Many companies are engaged in “Digital Transformation”.
I’ve put together a list of technology based businesses that challenge the status quo.
- Dynamic inventory management
A supplier of frozen foods uses Internet of things to monitor freezer temperature and product weight. A response mechanism takes care of low temperature and near stock out conditions.
- Liquid Money
A Liquid Money account enables me to transfer money to an account hosted by a third party bank. As well the account uses an interest rate auction to park my money with the maximal return and minimum risk.
There is no “Bank” per se in this model but rather an federation of financial institutions, My LiquidMoney account is virtual in that it is the same account identification across all participating banking institutions. A banking machine card accepts deposits and gives out cash. The system protects me from money laundering and fraud.
The concept stems from an old mesh network idea of mine. Imagine where if you are walking down a retail street or though a mall, each vendor you walk by texts you a time limited coupon to your phone. If the offer is agreeable, you show up at the retail outlet within the time limit, buy the product on offer and receive the discount. Since the device is registered on he discount network, the retailer gains a better understanding of their customers.
- HomeAbode person sensor.
This device uses AI and speech recognition to monitor a home to determine if the person(s) inside are well. If the person needs help, they cry out a phrase or bang on the floor. Response personnel would be paged to investigate. The system would as well maintain a list of medications, care givers and doctor.
A restaurant points loyalty card that helps major customers to get free food and delivery.
For example, drink six Mill Street Lagers over say a six month period and mill street will comp the restaurant for the business and the diner with a free beer. Works for take out and delivered orders. The RestoPoints buying group negotiates discounts at restaurants. The model could be extended to the case where I am loyal to Mill Street and receive points every time I buy a Mill Street in a restaurant or the Beer Store.