discussion board
After completing the Required Readings for this Module, select a key idea or analytic trend that you found is driving change across global economies and respond to the following:
1. What key idea or analytic trend did you find surprising?
2. What would you tell someone about why that fact or idea is important to SDG 9? (This should link your key idea or analytic trend to SDG 9)
For example, one of the readings discusses that the next billion internet users will likely come from developing countries. That may have important implications for companies and governments interested in big data…
respond in A written response post of 1-2 paragraphs, ~100 words each.
the lecture is attached
https://news.trust.org/item/20180228105555-8071d/
https://www.youtube.com/watch?time_continue=3&v=mhe5kX10CR4&feature=emb_title
Industry 4.0
Professor Patrick Lynch
0
1
2
3
4
5
6
7
10k BCE 8k BCE 6k BCE 4k BCE 2k BCE 0 1k 2k
W
or
ld
p
op
ul
at
io
n
in
b
ill
io
ns
2
Early
Agriculture Pottery Plow Irrigation 1st Cities
Literature &
Math
Industrial
Revolution
Penicillin
Computers
& Internet
Nuclear
Energy
Big Data &
Blockchain
Machine
Learning, AI
Automation*
Technologies Created with <1M people on the planet... ~1 Billion @ 1800; ~2 Billion @1930; ~7.7 Billion today *Automation: Software and Robotic Industry 4.0 0 1 2 3 4 5 6 7 10k BCE 8k BCE 6k BCE 4k BCE 2k BCE 0 1k 2k W or ld p op ul at io n in b ill io ns 3 Early Agriculture Pottery Plow Irrigation 1st Cities Literature & Math Industrial Revolution Penicillin Computers & Internet Nuclear Energy Big Data & Blockchain Machine Learning, AI Automation* Technologies Created with <1M people on the planet... Source: The World as 100 People Over the Last Two Centuriesby Max Roser 83% greater basic education 89% less poverty 91% less child mortality During the industrial revolutions of the past 200 years... https://ourworldindata.org/wp-content/uploads/2017/01/Two-centuries-World-as-100-people.png The Analytic March Toward Industry 4.0 INDUSTRY 1.0 Mechanization Clocks 1700s INDUSTRY 2.0 Mass Production Workflow 1800s INDUSTRY 3.0 Computers / Intranet Automation 1900s INDUSTRY 4.0 Exponential Data Exhaust Machine Learning, Artificial Intelligence, Blockchain Industry 4.0 Analytics More data and measurement than ever before in human history Potentially omnipotent measures of supply chains, customers, operations NOW 4 5 The worlds most valuable resource is no longer oil, but data --The Economist, May 6, 2017 Industrial Revolution 4.0 https://www.economist.com/news/leaders/21721656-data-economy-demands-new-approach-antitrust-rules-worlds-most-valuable-resource 6 Industry 4.0: An analytic revolution underway A digital industrial revolution is swiftly causing global businesses to rethink revenue models. Digital analytics are transforming how customers are found, serviced, and kept. Business operations are retooling as digital technology changes partnerships, suppliers, and vendors. The future prosperity of society will be defined by how we creatively use, deploy, and assimilate digital technologies in all the sectors of the economy and by how the culture is shaped by this paradigm shift. 7 Industry 4.0: An analytic revolution underway As AI Makes More Decisions, the Nature of Leadership Will Change HBR, Jan 22, 2018 A digital revolution in health care is speeding up Economist, May 2, 2017 Blockchain applications could bring overdue change to critical functions in shipping, real estate. WSJ, March 11, 2018 Future of Organizations & Work: Broad and Deep Change A changing world demands new approaches to leadership, talent management, and organization. Retraining and reskilling workers in the age of automation. McKinsey, 2018, Jan 18 https://hbr.org/2018/01/as-ai-makes-more-decisions-the-nature-of-leadership-will-change https://www.economist.com/news/business/21717990-telemedicine-predictive-diagnostics-wearable-sensors-and-host-new-apps-will-transform-how https://www.wsj.com/articles/why-blockchain-will-survive-even-if-bitcoin-doesnt-1520769600?emailToken=44bd4ac786fdbf2815fa028770725b210Wcd52LEhOmCZcOF6sV2ulu/Om5ELtNQPXipv8ijP+MwVjgUSp2ZeM+y7FolvZW70yyWUA3Hu4TfVpgO2JzzCB1UFo3hh7Yf0zbIPIqSLcs= https://www.mckinsey.com/global-themes/future-of-organizations-and-work/retraining-and-reskilling-workers-in-the-age-of-automation 8 Industry 4.0: An analytic revolution underway Innovative Technologies and Analytics: Big data, AI/machine learning, Internet of Things, AR/VR, automation Innovative Efficiencies and Productivity: Digital marketing, sales, products, services and operations, 360 view of customers & markets Innovative Globalism: Digital infrastructure, smart cities, privacy, security, and trade, labor changes, future of work Digital Technologies & Analytics Business & Industry Government & Policy Globalization 4.0, Shaping a New Global Architecture in the Age of the Fourth Industrial Revolution, World Economic Forum, April, 2019 http://www3.weforum.org/docs/WEF_Globalization_4.0_Call_for_Engagement.pdf 9 Industry 4.0: Transforming how we organize and work Innovations are spawning from new cross-functional collaborations that challenge traditional policy and leadership philosophies about how people are hired, managed, and organized. Digital Technologies & Analytics Business & Industry Government & Policy 10 Industry 4.0: Is transforming talent and skills Business people with analytic acumen, not just data scientists. The C-Suite is now among Common analytics-enabled jobs Data-Driven Decision Makers Business Functional Analysts IT Data Engineers (Hardware & Software) Data Scientists and Advanced Analysts Analytics-enabled Jobs Data Science Jobs 52% 35% 20% 2%Multi-Industries Finance & Insurance Health Care Manufacturing Professional Retail Trade % of U.S. Jobs requiring analytical skills across industries PWC 2017 analysis https://www.pwc.com/us/en/library/data-science-and-analytics.html 11 Takeaway Summary Industrial Revolutions are related to analytics and new ways of getting things done. Industry 4.0 and analytics impact all economic sectors. Analytic enabled jobs growing across all sectors. Attention Economy Professor Patrick Lynch 1 2 4 8 ... ? Industry 4.0 Magnitude Give me one grain of rice for the first square of the chessboard, two grains for the next square, four for the next, eight for the next and so on for all 64 squares, with each square having double the number of grains as the square before. 2 1 2 4 8 ... ? Industry 4.0 Magnitude 3 Industry 4.0 Magnitude 18,446,744,073,709,551,615 18 quintillion, 446 quadrillion, 744 trillion, 73 billion, 709 million, 551 thousand, and 615 in grains of rice, wheat (or currency). Volume of ~1019 = ~Total Earth biomass 1 2 4 8 ... ? The Legend of Sessa, Sessa Technologies, blog, 2014 The Amazing Chessboard Theory, by Sachin Kate, August 9, 2015 Wheat and chessboard problem, Wikipedia, 4 http://www.sessatechnologies.com/the-legend-of-sessa http://trailblazernetizens.blogspot.com/2015/08/the-amazing-chessboard-theory.html https://en.wikipedia.org/wiki/Wheat_and_chessboard_problem Industry 4.0 Magnitude You are offered a job for 7 weeks. For your compensation you may choose either. $100 for the first day, $200 for the second day, $300 for the third day. Each day you are paid $100 more than the day before. 1 cent for the first day, 2 cents for the second day, 4 cents for the third day. Each day you are paid double what you were paid the day before. A B $122,500 $5,629,499,534,213 The Rice And Chessboard Story: Learning How Doubling Makes Numbers Grow By Michael Hartley 5 http://www.dr-mikes-math-games-for-kids.com/rice-and-chessboard.html Industry 4.0 Magnitude Processing Power Moores Law: Processing power doubles every 18 months Communication Speed Butters Law: Communication speed doubles every 9 months Storage Capacity Kryders Law: Storage capacity doubles every 13 months 6 .5 10 15 20 25 30 35 40 2005 2008 2011 2014 2017 2020 D at a vo lu m e in B ill io ns o f T er ab yt es 0 Chart: conceptual estimates See original: Porche, Isaac R., et al. Big Data: Challenges and Opportunities. Data Flood: Helping the Navy Address the Rising Tide of Sensor Information, RAND Corporation, 2014, pp. 16. JSTOR, www.jstor.org/stable/10.7249/j.ctt6wq8rr.9. page 4. 7 http://www.jstor.org/stable/10.7249/j.ctt6wq8rr.9 The worlds most valuable resource is no longer oil, but data --The Economist, May 6, 2017 Industrial Revolution 4.0 8 https://www.economist.com/news/leaders/21721656-data-economy-demands-new-approach-antitrust-rules-worlds-most-valuable-resource Industry 4.0 Economics Exponential growth in tech capacity Exponential growth in data Scarcity governs economics: precious resources Therefore data alone is not the basis of Industry 4.0 economy Attention is intrinsically scarce Capturing attention and delivering benefits through data creates value 9 Every business is an engine fueled by attention Industrial Revolution 4.0 --Tom Davenport & John Beck, The Attention Economy T.H. Davenport and J.C. Beck, The Attention Economy, (Boston: Harvard Business School Press, 2001), 17-22. 10 Industry 4.0: The Attention Economy The worlds most valuable resource is no longer oil, but data Scarcity governs economics Attention is intrinsically scarce Capturing attention and delivering benefits through data creates value ResultsA B C Interpretations & Actions Attention 11 Industry 4.0: The Attention Economy The worlds most valuable resource is no longer oil, but data Scarcity governs economics Attention is intrinsically scarce Capturing attention and delivering benefits through data creates value Supply Demand Attention Scarcity Today Time Attention Quality 12 Market-ready Products & Services Vertical Innovation Return on Knowledge (Intellectual Property) Return on Infrastructure (Physical Assets) Raw Inputs Suppliers Producers Distributors Market-ready Products & Services Network Innovation Raw Inputs Suppliers Producers Distributors Industry 4.0: The Attention Economy *Content providers like Microsoft, Google, Facebook and Amazon now own or lease more than half of the undersea bandwidth. Read more: How the Internet Travels Across Oceans By SATARIANO, New York Times, MARCH 10, 2019 Attention Economy: Innovation Driven Relationships 13 https://www.nytimes.com/interactive/2019/03/10/technology/internet-cables-oceans.html Vertical Innovation Return on Knowledge (Intellectual Property) Return on Infrastructure (Physical Assets) Raw Inputs Suppliers Producers Distributors Market-ready Products & Services Network Innovation Raw Inputs Suppliers Producers Distributors Market-ready Products & Services Industry 4.0: The Attention Economy *Content providers like Microsoft, Google, Facebook and Amazon now own or lease more than half of the undersea bandwidth. Read more: How the Internet Travels Across Oceans By SATARIANO, New York Times, MARCH 10, 2019 Telecommunication Companies* 14 https://www.nytimes.com/interactive/2019/03/10/technology/internet-cables-oceans.html ANALYTICS ANALYTICSANALYTICS BUSINESS PROCESSES BUSINESS PROCESSES BUSINESS PROCESSES BUSINESS PROCESSES ANALYTICS Analytics embedded in processes reshapes business. See more: 2019 BI Trends Dan Sommer, Qlik Webinar 01-15-2019 Industry 4.0: The Attention Economy 15 https://drive.google.com/file/d/1iWESTQWix1SR23gTXvw3J5XyhuqNxJ9h/view?usp=sharing Industry 4.0: The Attention Economy Largest companies by Market Cap grew from 1 in 2001 to 10 by 2018 Microsoft, Apple, Amazon, Alphabet, Facebook, Intel, Cisco, Oracle, Netflix; Alibaba; as of March 18, 2019; Some sources also include Tencent 2018 Apple, Alphabet, Microsoft, Amazon, Facebook 2016 Apple 2011 Microsoft 2006 Microsoft 2001 1 1 1 5 The Largest Companies by Market Cap Over 15 Years, Visualcapitalist.com; August 12, 2016 by Jeff Desjardins Technology Defines the LARGEST Companies by Market Cap on Earth. Visualizing The Worlds 20 Largest Tech Giants, Visualcapitalist.com; July 6, 2018. The Biggest Tech Companies by Market Cap Over 23 Years, Visualcapitalist.com; March 18, 2019. Contrast this by REVENUE here: http://www.visualcapitalist.com/largest-50-companies-revenue-2016/ 10 16 https://www.visualcapitalist.com/chart-largest-companies-market-cap-15-years/ https://www.visualcapitalist.com/visualizing-worlds-20-largest-tech-giants/ https://www.visualcapitalist.com/biggest-tech-companies-market-cap-23-years/ http://www.visualcapitalist.com/largest-50-companies-revenue-2016/ Takeaway Summary Computing capabilities and data are growing exponentially. Attention is intrinsically scarce. Capturing attention and delivering benefits through analytics creates value. Technologies enabling this value creation now dominate global markets. 17
