September 17 – 5 Key Stories From The Digital World

By September 16, 2019 Insight

1. What 2019 Seed Funding Data Says About Our Collective Future

  • Fintech, in particular, is collecting an outsize share of seed dollars, an amalgamation of the rise of neobanks, crypto and AI. Other areas, including cannabis, agtech, real estate and security, are also big investment recipients
  • Much of the enthusiasm can also likely be attributed to “spray and pray.”…popular but publicly disavowed seed investment strategy of making lots of bets destined for failure in the hopes that a tiny number of successes will pay back huge multiples
  • Agriculture is also proving fertile ground for seed investment this year…Top funding recipients include OnePointOne, an automated indoor farming platform, BeeFlow, a self-described developer of “strong and intelligent bees” for pollination, and Augean Robotics, developer of a robotic platform for agricultural work

2. Smart Strategies Require Smarter KPIs

  • Digital processes, platforms, and predictive algorithms transform the strategic role and purpose of key performance indicators…becoming measurably smarter, more dynamic, and more adaptive
  • For data-driven disruptors like Alibaba, Amazon, Airbnb, and Uber, KPIs don’t simply monitor enterprise success; they proactively drive it
  • In big data and AI environments, however, understanding ex post facto churn no longer strategically suffices; organizations seek to predict churn to proactively prevent it

3.  Gartner 2019 Hype Cycle for Blockchain Business Shows Blockchain Will Have a Transformational Impact across Industries in Five to 10 Years

  • Even though they are still uncertain of the impact blockchain will have on their businesses, 60% of CIOs in the Gartner 2019 CIO Agenda Survey said that they expected some level of adoption of blockchain technologies in the next three years
  • In the fast-growing esport industry, blockchain natives are launching solutions that allow users to create their own tokens to support the design of competition as well as to enable trading of virtual goods
  • Once it has been combined with the Internet of Things (IoT) and artificial intelligence (AI), blockchain has the potential to change retail business models forever, impacting both data and monetary flows and avoiding centralization of market power

4. Product-User Fit Comes Before Product-Market Fit

  • Product-user fit is an important step in the journey to product-market fit, in which nailing the product to win over the right user is essential
  • The path from product-user fit to product-market fit is all about answering a few core questions: Who really wants this today? How many of those people are out in the wild? What else would it take in the product to turn non-users into users of our solution? What macro story must play out in the market to substantially shock market-wide demand?
  • To understand product-user fit is to understand why your power users are power users, their user behavior, and how to evolve the product to create more power users

5. Deutsche Bank Joins JPMorgan’s Crypto Payments Network

  • The addition brings the total number of banks signed up for the Interbank Information Network (IIN) to 320
  • IIN is built on Quorum, the ethereum-based blockchain network developed by the banking giant, and employs a stablecoin dubbed JPM Coin
  • IIN brings efficiencies by writing all the data on payments a shared ledger, thus allowing problematic payments to be resolved more quickly and with less manual processes