David & Goliath Must Dance™ Lunch on the Future of Cargo, Shipping and Logistics
5th April 2016 / Ariadne Capital Offices, 17-19 Cockspur Street, SW1Y 5BL, London
1. What is a David & Goliath Must Dance event ?
David & Goliath Must Dance events are hosted by EntrepreneurCountry Global in order to explore the challenges and opportunities of an industry in real-time transformation into an ecosystem.
A history and a calendar of these events are listed here.
Anastasia Andrianova – Partner at Apiro Capital
Bo Alexander Barfod – COO at Wuxus
Charlie Pool – CEO at Shed
Flemming R. Jacobs – Former Partner at Maersk
Freddie Talberg – CEO at PIE Mapping
Luke Thomson – CEO at ReChannel
Paul Reece – CEO at Ibexis Technologies
Paul Richardson – Managing Director of Specialist Services at DHL
Paul Tarantino – Vice President at MapR Technologies
Richard Browning – Oil Trader and Innovator at BP
Sivan Zohar – Business Development Manager at Quicargo
Amit Pau – Managing Director at Ariadne Capital
Ilona Simpson – CIO in Residence and Senior Advisor at Ariadne Capital
Nikos Delitsikas – Analyst at Ariadne Capital
The event was filmed and some interviews can be seen here: ECTV Weekly Briefing – 11/04/2016
3. Key Quotes
- Flemming R. Jacobs, Former Partner Maersk said, 'Maritime transport is essential to the world’s economy as 90% of goods are transported by sea. Yet shipping industry is significantly behind other industries in adoption of new technologies and business models'.
- Paul Tarantino, Vice President MapR Technologies said 'We have all come across Big Data topics and the terms like 'Data lakes'. However, only businesses who have the right approach and leverage modern technology can significantly improve their business performance by driving the insights from big data'.
- Paul Reece, Commercial Director Ibexis Technologies said, 'Emergence of Internet of Things further emphasises the importance of Big Data capabilities as smart hardware and sensors generate large amounts of data'.
- Paul Richardson, Managing Director DHL Specialist Services Division said 'DHL have recognised the power of predictive analytics and could reduce inventory of a major airline by approximately 30% by developing the proprietary Big Data solution'. 'DHL Specialist Services Division is growing 5 fold in 5 years. We created a new entity called "New World Digital" and based them at WeWork to be where innovation happens, and to drive innovation to our customers that delivers tangible results'.
- Richard Browning, Trader BP said, 'Legacy systems used to be the differentiator for businesses. They have now become the decelerator and are the opportunity for start ups to create competitive advantage'.
- Charlie Pool, CEO Shed said 'By applying Sharing Economy principles in the Logistics industry, we unlock the potential of spare warehouse space due to seasonality and are able to maximise asset utilisation'.
- Bo Barfod, COO Wuxus said 'And transferring similar principles and the marketspace framework, we utilise spare space on the trucks creating value for both the forwarding companies as well as for their customers’.
- Luke Thomson, CEO ReChannel said 'The shipping industry is not exploiting the potential of big data, since a huge amount of data is silo driven.'
- Flemming R. Jacobs, Former Partner Maersk said 'There will not be an Uber model in the cargo and shipping industry. Legacy plays a significant role in shipping and legacy lies in the way corporates operate.'
4. What were the key learnings
- Data is key to the Cargo, Shipping and Logistics industry, but it needs adequate governance, processes and skills to ask the right questions and to turn information into insights.
- Particularly in the maritime sector where capacity is pre-determined far in advance (it takes 4-5 years to build a ship, and there is no room to expand or shrink physical capacity), smart utilisation of assets is key to competitive advantage.
- Legacy technology in the established industries represents the opportunity for Digital Enablers to create and deploy solutions at a fraction of time.
- Key technology opportunities to serve the sectors are Internet of Things and Data/Predictive Analytics.
- Emerging business models / frameworks that will take those asset intense industries to become ecosystems are Marketplace and Sharing Economy.
5. Ecosystem Economics
An overview of Ecosystem Economics can be found here.
The attendees of the Future of Cargo, Shipping and Logistics lunch discussed how Digital Enablers and Goliaths could generate supra profits by incentivizing individuals, creating digital revenues, and partnering with Natural Allies.
6. Digital Ecosystems
EC Global will be launching their first live digital ecosystem – Smart Home – on the 19th of April at the EntrepreneurCountry Global. The #BuildaCountryChallenge – Smart Home – will transition into the Smart Home Ecosystem by EC Global, and all of our content, events and discovery for Davids, Goliaths and citizens will occur there.
We are building a plan for managing a live digital ecosystem in the Future of Cargo, Shipping and Logistics; if you would like to be part of the planning team, send an email to firstname.lastname@example.org . We'll be in touch.