Consumers make for interesting subjects.
We put them into cohorts to try understand them better and subject each to scrutiny aided by some machine learning algorithm or other such artificial intelligence.
The desired output of both these paths is to create services that a business feels are better suited for them, driving increased utility.
Consumers make for interesting subjects. We put them into cohorts to try understand them better and subject each to scrutiny aided by some machine learning algorithm or other such artificial intelligence.
The desired output of both these paths is to create services that a business feels are better suited for them, driving increased utility.
Increased utility on the back of solid unit economics should deliver a return on investment and then some for any product.
What I see in the market from the above-mentioned approach is that many companies, especially those that are ‘disrupting’ traditional ways of work, end up bundling or unbundling individual services, resulting in either purist products that focus on a niche or bloat covering the widest possible spectrum of needs.
In my opinion, we exist in a time where it should be possible to hyper-personalise singular services and not just the bouquet available to consumers.
The closest attempt that I have seen is in the telecommunications industry where a mobile network operator provides tools that allow subscribers to define their tariff based on current needs, locking the custom proposition for a certain length of time – say a week or month minimum, with the ability to tweak their tariff thereafter.
This is possible given the growth of API ecosystems across various industries. Financial services are being transformed as better, faster, and more affordable ways of moving and confirming value come to market.
Logistics optimisation is getting better. People’s movement is also api-fied. Insurance has gone digital and is accessible in smaller chunks of coverage.Smart manufacturing and production coupled with the growth of bulk no-label / private label actors can drive profitable niche market operations currently inaccessible due to heavy commoditisation while in healthcare, medical cycles from drug discovery, diagnostics, and treatments to management of health records are continually advancing.While we are used to consuming a particular product or service to address specific needs across our private and professional lives, I see a time soon where we will have platforms that offer consumers a Life Operating System or LifeOS.A single or minimal set of interfaces allowing consumers to swap […]