The 'Exchange of Everything' is here and it matters

Say hello to the idea economy

The technology world is chock full of TLAs, three-letter acronyms. Generally, they're conceived to make folks in cheap suits feel clever and confuse the rest of us. But ever so occasionally, they hint at something that might actually matter - both to businesses and to ordinary people.

At least, that's the sense we got when we were introduced to the idea of the 'EoE', or 'Exchange of Everything', at the GENBAND Perspectives16 summit in Orlando, Florida.

But what do those three little letters actually mean and should you care? The work of one startup highlighted at the conference suggest why you might want to.

At the event, young healthcare technology TeleMedCo gave the first public demonstration of its forthcoming product, a real-time MedTech platform powered by IBM Watson's software and utilising GENBAND's Kandy RTC (real-time communications) PaaS. It's designed to speed up the diagnosis, triage, and admission of patients in emergency rooms and other urgent facilities.

Expected to be trialled in hospitals by the end of 2016, TeleMedCo's offering is just one example of what GENBAND's David Walsh dubbed "the exchange of everything" or 'EoE' at the event.

Let's dive into some more detail.

EoE: The new acronym your business needs to know?

Walsh, the GENBAND President, CEO and Chairman, explained that these types of new technologies and ideas stand to radically improve our lives in the future - and ultimately drive more value for the organisations and enterprises that embrace them.

Underlining the importance of businesses recognising disruptive trends, he said opening the conference:

"Airbnb doesn't own a room. Uber doesn't own a car….Our lives are changing at a rapid pace. Change in our DNA, and this creates a large opportunity - the exchange of everything. These exchanges and supply chains are being built everywhere. We don't have to be physically located in a place anymore.

Where we are today - we are in the idea economy. Back in the day, a good job was steady work. We lived in an economy where we did things physically. The value was how hard you could work. The job was just to have a job. [Now] there's an unlimited value placed on ideas. All the value is being shifted to creativity - that's what's driving business value.

What we have to do is get back to using creativity to make businesses better and improve people's lives. This tidal wave is now hitting. We've got to get on it."

He expanded in a recent blog post:

"The exchange of everything – is everywhere. Whether for health or just happiness, we can buy nearly anything online, now assisted with shopping bots or service bots, embedded into social networks like Facebook, making buying easier, more fun and service more "human" when experts in high value products appear on a shopper's mobile phone while he or she is browsing in a 3D store".

GENBAND Perspectives16 is taking place from May 1st to 5th in Orlando, Florida. At the event, the company also announced a new integration with the SAP Hybris Commerce solution, which builds on an existing integration with the SAP Hybris Cloud for Customer solution.

You can hear more from the event by following #GBP16 on Twitter.