Nudging? Welcome to edition 9 of Vending Insight, a regular feature from Planet Vending that focuses on today’s cashless, connected, IoT (Internet of Things) society. There’s no product news in Vending Insight and no stories about the providers of those products. On the contrary, it’s our intention to provide those vending operators, who are hungry for information on developing technologies, with some satisfying food for thought.
This week, our Vending Insight Guest Blogger, AVA CE David Llewellyn, comments on a disquieting aspect of this fast changing world and as usual, we’ll provide our Ten Top Links that will take you to stories that have appeared across the Internet. They won’t all be about vending: in fact, we’ll steer you, through these stories, in the direction the world is heading. We hope that Vending Insight will inspire you to investigate how to apply the features of cashless payments, data collection and connectivity to the advantage of your vending business.
Note to HM Treasury: Were On The Road To Cashless, So Why Accelerate The Process? (Planet Vending)
Following a call for evidence about digital payments from HM Treasury, David Llewellyn, CE of the AVA, citing examples on intervention elsewhere in Europe, argues that the move to cashless vending should be allowed to remain organic, rather than made the target of legislation. It’s an alternative take on data and it’s HERE
From The Internet
Nudging: The Cashless Society Is A Con – And Big Finance Is Behind It (The Guardian)
Another point of view that expresses the worry that we’re being ushered into a future we won’t much like… According to Guardian journalist Brett Scott, we are ‘much more likely to “choose” a digital option if the banks deliberately make it harder for us to choose a non-digital option. In behavioural economics this is referred to as nudging. If a powerful institution wants to make people choose a certain thing, the best strategy is to make it difficult to choose the alternative. Ouch? HERE
Nudging: Proceed to Cashless Society With Great Caution (Sputnik News)
If all of our wealth becomes visible to us on a computer screen, doesn’t that mean that it is also visible to a government agency? Do we surrender any concept of privacy once we go totally digital? Big Brother is watching us, from HERE
Alexa, Are You A Spy? Israeli Startup Raises $12.5 Million So Governments Can Hack IoT (Forbes)
Imagine a terrorist had taken hostages in a closed space. As the SWAT team approached, the agents, instead of bursting into the hostage space blind, could hack into connected devices beyond the walls to gain visual or audio in the room. But what else could they hack into? Mind bending stuff, HERE
The Power of Remarketing In the US Car Industry (Auto Remarketing)
‘The kind of data-enabled personalization and targeting that used to happen five, 10 years ago and was creepy and annoying and weird, is now not only a good thing, but it’s expected by consumers across the board. This new mindset comes at a time when the process of digital retailing is now being looked upon, as Autotrader describes it, as the ‘age of the consumer’.’ Good stuff, HERE
Amazon AI Predicts Users’ Musical Tastes Based On Playback Duration (Venturebeat.com)
When you ask Alexa to play the song ‘Hello’, how does she know if you want to hear Lionel Richie or Adele? It’s all about collaborative filtering. Learn more, HERE
Are Advertisers Guilty Of Using Tech For Tech’s Sake? (Beet TV)
We have this habit of saying, ‘because the tech exists, we should do this thing. Because I can personalize, I always must. Because I can target, I will only target the people I think I care about – until they hate me.’ What’s your view? Look HERE
The Brilliant Ways In Which Kimberly-Clark Uses Big Data, IoT & AI (Forbes)
As an industry leader, Kimberly-Clark is committed to driving digital innovations to improve operations and customer experiences in the fast-moving consumer goods category. Here are a few ways Kimberly-Clark is using big data, the Internet of Things (IoT) and artificial intelligence (AI) in their operations. Not to be sneezed at, and HERE.
Why Companies Can’t Afford To Miss The IoT Bus (Geospatial World)
As location becomes one of the most important components of everything from targeted advertising to delivering services to navigation, the increasing reliance on location technology in would provide an imperative for the adoption of IoT.
China’s central bank regulates forced cashless payment (ECNS.CN)
China’s central bank is taking measures to ban business practices of refusing or discriminating against cash payments to deal with over-hype of a cashless society. Refusal to accept cash ‘harms the legal status of the Chinese yuan as well as consumers’ rights to choose means of payment’. Organisations have just a month to comply… HERE
Successful participation of the IoT Large-Scale Pilots Programme at the IoT Week in Bilbao
Internet of Things (IoT) week in Bilbao gathered over 900 experts, innovators, industry leaders and stakeholders in the field of IoT and allowed them to discover the latest innovations from the world of digital economy. Review, HERE