​How do we create value in a digital world?

At the turn of the millennium, the number of people connected were 361 million. Now the number has increased almost tenfold. It is such a dramatic increase that it is difficult to grasp the consequences of it.

I am convinced that we have only seen the beginning of digitization. Even though the number of connected people cannot possibly continue to increase in the same way as before, all suggests that the so-called "Internet Of Things" will continue to grow exponentially. IBM predicts that in three years, 26 billion objects and systems will communicate with each other over the Internet. It is an incredible figure but I think they are right in their analysis. It is now that everything will be connected.

From encyclopedias to knowledge on demand

In the early 1990s, there was much talk about the new economy. I could not for the life of me predict that the companies delivering free services to me as a private individual would become 2000s big winner. It was at a time when true success was shown in a well-stocked bookcase. Preferably, one would have their own library with a complete collection of encyclopedias from A to Z.

Now we have access to knowledge on demand. Wherever we find ourselves, we have all the world's facts within reach. It has already contributed to great value for many people. On our own, we can analyze diseases, fix the heater and medicate our children against sinusitis.

Self-diagnostics and digital traces

In the future, I think we in most cases will be able to give ourselves as reliable diagnoses as doctors can today. Hopefully then, doctors can devote more time to the patients who need the help the most.

I also believe that the police will easily be able to prove that you were driving too fast the other day by reading your online car route. And not only that, they will be able to see where you refueled (or charged) your car and the sweets you bought with the coffee at the rest stop. Few of our actions will not leave digital traces.

How is your business affected?

Digitization affects everything and the question is not if it affects your business, but how you deal with it. Do you realize how you are affected? Do you see it as a threat or as an opportunity?

It is now time for the M3 user associations' annual conferences in several countries and many items on the programs is about digitization. I very much look forward to hearing from my colleagues on the spot about which new ideas are bubbling within the community on how we, by using M3, can benefit from the endless possibilities of digitization.

In these changing times, I feel that Merit's motto is more relevant than ever: Turning Knowledge into Value.

Anders Thern
EVP Sales & Marketing at Merit Globe AS