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Parallel Bets, Microsoft, and AI Strategies
Milja van 't Noordende shared a great article from Matthew Ball outlining the impacts of strategic approaches to large digital disruptions covered with uncertainties and high levels of change - such as AI.
Matthew starts by outlining the journey of Microsoft with its business models, partnerships and ecosystem plays over time, focusing on how ÂŽparallel betsÂŽ and not only focusing on one area has helped them to experiment, learn and gather information to succeed. This has not only been the past, as current AI initiatives of Microsoft show also multiple parallel moves, competing and/or conflicting with each other.
In contrast, Matthew shows how Amazon took a different approach: betting fully on Alexa regarding AI and passing many partnerships and investment opportunities. This has resulted in Amazon to spend 2023 fully resetting its AI strategy, including an AWS marketplace for third-party AI solutions, investments and development of its own models.
How Can a C2M Platform Ensure Customer Love Translates to Market Disruption?
Alex Pesjak shared a new edition of his newsletter: "Business Model Innovation can be radical. Incumbents typically are taking baby steps towards that, while new players are bold and try. Many come and go, and some are here to stay.
Existing leaders often seem to move their organization incrementally too much attached to what they are used to, while new ventures "find ways to do it better" (see quote up there) with platforms unbundling and rebuilding the offers and taking out steps of a traditional linear business and value chain.
Old wisdom says that it is not the big that eat the small but the slow get eaten by the fast. In this creator and networked world, it is also the consumer that has higher expectations than you can fulfill.
Now some of the "trends" might not fully work, but certain principles might create value and innovation that stay. It is startups that pioneer this mainly. An example of it is C2M and what might stay we will see."
Ecosystems Can Help Generate New Revenue Streams for Banks
Prasad MK shared an interesting article:
"The COVID pandemic accelerated the customer demand seeking hyper-connected digital experiences, which could cut even across other industries. We highlighted this trend in our âBanking on the Cloudâ ebook. Banks are accelerating the development of their strategies and solutions to deliver banking as a service (BaaS) and ecosystem banking capabilities to their customers and partners. In this blog, we dive deeper on how financial institutions are implementing their ecosystem strategy focusing on:
Ecosystem patterns adopted by the financial services firms
Key considerations for a successful ecosystem strategy
Amazon Web Services (AWS) reference architecture to accelerate the ecosystem build and scale efforts"
Hangâs Guide to Next Gen Loyalty in Web3
Web3 isn't just a technology infrastructure, it's an incredible opportunity for businesses to innovate and reimagine how customer loyalty works. Here's a great overview of the opportunity space shared by Anna Noakes Schulze:
"Consumers cut and collected tops of General Mills products, like cereals and mixes, in order to keep the physical points printed on the cardboard. The reason? Enough box tops worth enough points could be mailed in for items from the Betty Crocker catalog.
This was a rewards program to end all rewards programs, brand loyalty woven into the fabric of many families' lives.
And yet, in 2006, General Mills discontinued Betty Crocker points and catalog. Consumer behaviors had changed alongside new technologies. It was clear 20th-century loyalty programs fit unevenly in the 21st.
Thatâs why loyalty programs need an update."
Milja van 't Noordende's Takeaways from MET AMS 2023
Last week Milja van 't Noordende attended MET AMS 2023. Here's what she shared in the community: "I am glad to see us climbing the curve and showing increasingly more value and impact through immersive experiences and web3.
My key takeaways:
đ„ Platform model is being increasingly embraced by web3 and metaverse innovators as a way to create value and connect individuals and companies - reducing friction and increasing the widely sought for adoption. Please see below a few examples.
đCreators are experimenting with AI in wealth of interesting ways. Special mention to Lisanne Buik for her ethical AI focus and experiments to align with the principles of nature.
đ Not only economical climate impacts events, also nature can have its say in event participation. Netherlands in November is for the brave đ"
Find out her pick of three Platforms showcased at MET AMS to pay attention to in the community.
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