A Historical shift in the Economy and Society

A Historical Shift in the Economy and Society
Irving Wladawsky-Berger

Accelerating Advances in Digital Technologies Source: Kurzweil 1999 – Moravec 1998 Digital technologies are to the 21st century as steam power was to the Industrial Revolution 1900 1920 1940 1960 1E-5 1E-3 1E+0 1E+3 1E+6 1E+9 1E+12 $1000 Buys: Computations per second Integrated Circuit Discrete Transistor Vacuum Tube Electro- Mechanical Mechanical 2020 2000 1980 Nanotechnology

Continuing Technology Advances Huge amounts of information Billions of mobile devices; trillions of sensors Massive computational power and storage capacity High bandwidth, wireless networks . . .

The Internet: Industrial Information & Knowledge Economy

Internet Evolution Networking TCP-IP Information World Wide Web Communications e-mail . . . Business, Government, . . . e-business Services, Apps, . . . Cloud Computing Internet Collaboration, Blogs, Wikis, . . . Social Media

The decreasing cost of technology is reducing the “digital divide” and democratizing access to government and business e-services of all sorts ~$6,000 1981 1994 2011+ Cost ~$2,000 $25-50 1% Penetration 10% 75% PC Media / device Laptop / internet Phone Non existent e-services potential Medium High The last three decades have witnessed tremendous progress in global digital connectivity and ubiquity Towards Ubiquitous Connectivity

22 Consumption Model: The Mass Customization of Services Delivery Model: The Industrialization of Services Cloud Computing: a consumption and delivery model for services, apps, information, . . .

Cloud Computing 4 Banking Retail IT
Consumption model: focused on the overall end user experience
Standardized service offerings
Rapidly provisioned
Flexibly priced
Ease of access
Self-service
Delivery model: focused on overall infrastructure management
Virtualized resources
Managed as a single large resource
Delivering services with elastic scaling
Economies of scale
Deploy technology advances

6 Clouds enable ubiquitous access to applications from an increasingly diverse set of devices On demand self service Anytime from any device Decoupling data from device Unified communications Delivery of real time data and analysis

Real-time Information access, analysis and optimization The world's physical, digital & financial infrastructures are converging 16

15
A Planet of Smart Cities
In 1900 only 13% of the world’s population lived in cities
Now, the majority of the world’s populations lives in cities
By 2050, cities will likely make up over 70% of the world’s population
Urban areas are expected to absorb all the planet’s population growth
- 2.5 billion people - over the next four decades

Smart Cities Services Public Safety Government Services Water Healthcare Transportation Energy and Utilities

Cell Phones: The New Local Bank? In developed countries approximately 81% of adults are banked vs. 28% in developing in countries There are ~5 billion cell phone users worldwide but only 1.8 billion bank accounts UK
91.0%
92.4%
Africa
20.0%
48.0%
Source: Yankee Group, Financial Access Initiative US
91.0%
84.7%
Brazil
43.0%
82.9%
Russia
69.0%
94.5%
India
48.0%
56.2%
China
42.0%
53.4%
Gap Narrowing Gap Widening 2 – 3 billion underserved 1.8 billion bank accounts 4.8 billion mobile phones 6.9 billion people

Three disruptive forces are reshaping the global payments landscape |
Ubiquitous connectivity driving next wave of digital commerce , both online and mobile:
Technological advances and decreasing costs have driven exponential growth in digital access
A surge in online and mobile connectivity has resulted in significant digital commerce growth
Accelerating shift from paper-based to electronic payments across global markets
Developed markets continue shift away from cash and checks
Cash-based economies in emerging markets turn electronic as consumers become banked and new payments forms emerge
Integration of information-based services with payments , driven by new players and business models
Targeted and contextual marketing
Identity and fraud solutions
Pricing and supply chain optimization

A Historical Shift in the Economy and Society
Irving Wladawsky-Berger

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A Historical shift in the Economy and Society

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