Hello, Sweet November! It’s amazing how time passes very quickly and before you know it 2015 ends with a bang. Here’s a curated weekly roundup of the breaking news and must-read thought leadership pieces on the crowd economy spotted by the Crowdsourcing Week team about smart cities, sharing economy, open innovation in travel and aerospace and many among others.
NASA’s open innovation and its future projects
The concept of open innovation is spawning to aerospace industry as a foray to NASA’s future projects and inventions. Here’s a thought-piece on the Forbes on how it works.
The portfolio shows an airplane that can fly in low-density atmospheres like Mars , something NASA has been working on with commercial firms such as Boeing BA +0.00%. This project serves as a great case study for how open innovation could work for NASA, as the organization has already included other space industry heavyweights in the R&D phases to shorten the development and certification for touring space. That means that hailing an Uber ride to the Red Planet may not be that far-fetched, though it will take some time.
Smart cities will change the world
According to a recent study, smart cities worldwide will grow 88%. We have too much data already and with the available platforms, sprouting apps and ideas to create sustainable living conditions, we hope for improved quality of life in the future. StateTechMagazine writes:
Smart-city technologies will reportedly be worth $27.5 billion by 2023, and the number of smart cities will climb to 88 by 2025, the New Jersey Institute of Technology (NJIT) predicts. As that number increases, the enormous amount of data that smart cities produce will be crunched and analyzed by data scientists to determine how the quality of life can be improved in each city. This will include everything from managing financial resources to fighting crime.
These three British travel companies explore open innovation
Take a peek at how British Airways, TUI Thomson, and Visit Britain use open innovation and collaboration, producing disruptive and remarkable results. E-consultancy writes:
Crowdsourcing has proven to be one of the most disruptive business models of the modern age. In travel, the most notable examples are TripAdvisor and Airbnb, whose business models are built on user-generated resources. The traditional travel sector has woken up to the value of crowdsourced marketing, too. It’s not only the popular (and cost-effective) thing to do: it’s just plain good marketing.
You think sharing economy is for millennials only? Baby boomers want a share, too!
Sharing economy isn’t just building the best “Uber of” platforms and apps to become a money-making machine, it’s also providing jobs to millennials and surprisingly to baby boomers as well in Canada, The Globe and Mail writes:
Aging boomers and the sharing economy go together like peanut butter and jelly (another trend boomers took mainstream). You can see that if you think about the boomers’ defining characteristic as a generation. It’s not that they are cutting-edge or cool – but that they are broke. According to 2013 research by the BMO Wealth Institute, Canadian baby boomers (who as of the 2011 census made up about 30 per cent of all Canadians, and all of whom will be over 65 by 2031) are on average more than $400,000 short of their individual retirement goals. To make up that shortfall, they will either have to work more or find ways to cut expenses. The sharing economy lends itself to both endeavours.
Meanwhile, in Helsinki, sharing economy is booming
TruthOut tells us why sharing economy is booming in Helsinki; it’s after all, “a sharer’s paradise.” It started in 2011 when the city itself embraced the concept, the relationship of mobile and technology, emphasis on education, healthcare, childcare and the support of the political economy. Here’s an excerpt on the thought-piece:
A couple of fundamental characteristics of Finland’s political economy also helped set the stage for sharing. First, a longstanding commitment to political democracy makes it easier for individuals or small groups to launch their own initiatives. And like its Nordic neighbors, Finland is a welfare state. “We have a strong tradition of social security and state involvement,” said Santala. “So we have inbuilt in our politics the idea that if someone has more, we should share it, and the state will distribute [resources] equally.”
There are tons of fantastic stories out there. What else caught your eye this week? Did you come across some breaking news or a good thought piece?