The connection economy: Evolving from the Industrial Age

The introduction of mobile devices, apps and the cloud allow users to find information instantly. They are one click away from a product page, a review or from buying something online. Users connect with other users, people help each other and thanks to the cloud, we can create platforms where we bring offer and demand together. People can help people and companies help facilitate this. There are lots of examples like PiggyBee (transport of goods by travelers), Uber, Airbnb, kickstarter, Foodora etc. In nowadays world, we share. The connected economy is also a shareconomy. Completely new business models emerge and can sometimes even vanish traditional companies. The article below explains why companies need to be open for change and start changing their business models so that they can compete in the connected age.

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It was proposed that concerns about the economy were a major driver in the outcome of the recent US election. In particular, many voters were upset about the loss of manufacturing jobs that dominated the industrial economy for much of the nineteenth and twentieth centuries, fueling the eventual rise of a powerful middle class. Though these concerns are legitimate, since nobody likes to lose a well-paying and stable factory job, the reality is that the world economy is shifting from traditional industrial manufacturing to a connection economy.
 
What is the connection economy, anyway?
 
Though there is little doubt that automation and robotics are displacing factory workers, as with every industrial revolution, that’s just the way dynamic economies work. When companies realized they could use steam and water to power their factories over 100 years ago, the economy shifted, creating new and different jobs.
 
In today’s cloudy and mobile world, another shift…

 

Read the entire article from MobileBusinessInsights here: Evolving from the Industrial Age

 



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