Wednesday, July 5, 2017

The Network Of Everything: Personal Networks Will Have To Cope With At Least A Thousand Devices

There is a macro referential paradigm change from an Economy based on natural resources and physical inputs into one based on knowledge, Intellectual assets, technology market transfer processes and commercialization of innovation at global scale. In fact, this new paradigm is generating “innovation waves” and “changes”.

One of the key driving forces is focusing on "Digital technologies": the Internet of Documents (Adobe), the Internet of Commerce (Amazon, eBay, Alibaba, JD, etc.), the Internet of People (Facebook, LinkedIn, etc.) and, more recently, the Internet of Things (IOT). About $700 billion USD were the annual revenues in 13 countries that represent approximately 70% of world GDP. Revenues will double to 1,55 trillion USD in 2017, while generating employment for 3 million people already and 23% annual increase in revenues. No doubt, app economy is flourishing. Moreover, falling smartphones' prices fuel global penetration and use in developing markets, by increasing from 20% in 2013 into 35% in 2017, while global users will raise from 1,5 billion to 3 billion in the same period. Besides, competition and innovative disruptions drives mobile internet growth and networks of things. In fact during 2008, the number of "things" connected to the internet exceeded the number of people on earth.

It is important to note that this "Network Everything" trend is leading society into new challenges like big data getting bigger, mobile computing, regulation, security and privacy and more globalization. But, what is more than "digital technology" as driving force are "social, educational and cultural changes", as well as the "digital business transformation" challenges ahead for governments, companies and citizens that will influence and shape industries, markets and behaviours.

Keywords: Regional Innovation Systems; Digital Business Transformation; Innovation Modelling; Internet-of-Things; Cross-Cultural Management and Globalization; Knowledge-based Economy; Growth; Competitiveness; Policy Making.

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