Interesting KPMG Report published in 2007, but really up to speed around Web 2.0 and Generation Y. In its Executive Summary it can be read: “New technology can often be disruptive. But the pace of change in information technology over the past few years, and the speed with which technology has been adopted by Generation Y, poses particular challenges for business in general, and for media companies in particular. What has become known as Web 2.0—a somewhat overused term that refers to a second g...
Other interesting highlights:
• While mobile phone ownership is nearly ubiquitous, the ways in which consumers use their phones shows great variance.
• The internet is a key source of news in Spain and the phenomenon of "pásalo" (forwarded SMSs) is especially significant as a form of involvement for a public who are allegedly alienated from politics, says Rocio Campos Martinez Partner, KPMG in Spain.
• New technologies have traditionally been introduced by a small, skilled group, but Web 2.0 is the property of an entire generation, says Bernard Salt of KPMG’s Australian firm.
• Generation Y has been fastest to latch onto the opportunities of new technology, especially its networking possibilities. But the full effects on politics and society have yet to be seen, says Frances Cairncross.
• The internet is changing how we organize information, how we interact, how we learn, how we do business, even how we think, says David Weinberger. Companies should beware Web 2.0 will deliver even more power to the people.
• The internet has catalyzed a shift in our economy from consumption to creation, says Paul Saffo. The web is now a destination for creating and socializing in profound ways that have yet to unfold.
• Second Life is not an alternative to the "real world" says Linden Lab’s Chief Technology Officer, Cory Ondrejka. Rather, it enables people to learn, experiment and grow businesses in a safe environment.
• Certainty and stability of tax is a priority for Finance Directors. This is difficult enough to achieve now, but the emergence of wide global networks of collaborative activity, and uncertain intellectual property ownership, will provide extraordinary challenges for the foreseeable future, says David Nickson of KPMG in the U.K.
• Search engines dominate the battle both to capture and to monetize consumer attention, says KPMG’s Lars Mouritzen. But recommendation engines promise to be the "next big thing" that Generation Y are likely to latch onto.
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