The power of crowds: Grand challenges in the Asia-Pacific region.

Technology is enabling organizations across the globe – large and small, for-profit and not-for-profit, governments and scientific groups – to harness the resources, knowledge, talent and creativity of crowds, in their effort to find innovative solutions to vexing problems. As contributors to solving grand challenges, crowds are providing data and funds, generating novel ideas and evaluating and developing concrete solutions. This article proposes a conceptual model for understanding the utility of crowdsourcing in the context of grand challenges. The article further identifies some boundary conditions where crowdsourcing may not be useful and discusses significant barriers to applying crowdsourcing in the Asia-Pacific region. We conclude by recognizing some empirical considerations and avenues for future research. JEL Classification: O31, O35 [ABSTRACT FROM AUTHOR]