Separating Winners From Losers: A True Platform Approach
Choudary of Platformation Labs on Shifting Perspectives to Optimize Platforms
CIOs and technology leaders today grapple with understanding how are those who succeed in a digital economy different from those who do not, how technological changes reshape the economics of entire industries, and how industry structure determines who succeeds or falls behind.
To address these questions and help industry leaders understand the ever-evolving dynamics of modern business, platform utilization is an effective solution, according to Sangeet Paul Choudary, founder of Platformation Labs. Platforms create mechanisms for diverse actors and stakeholders to collaborate, create and exchange value by not only offering plug-ins, such as APIs and data, but also providing the comprehensive infrastructure needed. The introduction of AI technologies has enhanced decision-making and action by making the platforms more effective.
"To build a robust platform strategy, CIOs and tech leaders need to shift from an 'inside-out' approach - focused on managing internal information systems - to an 'outside-in' perspective that considers their industry's business model, opportunities, threats and technological landscape," Choudary said.
"CIOs must also account for the role of data in their platform strategies, including understanding the distinction between primary and secondary data and recognizing how new players with access to valuable data might enter their industry," he said.
In this video interview with Information Security Media Group, Choudary also discussed:
- How implementing AI solutions helps improve platforms;
- Why enterprises need to ensure data segregation to optimize their platform strategies;
- How CIOs play an important role in shaping the platforms of tomorrow.
Choudary has more than 20 years of experience and leads growth and research initiatives as a board and advisory committee member at numerous regulatory and advisory bodies, including Global Innovation Council. His books on platform strategy have been featured in Harvard Business Review.
