The next digital transformation: from an individual-centered to an everyone-to-everyone economy

Abstract

Purpose – Based on extensive interviews and analysis, the article aims to explain how the next digital transformation, which is already underway, will result in a paradigm shift from one that is customer-centricity to an everyone-to-everyone (E2E) economy. Design/methodology/approach – For the 2013 IBM Digital Reinvention Study that this article is based on, IBM researchers surveyed approximately 1,100 business and government executives and 5,000 consumers across 15 countries. Thirty leading futurists were also interviewed. Of those interviewed for the executive study, 42 percent are C-level executives, with Chief Executive Officers comprising 10 percent of that group. More than three-fourths of the consumer study participants are university graduates, with 68 percent between the ages of 25 and 54. Findings – E2E is characterized by hyper-connectedness and collaboration of consumers and organizations across the gamut of value chain activities: co-design, co-creation, co-production, co-marketing, co-distribution and co-funding. Prospering in an E2E setting demands disruptive innovation that challenges established norms and blurs organizational boundaries. Practical implications – In the future, organizations will operate in ecosystems of converging products, services and industries. Originality/value – The four key dimensions of the new E2E business models are: connectivity, interactivity, awareness and intelligence.