Crowdfunding and crowdsourcing presentation vistula

Industry 4.0:
latest trends in
Management
Crowdsourcing &
crowdfunding
Varsaw, May 2018
Raquel Urena
Raquel.urena@universidadeuropea.es
Dept of Business Administration

Industry 4.0: Crowdsourcing and crowdfunding
Raquel Ureña-Joyanes
Table of contents
• Journey through the lastest trends to the 4th
Industrial revolution
• Crowdsourcing
• Crowdfunding
2

From Industry 1.0 to Industry 4.0
3

From Industry 1.0 to Industry 4.0: the concept
• German National Academy of Science and
Engineering and the German Goberment
published in April 2013 the definition of
Industry 4.0
• "Responds to the so-called German dual
strategy that seeks to continue leading the
supply of equipment and solutions for
industrial production and its application in
industrial environments through the
integration of value chains and the
digitalization of the entire production
process"
4

From Industry 1.0 to Industry 4.0: Timeline
5

Priority actions in Industry 4.0
6

Priority actions in Industry 4.0
7
• Professional training
• Infraestructures
• Legal framework
• Investment

Industry 4.0 (IT + OT)
8

The pillars of industry 4.0
9

Gartner Top 10 Strategic Technology Trends 2018
10

Hannover Messe 2018
11

Collaborative robots (COBOTS) chatbots
12
• Automation and "advanced" robotics is a
fact, with artificially intelligent systems,
collaborative robots that guarantee the
automation of new tasks and the use of robots in
small and medium-sized companies. Robotic and
digital transformation converge on intelligent systems
that are flexible, with optimized integration,
improved programming and reduced implementation
costs

13
• "Bot", "chatbot" or "chatterbot"
• They are automatic computer programs that
simulate online conversations with people to
answer their questions or perform tasks.
• What is the future of chatbots?
• There are those who project that eventually each
person will have their own chatbot, a sort of artificial
butler. This will inform you of the weather, ask for a
taxi for you and coordinate your meetings, flights and
purchases.
• One of the best known is Siri, Apple, iPhone, Now
(google), Cortana (Microsoft)

14

15
• Why we should use Chatbot in hotels
• Bot for bookings
• Draw them with Discounts and Perks!
• Check-in, check-out on Your Little Device
• Q for Queries and Quick Response!
• Botting to Broadcast Notifications

16

Big Data & Analytics
17
SNOWBALL OF DATA
(Everything "rotates" around the data)
BIG DATA & ANALYTICS

Big Data & Analytics: a minute on internet
18

Big Data & Analytics: a minute on internet
19

Big Data & Analytics
20
• The answer to order this chaos is big data, the
new tool to systematize the data coming
from any support -including image sound,
photos, texts ... - and convert them
automatically into information.
• According to Eric Schmidt, CEO of Google:
"Between the origin of the land and
2003, five exabytes of information were
created. Today we create the same number
every two days. " The forecasts say that in this
decade we will create around 40 ZB.

Data Science
21
• Data science is the extraction of
useful information from large volumes
of data. Data science needs access to
data, data engineering and data
processing technologies.
• Data Science is a growing specialization
that touches many of the following
areas: Cloud computing, big data,
mathematics, statistics, optimization
methods, business theory and
computer science theory, Information
Systems, ...

Data Science
22
• KEY DISCIPLINES OF DATA
SCIENCE

Data Science
23
• Currently in fields such as economics and
finance (predictive models of stock
market, high frequency operations),
medicine (monitoring and prediction of
pandemics, studies of prevalence of
diseases under different variables),
transport companies (to optimize air
routes, terrestrial, maritime), food
companies (popularity tracking in social
networks, traceability of sales),
telecommunications (prevention of fraud,
increase in "performance" of customers),
retail (increase in sales by knowledge of
consumer habits) , etc.

Cibersecurity, privacy and the Data Protection, Blockchain
24
• Identify and know the concepts of
Cybersecurity in Industrial Control
Systems and Protection of Critical
Infrastructures, their definitions and
relationships.
• Discover and analyze the state of the art
of the Protection of Critical
Infrastructures at an international level.
• Detect and analyze the current situation
of the Security in the Industrial Sector
and the threats and vulnerabilities of the
Industrial Control Systems recognizing
their associated risk..

25
• Privacy and the Data Protection
• CHALLENGES AND DANGERS TO PRIVACY.
• The security and the loss of control of the
data are usually the most important
reluctance of the companies in the
decision making of migration to the cloud.
• Existence of data protection and privacy
laws in the country where the data is
stored that complies with the equivalent
regulations of the European Union or that
the corresponding international
agreements exist

26
• “The blockchain revolution” by
Don Tapscott
• Blockchain
• Cryptocurrencies (Ethereum platform)
• Bitcoin
• DApps (distributed applications)
• Smart contracts

27
• BLOCKCHAIN: The second digital
revolution: MIT Technology Review
• "What is it? What applications do
you have? How will the world
change? How will it affect our
lives?
• Blockchain technology facilitates
unalterable and decentralized data
logging in pseudoanonymous
networks"

28
• BLOCKCHAIN: The second digital
revolution: MIT Technology
Review
• What is it? A combination of data
logging technologies.
• How does it work? Distribute and
decentralize the files.
• What advantages does it have?
Security, Privacy, authentication
and speed.
• How will it apply? Any economic
sector can find advantages"

Crowdsourcing
29
Crowdsourcing
Crowdwisdom Crowdcreation Crowdvoting Crowdfunding
Crowddonating Crowdsupporting Crowdlending Crowdinvesting

Crowdsourcing
30
• Although the term is quite recent, the concept
has been used in modern day software at least
since the 1990s in many well known projects.
The name was first used in 2005 by Jeff Howe
and Mark Robinson in Wired magazine:
• "Simply defined, crowdsourcing represents
the act of a company or institution taking a
function once performed by employees and
outsourcing it to an undefined (and generally
large) network of people in the form of an
open call. This can take the form of peer-
production (when the job is performed
collaboratively), but is also often undertaken
by sole individuals. The crucial prerequisite is
the use of the open call format and the large
network of potential laborers."
• 2005 Jeff Howes and Mark Robinson in Wired
Magazine

Crowdsourcing: participants
31

Crowdsourcing: main features
32
• Web platforms
• Free registration
• Open call
• Rewarded or win-win situation
(social recognition).

Crowdsourcing: advantages
33
• Significant cost saving
• No or very Little overhead
• Free marketing
• Customer loyalty
• Keep talent
• Hiring potential

Crowdsourcing: disadvantages
34
• Questionable ownership
• Paying more does not improve
quality
• Deadweight members
• Wasted time
• Occasionaly bad reputation
• Confidentiality compromised

Crowdsourcing: examples
35
• There have been many projects that use
crowdsourcing (As defined) for quite some
time. Some examples of this would be the
Linux Kernel and the well known Linux
distribution Debian. Linux kernel pre-dates
this definition for more than a decade when
Linus Torvalds posted his now famous text in
usenet(2):
“I'm doing a (free) operating system (just a hobby, won't be
big and professional like gnu) for 386(486) AT clones. This
has been brewing since April, and is starting to get ready.
I'd
like any feedback on things people like/dislike in minix, as
my OS resembles it somewhat (same physical layout of the
file-system (due to practical reasons) among other things).
I've currently ported bash(1.08) and gcc(1.40), and things
seem to work. This implies that I'll get something practical
within a few months [...] Yes - it's free of any minix code,
and it
has a multi-threaded fs. It is NOT portable (uses 386 task
switching etc), and it probably never will support anything
other than AT-harddisks, as that's all I have :-(.
[...] It's mostly in C, but most people wouldn't call what I
write C. It uses every conceivable feature of the 386 I
could find, as it was also a project to teach me about the
386. As
already mentioned, it uses a MMU, for both paging (not to
disk yet) and segmentation. It's the segmentation that makes
it REALLY 386 dependent (every task has a 64Mb segment
for code & data - max 64 tasks in 4Gb. Anybody who needs
more than 64Mb/task - tough cookies). [...] Some of my "C"-
files (specifically mm.c) are almost as much assembler as
C.”

36
• In fact, some examples of these activities
are quite ancient, one example would be
the call from British government in 1714
for help in finding a method to determine a
ship's longitude. However, the internet
makes crowdsourcing much easier, as it can
connect the part that needs help to find
people that want to contribute to the
project (To outsource work to the crowd).
• £ 20.000

37
• The crowd here would be used to describe a
group of people willing to collaborate with a
collective effort voluntarily. In the case of
the Linux Kernel that would describe coders
willing to help developing the Kernel.
However, the crowd can help in many
different ways.
• An example of this would be the
SETI@home project, where millions of
people volunteer part of the processing
power of their computers to help with the
analysis of data from radio telescopes.

38
• Open Street Map: Is a free editable map
of the world, which has over 100,000 signed
up contributors in mid-2009. Creation and
maintenance of geospatial data is a labor-
intensive task which is expensive using
traditional approaches, and crowdsourcing
is also being used by commercial companies
in this area including Google and TomTom.
• Waze: GPS application for mobile phones
that uses crowdsourcing to provide routing
and real-time traffic updates

39
Wikipedia seems like a good example of a crowd
of people who have created a great resource. But
at a conference last year I asked Wikipedia founder
Jimmy Wales about how articles were created. He
said that the vast majority are the product of a
motivated individual. After articles are created,
they are curated--corrected, improved and
extended--by many different people. Some articles
are indeed group creations that evolved out of a
sentence or two. But if you took away all of the
articles that were individual creations, Wikipedia
would have very little left.
Dan Woods for Forbes Magazine

40
 Netflix Prize, was an open competition for the best
collaborative filtering algorithm that predicts user
ratings for films, based on previous ratings.
 The grand prize of $1,000,000 was reserved for the
entry which best shows Netflix's own algorithm for
predicting ratings by 10%.

41

Crowdsourcing: examples in tourism
42
On October 14, 2013, announced a project asking the
public to furnish ideas for a future exhibition and
reducing the most-often-submitted ideas to one
assignment through a series of public votes. According to
the American Alliance of Museums, this is the first
crowdsourcing project allowing the public to give an
exhibition assignment to an American museum.

Crowdsourcing and computers software
43
Github is a platform of crowdsourcing. The most
important between developers and the
community
Software coding is a particular field where
crowdsourcing is very popular.
Git is a Version Control System (CVS), that is, a way to
control changes in computer files when these are edited
by different people. It can be used for many different
things, as files can be of any kind.
Git is not the first of this systems, but it is certainly the
most popular in private companies and it's free (As in
freedom of speech). It was written by Linux Torvalds
with the purpose of using it for the Linux Kernel, as a
replacement for the non-free CVS Bitkeeper, as other
free alternatives like subversion where too slow.

Crowdsourcing and blockchain
44
One of the latest trends is Blockchain as
Crowdsourcing.
Ethereum is an open-source, public, blockchain-
based distributed computing platform and operating
system featuring smart contract (scripting) functionality
ETH News website is the authority in news,
prices, analysis and information on Ethereum
and its decentralized blockchain platform and
cryptocurrency.

Crowdfunding
45
Crowdsourcing
Crowdwisdom Crowdcreation Crowdvoting Crowdfunding
Crowddonating Crowdsupporting Crowdlending Crowdinvesting

Crowdfunding: the beginning
46
Crowdfunding is not something new. “Micro funding” is a
concept used in the past.
Libraries used to get funds from donors. The subscription
business model is the origin of the current crowdfunding.
The famous Statute of Liberty was raise thanks to a
campaign from a a newspapers asking for donations.

Crowdfunding: the concept
47
What is crowdfunding?
“Crowdfunding refers to the efforts by
entrepreneurial individuals and groups – cultural,
social, and for-profit – to fund their ventures by
drawing on relatively small contributions from a
relatively large number of individuals using the
Internet, without standard financial
intermediaries”
Mollick (2014)

Crowdfunding: factors
48
• Financial crisis
• Internet growth
• Collaborative Economics
• Web platforms

Crowdfunding: pioneers
49
• Who was the first one to use
crowdfunding using the web?
• In 1997 Marillion pledged to their
followers for money for the U.S.
tour.
• They got $60.000 using a fan-based
Internet campaign.

Crowdfunding: Plaforms
50
• In 2003 Artistshare (music)
• In 2005 Kiva (social projects)
• In 2006 LendingClub
(entrepreneurship)
• In 2007 Prosper (entrepreneurship)
• In 2008 Indigogo (Initially films)
• In 2009 Kickstarter (open
platform)

Crowdfunding: Top 20 platfroms of 2018
51
1. Kickstarter.
2. Indiegogo.
3. Patreon.
4. GoFundMe.
5. Crowdrise.
6. PledgeMusic.
7. Razoo.
8. RocketHub.
9. Crowdfunder.
10. Give.
11. Charitable.
12. Lending Club.
13. AngelList.
14. Ulule.
15. Funding Circle.
16. Seed&Spark.
17. Crowdcube.
18. GoGetFunding.
19. Fundable.
20. Kiva.

Crowdfunding: Tipology I
52
• Donation Crowdfunding
• Rewards Crowdfunding
• Crowdfunded Lending
• Equity Crowdfunding
• Source: Baeck, Collins, Westlake 2012

Crowdfunding: Tipology II
53
• All-or-nothing AON
• Keep-it-all KIA
• When you choose all or nothing your get a 39% of
success (Kickstarter model)
• When you choose flexible funding (keep it all) you
get a 6% of success (Indiegogo model)

Crowdfunding: Participants
54
Creators
Plataform
Donors

Crowdfunding: Kickstarter
55
• The most popular
• Wide range or proyects
• All or nothing model

Crowdfunding: rewards
56
• Donations
• Thanks using Social Media
• Access to filming, updates
• Relationship with authors and actors (dinner,
twitter follow-up)
• Product: movie (DVD, Blu-ray, download)
• Special edition of the film
• Attendance at premiere, after party,
• Merchandising material

Crowdfunding: Top fundraising
57
Source: www.crowdfunding.com

Crowdfunding: Top fundraising in Kickstarter
58
$ 20.338.986

Crowdfunding: Top fundraising in Indiegogo
59

Crowdfunding: Top fundraising by Wikipedia
60

Conclusions
61
• We are witnessing a new industrial revolution
• We know new ways of manufacturing
• Communication
• New ways of getting funds (crowdfunding)
• New ways of working (crowdsourcing)

Conclusions
62
• New professional roles

Thanks
63
• Dziękuję za uwagę
• Pytania?

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