With a population of over 7.5 billion, there is no force on this planet more powerful than the human race. When enough people ban together, anything can happen; there is no problem that cannot be solved, and no task that cannot be accomplished.
That is the power of the crowd.
It All Surged Forward With the Internet
The Internet is the place where the global crowd came to the forefront of modern society. It started the near instantaneous connection between people all over the world. Using the Internet as a method of information exchange, the crowd has managed to affect so many facets of society.
It should come as no surprise then that innovators, businesses and countless other organizations have come to realize that the crowd holds the answers to many of the issues they have struggled with over the years. Whether these issues involve new products, refining services, creating new technology, or any other type of innovation, it’s the crowd that provide the solutions. This concept has expanded to nearly every facet of business and society. This is how the crowd is changing nearly everything we do?
The Labor Market
The global crowd has had its fair share of impact on the labor market. The evidence of this lies within the new gig economy. Freelancers have taken over as one of the primary sources of labor. Businesses and organizations are moving projects to crowd-based platforms where anyone can take on the work. This has created a gig market that is changing the way work is done, and businesses are outsourcing employment more as the years go by.
In the realm of social media, the crowd takes a seat as the both the product and the producer of the content. Every major social media website (Facebook, Twitter, Instagram, etc.) is nothing more than a framework, a place where people can visit, but the site’s themselves inherently have no content. The content on these websites is produced by the crowd, the people who use them, and, simultaneously, the people then become the product social media sites use to sell to advertisers.
Even innovation is feeling the power of the crowd. Open innovation is a newer concept that has companies looking to the crows to provide solutions for their greatest issues and challenges, and these organizations are feeling the effects. Open innovation and crowdsource solutions are providing more solutions that are more diverse, and they are finding even greater success when compared to using traditional innovation methods. The crowd has accomplished things that internal innovation departments across so many industries have struggled to do for years. Not only are they accomplishing more, they are also doing it faster and for far less investment.
In short, the crowd holds the keys to the future of the global innovation marketplace, and organizations need to embrace its potential to keep up in a fast-moving and ever-evolving global marketplace of ideas.