The document summarizes Jim Spohrer's presentation on open innovation and the singularity with regards to the future of industries and business models. Spohrer discusses how business models and technologies co-evolve, with value propositions changing from saving time to reducing costs to providing more value through user models and building blocks. He predicts that by 2035, most people will have at least one cognitive assistant, and by 2055, people will have 100 cognitive assistants each. Spohrer also outlines the CSIG (Cognitive Systems Institute Group) model of collaboration between IBM and universities to advance research in cognitive systems.