great article. With the recent bankruptcy of “toys R Us” and some of the other toy retailers, it is evident that the overall industry is in decline. Companies that want to survive in this environment will certainly need to be hyper-focused on the exact characteristics of customer demand and one way to do that is through open innovation.
Excellent application of open innovation. One of the biggest reasons for taking on extensive R&D for pharma companies is the promise of patent protected profits. As the industry moves towards open innovation, what role is the pharma industry expected to play? Additionally, if pharma companies know that open-innovation platforms can probably come up with cures faster (due to its access to hundreds of researchers), then what incentives does it have to even start some of the R&D projects?
One of the biggest problem AM is facing right now is the speed of printing. I think your suggestion that auto companies focus on AD only for low volume parts makes a lot sense. Low volume parts still require a huge upfront investment. However, due to the volume of the parts, the company has to charge higher price per part in order to recover its upfront investment cost. it will be interesting to hear if/how Toyota is using AD for prototyping new models? Has this allowed the company to prototype at a faster rate/has led to more innovation?
Very interesting article. Currently the users on dating apps face paradox of choice problem. In the future, AL and ML have the potential to create a highly customized list of matches for these users. I believe that in the competitive world of online dating, the companies that can crack this code first will setup themselves up for long-term success. Users are swiping for their preferences on these apps for hours every month and this existing data can be leveraged to create future matches that these users are much more likely to find suitable.
Very interesting article. I think this application has the potential to truly change lives in third-world countries. If the cost of printing an additional house can be lowered down, then governments can invest in 3-D printers and lease them to companies hoping to solves the housing crisis in under-developed countries. However, a lot of this hinges on 1) the ability of printers to print larger parts quickly and cost effectively and 20 the actual cost of 3-d printers going down over time.
Very interesting article. Brick and motar stores are certainly struggling with the problem of correctly identifying their customer base and then marketing specifically to them, something that online retailers can do relatively easily. However, I believe this is fairly difficult thing to do in practice and a lot hinges on how accurately their algorithm can identify these customers. Another interesting aspect of this ML software you mentioned is the ability to measure to the efficacy of a marketing campaign. This coupled with customer-level data visibility can certainly help brick and motar stores with a lot of problems they are facing in this environment.