Next up on the Silicon Valley agenda: ‘Life Resource Planning’
Google’s recent $3.2 billion acquisition of software-enabled thermostat and smoke detector provider Nest clearly diverged from the path of large consumer social platform exits such as Facebook, Tumblr, Instagram and Twitter, which have dominated consumer venture exits over the past few years.
Nest is associated with the “Internet of Things” (IoT) trend, which sits under the umbrella of a larger wave of innovation that I call “LifeTech” – products and services that optimize, personalize and automate our lives as consumers to create a smart world that shifts and responds to our needs.
LifeTech is desperately needed by those of us who live and breathe in the digital fire hose. Increasingly, more data demonstrates that a majority of consumers don’t believe they have enough time to get everything done. One Gallup Poll study shows that working Americans between the ages of 30-49 are the most likely to report that they lack the time they need. Consumers have multiple devices (mobile phones, tablets, laptops, and so on), an overwhelming number of apps to select from, and a world of disparate digital and analog tools complicating things instead of making it better.
Life is complex and busy, and irrelevant digital noise doesn’t help. LifeTech technologies will enable consumers to accomplish everything they need (and want) to do in their lives.
When I think about some of the innovation that has taken place in the enterprise, Enterprise Resource Planning (ERP) technologies helped companies optimize their work environment across a number of different areas, including finance, accounting, operations, and inventory management. Consumers now need Life Resource Planning (LRP) to optimize their lives not only with home device controls, but also with the various functional areas of life, including activity planning and commerce.