose? Joseph Bank’s Diaries 100 years SMH Or Cost to digitise = $1m Cost to digitise = $1m
  27. 27. Public En Masse Data Collections ● Google Books and Culturomics - All books ever published ● Internet Archive - History of the Web etc ● Trove’s Newspaper Australia - Australia’s Newspaper Archive
  28. 28. Culturomics at Harvard University
  29. 29. From Worst to Best in class. Value of Self-Service Tools DELTA and Commonwealth Bank
  30. 30. Value of Self-Service Tools
  31. 31. Academics like self-service too... Qualtrics rapid expansion to 5000 customers including 96 of Top 100 Global Business Schools
  32. 32. Data Science Online’s Third Wave.
  33. 33. Data Science is the new wave Statistics now overtaken Economics as the most popular course at Harvard University. Stats has seen a 10x Growth in the last Five years at Harvard.
  34. 34. Universities: Berkeley, Stanford, Waikato Research Institutes: NICTA, MIRI, Enterprise: IBM, Microsoft & Wolfram. NGOs: Mozilla, Internet Archive, R Foundation. Startups: Trifacta, Kaggle & DataElite (VC). Todays Frontiers in Data Science
  35. 35. View from SF “The Aussies are slowly but surely taking over... Australia’s Online Scene Growing
  36. 36. Who now follows Australian Tech closely? A: The Kings of Global Technology Finance. Paul GrahamNaval Ravikant Dave McCLure Rich Wong Australia’s Tech Cred on the Rise
  37. 37. Sydney ● #1 City in the World for Data-Driven Startups. Nov 2012
  38. 38. Future Directions Next Generation Online Services
  39. 39. The 10,000 hour rule ● Greatness requires 10,000 hours of deliberate practice ○ The Beatles "Hamburg Years" 1200 performances 1960-1964 ○ Bill Gates: 10,000 hours programming Based on studies by Dr. K. Anders Ericsson and popularised by Malcolm Gladwell in his book Outliers.
  40. 40. The Beatles "Hamburg Years" 1200 performances 1960-1964
  41. 41. Hacking the 10,000 hour rule "An Australian racer qualified for the Olympics just 18 months after she first saw a sled. Amazingly, she had completed only 220 runs before qualifying. A typical US skeleton racer makes upwards of 2,000 runs before appearing in the Olympics. - Wired, June 2012 Michelle Steele, Surf life saver turned Australian Winter Olympian.
  42. 42. The Knowledge Economy Institute aims to have Xerox PARC like impact in Data Science.
  43. 43. Impact of Xerox Parc ● Apple (GUI, Mouse, Ethernet, postscript, Laser printers) ● Microsoft (Windows interface Mouse & GUI) ● HP (Laser Printers) ● Adobe (Postscript)
  44. 44. Center for Research in Securities Prices (CRSP) World's first comprehensive data set of historic share data "Chicago-effect" CRSP est 1960 1970-2010 25 Nobel Laureates in Economics
  45. 45. Chicago Three of the largest global derivatives exchanges ● CME, CBOE, CBOT
  46. 46. More Jobs... Finance & Business: Now Chicago's Largest Employer
  47. 47. Highly-paid jobs... Chicago: Finance highest wage industry & US premium
  48. 48. Chicago-effect ● Higher disposable Income
  49. 49. Chicago-effect ● Higher tax base
  50. 50. Knowledge Economy Institute Visualisations:GaryOverton/Aedis,Bristol2010. Advancing Australia's Global Lead in Data Science.
  51. 51. Melbourne Funds & Super Sydney Banking Insurance Markets Wollongong Funds Admin & Tech Australia’s strengths in Finance
  52. 52. Tourism and Travel Innovation Lab Tourism Analytics Campus based in Wollongong Australia’s Strengths in Tourism Tourism and Travel Innovation Lab HQ in Sydney.
  53. 53. Sensor Platform Lab Sensor Pre-Analytics Lab in Sydney Australia’s Strengths in Agriculture Statewide Sensor Network HQ in Hobart.
  54. 54. Paul McCarthy, Director of Strategy and Innovation, SIRCA Limited @paulemccarthy Online Rising