The Use of Knowledge in Today's Society


Published on

Slides for the Hong Kong International Computer Conference 2011: Delivering Sustainable Value in a Knowledge Society, the Challenge for Hong Kong

The HKICC is an annual event organised by the Hong Kong Computer Society (HKCS). Its goal is to bring together IT professionals and business and government leaders from all over the world to explore the opportunities that information technology can offer, sharing successes and insight. More than 500 delegates attended last year's conference, representing a variety of local and overseas public and private sector organisations.

Published in: Business, Health & Medicine
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide
  • The obligatory brag slide.
  • von Hayek quoted from his famous 1948 paper “The use of knowledge in society” in his acceptance speech when he won the Nobel prize in economics in 1974. His point was that knowledge in a society is disorganized and decentralized, and sometimes contradictory.
  • Recent History: The Internet is breaking down barriers to knowledge. Information now around the world instantaneously, without filters. This new unfiltered knowledge transfer medium has ushered in regime change and social upheaval.
  • The micro-blogging site, Weibo, has caused social change in China. The high speed train crash had over 3000 “tweets” and could not be censored. Lost children have been found on Weibo as well as coordination of C2C disaster relief. Weibo is the pulse of China!
  • Think there is information overload today? 500 years before von Hayek made his Nobel prize speech, people complained about information overload and knowledge management. When the printing press was invented, people complained that there were too many books! How did they determine what books to read? Social interactions. Similar to today.
  • The world has went social. The growth of social media is mind boggling. All of the social media platforms have open APIs for developers to interact with and build application on top of.
  • Hong Kong is a unique place to manage this new social media/knowledge revolution. It is an extremely wired place with tremendous penetration of social media. Your business can’t ignore it!*Last bullet is a fly in, as a joke (but it is true)
  • This new revolution brings new challenges to your business. The consumerization of IT is a problem for IT, employees bring their phone(s) to work. Customers will expect you to have interact with them on social media, and they will complain (loudly) on social media. Mobile and Globalization have launched your company into the global marketplace without even asking you.
  • Embrace Social Media, don’t fight it!
  • The Use of Knowledge in Today's Society

    1. 1. The Use of Knowledge in Today’s Society Stephen Forte Chief Strategy Officer, Telerik @worksonmypc
    2. 2. About Steve…
    3. 3. The Use of Knowledge in Society “The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess. ” --Friedrich von Hayek, 1948
    4. 4. Knowledge Is Power• 2008: Barack Obama uses social media to help get elected • The First president on Twitter • Replaced the weekly radio address with YouTube• 2009: Iran uprising after elections coordinated on Twitter• 2011: Arab Spring and the “Facebook Revolution”• 2011: Occupy Wall Street
    5. 5. Even in China…Source:
    6. 6. Information Overload
    7. 7. Web 2.0: Knowledge Goes Social• The content providers are platforms (Web 2.0) • Open APIs for developers
    8. 8. Hong Kong’s Opportunity• #1 in the World Competitive Index• One of the fastest broadband in the world• 163% mobile phone penetration in HK • More carriers in HK than in the US!• Facebook penetration is over 50% • #1 market for FB as %• Highest Rents in the world! 
    9. 9. Your Business: New Knowledge Management Platform• The “consumerization” of IT • 95% of KW bring their own device to work• Social Media • A new way to speak to your customers • New way for customers to complain! • One to one, not one to many• The rise of mobile and 4G • NFC and the digital wallet • New marketplaces, new ways to pay• Globalization • Your brand is now global, even if you don’t want it to be• Free communication • Video Skype, etc, breaks down barriers between you and customers
    10. 10. Call to Action!• Your business has to change to adapt to the new rules of Social Media.• Hong Kong also presents a unique opportunity to start a knowledge based business!