Bernd Heinrichs has told UFI's Open Seminar Basel audience that the world is thinking digitally and the exhibition industry can learn from various new business models.
Heinrichs said those that do not adapt to digitalisation face an uncertain future.
"We looked into market transformations at the likes of Google and Uber and asked what their jobs will be like in three years," he added.
"Whatsapp is taking over text messaging but Tesla is already behind the curve. There are already more examples of forward thinking car
manufacturing with totally printed parts."
Heinrichs said that 'wait and see' is not paying off for businesses. "Everyone is producing data but for what? Most of the data is useful in
real time. 80 per cent only has relevance at the time."
50 per cent of the value of a car will be digital in the near future, Heinrichs commented, adding that this reflects how markets are changing.
He continued: "Google cars run on real time data. I would love an automatic car at exhibitions, and the industry can learn from models that crowd source data and insight. We can learn from the automobile industry's use of predictive maintenance and smart use of digitalisation."
Speaking about the mobile market, Heinrichs said that the cost of startup business is now far cheaper. "We are looking at how we can work with start ups and understanding how their models are changing the wider market. If you see what Cisco do in Berlin, with many people under 30-years old, you would be surprised. We recognise you need to be there from
the start to be agile - it's the same with other industries."
Heinrichs recommended that companies embrace the 'freedom of failing', and look to innovate.
