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Business: 20 Mind-Boggling Facts Every Business Leader Must Reflect On Now
Business as we know it is changing. But some business leaders aren’t convinced that it will affect them or their business.
But the truth is, business is changing at a fundamental level. Some of the key leadership challenges of today include the advent of big data, data becoming a major business asset, AI taking over, platform businesses challenge traditional suppliers, the sharing economy, 3 D printing, robots becoming more intelligent, and more.
These eye-opening facts show the importance of all the things I continue to write about here, capturing the key tech trends and business challenges every leader should reflect on…
More data has been created in the past two years than in the entire previous history of the human race.
By the year 2020, about 1.7 megabytes of new information will be created every second for every human being on the planet.
Still skeptical about the sharing economy? Airbnb is valued at around $25.5 billion, which is more than hotel giants Marriott ($20.90 billion), Starwood ($14 billion), and Wyndham ($10.01 billion). Hilton Worldwide is valued at $27.7 billion. What’s more, Airbnb don’t own a single hotel room.
72% of Americans have participated in the sharing economy according to a Pew research study.
But 73% of Americans are not familiar with the term “sharing economy,” and 89% are not familiar with the “gig economy.”
On a year-over-year basis, funding to AI startups jumped 302% in 2014, which include companies working in natural language processing, machine learning, deep learning and predictive APIs among other applications.
According to Wikipedia, Pinterest has 500 employees, while Kodak still employs more than 6,500. Pinterest is valued at $11 billion, while the most recent valuation of Kodak we could find put it at around $900 million.
Less than 0.5% of all data is ever analyzed and used, just imagine the potential here.
I hope that these facts make it very clear that things are changing, and changing fast. Every business leader needs to reflect on these trends and create strategies to thrive in this fundamentally new business context.