The Situation

There are drivers creating the need to coordinate digitalisation in many economic sectors. Digitalisation allows for ecosystems to extensively share information among the computers of the ecosystem participants. These drivers are culminating in there being more stakeholders, using more assets that each require more decisions about their planning and their operation. This is a multi-dimensional and expanding universe that is trending to information and decisions being needed in closer and closer to ‘real-time’.

The consequence is an extreme and rapidly growing need to enable well-governed information sharing and decision-making between different combinations of people, devices and widgets. This is at least trillions of individual ‘quanta’ of information, many of which depend on one another, leading to extreme complexity.

We therefore need to design a structurally new set of capabilities as people, as participants in massive economic systems and as the architects of those systems. We require capabilities that make it possible for us to manage the sheer volume of complex and time-pressured decisions using trustworthy information - we need easy data for our computers so that they can help us.

If you’re interested in learning more about the underlying drivers, I recommend reading Appendix 1 of the governance review that I wrote for the UK Energy Digitalisation Taskforce. This article assumes that the need for new capabilities is agreed.

Who is this for?

Industry managers who need to make decisions this year about what direction to take for their business investments.
Professionals who work every day prioritising what changes to make to our economic systems, such as people who work in public/private policy roles, economists, innovators, entrepreneurs, engineering designers, analysts and many more.
Practitioners who are putting their efforts into creating and developing processes to run their business unit who have to work within the constraints of today’s market design and current business norms/practices.
Researchers who have expertise in specific disciplines who can validate methods and progress best practice.
Individuals, who want to have their say because while it may not always be obvious, the architectural design of economic systems has a dramatic impact on all of our lives.

Definitions of terms

TopLevelConcepts.mp3

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