Innovfest unbound: The anchor event of Smart Nation Innovations; a week-long series of events that showcase Asia’s most innovative developments. It is a platform for entrepreneurs, brands, corporates, investors and tech start-ups from all around the world to meet and share ideas, build partnerships and celebrate digital disruption.
Our intern had the opportunity to gain first-class insights into innovfest unbound, and here she lists 5 things that you absolutely have to know if you missed the highlight event:
Number 1: Tencent may take over the world (literally)
We all know what WeChat is but fewer of us know that WeChat’s parent company is actually Tencent. WeChat is but Tencent’s latest success. Steven Chang, the CVP of Tencent introduced the concept of building an ecosystem that targets at what a consumer does daily in order to meet their needs. This requires intensive studying of the consumer. This is also how WeChat, which started off as just a social media platform, is now an app that people cannot live without in China. Steven also revealed the next big thing for Tencent is ABC. A for AI, B for Big Data and C for Cloud. They have already started their initiatives such as the building of smart cities, revamping retail to be smarter and AI in the medical field. Learn the fundamentals of Artificial Intelligence right here and now!
Number 2: It’s all about the Consumer, the Customers, and the Market
The common theme that keeps coming up in the talks by successful businesses is their focal point on their consumers or customers. LINE music talked about understanding of the Japanese consumers to discover what they like and implement that function. Netflix talked about the importance of listening to the market in order to adapt to changes. Consumer power is rapidly growing in our digital era and they hold great importance to how businesses dictate their direction today. It is about crafting that experience for customers in order to grow and sustain the business.
Number 3: Optimization. Automation. Machine Learning. What now?
The venture capitalist judges of the Unilever Pitch Challenge pose a critical question for the pitcher and the floor. “Yes, you have optimized and automated this process. So what differentiates you from the rest of the pitchers who have said similar things?” In a few years’ time, I reckon that automation and optimisation are going to be the next must-haves for businesses and that they will no longer be unique selling points. So how do businesses differentiate themselves from their competitors and be different? This brings us to our next point:
Number 4: Brand Storytelling
Coca Cola, Intel and Circles.Life shared about the essential point of storytelling and that is what brands are built upon. Every brand has its own story and building it requires 3 ‘C’s: Context, Content, and Creativity. It is to showcase your point-of-view but more importantly, for consumers to interact and resonate with. This intangible aspect may be hard to quantify in a business. However, decisions are made with emotions, no matter how much logic we put into them. Hence, businesses need to create timely and creative content to deliver to their customers.
Number 5: Don’t be a Doctor, Be a Computer Scientist
The world has grown to become one that cannot function without technology. Lai Chang Wen, founder of Ninja Van joked about future careers for Asian parents to nag their children about; instead of being a doctor, be a computer scientist instead. This shows the equivalence in prestige and demand that a computer scientist has with a doctor, in the Asian context. Kickstart your journey to be a Computer Scientist with the versatile Python language.
Final Takeaway: We need to rise up as a generation that utilises technology to aid our daily lives and solve world problems. The importance of programming and coding is irrefutable. We must aim to be at the forefront of this technological era.