2013 was a year in which media attention and hype targeted 3D printing: “artisanal” do-it-yourself (DIY) upstarts on Kickstarter making headlines across the blogosphere every week; high-profile speculation, such as President Obama’s quip that 3D printing will create a new manufacturing economy in the US; and Victoria's Secret models strutting down the runway in elaborate 3D printed corsets and signature wing accessories.
The excitement has reached the C-suite, where execs are wondering how this elusive and unfamiliar new technology will affect their business. As the resident techie, the CIO should expect the questions to come her way: What are the business implications? How fast is the technology developing? What are the implications for business technology at your organization?
Here are three angles on how 3D printing is driving business impact and digital disruption:
1. 3D printing can create tremendous business value — today. 3D printing enables key business imperatives in the age of the customer: faster time to market, new products and new markets, and the expansion of personalized products or services.
Last year, we saw mobile apps getting smarter, tapping a wider range of personal data to anticipate and deliver in-the-moment needs before a customer takes action. Google is in the lead with Google Now, but Apple and Microsoft also signal interest in this space. Much like the VIP concierge services of major credit cards and airlines, these apps have the potential to form intimate customer relationships and increase affinity for products and services. And they are resetting expectations in a new paradigm we call the mobile mind shift — the increasing expectation of individuals that they can access any service, in context, in their moments of need.
You have an opportunity to play in the game, but to a different tune, one that enriches your brand by enhancing existing scenarios, engagement points, and relationships.
In 2014 and 2015, we anticipate that customer-obsessed companies in verticals such as retail, finance, and insurance will introduce and develop proactive features in their mobile loyalty apps. CIOs should expect an influx of requirements from marketing peers leading such efforts. With the opportunities will come challenges on three dimensions:
1. Business strategy. Proactive experiences can reap extraodinary rewards but can also lead to devastating consequences. For example, achieving 85% accuracy with your recommendation engine appears to be a success — until you consider the diminishing returns of a 5x penalty on trust factor for that 15% you got wrong.