23 Oct 2019
In October 2019 I attended a course at IVEY Business School in Toronto, CA, focused on Digital Innovation and Digital Transformation orchestrated by former Harvard Professor Rob Austin and Ning Su, 40 under 40 best business school teachers.
The case discussions focused on the future of business in a connecting world and the influence of platforms, Artificial Intelligence, and Machine Learning. For instant how will the future be for Netflix? They disrupted a market themselves but are they about to be disturbed? Will Amazon, Disney, Apple etc. win the Entertainment battle due to the volume and power. Can Netflix survive or will the fail?
This is certainly a difficult question to answer. On October 16th a report showed that Netflix still makes a lot of money but they have troubles attracting more costumers to the platform after some not too succesful series launches.
Furthermore, we studied cases like driveless cars, WeChat, Alibaba vs. Amazon etc. and the power of platforms. To sum it up at last, our conclusion is that there will be a few small, but big platforms (could be Amazon, Apple, Google, Facebook, WeChat, Alibaba) that will dominate the market. It might be different in East and Vest. In East it will probably be WeChat and Alibaba where in Vest it will be Facebook and Amazon/Google/Apple. It’s gonna be a tough fight and some might not survive on the future digital world.
The platform will try to establish a position where we will do everything through there eco-systems. Imagine, Google follow our data anywhere through our mobile devices. Which place can’t they follow us, yet? In the car… That’s why Google heavily invested in driveless cars to develop the data to make it possible and what happens when the car drives itself? You will use your mobilephone to buy stuff (SEO, AdWords), see stuff (YouTube) etc. and furthermore, your car will give you advises on where to stop for gas, grocery etc.
The big platforms are looking to become even bigger and the want to own the entire eco-system and the costumer.