View profile

Laurent Haug's newsletter, issue #16

Welcome to this week's newsletter, discussing new data-driven business models, our emotional connecti

Laurent Haug

June 21 · Issue #16 · View online
News and thoughts on society's ongoing transformation.

Welcome to this week’s newsletter, discussing new data-driven business models, our emotional connections with robots, and “ultrasonic free-space haptics technology”. If you’ve received a forward of this newsletter, you can subscribe by clicking here, and don’t forget you can send me your reactions and comments by simply replying to this message.

Examples of new businesses data creates
Spanish bank BBVA is creating a whole new business out of customer data, proving that it is the starting point of a lot of opportunities in the 21st century. Data is a bit like block chain or the internet of things, in the sense that a lot of people know it’s an important topic, but are not really sure how it will be used concretely. This article provides very easy to understand and striking examples of what becomes possible when an institution creates deep understanding of its clients’ behaviour.
Speaking at FST Media’s Future of Banking and Financial Services conference in Melbourne, BBVA’s chief data scientist, Marco Bressan, said his bank had aggregated all client data into a single view, and was combining that with point-of-sale (POS) and ATM data collected from across Spain. This created a highly dense network of sensors that captured data on one in six transactions.
“We are profiling our clients, assigning them attributes based on their lifestyle, and learning from what they do. I can learn if they like football from ATM withdrawals surrounding football stadiums on the day of the match. I can also learn what team they support.” […]
“As an example, we know that a certain percentage of women between 25 and 35 have a coffee ‘here’ before going to your store, so maybe you should do a promotion there,” Bressan said.
The profiling also happens at a business level, which facilitates lending decisions for the bank:
“We can understand payment behaviour at a Spanish level thanks to what these sensors are measuring,” Analysing POS data in this way has given unparalleled insight into how different retailers and retail districts are performing. […] “Thanks to considerations like that one, we are currently giving 4 per cent more credit to small and medium business in Spain with zero per cent increased default rate, looking at evidence-based payment data,” Bressan said. […] Shop owners can compare their performance to others within their same category to determine how well they are performing against the market across different demographic categories.
The data can also be used at city level to “maximise the commercial impact” of public events:
In one study for Madrid’s Gay Pride Week parade, BBVA examined POS data and compared it to regular activity in that neighbourhood. The bank then worked with municipal authorities to determine a more optimal route for the parade to maximise its commercial impact.
BBVA has opened up to external developers, which are creating totally unexpected apps on top of the data:
Bressan said many of these apps were ideas BBVA would never have thought of itself, such as a personal organisation app that advised people of the best time to join queues for tourist attractions based on POS data collected from those locations. Another application could analyse multiple data points to determine the best place for retailers to open new stores.
Bottom line is, thanks to the data it owns, BBVA is “going into a completely different business which is selling information based on our data”. And unlike last year when there was a big backlash when ING said they would use customer data, the benefits seem to surpass the privacy concerns this time.
Full article (which you’ve now almost read entirely)
Glimpses of life with robots
Sony's robotic dogs are dying a slow and heartbreaking death
The computer will see you now
Robot Writers Working with Le Monde
Pole dancing robots (2012)
Further proof Jon Stewart is America's best news commentator
Jon Stewart, who will be missed when he retires from the Daily Show after August 6th, commenting on the recent Charleston Church shooting, pointing to the fact that Americans seem to take racist killings with a fatalistic attitude, while embarking on foreign wars when the attacks are coming from islamic fanatics.
“I honestly have nothing other than just sadness once again that we have to peer into the abyss of the depraved violence that we do to each other and the nexus of a just gaping racial wound that will not heal, yet we pretend doesn’t exist. And I’m confident, though, that by acknowledging it, by staring into that and seeing it for what it is, we still won’t do jack s—. Yeah. That’s us.
And that’s the part that blows my mind. I don’t want to get into the political argument of the guns and things. But what blows my mind is the disparity of response between when we think people that are foreign are going to kill us, and us killing ourselves.
If this had been what we thought was Islamic terrorism, it would fit into our — we invaded two countries and spent trillions of dollars and thousands of American lives and now fly unmanned death machines over five or six different countries, all to keep Americans safe. We got to do whatever we can. We’ll torture people. We gotta do whatever we can to keep Americans safe.
Nine people shot in a church. What about that? “Hey, what are you gonna do? Crazy is as crazy is, right?” That’s the part that I cannot, for the life of me, wrap my head around, and you know it. You know that it’s going to go down the same path. “This is a terrible tragedy.” They’re already using the nuanced language of lack of effort for this. This is a terrorist attack. This is a violent attack on the Emanuel Church in South Carolina, which is a symbol for the black community. It has stood in that part of Charleston for 100 and some years and has been attacked viciously many times, as many black churches have”.
Ideas of the week
Samsung Safety Truck makes overtaking safer
Parking your car in third person mode
New and cool stuff
Crystal, communicate with anyone, based on personality
Polamatic by Polaroid
The Alpina Gstaadt Love Suite by Kiki de Montparnasse
This week's link for parents
Disney to launch Marvel's Avengers Playmation wearable smart toys
Thank you
Did you enjoy this issue?
If you don't want these updates anymore, please unsubscribe here
If you were forwarded this newsletter and you like it, you can subscribe here
Powered by Revue