9. “We will move from mobile first to AI first”
Sundar Pichai, CEO Google, 2016
10.
11.
12. Data is not the new oil
Its value is not based on scarcity, but abundance
13. Data doesn’t run out
The economic model for a commodity that doesn’t run out is more like solar power than oil.
Data increases in value the more it is connected
The economic model for a commodity that creates value the more it is connected is the web. It is
more accurate to say that the ‘web of data’ is the new ‘web of documents’
You can make a copy of the data for (effectively) zero cost
(it’s harder to copy the connections)
And of course, data doesn’t cause catastrophic climate change in the same way that oil does.
Although, we may soon need data sequestration for all our binary dust.
25. Regulation mandating banks to open up.
Why?
1. Innovation
2. Compliance
What?
Open data: ATM locations, Products
Shared data, open APIs: Personal data
Who will benefit?
1. Banks
2. Consumers
3. Open market