The Future for Electronic Business Systems

Major changes are occurring in the manner in which goods and services are delivered to consumers and to industry, as systems of electronic interchange are developed. Retailers, bankers, consumers, communicators, and those charged with regulating innovative exchange processes are becoming increasingly interested in understanding the effects of such technolo~cal changes. Under the auspices of Project CABLE (funded by the National Science Foundation) at the University of Michigan, more than 250 in-depth interviews with executives of major financial and retailing institutions were conducted, and current literature was reviewed, in an effort to evaluate the use, acceptance, and impact of new mediums of exchange. The research concentrated on two types of electronic interchange between buyer and seller: teleshopping for goods and electronic transfer of funds. 1