This is a very intriguing proposal, thanks for sharing! Although I’ve never been to a Secret Cinema event before, I have heard a lot of buzz around it, and am a big fan of this type of entertainment. One competitor in this space that I’m aware of is an immersive/interactive theater experience called Sleep No More by a British theater company called Punchdrunk. I attended it earlier this year in New York and loved it. I’m not exactly sure how or whether they use crowdsourcing as a way to engage audiences, but I agree that its a great way to solicit feedback on what direction to move in, in terms of new productions and geographic locations. As to your second question around crowdsourcing original content, my personal view is that this would be quite difficult to do. While crowdsourcing definitely helps to guide an idea or a vision, i think the end product is best created through one person or a group of people directly collaborating with one another.
Very interesting piece J Harvard! You pose an interesting question. Caterpillar is clearly a large company with an extensive fleet of equipment and machinery. As you mentioned, there is a lot of potential value add that Caterpillar can offer its customers through IoT and machine learning innovation. In order to differentiate itself, I think Caterpillar should develop its own in-house R&D and analytics expertise through by acquiring a company like Uptake.
Very interesting piece Christine, thanks for sharing! I am not that familiar with this space, but very curious as to how this crowd-sourcing approach is viewed in the government and cyber security communities, and how other governments around the world address their cyber-security issues. As a layman, while this seems like a good approach to plugging potential vulnerabilities, I wonder if it still leaves systems open to attack through paths that have not yet been discovered. Do you think this is the best strategy available to the government at this point in time? I definitely agree that strategically important infrastructure such as power plants should be taking the appropriate cyber security steps. I wonder if this is something that could be federally mandated in the interest of national security, or whether it has to be more of a local push.
Very interesting piece LG, thanks for your insights. What Sephora is doing with AI is a great way to remain competitive in today’s crowded cosmetics industry. It seems like maintaining an effective omni-channel infrastructure is critical to staying relevant, and this type of innovative AI is a great way to engage millennials. Incorporating tools such as Visual Artist and Tap & Try into its stores appears to be an effective way of keep Sephora’s brick & mortar fresh and relevant. I think that there will continue to be a need for physical stores, in part because trialability is very important for consumers with respect to cosmetics products, but also because stores are an important element of the omni-channel strategy. A number of retailers have experienced a decline in online sales in the nearby area when they have closed brick and mortar stores. This is largely because customers value the interaction between e-commerce and physical stores (i.e. ability to pick-up in store, exchange in store and try in store before buying online). As a result I believe stores will continue to be an important distribution channel for Sephora.
Georges, this is a fascinating piece, thanks for sharing. I hadn’t realized that 3D bio-printing was already on the horizon, particularly given that additive manufacturing is still relatively nascent in non-bio industries. You raise some intriguing questions. It seems like 3D bio-printing is an extremely technical field which requires significant medical, engineering and computer science expertise. I believe experts from all these areas are needed to make progress and conduct modeling. Ultimately I think doctors should partner with academia in order to have the necessary know how and resources to turn 3D bio-printing into a reality. I also think that EnvisionTec should start with expertise in one sector rather than stretch themselves too thin with multiple areas, particularly given the capital constraints that the company is facing.
Thanks for this insightful piece Adebodun, you raise a very interesting point with respect to who is actually responsible for developing the necessary skills for 3D printing to succeed – industry or education. In my opinion, I think the initial impetus is inevitably going to come from industry. In this case, I believe the construction industry will need to invest the time and capital into additive manufacturing R&D before education organizations invest material resources into developing the necessary skilled labor force. Until the industry comprehensively proves out the concept of additive manufacturing and validates its role as an important part of the industry, I don’t think it will be meaningfully incorporated into education. That said, in order for 3D printing to succeed in construction or any other industry, I think there must be a highly collaborative effort between industry and education. Only then will we be able to even consider 3D printing the next mega city!