Disruptive innovation @ GSMA Thrive North America 2020
Day 2 of the GSMA Thrive North America 2020 started with the opening session on disruptive innovation. Ms. Stephanie Lynch-Habib, CMO, GSMA, said that disruptive innovation is all around us. No sector has been spared due to Covid-19. We are showcasing what some of the organizations have done.
Beware of deep fakes
Dr. Ms. Celeste Fralick, Chief Data Scientist, Senior Principal Engineer, McAfee, said that today, shallow fakes are prevalant! Disinformation, though fake, is not new. They still exist. Today, we see manipulated images everywhere. There are fake profiles of people and videos put up and everywhere. There are generative adversarial networks (GANs). This six-year old technology has exploded in the world of AI. You can generate images, just like an art forger would do. MIT has also described GANs. This is very worrisome.
However, GANs do have a positive impact on the society. You can create design ideas, realistic photography, etc. Deep fakes are a big business. AI and ML have it in them to create $2.6 trillion by 2020 for deep fakes, such as face swaps, smile vectors, etc. There are fake websites and accounts, as well.
Social media sites have started to detect everything. Detection capabilities are improving, however. There are detection techniques for deep fake texts, using natural language processing. It is up to you what is real vs. what is fake. Beware the fakes, whether shallow or deep. Use your gut to detect deep fakes.
Discovery shopping to the fore
Ms. Sree Menon, COO, Tophatter, discussed about discovery shopping. She added that all of us are probably doing discovery shopping. It is shopping without a particular purchase in mind, unlike utility shopping. Discovery shoppers are deal-focused, etc. You can actually discover purchases, have an entertaining experience, etc. Eg., there is the Tik Tok vs. YouTube.
The majority of the discovery shoppers are female, in the age group of 35-65 years. They are price-driven shoppers who enjoy the treasure hunt feel. Offline, they enjoy stores like TJ Maxx, Marshalls, and other Dollar stores. With e-commerce growing so fast, and with more purchases moving to mobile, the segment is evolving and expanding. Discovery will ultimately follow utility to mobile.
Discovery is a $200 billion market that is mostly offline. There are major discovery retail players with almost no online or mobile experience. Tophatter has created the mobile shopping treasure hunt. These are real-time, snackable-feed format, entertaining and gamified, and push based. Retailers without distinct positioning are struggling. Consumer behaviour has quickly shifted and will be changed forever, due to Covid-19. Consumers probably have 1/5th of the budget than last year. So, value shopping has accelerated, as well.
The retailers of the future will acquire meaningful consumer data through mobile and web data. You may use physical retail as a strategic lever, though that is not necessary. Channel optimization is taking place to reduce costs and maximize the customer experience. The future of retail remains unclear, but large divides are accelerating. There is e-commerce vs. physical retail, discovery shopping vs. search-based shopping, and marketplaces vs. big-box stores.
5G in airports and sports
The keynote was followed by a panel discussion, moderated by Mike Finley, CEO, Boingo Wireless. Boingo Wireless powers large stadiums, etc., using 5G and CBRS, etc.
Justin Erbacci, CEO, Los Angeles World Airports (LAWA), said we are doing significant improvements to the Los Angeles Airport (LAX). There is a $14 billion renovation project.
There are four new terminal construction projects that we are implementing. The major concern was to protect the health and safety of passengers and employees. We have intensified cleaning and also used purifiers for clean air. We also cleaned the escalators.
We provided information to passengers regarding social distancing for passengers. We also had a new order now dining and shopping app, to allow passengers to order on their phone and pick up on arrival, without any contact. We are the first ones to deploy biometrics for passengers. We have passengers tag and place their bags, using biometrics.
Regarding 5G, LAWA will digitally transform. A big part is the digital marketplace that allows passengers to get the information and services they need through any channel. We have nine terminals at LA. You can get all the information via any channel. There is a smart parking solution. We have to engage with customers also, throughout their journey.
The key to all of this happens to be connectivity. 5G will provide the robust connectivity. We are also moving toward IoT. 5G will be essential to connect with the different aspects of IoT.
Ms. Gillian Zucker, President, Business Operations, L.A. Clippers, added that they have made great progress in the past six years. All of the operations, inside and outside, are being taken care of. During Covid-19, we learnt that the innovative and smart people can accomplish a lot. NBA had shut down. When you get a diverse group of people with different perspectives, everything can be achieved. The sacrifices that lot of league staff made is commendable. You cannot underestimate the mental health impact on sportsmen.
Outside the NBA, we acquired the Forum. Going through a transaction, and onboarding new employees has been successful. We are doubling down the live events. It has been a strategic move for us.
Clippers now have a new home. This building has a new perspective. When it is finally built, there will be inputs from people for over nine years.
Ms. Kathryn Schloessman, President and CEO, Los Angeles Sports & Entertainment Commission, noted that the Superbowl helps with workforce development. We are soon going to choose 250 locals for a new program. Competition and guest experience are very important. World-class events help a lot in the recovery. They speed up infrastructure improvements, etc. We need to differentiate ourselves from competition with better guest experience.
We also have three key priorities. We need to pay for the major events. We have the 2022 Superbowl. Third, new business development. We need to ensure that all those who participate get a return on investment.
At LA events, 5G will be the front and center of all the events. They will be state-of-the-art. Oculus has got actually a lot of attention. There is lot of content being created live for fans, and you will need your smartphone to get all that. It will tell you what to do, and when. Major events are also demanding smart and efficient buildings.
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