2020 MIT Platform Report emphasizes stress tests, growth opportunities

In 2020, rising demand for telehealth services because of COVID-19 focused attention on a platform revolution in health care. Elsewhere, some platforms saw business explode during the pandemic, while others had to pivot to adapt to changing circumstances and the economic downturn.

Platform stress tests and opportunities for growth were the focus of the MIT Initiative on the Digital Economy’s 2020 Platform Strategy Summit, an annual gathering of platform experts and business leaders.

A report on the summit outlines key trends and insights, including the future of platform hiring; how “super apps,” or apps that combine several mobile experiences, could be the next big thing; requirements for platform success; and insights from leaders at Siemens, Intuit, and Ping An Insurance Group of China.  

Three takeaways:

1. Platforms will become more resilient thanks to ecosystem design and network effects.
2. When production takes place largely outside the firm, businesses become adept at working with a diverse set of changing partners.
3. The “agility advantage” allows platforms to more swiftly switch to new partners and new customers when the need arises. The report is available to download now.