RBC's 150 Year Anniversary | Sales Leaders National Conference
AI platforms are causing a radical reordering of traditional industry boundaries. Everywhere you look today, platform businesses are in the news.
Most of the stories focus on what platforms do. Some highlight the value they provide. Relatively few look beneath the surface to try to understand the business models that drive platform businesses.
They tend to ignore the most basic question of all: where’s the money? The answer is - data.
Platforms are rich aggregation points of data. Capturing data is key to growing a business in the information age not only by helping serve customers better, but also to find new ways to MONETIZE your business and tap into NEW industries. That's when the boundaries of your business start to dissolve.
Also, the companies that dominate our economy are not merely in the business of building products and services anymore, they are in the business of enabling interactions. And DATA is the key ENABLER of these interactions, that create the network effect and result in exponential ROI.