Diginnovia - Innovation in the Digital Age

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Digital has changed the world around us; even innovation must change. First presented at the World Technology Forum October 23, 2012, New York City #WTN2012

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Diginnovia - Innovation in the Digital Age

  1. 1. This Changes Everything Dr. Augustine Fou October 23, 2012- 1 - #diginnovia Augustine Fou
  2. 2. @acfou – my perspective Omnicom Chief Digital Officer Digital McKinsey & Company MIT Advanced Professional Degree PhD, Materials Science- 2 - #diginnovia Augustine Fou
  3. 3. Digital is a catalyst Marketing Digital Business Technology- 3 - #diginnovia Augustine Fou
  4. 4. Innovation was mainlyfocused on PRODUCT- 4 - #diginnovia Augustine Fou
  5. 5. Innovation Disruptive Incremental Invention Better Step-Function Cheaper Category-Forming Faster- 5 - #diginnovia Augustine Fou
  6. 6. Seismic Transitions Agricultural Industrial Info ? Age Age Age Age Centuries Decades Years ? Farming freed people from manually Factories freed Information growing their own food. people from manual enabling manufacturing. people.- 6 - #diginnovia Augustine Fou
  7. 7. Digital has changedthe world around us …- 7 - #diginnovia Augustine Fou
  8. 8. Even INNOVATIONmust be changed- 8 - #diginnovia Augustine Fou
  9. 9. Digital has changedTECHNOLOGY- 9 - #diginnovia Augustine Fou
  10. 10. Internet Adoption 78% use internet Dark green: Source: Pew Internet, April 2012 50-64 yr olds- 10 - #diginnovia Augustine Fou
  11. 11. Dialup to Broadband Source: Pew Internet, April 2012 April 2012 Broadband 66% Dialup 3%- 11 - #diginnovia Augustine Fou
  12. 12. Landlines to Mobile- 12 - #diginnovia Augustine Fou
  13. 13. Feature to Smartphone Source: Nielsen March 2012 mobile mobility- 13 - #diginnovia Augustine Fou
  14. 14. Desktops to Laptops Tablets almost caught up to PCs Consumer sales of PCs and tablets Source: NPD, Morgan Stanley Research Percent of PC Shipments – Desktop vs. Portable Source: IDC Worldwide quarterly PC Tracker 65% Laptops- 14 - #diginnovia Augustine Fou
  15. 15. Computers to Computing Wintel- 15 - #diginnovia Augustine Fou
  16. 16. Software to Apps Packaged proprietary software 100’s 100’s of thousands- 16 - #diginnovia Augustine Fou
  17. 17. Speed of Adoption- 17 - #diginnovia Augustine Fou
  18. 18. Technology x.0 • Always on, always connected • From centralized to distributed • From hardware to services • Faster, adaptable, personalized- 18 - #diginnovia Augustine Fou
  19. 19. Digital has changedMARKETING- 19 - #diginnovia Augustine Fou
  20. 20. Advertising Push Pull Users do their own research Traditional Channels Digital Channels- 20 - #diginnovia Augustine Fou
  21. 21. Shift within digital To performance-oriented tactics Source: IAB, PwC April 2011- 21 - #diginnovia Augustine Fou
  22. 22. Users trust peers most 92% trust “recommendations from people I know” 47% trust “ads on TV” Source: Nielsen, April 2012 33% trust “online banner ads” 29% trust “text ads on mobile phones”- 22 - #diginnovia Augustine Fou
  23. 23. Product Reviews- 23 - #diginnovia Augustine Fou
  24. 24. Customer Advocacy passive/central active/real-time- 24 - #diginnovia Augustine Fou
  25. 25. B2B/Enterprise Marketing- 25 - #diginnovia Augustine Fou
  26. 26. Marketing x.0 • Users are empowered • New sources of trust – their peers • Show rather than tell • Immediate feedback loops- 26 - #diginnovia Augustine Fou
  27. 27. Digital has changedBUSINESS- 27 - #diginnovia Augustine Fou
  28. 28. Newspaper Industry- 28 - #diginnovia Augustine Fou
  29. 29. Music Industry- 29 - #diginnovia Augustine Fou
  30. 30. Video Rental Industry- 30 - #diginnovia Augustine Fou
  31. 31. 35mm Film Industry- 31 - #diginnovia Augustine Fou
  32. 32. Electronics Retail- 32 - #diginnovia Augustine Fou
  33. 33. Business x.0 • Industries are being replaced by more efficient versions of themselves • New industries and revenue models are being made possible • The speed of business has shifted historical advantages away from incumbents- 33 - #diginnovia Augustine Fou
  34. 34. Innovation in theNew Digital World- 34 - #diginnovia Augustine Fou
  35. 35. Irreversible changes • Shift of power to users • Move towards efficiency • Network effects to amplify • Speed- 35 - #diginnovia Augustine Fou
  36. 36. Digital - Catalyst Digital has the power to destroy … … and it has the power to create.- 36 - #diginnovia Augustine Fou
  37. 37. Digital - Catalyst Marketing Digital Business Technology- 37 - #diginnovia Augustine Fou
  38. 38. Technology Alone … … is not enough- 38 - #diginnovia Augustine Fou
  39. 39. Creative Zen vs iPod vs- 39 - #diginnovia Augustine Fou
  40. 40. Marketing Alone … … is not enough- 40 - #diginnovia Augustine Fou
  41. 41. Newton vs PalmPilot vs- 41 - #diginnovia Augustine Fou
  42. 42. Business Alone … … is not enough- 42 - #diginnovia Augustine Fou
  43. 43. FreshDirect vs WebVan vs- 43 - #diginnovia Augustine Fou
  44. 44. Innovation Requires All Marketing Digital Business Technology- 44 - #diginnovia Augustine Fou
  45. 45. Shrink-manufacturing ofnanomaterials “I got the idea for shrink-manufacturing nanomaterials from a childhood toy – Shrinky Dinks” Michelle Khine- 45 - #diginnovia Augustine Fou
  46. 46. Self-tying micro-sutures “In an auto-body shop I saw them repair a dent by heating the area; a light bulb went on that I can do the same with shape- Robert S. Langer memory plastics.” Prof. Materials, MIT- 46 - #diginnovia Augustine Fou
  47. 47. IDEO project rooms “We set up project rooms around the periphery of our open office and individuals from different disciplines go in and provide their Bill Moggridge perspective and contribute IDEO ideas and solutions.”- 47 - #diginnovia Augustine Fou
  48. 48. Demand-driven innovation “We need to change our mindset from supply-driven innovation to demand- driven innovation – what do customers want and how Ben Verwaayen quickly can we make it for CEO, Alcatel-Lucent them?”- 48 - #diginnovia Augustine Fou
  49. 49. We are only just beginning- 49 - #diginnovia Augustine Fou
  50. 50. CollaborativeInnovation- 50 - #diginnovia Augustine Fou
  51. 51. Distributed Computing Folding@Home Started in 2007 15 million PlayStation 3 100 million computation hours- 51 - #diginnovia Augustine Fou
  52. 52. Action: Create, Refine Amass content, filter and self-police Community edits and refines the content over time- 52 - #diginnovia Augustine Fou
  53. 53. Action: Curate, Tag Digg.com – news that others are reading and sharing Delicious bookmarks – what others find valuable and tag- 53 - #diginnovia Augustine Fou
  54. 54. Action: Filter, Prioritize Yelp.com – filtering up the best restaurants User reviews and discovery based on others’ actions- 54 - #diginnovia Augustine Fou
  55. 55. Action: Share, Discuss LinkedIn.com Facebook.com- 55 - #diginnovia Augustine Fou
  56. 56. Action: Crowdsource Crowdfunding projects Crowdsourcing creative design- 56 - #diginnovia Augustine Fou
  57. 57. Action: Problem-Solve Ask and answer questions Collective problem-solving to tackle difficult challenge- 57 - #diginnovia Augustine Fou
  58. 58. Innovation is a process Marketing Digital Business Technology ^- 58 - #diginnovia Augustine Fou
  59. 59. Innovation must be an interdisciplinary process- 59 - #diginnovia Augustine Fou
  60. 60. Solar Desalination Plant Augustine Fou 1985- 60 - #diginnovia Augustine Fou
  61. 61. Digital has changed everything …- 61 - #diginnovia Augustine Fou
  62. 62. Rapid Collaborative YOU ARE HEREInnovation- 62 - #diginnovia Augustine Fou
  63. 63. How do we ensure that nothing will ever be the same again?- 63 - #diginnovia Augustine Fou

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