This is a great application of open innovation in a much broader context than I had previously considered. I think your question about OpenIDEO’s responsibility to ensure that sponsor’s implement winning solutions is a great one. If OpenIDEO recognizes the value of its platform is driven by the participants, it needs to ensure that there is a closing of the loop and publishing / shareout of the ultimate implementation of an idea. This will drive engagement and could offset some of the perceived need for a cash reward as another form of “compensation.”
This is really interesting and something I did not previously know much about. Your question as to how Made In Space might transition to a more commercially viable company is especially interesting. I’d like to know more about the current limitations on producing in space and what innovations might be possible in the future. What changes would be necessary to the current product and process to make this more attractive to a commercial partner looking to produce satellites? What impact would different regulatory restrictions (if any) have on the process and current product if this does go down a more commercial path? Really interesting topic to contemplate?
I agree with Brett that GE needs to develop applications of AM beyond the aviation practice to take advantage of cost-reducing manufacturing efficiencies across other business units that would similarly benefit. The question you raise around how GE might leverage in-house adoption of AM technology to convince external partners of its merits is critical. This should be GE’s primary focus at this stage – to create targeted testing grounds across their portfolio. GE cannot go broad at the outset with this technology or they risk overspending and under-delivering results (and potentially unnecessarily upending production cycles). They need to focus on the two or three related areas in which cost-reductions will have the greatest impact and implementation will require the least amount of tweaking from what has already been gleaned from the aviation space. If they can successfully expand t a these additional spaces, they could have a convincing case to make to external partners – one that does not hinge on a single industry alone.
Great analysis on a really interesting topic! I think your question about how this application of technology potentially changes the culture of a city is paramount – especially as we consider its application in restructuring an existing city versus applying it to a newly planned community. As redevelopers and city governments grapple with making once vibrant cities work again, this technology could present a significant opportunity to optimize infrastructure and community safety projects. Beyond that, there are major implications to physical and spacial design – literally how cities will look and function in the future. This application could help to combat some of the impact of gentrification and redevelopment that has pushed entire groups of citizens to the margins of some urban areas and disrupted long-established networks in some cities. Historically, these groups are left to carve out new areas most commonly cut off from public transportation, etc. If smart cites can start to predict movement patterns and account for changes in socioeconomics within different city neighborhoods, local community governments might actually be able to plan ahead for migration shifts that have historically left entire citizen populations forced to uproot their lives in search of more affordable housing, access to work, etc.
This is a really interesting analysis of the application of new technology in a long-established industry. As you noted, Sephora is definitely prioritizing personalization and leveraging data to do it. I am most interested in exploring the point you briefly raised around beauty being a fast replenishment category and the challenge for brands to “predict what consumers want before they buy it from a competitor.” How is Sephora using their data analytics capabilities to anticipate the consumer replenishment need and interrupt the potential convenience purchase that meets an unexpected need? Namely,
how might they extend personalization beyond predicting products or services that might be of interest to a customer, and start to use the same data to construct a unique purchasing journey / timeline to ensure an uninterrupted interaction loop that doesn’t leave room for the competition? Amazon and some specialty athletic retailers have started to leverage this data to send prompts to consumers to replenish household goods or replace a worn out pair of running shoes based on number of miles logged on a fitness ap. Can Sephora take a similar approach? While 80% of surveyed Beauty Insiders profess complete loyalty to the brand, does that number directly correlate to sales? Or might there be room to better align purchasing intent with purchasing opportunity? They seem to be zeroing in on this application and I think it will have significant benefits if they can create a complete ecosystem for the customer.