Transforming value of the smartphone

The smartphone’s value is undergoing a dramatic change – from a device facilitating various consumer functions like communicating, computing, internet access, e-wallet, camera, apps interface and such others such to a data mother lode – a source of millions of data points collected on it.

Couple that with the fact that data is the fuel for machine learning. And we are increasingly using more and more of its smart applications in our daily life.

Health patterns – and I am not just refering here to the physical ones but also the ones related to emotional well being, consumer behaviour – purchase, payments, entertainment, travel and transport as well as various day to day activities – As an extended human digital footprint, the mobile phone is morphing into a treasure trove for businesses.

Businesses subsequently strive to develop and sell products and services which we are increasingly likely to purchase – products and services basis insights garnered from the data that we have provided FOC.

Put this with this market prediction backdrop – As per market researcher App Annie’s 2017 predictions, “the gross mobile app spend, incuding app store spend and advertising spend, will hit $166 billion in 2017”.

A wishful thought – why don’t we get the smartphones subsidized by the app economy major stakeholders who mine the consumer data.

Or is it too wild an idea ? Let me know!

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