All posts tagged EY

EY Shares Insights from Wikistrat Crowdsourced Simulation

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Earlier this year, EY partnered with Wikistrat to crowdsource the implications of industry convergence. 56 professionals from 23 regions and across 17 industries collaborated on Wikistrat’s online, interactive platform over the course of nine days to identify the industries most ripe for convergence and to analyze the effects of this trend.

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The crowd developed 46 in-depth scenarios which revealed not only how the way we do business will be transformed but also the way we live.

Three industries in particular were seen by the analysts as most susceptible to convergence: healthcare, mobility and financial services. EY’s latest report about convergence focuses on these domains.

Why are healthcare, mobility and financial services on the front lines of industry convergence?

All are industries where disruptors from other sectors are redefining value, services and the customer experience, writes EY. Read More →

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EY and Wikistrat Crowdsource the Implications of Industry Convergence

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In an era of disruption and convergence, what are the new skills and competencies businesses need to succeed?

To find out, EY has partnered with Wikistrat in an online, crowdsourced analytic exercise. Some 70 analysts, including hand-picked experts from Wikistrat’s global community and invited associates and clients of EY’s, are collaborating to map out how convergence will change the competitive landscape for industries and how it will affect leading global companies.

At one level, convergence is about the gradual interweaving of previously discrete areas of activity. But it is more than a merger or an acquisition. The broader implication of convergence is that it actually transforms existing activities into something entirely new – in essence, shifting the paradigm so that the previous activities or industries are no longer the same.

Wikistrat’s methodology is particularly suited to this type of forecasting and analysis. We leverage the wisdom of the crowd to explore many different and competing scenarios at the same time — and assess which ones are the most likely to come about. Analysts are encouraged to approach the subject matter from various points of view and challenge conventional wisdoms.

After identifying which industries are most likely to evolve and reconfigure in new ways, the crowd moved on to studying the implications for companies. What are the questions business leaders should be asking? And what can they do to take advantage of convergence? Read More →

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The Future of Industry is Convergence: An EY-Wikistrat Collaboration

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Wikistrat is excited to announce the launch of a new crowdsourced simulation today in partnership with EY in which a global community of analysts from a range of specialty areas will study the future of convergence in industry.

Disruptive forces — from technology to customer empowerment to evolving social challenges — are transforming the landscape of industry. We are at the cusp of a new business revolution, where the boundaries between previously discrete industries and sets of participants are blurring, creating new competitive threats, disrupting established business models, and challenging companies to find opportunities to thrive in this new and evolving landscape.

More than 30 hand-picked top experts from Wikistrat’s community will collaborate in this online project with an equal number of analysts from EY’s global network of clients and associates to investigate:

  • The drivers of industry convergence
  • Scenarios for convergence between specific industries
  • The implications for large global companies

Wikistrat’s model of Collaborative Competition™ allows analysts to explore many different and competing scenarios. Participants are encouraged to approach the subject matter from various points of view and challenge conventional wisdoms.

The simulation’s findings will be shared by EY in an insight series on this topic. Everyone who is interested should keep an eye on Wikistrat’s and EY’s digital channels where initial insights from the project will be shared throughout the month.

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