2018. What a year. “Trade wars” re-align electronics market share and prospects, GDPR changing the way we manage customer data, content platforms like Netflix transforming television, and 95% of Americans owned some kind of mobile phone.
So as CES approaches, don't think of it as just another year of new products. Not even a year of new connected products, This is the year that consumers and consumer electronics companies realize the value of the data they are generating every day. And the battle for ownership and leverage of this data is only beginning.
One major thing to think about: Privacy and security concerns are on the rise. Facebook CEO Mark Zuckerberg was brought before U.S. Congress last April. GDPR was implemented last May. The public is catching up to the realities of our world’s tech boom and attempting to regulate it. High growth data driven business models are under close inspection - is this the time for the incumbent consumer electronics industry to rise up and take control back?
And of course, will data be the dominant discussion at CES 2019? I think so.
For instance, think about voice enabled products, which two years ago at CES was the buzz. Well that conversation has dramatically shifted, in part to the constant data leaks or disturbing practices we hear about. One quintessential example: a device recorded a man’s conversation with his wife and then sent it to his employee, without instruction or permission. A voice controlled television listening continuously and transmitting private conversations over international boundaries. Security questions about abound.
Data is intrinsically valuable, and in my humble opinion, the industry is not thinking seriously enough about data usage and transparency. Consumer's will share the sensor data they are generating if the value proposition is fair, and the technical underpinnings are secure. Your business strategy needs to give these changes a much higher priority, to be prepared when consumers and governments start asking these tough questions.
I encourage electronics professionals attending CES to schedule a meeting with us. We would welcome the opportunity to chat with you about your business and data strategy in this evolving world of connected electronics!
