Product Innovation Talk w Heads of Innovation at Wirecard & Gini
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Product Innovation Talk w Heads of Innovation at Wirecard & Gini
- 1. Product Innovation Talk with Heads of Innovation at Wirecard & Gini
- 2. Join 35,000+Product Managers on Free Resources Discover great job opportunities Job Portal prdct.school/PSJobPortalprdct.school/events-slack
- 3. CERTIFICATES Your Product Management Certificate Path Product Leadership Certificate™ Full Stack Product Management Certificate™ Product Management Certificate™ 20 HOURS40 HOURS40 HOURS
- 4. C O U R S E S Corporate Training Level up your team’s product management skills
- 5. Sara Maki T O N I G H T ’ S S P E A K E R Head of Innovation Initiatives Wirecard Labs
- 6. Lions Head 10.10.2019 © Wirecard 2019 6
- 7. How Wirecard Innovates Sara Maki Head of Innovation Initiatives Wirecard Labs 10.10.2019 © Wirecard 2019 7
- 8. Agenda ▪ Future Demands ▪ What we Do ▪ What we Learned ▪ How you can join 10.10.2019 © Wirecard 2019 8
- 9. How are millennials shopping? 10.10.2019 © Wirecard 2019 9 95% want brands to engage them actively 2X more often mobile wallets are used by Millennials and Gen Z than Gen X or Baby Boomers *”The 17 Ecommerce Trends”, Big Commerce 2018 **”Insight outlook who are millennial shoppers what do they really want?”, Accenture 2018 86% of buyers are willing to pay more for a great customer experience 47% smart products in their homes
- 10. 10.10.2019 © Wirecard 2019 10 Smart homes
- 11. Virtual Reality 10.10.2019 © Wirecard 2019 11
- 12. Introducing Wirecard The Wirecard visionary playing field 10.10.2019 © Wirecard 2019 12 Status Quo 80–85% cash transactions worldwide … … whereas only 15–20% of all transactions are electronic … … with only 8–10% of all electronic transactions being fully digitized.1 [1] Source: World Payments Report 2018. https://www.capgemini.com/de-de/wp-content/uploads/sites/5/2018/10/World-Payments-Report-WPR-2018_Web.pdf Vision More digital transactions, biometric payments, voice, digital identity, pay with data, and unified
- 13. Wirecard Labs 10.10.2019 © Wirecard 2019 13 Acceleration Ideation, Crowdsourcing, Partnerships Prototyping Blockchain, Biometrics, IoT R&D Research Papers, Testing Leadership Raising the digital IQ
- 14. Leveraging Knowledge of Wirecard & Stakeholders How does it work 10.10.2019 © Wirecard 2019 14 Insights Open Challenge for millennials on payment expectations Global Global Challenge with 5,000 Employees Targeted Campaigns in the Business Lines on business improvement Platform Common “social” platform to collaborate, scale, measure and learn
- 15. Our Story 10.10.2019 © Wirecard 2019 15 3 Accelerated Process improvement innovations 20% Of employee base are active users on the platform 1 Product Team Is currently in MVP stage 83% Of participants would like to have ability to frequently submit ideas 30% Target of faster ideation to implementation time
- 16. 10.10.2019 © Wirecard 2019 16 Global Employee Innovation Challenge Global 20 Countries From all over the world Experience Employees with 2 months & 5 years, Juniors to VP’s 10% Workforce 10% of the workforce submitted ideas
- 17. Case Study 1: Wish Fish 10.10.2019 © Wirecard 2019 17 Innovation Challenge ▪ 2018 Winner of the global Innovation Challenge Prototyping ▪ 80% would be interested in using online price negotiation ▪ 80% would choose a shop that offers price negotiation ▪ 82% would return to the same online shop ▪ 78% would be likely to buy additional products MVP ▪ Early feedback from customers as well as stakeholders enabled the team to develop quickly ▪ Funding could be ensured through presentations to CPO Product line ▪ A year later the former winner is an own product
- 18. Wish Fish – Innovation Challenge 2018 Winner Wish Fish: MVP Development 10.10.2019 © Wirecard 2019 18
- 19. 10.10.2019 © Wirecard 2019 19 What we Learned Test quickly and cheaply Funding in gates Get quick wins Communicate effectively with partners Ensure management endorsement Measure sentiment
- 20. Case study 2: Wirecard Innovation Challenge 10.10.2019 © Wirecard 2019 20 Market research InsightsSpot talent Build the Innovation Ecosystem Product Development Partnerships
- 21. Wirecard Innovation Challenge Insights ▪ Purpose: Get insights into consumer needs and their imagination of future payments trends ▪ Incentive: Visit a major tech event, showcase your idea and pitch it to a jury of experts ▪ Objective: Collaborate with public and create Insight Report ▪ Platform Insights: ▪ +700 people registered ▪ Ideas from Southern Africa, India, Iran and Germany 10.10.2019 © Wirecard 2019 21
- 22. Wirecard Innovation Labs Thank you for your attention 10.10.2019 © Wirecard 2019 22 Wirecard Technology GmbH | Einsteinring 35 | 85609 Aschheim | Germany | labs@wirecard.com
- 23. Tobias Lukas T O N I G H T ’ S S P E A K E R Head of Innovation
- 24. Agenda 1 Importance of early innovation 2 Chances and pitfalls: 3 company types 3 Key success factors 4 Innovation @ Gini 5 Q&A
- 25. Agenda 1 Importance of early innovation 2 Chances and pitfalls: 3 company types 3 Key success factors 4 Innovation @ Gini 5 Q&A
- 26. Examples Source: 50 Examples of corporations that failed to innovate; November 22, 2018 https://valuer.ai/
- 27. The Importance Early Innovation Pharmacies / Drugstores Music Industry Publishing Industry Lodging / Travel Mobility / Public Transport Marketplace
- 28. Amazon – Innovation Role Model Online Bookstore eCommerce Platform Web Services eBook Reader 1 2 3 4
- 29. Agenda 1 Importance of early innovation 2 Chances and pitfalls: 3 company types 3 Key success factors 4 Innovation @ Gini 5 Q&A
- 30. Agenda 1 Importance of early innovation 2 Chances and pitfalls: 3 company types 3 Key success factors 4 Innovation @ Gini 5 Q&A
- 31. 3 Company types Large multinational enterprise (≈150k employees) Big international corporation + innovation lab (<30k employees) Startup (<100 employees)
- 32. Large Multinational Enterprise = ?Little
- 33. Resources Large Enterprise - Learnings + - Decisions Failure CultureKPI-driven Inhouse Knowledge Speed
- 34. Big Corporation with Innovation Labs = .
- 35. Rapid testing Big Corporation with Innovation Labs - Learnings + - Awareness Int. CommunicationExt. Communication Funding Acceptance
- 36. Startup = $
- 37. Startup = $$
- 38. Startup = $$
- 40. Agility Startup - Learnings + - Missing strategy Resource limitationsPartnerships Product focus Late innovation
- 41. Agenda 1 Importance of early innovation 2 Chances and pitfalls: 3 company types 3 Key success factors 4 Innovation @ Gini 5 Q&A
- 42. Agenda 1 Importance of early innovation 2 Chances and pitfalls: 3 company types 3 Key success factors 4 Innovation @ Gini 5 Q&A
- 43. Key Success Factors Customer focus – think outside the box! Innovate when ahead of the game Dedication – time, resources, commitment Collaboration & culture Disrupt yourself As creative as possible & as efficient as needed Awareness & communication KPI-driven Strategy alignment
- 44. Agenda 1 Importance of early innovation 2 Chances and pitfalls: 3 company types 3 Key success factors 4 Innovation @ Gini 5 Q&A
- 45. Agenda 1 Importance of early innovation 2 Chances and pitfalls: 3 company types 3 Key success factors 4 Innovation @ Gini 5 Q&A
- 46. Servus, We are Gini! Non Tech People Tech People 40 Ginis Tech addicted and customer oriented Market leader in AI and data extraction from documents Strong, value-based culture We simplify life.
- 47. Experiments Customer focus – think outside the box! There are a lot of methods that help you to break out of the box: - Systematic Inventive Thinking (SIT) - 6 hats - Newspaper method - Design Thinking - …
- 48. The Gini-way
- 49. Zoom in: Idea Generation Idea - Features - Product enhancements - Small effort (≤ 2 Sprints) - No-brainer - Must haves Decision: Product faculty - Bigger effort / high invest - Unclear business case - New markets - New solutions - New products - Etc… Inno Process by Inno Lab Consulting ? Inno LabProduct faculty Sales Faculty
- 50. Zoom in: Idea Generation https://ginis.ideas.aha.io/ideas/new 🡨 Internal ideas form External ideas form 🡨 (Product Roadmap SW) Idea Contributor kicks off Inno Process by filling out this form or getting in touch with Tobias to do this together
- 51. Map Your Business Model Network Customer A Customer‘s Customer Channel Partner Competitor A Competitor B Competitor C Customer B Strategic Partner & Service Providers Customer C
- 52. Farbcodes Gini HEX #e30b5d RGB 227, 11, 93 HEX #ffce00 RGB 255, 206, 0 HEX #4b4b4b RGB 75, 75, 75 HEX #000000 RGB 0, 0, 0 HEX #1ae2ae RGB 26, 226, 174 HEX #ffce00 RGB 0, 158, 220 HEX #afb2b3 RGB 175, 178, 179 HEX #ffffff RGB 255, 255, 255
- 54. Andrey Bachvarov T O N I G H T ’ S S P E A K E R Serial Entrepreneur with passion for innovation
- 55. Agenda ▪ Why innovate the GRID? ▪ Redesigned Value Chain and Ecosystem ▪ The Risks of Digital Complexity ▪ Grid Use Case example ▪ Role of AI
- 56. Value chain redesigned Information from Smart Devices and Appliances Power Generation Power Transmission Power Distribution Energy Retail Electric Devices and Appliances End-use Customers Traditional Electricity Value Chain Emerging Electricity Value Chain Power Generation Power Transmission Power Distribution Energy Retail Electric Devices and Appliances End-use Customers Information Flow • Two-way power flow • Overflow of information from smart devices
- 57. Digital Consumer of the Future Utility of the future looks more like an internet service provider or a mobile carrier and includes cloud, social media, mobile apps and data analytics
- 58. Rate of Digitalization Sources: Navigant Research, government data Europe $11.6 bln in smart grid technology revenue by 2023 80% smart meter penetration by 2023 4,138 electricity suppliers and distribution system operators 216 mln households USA & Canada $17.5 bln in smart grid technology revenue by 2023 60% smart meter penetration by 2023 1000+ electricity suppliers and distribution system operators 138 mln households Asia & Australia $30.3 bln in smart grid technology revenue by 2023 45% smart meter penetration by 2023 514 mln households in China, Japan, Australia and New Zealand Utilities are expected to spend $37 bln on customer information systems and analytics between 2014 and 2023
- 60. Ecosystem never been so complex
- 61. CEZ Electro and Distribution Example BULGARIA
- 62. The Grid
- 63. The Accessibility of the Grid
- 64. The Grid up Close
- 65. 69 Electric Distribution Companies (EDCs) have to inspect millions of kilometers of power lines every year and they lose money doing it ineffectively und inefficiently. 1 The current inspection process is increasingly slow and costly 2 Areas are hard to access and grid elements are not properly inspected 3 The data is very difficult to analyze because it is on paper Problem
- 66. 1 2 3 We use drones for technical inspection Our drones fly to places where humans or vehicles cannot go We automatically annotate problems for preventive maintenance Solution
- 67. Company Purpose We are data analytics company using drones and high fidelity, visual, laser and thermal monitoring to help utilities, renewables and any other asset that requires any kind of visual inspection for its operation and maintenance. What do we do?
- 68. PowerDrone Digital Grid Twin
- 69. PowerDrone automatic problem ID
- 71. PowerDrone Digital Twin Image recognition current accuracy rates 100% for transformer stations for poles and insulators for commutation equipment for different sub-types of insulators (ceramic, glass, silicon) for different sub-types of metal poles (stretcher, holder, angle) 99% 97,8% 96,6% 90,55%
- 72. Success stories - Inspection of two MV power lines nearby Sofia, Bulgaria - 35 unplanned shut-downs for 2,5 months before drone inspection & analytics - After detecting the problematic spots and executed preventive repairs – only 5 shut- downs on both power lines for a period of 2.5 months - Result: 700% improvement Achievements
- 73. Choosing the right Neural Network is not obvious • Feedforward NN • Convolutional NN • Fully Convolutional NN • Deconvolutional NN • GANs • Deep Learning • Intuitive • Binary > Instances Neural networks for image processing
- 74. Image Classification and Recognition Processing via CNNs • Similar to the human brain • Specially designed for Image Processing • Requires less pre- processing • No hand filters • Learns during training • Convolution layers –filtering the input image and extracting specific features such as edges, curves, and colors • Pooling layers – Improve the detection of unusually placed objects. • Normalization layers – boost performance by normalizing the inputs of previous layer. • Fully connected layers – neurons have full connections to all activations in the previous layer • Feature Extraction • Classification Convolutional Neural Network
- 75. • Adding visual noise kills most NNs • Perturbation • Need for deep learning Example of adversarial image misclassification. Image credit: OpenAI Adversarial Images
- 76. • Helps with Adversarial Images • Huge reduction of human inputs for fake vs true discrimination • Ability to train on scenarios not existing in the training set Generative Adversarial Networks
- 77. Azure Cognitive Services • Image classification • Scene and activity recognition in images Computer Vision Example
- 79. www.productschool.com Part-time online Product Management Training Courses and Corporate Training