It is understandable why companies are prioritizing their own operations and customers. Such an approach has a clearer and more direct path to value creation, and formalizing partnerships can be complex and time-consuming. Yet this strategy could introduce risks and lead to missed opportunities for greater platform ROI.
Notably, companies that prioritize partnerships and ecosystem formation could benefit from the acceleration of platform business model adoption in the tech sector and in adjacent industries. Companies in health care, insurance and finance, to name a few, are now embracing platforms to scale their reach and impact. As early movers, tech companies with more mature platform models are positioned to support, enable and derive value from businesses in other sectors that are just beginning their entrance into the platform economy.
Over the next few years, we expect tech companies to double down on their platform strategies in order to maintain the agility necessary to rapidly industrialize advancing technology, such as generative AI and edge computing, and to stay one step ahead of the ever-shifting geopolitical circumstances and regulatory requirements.