Samsung Says Businesses Have Three Years to Adapt to the 'Open Economy'

LONDON, February 16, 2017 /PRNewswire/ --

A new report commissioned by Samsung reveals businesses will need to invest to ensure they're ready for the next wave of the digital revolution  

A new report commissioned by Samsung reveals that by 2020 companies which have not opened their borders to competitors, innovators and a new generation of independent freelancers will struggle to prosper in what Samsung calls the 'Open Economy' . 

Web video: https://www.youtube.com/user/SamsungAtWork

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This new Open Economy will be characterised by a deep use of freelance workers, routine embedding of startup driven innovation and a new kind of collaboration between former competitors.

Over the last decade, thanks to the ubiquity of mobile technology, businesses have become more open and collaborative and have a clear understanding of the benefits compared to existing 'closed' business models. However, within just three years, organisations will be operating in a world much less restricted by technical or human boundaries. People, data and ideas will be integrated into current business models more freely, yet it will be crucial for businesses to get to grips with, and fully embrace, the agile technologies and expectations of tomorrow's work culture.

To thrive in this world of new technologies and highly dispersed digital workforces, companies will need to embrace security platforms which will allow them to share information openly but safely. This in turn will force them to fundamentally rethink how they build their business models and the technologies they depend on.

"Finding ways to safely empower new waves of future freelance workers is going to be the number one business challenge. Within three years, it's expected that businesses will have to deal with over 7.3 billion connected devices^[1], whilst a rapidly digitised and changing workforce will evolve to one that will transform businesses in how, where and when they operate," says Nick Dawson, Global Director Knox Strategy.