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HOW SOCIAL
MEDIA PUSHES
INNOVATION
INNOVATION!
The act or process of introducing new ideas,
devices, or methods”
- Merriam-Webster online
“
INNOVATION!
Innovation is the specific function of entrepreneurship, [...] It is the means by which the
entrepreneur either creates new wealth-producing resources or endows
existing resources with enhanced potential for creating wealth.”
- Peter Drucker, Harvard Business Review, 2002
Economic innovation as “Creative Destruction” - The replacement of existing ideas,
technology, firms with new ones. It begins as monopolistic and grows to become more
competitive.
- Joseph Schumpeter
“
What do you think?
INNOVATION vs.
INVENTION
But what does innovation need to consider?
HUMAN + SOCIAL
“An invention is usually a “thing”, while an innovation is usually an
invention that causes change in behavior or interactions.”
- Bill Walker, WIRED Magazine
INNOVATION v. INVENTION
Innovation Matrix
Domain Definition
Not Well Defined Defined
ProblemDefinition
NotWellDefinedDefined
Can anyone provide an example for one of the different types of innovations?
(Greg Satell, Forbes)
HOW THEY
STACK UP
•Seeks to improve
existing systems
Incremental
Innovation
•There’s a clearly
defined problem
and a reasonably
good
understanding of
how to solve it
Sustaining
Innovation
•Uproots
conventions and
replaces existing
methods/
technologies
Disruptive
Innovation
•Helps create a new
market that
eventually disrupts
an existing market;
Radical/
Breakthrough
Innovation
ADOPTION
CYCLE
● Diffusion of Innovation Theory - Everett Rogers
○ Innovations are not adopted by all individuals in a social system at the same time
■ They tend to be adopted over time in sequence
○ Users can be classified into categories based upon how long it takes for them to
begin adopting a new idea
Innovators → Early Adopters → Early Majority → Late Majority → Laggards
But first,
WHO
WANTS
TO PLAY
A GAME
550 BC 1889 1966 1999 2005 2010 Today
SOCIAL
TIMELINE
Innovations in
Social Media
What are some areas of innovation in
social media that you can think of?
•Social Networking
•Social Curation
•Mobile Experience
Innovations in
Social Media
•Live Streaming
•Wearables
•Augmented & Virtual
Reality (AR/VR)
Social Networking
● What do you think this encompasses?
● How would you define social networking?
Social Networking
From Merriam-Webster online, social networking is:
“The activity of creating personal and business relationships with other
people, especially by sharing information, personal messages, etc., on
the internet”
Social Networking
& Innovation
● Something that has existed throughout history
○ The idea behind the building and maintenance of relationships
has shaped technology and led us to where we are today
● The concept behind social networking isn’t necessarily innovative
○ However, the technologies that have emerged can be
considered innovative
Examples of
Social Networking
& Innovation
E.g. Facebook
● Considered an incremental innovation
○ Was built upon the downfalls and success of MySpace
● Facebook has changed and shaped many aspects of our live such
as through the way we:
○ Keep in touch, share our lives, consume content, view privacy,
interact with businesses/consumers
E.g. Skype
● Considered a disruptive innovation; a threat to wireless operators
○ Low-cost telecommunication service allowed customers to
communicate at a fraction of the cost
● Ways in which Skype has changed how the world communicates:
○ Old boundaries are far less relevant and businesses have
been changed
E.g. Zynga
● Considered a disruptive innovation; changed the gaming industry
○ Integrated an online social gaming platform that doesn’t
require the use of a console
● Zynga has created communities of gamers and established a
platform for individuals to create relationships
Social
Curation
Social curation is the collaborative sharing of Web content organized
around one or more particular themes or topics
What is
Social
Curation?
Social Curation &
Innovation
● Content curation has changed the fundamentals of businesses
○ It’s changing business models, especially in the way
companies are now approaching marketing
E.g. GoPro
● Has anyone ever used a GoPro before?
● Are you aware of how GoPro markets their
products to consumers?
● Using the videos created and shared by their
clientele, the marketing team at GoPro takes
advantage of this content to help broadcast their
message
What Does
GoPro Do?
How Does
GoPro Do It?
● Around 6000 GoPro videos are posted online
each day but how exactly does GoPro’s content
marketing strategy work?
It All
Beings
With
#GoPro
Dedicated Webpages
Building Community
GoPro’s
Results
"When you factor in the strength of the brand, it’s so aspirational and
high-energy and cool that our customers want to be associated with it.
That is another reason why they tag, title and describe their content as
GoPro. The result is that GoPro is arguably the world’s largest
production force in the form of our customers and arguably, one of the
world’s largest ambassador movements."
-Nick Woodman
Prevalence of
Social Curation
● Are there any social curation sites that you can think of?
● What about the categories that these sites might fit into?
Reviews Forums Publishing Bookmarking
Prevalence of
Social Curation
The Mobile
Experience
&
Streaming
The Invention of
the Smartphone
One of the greatest inventions in 21
st
century.
Source: http://www.pewinternet.org/data-trend/mobile/device-ownership
Number of Smartphone Production
Compare: Social Media Use
vs Mobile Production
Source:http://www.pewinternet.org/data-trend/social-media/social-media-use-all-users/
Compare:
Online adults using social networking site
Social Media Use
vs Mobile Production
Social Media Platforms Hinge on
Mobile Capabilities
Facebook
Twitter
Share of Time spend on mobile platform
Source:http://marketingland.com/facebook-usage-accounts-1-5-minutes-spent-mobile-171561
● Users on mobile platforms
are more active.
● Mobile User shares twice
as often.
Social Media Platforms Hinge on
Mobile Capabilities
More opportunities.
Mobile Social
Network
& Business
Video Trend
By 2012, video became a popular content
format across Social Media
The Problem
Lost of originality.
Live Streaming Platforms:
Meerkat, Periscope, Facebook live
The Value
● “In the Moment”
● Originality
● Creating interaction, in real time.
HOW DO YOU MAKE
APPS MORE
ACCESSIBLE?
WEARABLES.
$25,000,000,000USD expected worldwide by 2019
57%Of consumers interested in making a purchase
245m unitsWearable devices to be shipping by 2019
WEARABLE
OPTIONS
Smartwatches / Fitness Trackers
These devices provide
notifications, extend smartphone
functionality, and log daily fitness.
Medical Devices
A large assortment of
technologies aimed to monitor,
log, and transmit medical data
to improve a user’s well being.
Augmented Reality
Overlaying digital information
over a user’s visual view to
extend smartphone
functionality.
Smartwatches:
● Apple Watch
● Android Wear
● Pebble
Fitness Trackers
● FitBit
● Nike+
SMARTWATCHES /
FITNESS TRACKERS
Some examples include:
● Hearing devices
● Visual aids
● Blood monitoring
● Attention tracking
● Posture monitoring
MEDICAL
DEVICES
AUGMENTED
REALITY
This area is quickly exploding with the
introduction of:
● Layar
● Yelp’s Monocle
● Pokemon Go
● Microsoft’s Hololens
ARTIFICIAL
INTELLIGENCE
AI
TAILORED SEARCH RESULTS
From basic machine learning to...
LIMITLESS
POSSIBILITIES
CLOUD COMPUTING FOR THE MIND
Interconnected intelligence!
Artificial intelligence is present in a variety
of places today:
● Targeted marketing
● Logistics
● Service automation
● Voice assistants
● Chatbots
TODAY
In the near future AI will be a core
player in the following industries:
● Medical
● Manufacturing
● Transportation
● Resource Management
● Synthetic Biology
TOMORROW
SOCIAL
MEDIA & AI
“By far the greatest danger of Artificial
Intelligence is that people conclude too early
that they understand it.”
― Eliezer Yudkowsky
Virtual and
Augmented
Reality
3 Elements Leading to Popularity
1. Meaningful Content
2. Convincing realistic interactions
3. Unique value
Applications?
Military, city planning, medicine,
advertising, interior design
“NEXT BIG THING”
Make-up/Fashion, Information,
Tourism, Entertainment, Social
Networking
>>
RACE FOR MASS
CONSUMERS
ImmersiveAmbient
Virtual Augmented
HTC Vive
Facebook - Occulus
Sony-Playstation
Microsoft Hololens
Google
Samsung Gear
Google
360 Video
Layar
Blippar
Google
THE FUTURE
● Affordable
Occulus
● Exist in virtual
or real
environments
with friends
● Facilitating
social
interactions
CHALLENGES?
● Providing real value
● Accessibility/Affordability
● Integration
● Security/Ethics
TAKEAWAYS
TAKEAWAYS
● Innovation vs. Invention
● 4 Stages of Innovation
● Changing Business Models
WHEEL OF
DISRUPTION
THANKS!
Sources:
Christensen, C. (2012). Disruptive Innovation. http://www.claytonchristensen.com/key-concepts/
Drucker, P. (2002). The Discipline of Innovation, Harvard Business Review.
https://hbr.org/2002/08/the-discipline-of-innovation
Econ in Motion. (2014). Video: Creative Destruction – Econ in Motion
Harvard Business Review. (2008) Video: “How to Spot Disruptive Innovation”
Javornik, A. (2016) The Mainstreaming of Augmented Reality, Harvard Business Review.
https://hbr.org/2016/10/the-mainstreaming- of-augmented- reality-a- brief-history
Orland, K. (2016). Will high-priced headsets kill mass-market virtual reality in its crib?, ArsTechnica
http://arstechnica.com/gaming/2016/02/will-high-priced-headsets-kill-mass-market-virtua
-reality-in-its-crib/
Pol, E & Carroll,P. (2006). An Introduction to Economics with Emphasis on Innovation.
Startup Grind. (2013). Video: Clayton Christensen - Innovators Dilemma a Startup Grind 2013.
Walker, B. (2015). Innovation vs. Invention, WIRED.com. https://www.wired.com/insights/2015/01/innovation-vs-invention/

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Social Media and Innovation

  • 2. INNOVATION! The act or process of introducing new ideas, devices, or methods” - Merriam-Webster online “
  • 3. INNOVATION! Innovation is the specific function of entrepreneurship, [...] It is the means by which the entrepreneur either creates new wealth-producing resources or endows existing resources with enhanced potential for creating wealth.” - Peter Drucker, Harvard Business Review, 2002 Economic innovation as “Creative Destruction” - The replacement of existing ideas, technology, firms with new ones. It begins as monopolistic and grows to become more competitive. - Joseph Schumpeter “
  • 4. What do you think? INNOVATION vs. INVENTION
  • 5. But what does innovation need to consider? HUMAN + SOCIAL “An invention is usually a “thing”, while an innovation is usually an invention that causes change in behavior or interactions.” - Bill Walker, WIRED Magazine INNOVATION v. INVENTION
  • 6. Innovation Matrix Domain Definition Not Well Defined Defined ProblemDefinition NotWellDefinedDefined Can anyone provide an example for one of the different types of innovations? (Greg Satell, Forbes)
  • 7. HOW THEY STACK UP •Seeks to improve existing systems Incremental Innovation •There’s a clearly defined problem and a reasonably good understanding of how to solve it Sustaining Innovation •Uproots conventions and replaces existing methods/ technologies Disruptive Innovation •Helps create a new market that eventually disrupts an existing market; Radical/ Breakthrough Innovation
  • 8. ADOPTION CYCLE ● Diffusion of Innovation Theory - Everett Rogers ○ Innovations are not adopted by all individuals in a social system at the same time ■ They tend to be adopted over time in sequence ○ Users can be classified into categories based upon how long it takes for them to begin adopting a new idea Innovators → Early Adopters → Early Majority → Late Majority → Laggards
  • 10. 550 BC 1889 1966 1999 2005 2010 Today SOCIAL TIMELINE
  • 11. Innovations in Social Media What are some areas of innovation in social media that you can think of?
  • 12. •Social Networking •Social Curation •Mobile Experience Innovations in Social Media •Live Streaming •Wearables •Augmented & Virtual Reality (AR/VR)
  • 13.
  • 14. Social Networking ● What do you think this encompasses? ● How would you define social networking?
  • 15. Social Networking From Merriam-Webster online, social networking is: “The activity of creating personal and business relationships with other people, especially by sharing information, personal messages, etc., on the internet”
  • 16. Social Networking & Innovation ● Something that has existed throughout history ○ The idea behind the building and maintenance of relationships has shaped technology and led us to where we are today ● The concept behind social networking isn’t necessarily innovative ○ However, the technologies that have emerged can be considered innovative
  • 18. E.g. Facebook ● Considered an incremental innovation ○ Was built upon the downfalls and success of MySpace ● Facebook has changed and shaped many aspects of our live such as through the way we: ○ Keep in touch, share our lives, consume content, view privacy, interact with businesses/consumers
  • 19. E.g. Skype ● Considered a disruptive innovation; a threat to wireless operators ○ Low-cost telecommunication service allowed customers to communicate at a fraction of the cost ● Ways in which Skype has changed how the world communicates: ○ Old boundaries are far less relevant and businesses have been changed
  • 20. E.g. Zynga ● Considered a disruptive innovation; changed the gaming industry ○ Integrated an online social gaming platform that doesn’t require the use of a console ● Zynga has created communities of gamers and established a platform for individuals to create relationships
  • 22. Social curation is the collaborative sharing of Web content organized around one or more particular themes or topics What is Social Curation?
  • 23. Social Curation & Innovation ● Content curation has changed the fundamentals of businesses ○ It’s changing business models, especially in the way companies are now approaching marketing
  • 24. E.g. GoPro ● Has anyone ever used a GoPro before? ● Are you aware of how GoPro markets their products to consumers?
  • 25. ● Using the videos created and shared by their clientele, the marketing team at GoPro takes advantage of this content to help broadcast their message What Does GoPro Do?
  • 26.
  • 27. How Does GoPro Do It? ● Around 6000 GoPro videos are posted online each day but how exactly does GoPro’s content marketing strategy work?
  • 31. GoPro’s Results "When you factor in the strength of the brand, it’s so aspirational and high-energy and cool that our customers want to be associated with it. That is another reason why they tag, title and describe their content as GoPro. The result is that GoPro is arguably the world’s largest production force in the form of our customers and arguably, one of the world’s largest ambassador movements." -Nick Woodman
  • 32. Prevalence of Social Curation ● Are there any social curation sites that you can think of? ● What about the categories that these sites might fit into?
  • 33. Reviews Forums Publishing Bookmarking Prevalence of Social Curation
  • 35. The Invention of the Smartphone One of the greatest inventions in 21 st century.
  • 36. Source: http://www.pewinternet.org/data-trend/mobile/device-ownership Number of Smartphone Production Compare: Social Media Use vs Mobile Production
  • 38. Social Media Platforms Hinge on Mobile Capabilities Facebook Twitter Share of Time spend on mobile platform Source:http://marketingland.com/facebook-usage-accounts-1-5-minutes-spent-mobile-171561
  • 39. ● Users on mobile platforms are more active. ● Mobile User shares twice as often. Social Media Platforms Hinge on Mobile Capabilities
  • 41. Video Trend By 2012, video became a popular content format across Social Media
  • 42. The Problem Lost of originality.
  • 43.
  • 44. Live Streaming Platforms: Meerkat, Periscope, Facebook live
  • 45. The Value ● “In the Moment” ● Originality ● Creating interaction, in real time.
  • 46. HOW DO YOU MAKE APPS MORE ACCESSIBLE? WEARABLES.
  • 47. $25,000,000,000USD expected worldwide by 2019 57%Of consumers interested in making a purchase 245m unitsWearable devices to be shipping by 2019
  • 48. WEARABLE OPTIONS Smartwatches / Fitness Trackers These devices provide notifications, extend smartphone functionality, and log daily fitness. Medical Devices A large assortment of technologies aimed to monitor, log, and transmit medical data to improve a user’s well being. Augmented Reality Overlaying digital information over a user’s visual view to extend smartphone functionality.
  • 49. Smartwatches: ● Apple Watch ● Android Wear ● Pebble Fitness Trackers ● FitBit ● Nike+ SMARTWATCHES / FITNESS TRACKERS
  • 50.
  • 51. Some examples include: ● Hearing devices ● Visual aids ● Blood monitoring ● Attention tracking ● Posture monitoring MEDICAL DEVICES
  • 52.
  • 53. AUGMENTED REALITY This area is quickly exploding with the introduction of: ● Layar ● Yelp’s Monocle ● Pokemon Go ● Microsoft’s Hololens
  • 55. TAILORED SEARCH RESULTS From basic machine learning to... LIMITLESS POSSIBILITIES CLOUD COMPUTING FOR THE MIND Interconnected intelligence!
  • 56. Artificial intelligence is present in a variety of places today: ● Targeted marketing ● Logistics ● Service automation ● Voice assistants ● Chatbots TODAY
  • 57.
  • 58.
  • 59. In the near future AI will be a core player in the following industries: ● Medical ● Manufacturing ● Transportation ● Resource Management ● Synthetic Biology TOMORROW
  • 60.
  • 61. SOCIAL MEDIA & AI “By far the greatest danger of Artificial Intelligence is that people conclude too early that they understand it.” ― Eliezer Yudkowsky
  • 63.
  • 64. 3 Elements Leading to Popularity 1. Meaningful Content 2. Convincing realistic interactions 3. Unique value Applications? Military, city planning, medicine, advertising, interior design “NEXT BIG THING” Make-up/Fashion, Information, Tourism, Entertainment, Social Networking >>
  • 66. ImmersiveAmbient Virtual Augmented HTC Vive Facebook - Occulus Sony-Playstation Microsoft Hololens Google Samsung Gear Google 360 Video Layar Blippar Google
  • 67.
  • 68.
  • 70. ● Affordable Occulus ● Exist in virtual or real environments with friends ● Facilitating social interactions
  • 71. CHALLENGES? ● Providing real value ● Accessibility/Affordability ● Integration ● Security/Ethics
  • 73. TAKEAWAYS ● Innovation vs. Invention ● 4 Stages of Innovation ● Changing Business Models
  • 76. Sources: Christensen, C. (2012). Disruptive Innovation. http://www.claytonchristensen.com/key-concepts/ Drucker, P. (2002). The Discipline of Innovation, Harvard Business Review. https://hbr.org/2002/08/the-discipline-of-innovation Econ in Motion. (2014). Video: Creative Destruction – Econ in Motion Harvard Business Review. (2008) Video: “How to Spot Disruptive Innovation” Javornik, A. (2016) The Mainstreaming of Augmented Reality, Harvard Business Review. https://hbr.org/2016/10/the-mainstreaming- of-augmented- reality-a- brief-history Orland, K. (2016). Will high-priced headsets kill mass-market virtual reality in its crib?, ArsTechnica http://arstechnica.com/gaming/2016/02/will-high-priced-headsets-kill-mass-market-virtua -reality-in-its-crib/ Pol, E & Carroll,P. (2006). An Introduction to Economics with Emphasis on Innovation. Startup Grind. (2013). Video: Clayton Christensen - Innovators Dilemma a Startup Grind 2013. Walker, B. (2015). Innovation vs. Invention, WIRED.com. https://www.wired.com/insights/2015/01/innovation-vs-invention/