457. Proximity: Redefining Business and Innovation in a Digital Age

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

In this episode of The Brainy Business podcast, host Melina Palmer welcomes Dr. Rob Wolcott and Kaihan Krippendorff, co-authors of the book Proximity. Rob, an adjunct professor of Innovation at both the Booth School of Business and Kellogg School of Management, and Kaihan, the CEO of Outthinker Networks, delve into the concept of proximity and its transformative potential across industries.

The discussion begins with the origins of the book, inspired by a tech conference and further catalyzed during a 24-hour summit amid the COVID-19 pandemic. They explore how digital advancements enable value creation closer to the moment of demand, impacting various sectors from healthcare to energy. Rob and Kaihan share insights on the future trajectory of industries as they move toward a more proximate model, highlighting examples such as generative AI, 3D printing, and innovative pharmaceutical production.

In this episode:

• Understand how proximity is reshaping industries by enabling value creation closer to the moment of demand.
• Explore practical examples including video streaming, on-demand pharmaceuticals, and 3D-printed drones.
• Learn about the implications of proximity for legacy brands and how they can leverage existing assets while innovating.
• Discover the potential of proximity in future technologies, including virtual reality and space exploration.
• Gain insights into the strategic opportunities proximity presents for businesses to become more responsive and efficient.

Show Notes:

00:00:00 - Introduction Melina Palmer introduces the topic of proximity and today's guests, Dr. Rob Wolcott and Kaihan Krippendorff.

00:03:45 - Background on Rob Wolcott Rob shares his extensive experience in innovation and entrepreneurship, highlighting his roles at various institutions.

00:06:30 - Background on Kaihan Krippendorff Kaihan discusses his work with Outthinker Networks and his approach to innovation in large enterprises.

00:10:50 - The Concept of Proximity Rob and Kaihan explain the genesis of their book and the significance of proximity in the digital age.

00:18:15 - Examples of Proximity in Action Discussion on how proximity is changing industries such as pharmaceuticals and energy.

00:30:00 - Implications for Legacy Brands Strategies for established companies to adapt and thrive in a proximate world.

00:40:10 - The Future of Proximity The role of proximity in virtual reality and space exploration.

00:42:15 - Conclusion What stuck with you while listening to the episode? What are you going to try? Come share it with Melina on social media -- you'll find her as @thebrainybiz everywhere and as Melina Palmer on LinkedIn.

Thanks for listening. Don’t forget to subscribe on Apple Podcasts or Android. If you like what you heard, please leave a review on iTunes and share what you liked about the show.

I hope you love everything recommended via The Brainy Business! Everything was independently reviewed and selected by me, Melina Palmer. So you know, as an Amazon Associate I earn from qualifying purchases. That means if you decide to shop from the links on this page (via Amazon or others), The Brainy Business may collect a share of sales or other compensation.

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Get the Books Mentioned on (or related to) this Episode:

• Proximity, by Rob Wolcott and Kaihan Krippendorff
• What Your Employees Need and Can't Tell You, by Melina Palmer
• A More Beautiful Question, by Warren Berger
• Designing for Behavior Change, by Stephen Wendel
• Engaged, by Amy Bucher

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