HOW DIGITAL LIFE CHANGES OUR PERSONAL ECONOMY –

A MARKET ANALYSIS Journal of Innovation Management (web link here) by Mourgis ,Zaffiro

Digital life – We all have digital footprints and have a more or less a life called digital life. This impacts personal and
corporate economies with open innovation tools

Sharing economics - enables distribution, sharing and reuse among participants of excess capacity of products or
services. PwC claims that the emerging sharing economy is going to reach the same revenue value of the traditional
competitive economic sectors growing from 5% of market share in 2013 to 50% in 2025 and $335 billion in value.

Crowd sourcing – is a collective intellectual gathering of information/ideas from the public usually sourced via the
internet to complete a business related task. Examples include - Wikipedia – where people from around the world
contribute; Facebook / LinkedIn– creating communities to ask for opinions
Driver and barriers to Crowdsourcing Presently impacting sectors Future impacted sectors
 Political drivers  Commerce – ebay  Energy sector
 Economic drivers  Tourism – AirBnB  Telecommunications sector
 Social drivers  Transportation – Uber  Healthcare sector
 Technological drivers  Professional services – coworks.com,
 Environmental drivers peopleperhour.com
 Legal drivers  Financial services Loannow, lending club
 Education sector –openlearning.com, udemy

I personally liked this article because it is so connected to our lives and we all are already using and contributing to this space
which was unknown to me