D/SRUPTION50 Index Revealed at Disruption Summit Europe 2019: EVRYTHNG Recognized for the Digital Switch-on of the World’s Consumer Products; Disrupting the Way Brands and Consumers InteractContinue reading
EVRYTHNG @ Davos
On day #4 of the World Economic Forum annual meeting here in snowy, sunny Davos deep in the Swiss Alps, the real themes of the global consumer products industry are coming into focus with live debates and energetic conversations.
In a nutshell, global shifts in consumer demographics and behavior and digital-driven competition are demanding:
- transparency of product provenance and new models of localized and personalized retail and service delivery as consumers are increasingly making values–based purchasing decisions;
- rules and competencies to gather and make use of data on a global scale, while protecting consumer trust and navigating increasing regulation and accountability to how data is used;
- real application of artificial intelligence to production and delivery for speed and integrity, while addressing the implications of the technology for workforces;
- scaling-up of new models for manufacturing that competes with agility and dynamic value chains; and
- urgent (and necessary) high impact response to sustainability, and specifically to climate change (see the WEF Blog post I just published touching this theme).
The rules of the Forum negate sharing specific consumer industry CEO comments, but these themes abound in discussion at Davos this week, and the urgency of solutions for a global response is tangible.
Selected by World Economic Forum as a Technology Pioneer, EVRYTHNG has three major technology contributions to the dialogue here:
First, our role working with GS1 to upgrade the world’s barcodes with Digital Link giving every product and every product item a web address at mass scale, turning every item into a data generator throughout its lifecycle, and connecting every product item with its digital twin Active Digital Identity in the cloud. This has created a key component of the standards-based data infrastructure for the digitization of physical products at mass scale.
Second, EVRYTHNG’s application and integration of multiple supply chain Blockchains to facilitate data sharing and application of real-time analytics with supply chain data — fundamentals for addressing the scaling of traceability (which by definition needs to work across an ecosystem of suppliers, manufacturers, distributors and retailers) and the application of AI in the supply chain.
And third, machine learning applied to supply chain data for integrity detection and process optimization.
I’m thrilled EVRYTHNG is leading and participating in discussions on the future of manufacturing, blockchain in the supply chain, sustainability in manufacturing and response to consumer trends where these innovations are being applied.
Much has been made at Davos this year of the diversity of the operating environments in which consumer product brands and manufacturers are operating. Whether it be responding to GenZ’s values-driven purchasing behavior contrasted with the experiential needs of aging populations in developed markets. Or whether it be the tapestry of data management regulations across the world, Europe’s GDPR in one corner, China’s regime in another, the relatively loose framework in the U.S. in another. The fundamental message is that we now live in a world where consumers expect localized and personalized experiences, where the effectiveness of data integration and data flow has to navigate national rules, and where the competence of instrumentation and data management has moved from being a cost center issue to being a value-driven determinant of competitive advantage.
For EVRYTHNG’s mission of organizing the world’s product data, it’s an encouraging picture. There are a lot of issues to work through for digital transformation in the consumer product industry to yield its full value potential, but the framework is coming into clear focus.
The ability to have traceability of every product item through the supply chain, into the hands of the consumer and beyond is table stakes. Direct connection with the consumer is the only way to compete in an experience-driven consumer world. The fidelity and real-time application of data gathered during the product’s supply chain journey is the keystone to competitive advantage for consumer product brands — for efficiency, integrity protection, transparency and compliance.
More reflections to come.
EVRYTHNG… Pioneering the Way for Consumer Product Brands
I’m incredibly proud to reveal that EVRYTHNG has been named by the World Economic Forum as a 2018 Tech Pioneer.
Innovation takes many forms. Sometimes relevant to the masses. Sometimes a select few. This year’s class of World Economic Forum Technology Pioneers is proof and I’ve got to say it is humbling to stand among this prestigious group of innovators.
How did we get here?
EVRYTHNG is disrupting the way consumer product brands interact with their customers by bringing billions of products — thngs — to life with a digital identity on the web. Every product — we’re talking purses, soda, hats, shampoo — can now tell its intimate story creating a real-time knowledge network of product data.
The massive takeover of online sales and the domination of a few players like Amazon has reduced some of the world’s most beloved brands to mere manufacturers: Online retailers get powerful data about who has purchased products while leaving brands in the dark. Plus, global brands are facing bigger, more critical macro business issues than ever before.
- $461bn or 2.5% of global trade lost each year due to counterfeiting
- Growing costs and environmental impact of waste, arising from lack of visibility into closed loop supply chains
- Consumer loyalty is dwindling — shifting focus to sustainable, ethical and transparent brands – the rise of the B corp
EVRYTHNG is pioneering the way for consumer product brands to embrace this transformative time and reclaim market leadership. Beyond the tools to digitize and connect every product to the digital ecosystem, we provide the real-time data to drive consumer trust and provide brands with visibility, control and pre-emptive intelligence throughout the product life-cycle. EVRYTHNG also allows brands to fight two of their biggest supply chain problems: counterfeit products and gray market imports.
At a very broad level EVRYTHNG exists because the world needs greater efficiency in how we make, sell, use and dispose of physical products – huge amounts of inefficiency, waste and losses simply as a result of information about state and location of physical products not being readily available. EVRYTHING helps brands reclaim product intelligence, using the existing GS1 product coding already in use on trillions of items, so that any company can understand its consumers, no matter what smart packaging or product ‘trigger’ they use — QR code, NFC tag or RFID chip — creating unique and direct links between the consumers and the brands they buy.
What’s next is really a whole separate blog. But I do want to say one thing to any consumer product brands who may be reading this, now is the time to act. Don’t wait until your competitor or even a new entrant to the market rides this wave past you. The possibilities are limitless. Change can be difficult. But this is really an exciting time and we are here to help guide you as we continue to lead — pioneer — the way.
EVRYTHNG Named Technology Pioneer by World Economic Forum
- World Economic Forum on Thursday announced its selection of the world’s 61 most promising Technology Pioneers 2018, the most diverse class of such pioneers ever.
- Companies were selected for their potential to “transform society and industry” and “shape the Fourth Industrial Revolution,” said Fulvia Montresor of the World Economic Forum.
- EVRYTHNG, a pioneer of the Internet of Things (IoT), has changed the way consumer product brands and consumers interact by bringing billions of products to life with a digital identity on the web. EVRYTHNG uniquely allows each individual product to tell its intimate story creating a real-time knowledge network of product data to drive consumer trust and provide brands with visibility, control and pre-emptive intelligence throughout the product life-cycle.
- The full list of recognized Technology Pioneers can be viewed here.
June 21, 2018 — London & New York — EVRYTHNG, the market leading internet of things data management platform for consumer products, was selected among hundreds of candidates as one of the World Economic Forum’s “technology pioneers.” The fusing of physical and digital is a primary force of the Fourth Industrial Revolution which is transforming the world around us. EVRYTHNG is at the forefront of this revolution, creating a new real-time knowledge network with data collected from individual consumer product items, throughout each product’s life-cycle. Consumer product manufacturers around the world, including Coca Cola, Unilever, LVMH and Diageo, are using the EVRYTHNG platform to manage trusted information and apply real-time intelligence to hundreds of millions of products — protecting brand integrity in the supply chain with visibility and pre-emptive intelligence, and connecting directly with end-customers to build brand relationships.
The World Economic Forum’s Technology Pioneers community are early-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and are poised to have a significant impact on business and society.
EVRYTHNG is at the forefront of industry development, co-chairing a GS1 working group to upgrade the world’s barcodes and give every product a web address, pioneering web of things standards with the World Wide Web Consortium, and working with the Blockchain Institute to integrate blockchain technology with supply chain applications.
This year’s cohort is the most diverse ever, both geographically and in terms of gender. 25% are female-led, and a majority (54%) come from regions outside the United States and Silicon Valley, with each continent represented, barring Antarctica. There is also a wide variety in the technologies the pioneers focus on: the focus technologies include artificial intelligence, big data and internet of things (IoT), biotechnology, blockchain, autonomous vehicles, cyber security , vertical farming and other agricultural advances, decentralized micrograms and robotics. The full list of technology pioneers can be found here.
Following its selection as Technology Pioneer, Co-founder and CEO of EVRYTHNG, Niall Murphy, will be participating in the World Economic Forum Annual Meeting of the New Champions. This meeting, also dubbed “Summer Davos,” will be held in Tianjin, China, September 18-20. Many Pioneers will also attend the Annual Meeting in Davos, in January 2019, and continue to contribute to Forum initiatives in the course of the next two years.
“We welcome EVRYTHNG in this diverse group of technology pioneers,” says Fulvia Montresor, Head of Technology Pioneers at the World Economic Forum. “EVRYTHNG and its fellow pioneers are front and centre in shaping the ongoing Fourth Industrial Revolution and we believe they will be transforming society and industry in a positive way in the years to come.”
“We’re very proud to be acknowledged as a pioneer by the World Economic Forum and to see the digitization of the world’s physical products identified as a primary force in the Fourth Industrial Revolution,” said Niall Murphy, Co-founder and CEO, EVRYTHNG. “EVRYTHNG is driving the evolution of the internet of things, creating a new knowledge network of product data-driven intelligence with consumer product manufacturers around the world. With EVRYTHNG, the four trillion consumer products made and sold every year can now talk and tell their stories in real-time — revealing unprecedented insight and opportunities for greater efficiency and sustainability.”
The Technology Pioneers were selected by a selection committee of more than 60 academics, entrepreneurs, venture capitalists and corporate executives. The committee based its decisions on criteria including innovation, potential impact and leadership. Past recipients include Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia.
“We want to use this award to accelerate awareness of the accessibility and large-scale benefits of product digitization with consumer product brands and the consumer product manufacturing ecosystem. Consumer product businesses are facing unprecedented challenges with the transformation of business models and consumer needs. This is a pivotal moment in history and now is the time to take action,” added Murphy.
All info on this year’s Technology Pioneers can be found here:
More information on past winners can be found here.
EVRYTHNG is the market leading internet of things platform for consumer product brands, articulating trusted information with real-time intelligence for billions of things. Now each individual product item can tell its intimate story to businesses and to consumers throughout its product life-cycle. EVRYTHNG gives consumer product brands a real-time knowledge network of the things that move their business, driving consumer trust and pre-empting risk and inefficiency. Learn more at:
https://evrythng.com and @EVRYTHNG
About World Economic Forum
The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).