‘Fourth Industrial Revolution’ will unlock the next wave of worldwide economic growth says MyWave’s founder
Announcement posted by MyWave 29 Apr 2016
London, 29 April 2016. In her opening keynote address at the Intelligent Assistants Conference 2016 in London, MyWave founder and CEO Geraldine McBride unpacked the key drivers of a ‘fourth Industrial Revolution’ which, she said, would both transform and disrupt almost every global industry.
McBride detailed current economic realities. She said the average life expectancy of a Fortune 500 company had declined from around 75 years half a century ago to less than 15 years today.
“The return on assets of US public companies has declined to one quarter of its level in 1965,” she said. “Without massive change, global economic growth will also halve in the next 50 years.”
However, she pointed out, massive change is already underway. Digital flows – practically non-existent just 15 years ago – now exert a larger impact on GDP growth than traditional trade in goods.
She highlighted research findings by Professor Peter Weill of MIT which indicated that companies that had 50 percent or more of their revenues from digital ecosystems and understood their end customers better than their average competitor have 32 percent higher revenue growth and 27 percent higher profit margins than their industry averages.
“Intelligent assistants will increasingly become the face of a massive change in the way companies transition to digital ecosystems,” McBride said.
Using MyWave as an example, she showed how an intelligent assistant, enabled by a highly-scalable and secure personal cloud platform, can put the customer at the centre and in control, owning their own data and only sharing that data with brands they choose.
Using examples in banking, real estate, utilities, travel, retail and health, McBride demonstrated how, with secure and highly automated authentication, a customer can find and switch to the best power price, find a home, get a mortgage, buy a car, become healthier – all with simple voice commands or minimal keystrokes controlled by Frank, MyWave’s intelligent assistant.
Key takeouts from her presentation were:
> The fourth Industrial Revolution – where digital meets human/biological and the Internet of Things – is now underway.
> The fourth Industrial Revolution will unlock the next wave of economic value/economic growth.
> The entire relationship between customer and enterprise is turning on its head, with the customer empowered and at the centre.
> Because of the vast quantities of data involved, intelligent assistants and A.I. will be the enablers of this revolution.
> Highly sophisticated authentication is key – and must combine high security for the enterprise and the user while at the same time being fast and highly-automated for the user.
> MyWave is here now with a personal cloud platform driving Frank, the intelligent assistant, combining to support new digital ecosystems with end-to-end outcomes for the user with frictionless authentication, while safeguarding personal data privacy.
Read the full presentation here <https://mywave.me/news-and-blog/fourth-industrial-revolution-will-unlock-the-next-wave-of-worldwide-economic-growth-says-mywave-founder>
Released by Sayle Noble & Associates on behalf of MyWave.