Industry Insights

MIT’s IDE: “Everywhere There Can Be a Platform, There Will Be a Platform”

By Ideas @ AppDirect / Nov 21, 2018

Since 2013, the MIT Initiative on the Digital Economy (IDE) has been at the forefront of research into how companies are adapting to new ways of doing business in the digital era. 

Given this, it's no surprise that platforms have become a main focus for the IDE. They are the engines of the digital economy, connecting companies and customers to drive innovation  at breakneck speed.

Recently, the IDE released a new strategy report that explores insights from its 2018 Platform Strategy Summit. The biggest takeaway? Platforms are taking over. "Platform-centered markets are booming and business-to-business and business-to-consumer platforms, such as Amazon and Facebook, have become household names," the report says. "Meanwhile, incumbent companies are racing to catch the wave."

"Platform-centered markets are booming and B2B and B2C platforms... have become household names."

The report features experts from across a variety of industries, from software and manufacturing, to entertainment and healthcare. They discuss current platform trends, such as analytics and APIs, as well as forward-looking topics like AI and blockchain. The report also includes perspectives from born-in-the-cloud companies like Airbnb, and old-line organizations such as Kaiser Permanente and Rolls Royce, proving that platforms aren't just for startups. 

One of the most important themes in the report is the need to ensure a completely digital platform experience, particularly for developers. To be successful, developers need to be able to "get up and running on a platform, a completely digitized experience, in seconds and minutes," as Mike Morris, CEO of Topcoder, explains. "On the majority of company sites, it still takes hours and days—far from a digitized experience."

For more insights, you can click here to read the full MIT IDE 2018 Platform Strategy Summit report.

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