Imagine a world where you can mass produce customized products locally and then change the entire factory floor the next day to manufacture a completely different product. Imagine individuals who own personal 3D Printers leasing out the idle time on their devices (like Airbnb) to a service that sources jobs for them. Once the product is printed, the shipment company collects and delivers it to the end user.
I predict that the world we return to will significantly change when it comes to touch based interaction. Customers will not want to touch ATM machines and public devices but instead opt for contactless interaction. There have already been several developments in this area including contactless payments like Apple Pay, Samsung Pay and MasterCard PayPass; voice enabled solutions like Alexa, Siri and Ok Google and 3D visual mapping solutions like Microsoft Kinect and Leap Motion.
The coronavirus pandemic has opened many eyes and caused us to see flashbacks from presentations over the last decade. Proposals to change the way we operate like going digital, paperless, meeting virtually, and being present where our customers are have found themselves buried in the PowerPoint graveyard.
So, what is Business Model Innovation anyway? Think of a business models as a recipe to make your favorite dish. Let’s say you love Biryani. Your business model is all the ingredients you put together to create that wonderful dish.
The year 2020 and 2021 will be one of those times we will look back on and acknowledge how so many things changed in such a short period of time. The Covid-19 Pandemic by virtue of being a pandemic has been affecting each of us across the planet.