Wikistrat Partners with Deloitte to Study the Impact of the “Internet of Things” on Financial Services

To provide a glimpse into the future of how the “Internet of Things” will impact financial services, Wikistrat recently partnered with the Deloitte Center for Financial Services in a crowdsourced simulation. The final product from this collaborative effort is now available for download at Deloitte University Press.

The Derivative Effect Deloitte report

The accelerating pace of technological innovation makes it difficult to predict how the Internet of Things (IoT) might evolve over the next five to ten years — and in particular what it means for financial services: banking, capital markets, commercial real estate, wealth management, etc.

To help Deloitte gain insight into future scenarios and impacts of the IoT revolution, Wikistrat assembled a crowd of academics, analysts and entrepreneurs with expertise in financial services and technology and embarked on an online, strategic simulation. Wikistrat tasked analysts with developing a series of use cases within specific industry sectors and with forecasting and describing the opportunities and challenges that IoT technology presents.

Jim Eckenrode, the Executive Director of the Deloitte Center for Financial Services, writes about the exercise,

The sheer number of ideas [Wikistrat’s] workshop generated in a short period suggests that opportunities to capitalize on new information flows may be limited only by our collective imagination.

Click here to download Deloitte’s report from this engagement.

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