Founder and Advisor in InnoCentive
Wisdom of crowds as Mob Mentality
Bingham discusses the concepts of “Mob Mentality” and “Wisdom of Crowds”. He describes the business model of his company and the objectives that made InnoCentive choose this particular business model, and how it enables them to take the actual demand and track it with the talent without wasting too much money. Bingham talks about the mechanisms used by InnoCentive to gather crowd intelligence and the “InnoCentive Solution”. He talks about the “solvers” and how they are not the usually people you would recruit or look for to solve certain problems. He explains serial and parallel processing, and then gives an answer to the question “where does crowd intelligence come from?” He discusses the three “ities”: diversity, marginality and serendipity. To finish his talk, Bingham explains the way we solve problems as individuals and how thanks to the cloud, we can put together abilities needed to solve a particular problem.
Web 2.0: InnocentiveFirstly, he talks about the importance of problems nature and viable solutions, especially referring to the applied and life sciences. Reviews the history of the Web 0.1., 1.0, 2.0 and reaches the impact of Internet on pharmaceuticals. Presents challenges solved by Internet and how it can be extended beyond the pharmaceutical industry. Presents the difficulty of achieving the less developed regions, problems related with cost and, most important challenge, highlights the culture. Debates the ratio of the challenges at its cost, prices of use and the transparency of the flow of money. To conclude, he provides solutions that come from consultancies, individuals, etc.