Case Studies Presage Imminent Adoption of Social Technologies—Emerging Markets Prize In Balance
 A who’s who of global marketing executives convened on the Hilton Chicago October 11-12, 2007 for two days of cramming on social networks, emerging technology and transformation. It certainly felt like an inflection point: analysts’ insights and technology pioneers’ zeal were tempered by corporate stories in the trenches. Based on my experience with previous adoption curves, I predict a significant jump in Web 2.0 adoption by corporations next year.
Depending on your industry, the next six months will be your last chance to be early to market. As success stories become more widespread and executives realize that Web 2.0 has very low barriers to adoption due to the social Zeitgeist and a relatively low price point, the use of social technologies will rapidly become mainstream. The main barrier to adoption is cultural resistance and organizational inertia.
Although this was not a technology conference, in my conclusions, I will provide some insights about why and how Web 2.0 represents a fundamentally new technology value proposition that makes it […]
Over-Publicized Problems and Unusual Opportunities—A Way to Monetize Collaboration?
 Financial Markets World held its conference, Web 2.0/Enterprise 2.0 in the Capital Markets Industry, in New York City on 17 September 2007. Invited as a panelist on the bleeding edge track, “Web 3.0: Where Are We Going,” I nonetheless had time to scribble some notes to cover some of the sessions.
Enterprise 2.0 is being adopted by investment banks and the capital markets industry, but adoption is being dampened by two flies in the ointment: 1) the industry is highly regulated, and compliance forces firms to have control of their data, which means CIOs are hesitant to try new technology that may introduce risk; 2) enterprise 2.0 doesn’t yet have a locked and loaded business case. It’s early, and all conference sessions reflected that.
The Global Human Capital Journal’s coverage comprises summaries of all the sessions, as well as more in-depth coverage of three of the sessions. To access all the articles in one click, use the Financial Markets World tag. This article contains the summaries as well as my analysis and […]
Adoption Weakened by Compliance Risk and “So Obvious It’s Invisible” Value Proposition
 The Global Human Capital Journal’s coverage of Financial Markets World’s Web 2.0 in the Capital Markets Industry conference continues. In this session, Dion Hinchcliffe, a leading writer and consultant in Web 2.0 and Enterprise 2.0, described how capital markets firms were adopting Enterprise 2.0. After some general points on enterprise 2.0 adoption, he referenced early work of Dresdner Kleinwort, AOL, T. Rowe Price, Wells Fargo and JP Morgan. As usual, I’ll summarize his remarks before sharing my analysis and conclusions.
Dion has collaborated repeatedly with O’Reilly, the folks who officially coined the term “Web 2.0” and hold one of its most well attended conferences. He began his presentation with the definition of Web 2.0: (using) “networked applications that explicitly leverage network effects.” In my view, that means purposely leveraging P2P (peer to peer) technology. They scale exceptionally quickly because they are easy to use, people who like to use them do so on their own time and […]
Growing Collaboration Culture Will Force Compliance Breakthroughs—Moving to London
The Global Human Capital Journal’s coverage of Financial Markets World’s Web 2.0 in the Capital Markets Industry conference continues. In this session, Eran Barak, Global Head of Strategy for Reuters, moderated a discussion with panelists David P. Olener, Director Legal Discovery Solutions at Orchestria, and Warren Roy, President & CEO of Global Relay Communications. They are well qualified to discuss this topic: As a former litigator, Olener has extensive experience with complex discovery and has consulted to numerous Fortune 100 clients in compliance, security and risk management. Roy’s company is a hosted compliance archiving and messaging suite used by over 1,200 financial and legal firms for regulatory purposes.
Their consensus was that enterprise 2.0, notably IM (instant messaging, chat) introduces significant issues with highly regulated financial services firms. Although this is widely known, many of the details of how the technologies can pose problems were illuminating. We will provide a summary of the panel before adding our insights.
Enterprise 2.0 Technologies and Regulatory Issues […]
A Glimpse Inside the Emerging Divide between Wall Street Professionals—How Many Goldman Employees Are on Facebook?
The Global Human Capital Journal’s coverage of Financial Markets World’s Web 2.0 in the Capital Markets Industry conference continues. In this session, Tom Steinthal of the BSG Alliance wrapped the conference by crystallizing several Web 2.0 concepts with passion and panache. Tom is Managing Director of BSG Alliance’s Financial Services practice. Previously he has managed equities technology teams at Goldman Sachs, Donaldson, Lufkin & Jenrette, Credit Suisse, JPMorgan Chase and Prudential. Further back, he led Nasdaq technology teams and designed and implemented Nasdaq trade order management and market making systems. He has been a member of various Nasdaq and NASD technology committees and has been Series 7, 3 and 55 licensed.
Wall Street firms will increasingly get caught up in several threads of culture change, but he emphasized two: the generational divide and, related to it, collaboration vs. control. In this context, “building an enterprise 2.0 system ’employees’ will use” must take into account very different styles of […]
Just Released—CSRA Market Advisory Highlights How I-Banks are Using Web 2.0 to Drive Competitiveness
![Enterprise 2.0 A Game-Changer for Investment Banks [Market Advisory]](http://rollyson.net/wp-content/uploads/2007/09/Mkt_Advisory.gif) This summer, “Enterprise 2.0” began to get legs as the new moniker for applying Web 2.0 to the enterprise, reflecting that pragmatists are raising their eyes for an exploratory glance. The market advisory shares how global investment banks are using Enterprise 2.0, and it suggests action steps for executives to take this year and next. Here is the executive summary and a few choice concluding points:
Enterprise 2.0 Enables Executives to Digitize and Monetize Collaboration for the First Time
This is so simple that many will miss it and open themselves to disruptive competition…
Banks increasingly use wikis, blogs and other Web 2.0 tools for mission-critical processes, as shown through the examples of Citi, DrKW, Morgan Stanley, ING and JP Morgan.. Enterprise 2.0 is a new term that denotes corporate adoption of Web 2.0 and social software tools. It offers investment banks an unusual opportunity to reduce risk and improve their earnings and profits by increasing returns on process, human and knowledge capital. However, Enterprise 2.0 also confronts […]
Converged Experience Presages Telecoms Transformation—Reexamining the Value Proposition
 CTOs Chris Rice (AT&T), Pieter Poll (Qwest), Mark Wegleitner (Verizon) and Matt Bross (BT) agreed that the discrete services that telecoms now offer would morph into a seamless, hyperavailable cloud of communications services. The converged experience will be seamless, feature-rich and accessible when, how and where consumers want. Telecoms’ ability to deliver will drive their stock prices in the near term and was the focus of the discussion.
From an operational perspective, telecoms have been too focused on product/service P&L. Now they have to eliminate barriers between products, so the customer can have a context-appropriate, seamless experience. The first phase of this transformation is bundling existing services; however, the real value will come from innovating new services. All applications will be unified around an IP (Internet Protocol) infrastructure. Telecoms don’t need to integrate networks; they need to build networks that interoperate.
Between the lines and longer term, telecoms must reexamine their value propositions because we are coming to the end of the era in which custom applications and proprietary interfaces were necessary to integrate networks’ “islands of automation.” Network-centric […]
The Rise of the Niche Will Transform the Mass Model—The UGM Threat Is the Opportunity
The advertising industry is at a crossroads. It came of age during the Industrial Economy, and explosive growth coincided with the development of the mass media and the focus on “brand” TV and print advertising. Big media and advertising reflect Industrial Economy values and sensibilities: produce big numbers efficiently and innovate when necessary. Amortize existing investments. The problem is, Knowledge Economy customers want to be communicated with as individuals. Since advertising’s processes have been built with big numbers in mind, they are expensive, and the numbers don’t work when agencies try to address niches.
Efficiency in advertising has given rise to a value chain that is as heavy with inflexible infrastructure as the airlines’ hub and spoke system. Advertisers remain focused on “reach,” the number of eyeballs that view their messages (and respond when it’s measurable). That’s how advertising effectiveness is measured. Advertisers are resistant to changing this system, and that makes emerging technologies like mobile video and social networks of secondary interest to them. Meanwhile, innovators are developing technology and offerings […]
Content Providers Hobbled by Conventional Thinking—UGC May Fill Content Vacuum in Plum Mobile Video Market
At Digital Hollywood Chicago, speakers held that video would grow significantly as a portion of content experienced on the three screens. However, no panelist gave a compelling reason that video would grow—and there are many problems that will dampen adoption in the short- to medium-term. I question whether they are just trying to drive demand to drive their businesses. Don’t forget that this conference is digital Hollywood.
Myopia is content owners’ biggest problem: they seek to repurpose existing content for the mobile screen to amortize past investments. This logic permeates their thinking and prevents innovation. Meanwhile, consumers are awakening to the excitement of consumer-produced content, the prices of software tools are falling, and skills are increasing. True, the production quality is usually amateurish, but UGC (user-generated content) is usually free, fresh and relevant—to niches, which is where the action is. Users produce content for fun, and they can afford to address topics that “professional” content cannot. Mass-produced vapid content will still have a place in the consumer entertainment universe, but it will […]
But Legacy Thinking Makes Agency Ecosystem Vulnerable to Disruptive Change—Who Will Be Their Southwest?
Technology is remaking the advertising business because it is beginning to enable individualized targeting via automated tools. It is not a moment too soon.
The ultimate context for this session is that technologies are driving interactivity, which is becoming the default for marketing communications. Legacy players in the marcom value chain have mixed feelings: they want to leverage their investments in legacy processes, people and relationships, and many of their clients are not pushing for interactive or its latest incarnation, digital video.
Thought leaders and visionaries are frustrated by their colleagues’ reticence because they perceive that marketers’ worst fear—irrelevance—will soon ensue unless they begin to make serious investments in digital video and Web 2.0, which highlights peer-to-peer interactivity.
When it burst into public view with the growing popularity of the Internet (“Web 1.0”), “interactivity” represented new capabilities and sensibilities. Viewers of marcom messages could react to the messages by clicking, and these clicks could be tracked very economically.
 However, this was merely a […]
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