Technology, Innovation, Education
Advances in technology and innovation are the driving forces behind the growth and sustainability of prosperity in our increasingly knowledge-based society. In this context, the ongoing digitisation of the economy and the related change in economic and societal processes are particularly important. The Sectors, Technology, Resources Team analyses these structural relationships.
Fintech
Fintech – The digital (r)evolution in the financial sector: Algorithm-based banking with the human touch
In sections of the financial industry there are many web- and data-based financial products and services that customers cannot obtain from either their bank or a similar provider. Non-bank, primarily technology-driven providers are increasingly entering the markets for less knowledge-intensive and easily standardisable financial services. Despite valuable comparative advantages that traditional banks have to offer they need to undergo a radical course of innovation therapy during the digital transformation process. To this end modern data analysis methods should be used just as routinely as a seamlessly integrated web of all distribution channels. Modern technologies and appropriate finance-specific internet services need to be implemented efficiently and above all in a timely manner. Strengthening one's own brand and identity as well as the obligation to handle client data confidentially will also help to deliver a sustained increase in customer satisfaction and loyalty. [more]
Crowdfunding /-investing
Crowdfunding: Does crowd euphoria impair risk consciousness?
From the standpoint of potential company founders, an inadequate supply of funding is a key issue especially in a start-up's early phases. Therefore, we welcome the efforts of the crowdfunding movement from an economic perspective, particularly with regard to growth. However, there is an urgent need for action aimed at eliminating the existing information asymmetries and conflicts of interest between company founders, funding platforms and investors. [more]
Big data
Big data - the untamed force
Big data is increasingly becoming a factor in production, market competitiveness and, therefore, growth. Cutting-edge analysis technologies are making inroads into all areas of people’s lives and changing their day-to-day existence. Sensors, biometric identification and the general trends towards a convergence of information and communications technologies are driving the big data movement. Data has a commercial value – therefore the risks should not be underestimated. It is now a question of putting in place the necessary regulatory framework to allow these state-of-the-art methods and the technology that underpins them to properly flourish. [more]
Data sovereignty
Data sovereignty out of balance
I use the internet every day, at work and at home. Routine actions, performed using the latest web-based technology, make my life much easier. Every click on an online portal, every voice command to a mobile device and each use of GPS saves me valuable time and search costs. Many internet services increase my efficiency, my productivity and my level of comfort on a daily basis. And my consumption continues unabated, at least for the time being. But these internet services are not really free, in fact they come at a considerable price. Although it does not cost me any money to access them, I am still paying, by more or less voluntarily providing my personal digital data. [more]
IT Summit
National IT Summit: Ensure progress away from the limelight as well!
The German government has invited interested parties to a National IT Summit. High-ranking figures from the political, business and academic arenas will meet to tackle the following assignment: “Working and living with digital change – together.innovative.self-determined”. At the summit specific tasks are to be designated in order to boost Germany's capabilities in the area of information and communication technologies. The issues of broadband expansion and Industry 4.0 are pivotal to this assignment. Bold ideas and commitment are urgently required, but not intervention in competition taken for the sake of appearances. The objective is that decisive progress is made with digitalisation in Germany away from the summit limelight as well. [more]
Media
Media: New offers and suppliers change business from scratch
For a long time, technological progress in the world of media has surpassed the improved image display via screen diagonal or contrast by far. This is not only shown by the gadgets which the TV viewer may use for his or her personal analysis of the games of the FIFA Football World Cup. This opens completely new opportunities and business models for the large field of visual media. More and more, media use is currently understood as a location-, time- and device-independent option with the possibility of personalisation and interaction. Thus, television viewers, who were previously condemned to passivity, now have the option to compose their own programmes and watch at times convenient to them. [more]
Digitization
Come on you (digital) inventors and entrepreneurs!
The opportunities provided by digital structural change are being talked up heavily, and the shape they will take over the long term can only be guessed at. Today, everyone can participate interactively in digital spaces as long as they have access to the internet. Flexible and varied relationships are formed between people and their diverse identities in the online and offline worlds. Experimental forms of participation and collaboration will become more important in the medium term, which will continually influence the value creation process in many firms. Digitalisation is thus changing our social and economic lives as well as the way that we interact with one another and how we (have to learn to) handle (personal) data in future. [more]
Spotlight on Germany
 
 
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