Reflective blog to my learning of BEMM129 Digital Business Models

What makes BEMM129 more practical and attractive to me?

BEMM129 has been fascinating throughout the semester as it applies a creative way of helping me to understand the digital world. The better way of realising the digital business models is to put ourselves into the digital world by using internet, working as a netizen and talking to others.

My comments and learning to others.

MOOC is truly a useful learning approach and I have found that AI technology is an intriguing topic from a theme called ‘Building your career in tomorrow’s workplace’. This topic motivated me to understand in what way AI is changing our daily life and it will definitely be the main tendency of future development.

Firstly, while reading Liu Tian Yi’s first blog, it was blowing my mind with the presence of big data technology and machine learning, and I was thinking that it is just about data storage. However, its functionality is more than that and could be related to AI technology and digital transformation. Basically, it intelligently simplifies the process, such as people using particular app to track the outbreak of Covid-19 in Seoul. The more complicated the business process is likely to be, the more frequent the Big data and machine learning could be used. Ysheir is my account name and I was a bit concerned about privacy issues and curious of any business fields which can use big data technology. After that, Liu Tian Yi gave me a detailed answer about my concern and curiosity. I assure that Big data technology also can be related to AI kitchen which was the topic of my first blog.

This screenshot shows my comment to Liu Tian Yi’s Blog about automated credit approval process

Secondly, I have learned a lot from Ye Zhang George, such as I noticed that soft skills are needed even the future will be changed by ‘IoT’ and AI will become more intelligent. He also mentioned sharing economy which is surprisingly linked to his second blog ‘Mobike’. This really motivates me to create an effective blog post. However, importantly, we have common sense of the importance of emotional interaction in spite of driverless cars will eventually appear in the future. What I can see is that IoT has successfully changed traditional industries.

this screenshot shows my comment to Ye Zhang George’s first blog post about Uber.

On the other hand, after reading the blog post of Mobike, I noticed that sharing economy is related to environmental aspects and well-being of mankind. Importantly, I had a better understanding of distinguishing the difference of circular economy and sharing economy with the case of Mobike. Sharing economy means people own their private assets and share it, but circular economy means assets are not privately owned, and it is environmentally friendly and durable for long-term goal. I also can see the weakness of developing businesses relating to circular economy in different countries, in other words, the way we live is different.

This screenshot shows my comment to Ye Zhang George’s blog post about Mobike.

Thirdly, I have a better knowledge of free-freemium business model, and realized that we are not considering only the digital business models itself, but it is decided and affected by external factors, such as political and cultural factors.

This screenshot shows my comment to Mark’s blog post about Tencent.

Consequently, I summarized five things which are prone to be important to my learning and what I would like to consider for my future career. Those are Big data, AI (machine learning), IoT, Circular and sharing economy, and external factors. By considering those factors, it helps me to build an appropriate digital business model in terms of my digital businesses.