There are trends that affect individual business models and large movements that have an impact on the entire business world and society. The platform economy clearly belongs to the latter. What is so special about it: No player – whether regional, national or international – can ignore it.
Today, the 60 largest platforms worldwide are already worth more than 7 trillion US Dollars – and the trend is rising. As such, they would take third place in the ranking of countries with the largest GDP: behind the United States and China, and ahead of Japan and Germany. The 6 most valuable companies worldwide are platform businesses. The platform movement is not entirely new, but it is picking up speed due to the growth of established companies on the one hand and start-ups on the other.
How will the platform economy develop in the coming years? To what extent will it shape the economy, politics and society in the future? We want to discuss these questions at our upcoming conference – “Platformation” is the title of the 23rd World
Business Dialogue in March 2020!
We will discuss various aspects of the Platformation of the economy: the impact on business models is a challenge that all companies have to face. This also includes non-platforms. Whether one cooperates with platforms, acquires them or builds them oneself – one cannot ignore them due to their increasing influence. So to what extent will platforms change the rules of business?
Not only external, but also intra-corporate open innovation platforms are becoming more and more paramount, especially in the accumulation and acceleration of idea generation.
If you take a look at the global distribution of the platform economy, the United States have by far the largest share (almost two thirds). China, led by Alibaba and Tencent, still accounts for about 30%. In comparison Europe’s 3% do not really seem systemically relevant.
“Intracorporate open Innovation platforms“
However, much is currently happening mainly in the B2C sector, thus in the interaction between businesses and customers. In light of this it will be interesting to examine how power will be distributed in the B2B sector – in the direct interaction between companies. Can Europe catch up or even become a pioneer here?
The crucial question that resonates here is the role of politics and the regulation of platforms. Should we regulate platforms, and if so, can we do that at all? The EU’s billion dollar fine against Google and the call by Facebook’s co-founder Chris Hughes to break up the social network have further fuelled this debate.
Ultimately, the issue of Platformation must also become part of a social discussion. How and under what circumstances do we want to work? What impact will platforms have on human bonds at work and beyond? How do we handle information generated by platforms in a responsible, reflected way?
These are vital questions for all of us, namely how we as entrepreneurs, employees and members of society want to deal with the increasing influence of platform economies now and in the future. We consider it essential to conduct a joint discussion on these questions, which cannot simply be answered nationally. Between generations, between cultures. Between politicians, corporate leaders, founders and those who will shape companies and platform economies in the future.
“To deal with the increasing influence“
We are looking forward to an exciting Dialogue!