Lec2_DigitalBiz1v4

Lec2_DigitalBiz1v4 - Digital Economy (I): The Future of...

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Unformatted text preview: Digital Economy (I): The Future of Business ISOM 101, Spring 2011 Lecture 2 2 Overview   What is “IS”?   What are some big trends in technological advancements and how will they affect us?   How will IT transform the business world in the near future? Prof. Raymond G. Sin (c) 3 “IS” is…   Information Systems = “Information” + “Systems”   The use of technology (“systems”) to:               Acquire… Organize… Process… Analyze… Create… Distribute… Store… information Prof. Raymond G. Sin (c) 4   Is this information? Courtesy of Prof. Michael Zhang 5 617577574 Courtesy of Prof. Michael Zhang 6 Courtesy of Prof. Michael Zhang 7 Courtesy of Prof. Michael Zhang 8 Dalai Lama 12 Dec 2008 Prof. Raymond G. Sin (c) 9 Courtesy of Prof. Michael Zhang 10 In Sum, “IS” is…   The use of technology to perform functions that transform raw data into useful information/knowledge   For whom?   For what purpose? Prof. Raymond G. Sin (c) 11 Prof. Raymond G. Sin (c) 12 Prof. Raymond G. Sin (c) 13 Prof. Raymond G. Sin (c) 14 Prof. Raymond G. Sin (c) 15 Technology is…   Note that the aforementioned processes are not necessarily electronic or “digital” (though increasingly so)   Some “mechanical” systems:   Old cashiers (machines, not the lady in “BarknShop”!)   Punch cards Prof. Raymond G. Sin (c) 16 Some Examples   Can you name a few examples in your daily life that involve information technology?   Can you name ONE example in your daily life that does NOT involve IT?   Taking a bath?   How does clean water reaches you with correct pressure?   Eating?   How do you think safe food gets to your table?   From growing a grain of rice to rinsing to distributing to retailing to purchasing…   Sleeping?   Well, unless you don’t rely on an alarm clock Prof. Raymond G. Sin (c) 17 18 Well, NOT Entirely True Soon   Your creditor will not send a Terminator to collect the debt (yet)…   But major credit unions are negotiating with the gov’t…   If you don’t pay off your debt, your credit cards, bank accounts, EPS, etc… will be FROZEN   Kind of like “automatic bankruptcy” Prof. Raymond G. Sin (c) Information Technology and Information Revolution 19   Information revolution driven by information technology (IT)   IT in early days (around 1946 ~ 1950s)   3 meters tall, 50 meters wide, and expensive   500 KHz clock speed (LEO I, 1951)   Only a few machines were affordable, primarily for military Prof. Raymond G. Sin (c) 20 Computers in 1950s, 60s Prof. Raymond G. Sin (c) 21 Some Big and Important Trends (1)   No (affordable) calculator till 70s   My first computer:   286 processor (~10 MHz), 1MB Ram, 16MB HDD   By 2006:   Core2Duo T6700 (2.67 GHz), 2GB Ram, 140GB SAS HDD   My first modem:   ~1000bps (1/10000 of today’s speed)   Download time for 1MB file: 1 HOUR   Subject to uninterrupted connection   Full length movie?   Weeks, if not forever Prof. Raymond G. Sin (c) 22 Some Big and Important Trends (2) >3200   The PSP in your pocket has processing power of _________ of the big old giants!!   Moore’s Law (1965)   Gordon Moore (Intel’s Founder)   #transistors on a chip doubles every 18 months Prof. Raymond G. Sin (c) 23 24 25 Prof. Raymond G. Sin (c) 26 Prof. Raymond G. Sin (c) Information Technology and Information Revolution 27   Clearly, current rate of technological advancements has exceeded Moore’s Law by HUGE margins   Technology progresses at a faster pace than any of us at any point in time can image (calculator in 70s -> powerful supercomputer in your pocket in 90s)   For the last 20 years, the power of PC increased by more than 10 thousand times.   So… just how significant is this? Prof. Raymond G. Sin (c) 28   If cars had developed as fast as PCs for the last 20 years, we could buy a Rolls-Royce at $_______ and it could run 2.75 2,000,000 _____________Km with 1 liter of gas. (Jeffrey Rayport, Harvard Business School) Prof. Raymond G. Sin (c) Fancy toys Too “Futuristic”? 31 Robot “Wife” - Aiko 32 Fancy Interfaces Prof. Raymond G. Sin (c) 33 Too Futuristic? Future Home and Revolutionary 3-D Experience? 34 35 We already have the technology! 36 Where is the big picture? Technological Advancements – Some Implications (1)   For an average computer user:   Faster computers   More sophisticated software   More fancy games and interfaces   More sophisticated graphics and MPx with excellent sound quality Prof. Raymond G. Sin (c) 37 Technological Advancements – Some Implications (2) 38   For an average consumer:   Convenience becomes the norm, rather than something “extra”   Everyone expects fast check-outs at supermarkets   No more searching for coins in front of vending machines, for taking a bus, MTR, etc.   More online shopping and door-to-door deliveries   Business implications on this: to be discussed in length in the next few lectures   More programmable and water/energy-efficient laundry machines, dish washers, gas stoves   More fancy home-theater systems   More e-banking, e-pay, e-channel, e-crimes, e-everything Prof. Raymond G. Sin (c) 39 Everything’s Amazing… Yet Nobody’s Happy Prof. Raymond G. Sin (c) ...
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