Digital Marketplaces for Knowledge Intensive Assets Monetizing and Sharing at Scale

This book on digital marketplaces primarily focuses on Knowledge Intensive Assets (KIAs) such as data, insights, models, digital twins, APIs, software applications, courseware, advertisements, games, and entertainment. KIAs are becoming significant in the world of trading and monetization. Marketplaces dealing with KIAs are just evolving, but they show the promise of notable growth rate. The steps to manage the trade of the KIAs—product validation, acquisition, pricing, and delivery—present challenges that are different than those of traditional commodities. The contents of this book present unique value in today's data- and AI-driven economy as all industry sectors are having to handle KIAs.   This book provides a detailed look at the challenges and opportunities of marketplaces, especially those dealing with KIAs. As a compendium of marketplace functions, including monetization models and analysis of specific marketplace players, the contents of this book will be beneficial for industry practitioners, researchers, and business executives.
 
The topics discussed include:

• Description of a broad spectrum of KIA products and their emerging market value
• Challenges in managing the KIA marketplaces
• Technology trends that support marketplace business
• The socio-economic impact of digital marketplaces

CHERANELLORE VASUDEVAN is currently working as a Senior Technical Staff Member (STSM) at the IBM Global Chief Data Office (GCDO) with a focus on technical vitality and marketplace strategy. He has over 35 years of industry experience covering stints in research, development, technology strategy, and professional services. Vasudevan is a Member of the IBM Academy of Technology and is an IBM Master Inventor with over 60 U.S. patents to his credit. He also serves on the Data and AI Core Team of the IBM Academy of Technology. RANJAN SINHA is an IBM Fellow, Vice President, and Chief Technology Officer for the IBM Global Chief Data Office. He leads the data and platform strategy, engineering, and is on the front lines of transforming IBM into an AI enterprise. He guides IBM's clients to navigate and accelerate their data and AI transformation journeys. He is a seasoned technical leader, building and operating data and AI platforms and solutions from inception to production. Prior to IBM, he was at eBay Marketplaces, where he contributed to several business-impacting innovations. Roger E. Sanders is a Principal Sales Enablement & Skills Content Specialist at IBM. He has worked with Db2 (formerly DB2 for Linux, UNIX, and Windows) since it was first introduced on the IBM PC (1991) and is the author of 26 books on relational database technology (25 on Db2; one on ODBC). For 10 years he authored the “ Distributed DBA” column in IBM Data Magazine, and he has written articles for publications like Certification Magazine, Database Trends and Applications, and IDUG Solutions Journal (the official magazine of the International Db2 User's Group).

Contents Acknowledgments vii Preface ix Chapter 1: Introduction 1 Knowledge Intensive Assets (KIAs) 1 What Is a Marketplace? 2 Marketplace Economy 3 About This Book 3 Chapter 2: The Emergence of Commerce 5 Introduction 5 The Beginnings of Trade 6 The Modern Marketplaces 7 Marketplace Models 8 Disruptive Marketplaces 10 Recap 11 Chapter 3: Technology for Digital Commerce and Platforms 13 Introduction 13 The Internet 13 Cloud Computing 14 Digital Payments 15 Metaverse 16 Current Major Marketplace Players 18 Recap 24 Chapter 4: Knowledge Intensive Assets (KIAs) for Trading 25 Introduction 25 Data Sets 26 AI Models 32 Application Program Interfaces (APIs) 43 Software Modules 46 Digital Twins 46 iv • Contents Engineering Designs, Drawings, and Manuals 50 Media Entertainment Products 51 Games 54 Jobs56 Social Business and Personal Communication 59 Photos, Images, Illustrations 63 Non-Fungible Tokens (NFTs) 67 Courseware, Knowledge Repositories, Templates 68 Digital Ads and Promotions 73 Ecosystem Playgrounds for KIAs 74 Recap 76 Chapter 5: Marketplace Functions for KIA Assets 77 Introduction 77 Vendor Development 77 Display of Products/Catalogs 78 Pricing and Price Policies 82 Payments 85 Incentives and Royalties 88 Order Management 89 Shipping and Delivery 90 After-Sales (aka Post-Sales) Service 93 User Experience 93 Financing 93 Customizations and Personalization 94 Ratings, Reviews, and Recommendations 96 Advertising 97 Marketplace Data Analytics 97 Recap 99 Chapter 6: Revenue Models for KIA Marketplaces 103 Introduction 103 Outright Sales 104 Subscription Fee 104 Pay-as-You-Use 105 Membership Fees 105 Barter System 106 Donations for Public or Free Offerings 107 Contents • v Associated Services: Tools, Consulting, Training 108 Advertisements 109 Financing: Credit Cards, Gift Cards, Long-Term Credits 110 Leasing 111 Committed Spends 112 Marketplace KPIs 113 Recap 114 Chapter 7: Automation and Scaling of KIA Marketplaces 115 Introduction 115 Automation Is the Key to Scaling 115 Quality and Privacy of KIAs in Marketplaces 117 Securing KIA Assets in Marketplaces 120 Importance and Challenges for Data Distribution and Sharing 122 Making the KIA Marketplaces User-Friendly 124 Life Cycle Management of KIA Assets 126 Ecosystem Around KIA Assets 126 Chapter 8: Negotiations 131 Advertising 132 Co-selling and Upselling in KIA Marketplaces 132 Can KIA Marketplaces Include Conventional Physical Products? 132 Recap 132 Chapter 9: Social Impacts of KIA Marketplaces 133 Introduction 133 Social Interactions 133 Democratization of Asset Building, Ownership, and Trading 134 Economic Impacts 135 Ease of Transactions 135 Jobs136 New Economies 137 Recap 137 Chapter 10: KIA Marketplaces: Building It Right, Challenges Beyond the Business and Technology 139 Introduction 139 Cultural Impact 142 Restrictions on Types of Consumption and Usage 143 Liability Considerations 144 Vendor Certification 144 Ethical Considerations 145 Recap 145 Chapter 11: KIA Marketplaces: Trends and Future Directions 147 Introduction 147 What Are Successful Use Case Scenarios? 148 What Are the Ethical Considerations? 148 What Are the Trends? 152 Recap 153 Glossary 155 References 159