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Power of Crowd in Today's Technology
Power of Crowd in Today's Technology
Today’s Technology
Engr. Elmar C. Francisco
Crowd - A large group of people
Crowdsourcing is a portmanteau of
Crowd and Outsourcing
Crowdsourcing
vs Outsourcing
Crowdsourcing comes from a less-
specific, more public group
Artificial Intelligence
• Accelerate Innovation
• Share Ideas
• Reinvent Business
Models
• Co-Create
• Engage Consumers or
Citizens
• Reinvent Work Models
• Save Cost
• Increase Efficiency
• Reinvent Financial
Characteristics of Models
Crowdsourcing
1. Crowd Currencies
• moderated and
balanced by the
crowd in a
distributed,
decentralized and
publicly-known
manner
• Also known as
14 Parts of the Crowd cryptocurrencies
Economy.
2. Peer-to-Peer
Lending /
Commerce
• Direct social
lending and
socialized
commerce
between people
without a
financial or retail
intermediary e.g.
FundKo
• part-owners of a
company in order
to raise funds
• The stock market
is one of the
earliest form of
equity-based
crowdfunding
3. Equity-Based
Crowdfunding
4. Non-
Equity Based
Crowdfundin
g
Usual return is a
product or service as
a “reward”
5. Sharing
Economy
sharing of human and physical
resources
e.g. carpooling
6. Co-Creation
• encourage genuine
listening, sharing,
engagement and
commerce through
open, social channels
to create value
• Eg. Customer
Feedback, customer
survey forms
8. Crowd Causes
• Non-profit organizations that
engages collectively with
passionate and interested
stakeholders to raise the profile,
impact and fundraising potential
of their causes
• Eg. Change.org
• obtaining requested
labor, services,
solutions, ideas, or
content by soliciting
contributions from
groups of people,
typically online and
geographically
dispersed, rather than
via traditional
employees or suppliers
• Eg. Online jobs, dating
apps
9. Tasks and Creativity
• individuals gathering
and participating on
web-based
platform(s) and
interacting with one
another on an
ongoing basis driven
by a common, tribal
attraction for a belief,
idea, product, brand,
idea, cause or
business.
10 Online Communities • Eg. Entusiasts,
supporters of fans,
politicians
• collective action that
occurs when large
numbers of people
work independently on
a single project, often
modular in nature, that
produce shared
understandings and
outputs
(farmon.ph)
Foldscope
• optical microscope that can
be assembled from simple
components, including a
sheet of paper and a lens.
• It was developed by Manu
Prakash and designed to
cost less than US$1 to build
Issues in crowdsourcing
Security and
Data Integrity
Privacy
engr.elmar.francisco@gmail.com