Things are changing faster than ever before.
Technology has made it easier to access the crowd’s experience, knowledge and resources.
Crowdsourcing technologies can offer services, funding, and navigation. It’s accelerating problem-solving, innovation and politics.
Speed is critical in the modern digital economy.
Many large companies are too slow.
Crowdsourcing Week developed the Hyperloop Innovation to showcase the essence of embracing talent on demand.
Innovation is no longer an isolated aspect of any company. Every business must pioneer its journey towards innovation.
Crowdsourcing makes it easier and faster to be innovative because it’s bigger than a movement.
The new DNA of the society in the physical and digital world in the future will be crowdsourcing.
Today, fear and scarcity are driving the global economy despite the mindsets being lethal for the society at large. However, crowdsourcing can be the driver of every human on the face of the earth towards their general wellbeing.
All it takes is looking to the crowd for supply to meet demand.
Most crowdsourcing platforms have deployed challenges that users can take part in as often as they want to engage them. The participants are exposed to varied problems.
Crowdsourcing is all about talents, passions, tangible resources, and skills.
Maia Weinstock, the creator of Women of NASA, developed a LEGO toy that inspired a new generation and her invention sold out on Amazon in just a couple of months earlier in the year.
Maia is a science journalist and currently MIT News’ deputy editor.
What other possibilities are available with crowdsourcing?
If you have a rough idea or concept that needs polishing or flushing out, or a problem that needs a solution, crowdsourcing is the way to go.
Crowdsourcing is the facilitation of talents, passions, tangible resources, and skills through high tech platforms. It occurs at all levels across different industries.
Growing connectivity has made it easier to collectively mobilize and contribute time, ideas, funds or expertise from individuals to support causes or projects. This is what defines crowdsourcing.
In the increasingly-connected world, the human-centric future will be about co-creation and participation.
Established business models are finding it hard to adapt to crowdsourcing, which has redefined how companies work. This is attributed to the fact that collective mobilization provides a great chance to reinvent and rethink traditional processes.
Crowdsourcing is also known as:
- Open innovation
Crowdsourcing is a new work process of sourcing people in crowds to perform a task usually done by a single contractor or employees. The main categories of crowdsourcing include:
- Macrotasks such as the X-Prize
- Microtasks as in Amazon’s Mechanical Turk
- Crowd contests as in 99designs
- Crowdfunding to raise funds for a project or cause as in crowdfunding sites.
Crowdsourcing continues to gain momentum as new trends come up in the industry. Here’re a few trends worth noting:
Top 5 Megatrends in Crowdsourcing that You Should Know
1) Early adoption
Crowdsourcing is a familiar term among many. However, it’s still in the phase of its early adoption.
Many people are familiar with crowdsourcing.
Only a small percentage know everything it can do.
For instance, most tech geeks are familiar with 99designs and its role in crowdsourcing. However, very few can list other roles of crowdsourcing.
Did you know that you can test your new website, build a car or even volunteer your time to a charity through crowdsourcing?
You can also outsource cyber security. For instance, you can post an identity theft problem to get likely solutions from crowds with the right talent. Crowdsourcing will provide lots of things you can adopt as solutions to the problem.
2) Curated crowds
In crowdsourcing, bigger doesn’t necessarily mean better results. The early crowdsourcing design sites days have proven this fact.
For instance, a design contest with an output of 1000 designs can easily become unmanageable. If you offer a large prize, almost anyone with some design skills is likely to make a contribution.
However, this doesn’t mean that a large crowd automatically results in poor results. There’ll be some bad designs among the good.
This means you’re likely to get many good designs to sift through but the bad ones would take up more of your time.
A curated crowd model like Genius Rocket was created to solve this issue. Although any designer can join the crowd, only those who’ve proven to be talented are allowed to participate in projects.
Another site working on a curated model is LogoTournament.
3) Standardization of crowdsourcing
Crowdsourcing is an undefined space, hence not an industry.
Crowdsourcing leaders are working to standardize and define the space. Players can discuss what’s happening in groups like Crowdsortium.
The former has been pushing for the creation of a trade association and is currently discussing it publicly. The leaders are trying to define the crowdsourcing taxonomy officially.
All the efforts being made to standardize crowdsourcing are aimed at fostering a healthy future.
4) Quality Improvements
More crowdsourcing platforms are increasingly adopting microtasking. This is due to the success resulting from deployment of the basic input/output model typical of MTurk and adding another quality control level.
MTurk sometimes provide less than correct results.
Due to no extra expense involved, people will increasingly demand for 99.9% to 100% accuracy.
5) Corporate acceptance
Crowdsourcing isn’t a fad; it’s enjoying great corporate acceptance.
Several Fortune 100 companies have taken action to adopt crowdsourcing with General Electric taking the lead. The company has several open multi-million dollar innovation projects.
Other large companies running crowdsourcing projects include:
- Procter & Gamble
- General Motors
Amazon runs one of the largest crowdsourcing platforms, MTurk.
Large corporations usually don’t implement new processes fast. But, the few that stepped into crowdsourcing will make it easier for other Fortune 100 companies to join the league.
Similarly, smaller companies will follow suit.