AIIA shares the opportunity for Australia to be a Major Player on the World Stage - through Technology

It’s an exciting time to be on the technology and innovation space in Australia and the AIIA have prepared an 83 page report suggesting a roadmap of how Government can support the #nexttechrevolution.

The importance of Learning, Reskilling and Upskilling is weaved throughout this whitepaper 

The Opportunity 

Investment in innovation and technology  is giving us - as a nation -  a transformative opportunity that is a game changer - and for us to take advantage of this - we need to change our mindset and change the way we and others view us - With  our size location a strategic advantage! 

We need to not only focus on the research and R&D - but also on the commercialisation of the technologies and research that we undertake! 

Those that drive technology innovation and commercialisation at the core of their strategies will win and it is key for Australian Government to continue backing tech innovation to stay ahead of the curve

We are at the start of a great trajectory 

 It is pleasing to have ScoMo (our Prime Minister) stating as a major economic and policy goal for Australia to be a leading digital economy by 2030 - with a $1.2 billion Digital Economy Strategy. 

And the NSW Government investing $2 billion in its Digital Restart Fund with Victor Dominello leading the charge !

Venture Capital investing has shown some significant returns with over 20 unicorns being created over the past few years!

It is a start - And I am sure there is a lot more to come! 

Government Support 

Government  have acknowledged that 

• Recognising that digitising the economy is critical to our national success;

• Increasing the R&D tax incentive and introducing a patent box;

• Appointing a Minister for the Digital Economy;

• Funding a National Freight Hub;

• Investment in digital skills; and

• Investing in cyber security resilience

The  AIIA suggested the areas of focusing the following areas - and this whitepaper  recommendations of what the government can do in each of these areas

• health, 
• manufacturing, 
• agriculture, and 
• digital government ; 
• AI, Quantum, digital engineering, 
• industry incentives and 
• cyber security.

(mining and oil and gas and renewables not mentioned - not technologies as it relates to renewables )

How government is and can continue supporting the digitisation of the country

• Being intentional in supporting technology in growth areas
• Supporting  the creation of industry hubs
• incentives such as commercialisation australia and entrepreneurs programme, RDTI and export grants - supporting Australian technology innovators are supported to thrive, not just survive, through a strong shift from a research driven agenda to one of commercialisation.
• Supporting the building of skills - specifically a focus of microcredential skills and accreditation

Some of the players in the AIIA

 • Bridget Tracy, AIIA NSW Council

 • Ron Gauci, AIIA

• Ramah Sakul, SAP

• Peter Anstee, CyberCX

• Ashok Mysore, Infosys

• Kristina Kipper, KPMG

• Anna Phan, IBM

• John Mackenney, Adobe 

• Ben Peterson, IBM

• Michelle Frazer, DB Results 

• James Jackson, Accenture 

• Simon Bush, AIIA - simon@aiia.com.au.

• Dr Tim Mumford - Infrastructure Australia

• Marie Truelove - CSIRO Data-61

• Dr. Ian Oppermann - Chief Data Scientist, NSW

• Adam Beck - Smart Cities Council, Australia & New Zealand

• Dr Graeme Kernich - Frontier SI

• Teresa Scott - Australasian Procurement and

Construction Council

• Dr Tim Smyth - Adjunct Professor, University of Technology Sydney

• Jordan Griffiths, Accenture

Here is a copy of the report 

 https://aiia.com.au/wp-content/uploads/2021/08/AIIA-Growing-Globally-Competitive-Industries.pdf

Aug 21 Transformation Forum with Emma Sidney

https://www.linkedin.com/posts/ivankayebsi_nexttech-bbgforum-leadership-activity-6833884824948891649-a765

Great chat file from today 00:25:54 Alister McDonald: https://www.linkedin.com/in/emmasidney/

00:26:48 Alister McDonald: https://www.linkedin.com/in/adam-hillary/

00:28:03 Alister McDonald: https://www.linkedin.com/in/alistermcdonald/

00:34:13 Craig Saphin: Its the political uncertainty - and the start stop for businesses

00:34:33 Ivan Kaye: be sure to comment on this link  https://www.linkedin.com/posts/ivankayebsi_nexttech-bbgforum-leadership-activity-6833884824948891649-a765

00:34:36 Craig Saphin: The rapid changing needs of clients

00:35:22 Rob Nankervis: The economy in stop/start mode where businesses can't get momentum.

00:35:50 Michael Bartura: Somewhat similarly to Alister, I often reflect that the leadership that has got us here, is not the leadership that will get us though the challenges are facing nw, and even more worryingly the ones are coming up the curb…

00:36:04 Ivan Kaye: Climate Change

00:36:08 Alister McDonald: Very well put Michael

00:36:22 Alister McDonald: Thanks Craig, Rob and Ivan

00:37:27 Ivan Kaye: What are your fears? The only thing you can change is your attitude - shit i going to happen… its your choice of how you are going to handle the situation

00:37:32 Rob Nankervis: Agree with Adam about personal agency - I've been working with some clients who are flying at the moment. We have big visions and they're working towards them however they can. Making their own momentum.

00:37:46 Bill McLellan: What got us here, wont get us there - Marshall Goldsmith.  Question is what does 'there' look like.  Solving this challenge, keeps me awake at times, conjuring up a future that is purposefully agile.

00:37:51 Ivan Kaye: How to handle the client - help them change their attitude - the choice of

00:38:11 Alister McDonald: Thanks Bill

00:38:12 Ivan Kaye: Market in flux and problems - that’s where the opportunities are

00:38:31 Alister McDonald: So a New Vision and New Leadership

00:39:22 Rob Nankervis: ... and to Emma's point its been a great reminder that we never were in control of everything. Some folks were just floating along on the rising tide rather than really driving their business

00:40:33 Ivan Kaye: am putting gems on linkedin https://www.linkedin.com/posts/ivankayebsi_nexttech-bbgforum-leadership-activity-6833884824948891649-a765

00:43:14 Rob Nankervis: Classic Covey challenge - 'I haven't got time to sharpen the saw, I'm too busy sawing'.

00:43:42 Adam Hillary: Absolutely Rob

00:44:29 Ivan Kaye: 💥 Alister McDonald 💥 how important are processes - if you can systemise you can scale.... some business owners dont want to be business leaders - they just want to focus on what they do well .....  if you can tke the shit away from the entrepreneur and let them focus on what they do well.... magic will happen

00:44:50 Rob Nankervis: I also get business leaders to first focus on what to detonate before they automate. Pointless to do some something better/faster that shouldn't be done at all.

00:45:47 Ivan Kaye: Its not easy to find a partner that you can grow a business with

00:45:54 Ivan Kaye: the art of delegation

00:46:15 Ivan Kaye: welcome @ben

00:46:51 Bill McLellan: Could being kept awake at night be 'an owners attempt to view the business from the balcony'?

00:47:24 Alister McDonald: A great perspective Bill. Not conscious, however intuition’s attempt to wake us up

00:48:19 Emma Sidney - Sales and Marketing Integration: I love that idea Bill

00:49:14 Ivan Kaye: HOw invested in you in empowering your people - a key to success is to empower your team .... delegate and then jumping in to try and solve the problem - is disempowering?

00:49:33 Adam Hillary: Yes - that makes sense. That drowsy half sleep can provide insights.

00:49:42 Ivan Kaye: Who is SG?

00:49:45 Rob Nankervis: If leaders won't delegate I ask if thats because of the other person (not capable/trusted), or because of them (ie: can't let go).

00:50:02 Cassandra Parton: Growing people and providing them a career path, empowering them is more important now than ever. Hiring people is hard, but retaining people is an art. Without opportunity, growth and a culture of support and empathy, good people will leave.

00:50:44 Rob Nankervis: Great point Al - they become the bottleneck in their own bottle!

00:51:32 Alister McDonald: Absolutely Cassandra!

00:51:53 Bill McLellan: The perfect vision in  the owners head becoming the 'perfectionist' - the roadblock of so much.

00:51:56 Michael Bartura: Bottleneck…. Love that Rob.

00:51:57 Alister McDonald: Bottleneck in their own bottle … I hope you capture all the comments Ivan. There is a book in it 😊

00:53:25 Emma Sidney - Sales and Marketing Integration: Are you the bottleneck in your own bottle?

00:53:29 Emma Sidney - Sales and Marketing Integration: Perfect

00:54:07 Michael Bartura: Peter Drucker - can’t manage what you don’t measure…

00:58:38 Michael Bartura: 80/20 and so on...

00:59:03 Alister McDonald: Thanks Michael. We removed our Pareto Principle slide ;)

01:00:23 Rob Nankervis: Remarkable how few leaders actually understand profit (what they even call it) and certainly there is little insight on profit by product or customer. So often they don't really know how/where they make money.

01:02:37 Rob Nankervis: Revenue is vanity, profit is sanity, cash flow is king (Alan Miltz)

01:04:34 Adam Hillary: Thanks Rob :-)

01:05:44 Rob Nankervis: Had a client with 200 SKUs - they found that 75% of profit was from 8 of them ... and they were on the cusp of building a new factory (to make yet more unprofitable products - ouch).

01:06:36 Emma Sidney - Sales and Marketing Integration: @rob so great that you caught that!

01:11:31 Bill McLellan: Any thoughts on a definition of Innovation?

01:12:19 Michael Bartura: Proust- "The real voyage of discovery consists, not in seeking new landscapes, but in having new eyes."

01:14:26 Bill McLellan: I like that Michael,  I use  "Change that adds value"  which could mean news eyes (mindset) for the whole business.

01:14:38 Rob Nankervis: A useful driver of innovation is to have a big stretch goal that can't be achieved with current processes, people, systems. If forces new thinking, especially when constrained with metrics such as GM/Profit to be achieved.

01:17:13 Michael Bartura: Yes Rob - Michael Neill talks about ‘thinking the impossible’ as a starting point.

01:21:02 Brian Fine: in current climate, should businesses focus on reduction of overheads[strategic withdrawal] or increasing overheads to drive revenues, for ultimate increase in profits?

01:21:22 Alister McDonald: Great question Brian.

01:22:50 Ivan Kaye: https://bsi.skillsoptimiser.com/BusinessHealth/

01:22:51 Rob Nankervis: Need to understand necessary v unnecessary costs. Are the expenses 'making our boat go faster' or are they actually a waste (on product, process, people that make no difference)

01:23:28 Alister McDonald: Yes Rob!

01:23:41 Alister McDonald: And the massive shifts right now are impacting what is necessary.

01:23:53 Adam Hillary: Nice one Rob

01:23:56 Alister McDonald: How many businesses do not need to pay commercial rent right now?

01:25:09 Bill McLellan: What profit margin makes sense for businesses taking on current risks in a 'volatile environment?

01:26:23 Alister McDonald: An intricate question Bill.

01:26:58 Alister McDonald: We’re seeing an opportunity to leverage support and the derisking options available right now.

01:27:29 Alister McDonald: We have options to suspend payment of overheads, leases, mortgages, etc, while also gaining grant money.

01:27:38 Alister McDonald: With little to no recourse.

01:28:57 Rob Nankervis: To Ivan's comment: If your outgoings exceed your incomings, your upkeep is your downfall.

01:30:01 Ben Howell: Also innovating to meet changing customer needs and removing roadblocks to more sales

01:31:41 Brian Fine: why is it the people who need the most help, do not know where to find it? How does a consulting business reach out to them?

01:33:34 Alister McDonald: That’s great Ben. Many of our customers are business owners too.

01:34:49 Alister McDonald: Brian, that is a great point and so many coaches/mentors/consultants maintain themselves and their skills as a ‘best kept secret’.

01:35:46 Alister McDonald: Perhaps this group could present as a community to the business world?

01:36:44 Rob Nankervis: At the smaller end they may traditionally rely on their accountant for 'advice' Brian. In my practice I don't even try to convert people who don't realise that they need help. Hopefully they get referred to a book or talk with a friend who's taken action. Often, though, it will be action driven by crisis.

01:36:51 Michael Bartura: Alister - we have been playing with the idea of a ‘virtual firm’…

01:37:39 Alister McDonald: I suspect you are spot on Rob. When business owners are kept awake every night it becomes painful enough to do something new.

01:39:22 Rob Nankervis: Reckon we've been think tanking already!

01:39:52 Alister McDonald: Yes! Capture the chat!

01:51:48 Rob Nankervis: Competency is around 'critical asset protection' rather than just the underground assets where the idea started. Great innovation.

01:52:55 Emma Sidney - Sales and Marketing Integration: Al has his hand up

01:59:44 Brian Fine: the opportunities now are to "partner" to speed up success!

02:01:36 Emma Sidney - Sales and Marketing Integration: Yes Brian, I think one of the most key activities for growth is to see what you can fulfil without adding infrastructure, then finding a company that adds value to your offering by fulfilling on that need.

02:03:02 Alister McDonald: Social Enterprise?

02:03:16 Alister McDonald: Community Enterprise?

02:03:16 Emma Sidney - Sales and Marketing Integration: Yes Al great term

02:03:43 Rob Nankervis: Only diff with NFP/social enterprise is that the profit is not distributed - it is re-invested

02:04:13 Alister McDonald: Enterprise suggests expansion

02:06:19 Rob Nankervis: Interesting moment in time when 'for profit' enterprises are trying to be more community focused, whilst NFPs are trying to get more commercial

02:13:32 Alister McDonald: Thanks for returning :)

02:19:37 Michael Bartura: Eisenhower — “Plans are worthless, but planning is everything.”

02:19:49 Adam Hillary: Fantastic

This is why we need to take Climate Action

(The pictures are of my grandchildren Sienna and Maya)

“A 3°C future will find us wedged  between a geoengineered rock and a very hot place.” (The Economist )

Some interesting excerpts from the Economist this week

Three degrees of global warming is quite plausible and truly disastrous ( The Economist)

Science seems to be telling us that a 3°C world is a pretty likely outcome if nothing more gets done and might still happen even if things go very well indeed. 

Judging by the results of specific studies, the differences between 2°C and 3°C are, in most respects, far starker than those between 1.5°C and 2°C.

Adaptation 

Green roofs, water sprinklers and improved air-conditioning can all help. People can switch to more indoor living during the summer months. 

What of the people with no air conditioners?

The increase in the “wet-bulb” temperature

The “wet-bulb” temperature is a measure that reflects this combined effect of heat and moisture on the difficulty of keeping cool.

Once the wet-bulb temperature reaches 35°C it is barely possible to cool down, especially if exercising. Above that people start to cook.

Richard Betts, a climatologist in Britain’s Met Office who has led several surveys of the impacts of high-end global warming, says that beyond 2°C small but densely populated regions of the Indian subcontinent start to be at risk of lethal and near-lethal wet-bulb temperatures. 

Beyond 2.5°C, he says, places in “pretty much all of the tropics start to see these levels of extreme heat stress for many days, weeks or even a few months per year.”

Wet-bulb temperatures approaching or exceeding 3.5°C have been recorded, very occasionally, near the India-Pakistan border and around the Persian Gulf and the Gulf of Mexico.

Weather-station data published in 2020 showed that such extreme humid heat actually occurs more often than is recorded, mostly in very scarcely populated parts of the tropics. The study also found that its incidence had doubled since 1979.

Drought and drier conditions on 2/3 of planet

In less humid places, heat depletes water supplies. A modelling analysis of water scarcity at 1.5°C, 2°C and 3°C found that two-thirds of humanity will experience progressively drier conditions as the climate warms. At 3°C, periods of dryness currently treated as exceptional 1-in-100-year events are projected to happen every two to five years in most of Africa, Australia, southern Europe, southern and central United States, Central America, the Caribbean and parts of South America.

As a result, some modelling suggests that at 3°C more than a quarter of the world’s population would be exposed to extreme drought conditions for at least one month a year. California’s megadrought, which has affected the water supply for consumption, sanitation and irrigation as well as fuelling record-breaking fires, gives a glimpse into what this could look like for large swathes of the planet, almost all of which face far higher hurdles to adaptation than one of America’s richest states (albeit one with a high number of poor people).

Food shortages

In the summer of 2010 temperature records which had stood since the 1880s were broken in Russia, the world’s third-largest wheat producer; temperatures stayed up around 40°C for weeks. Wheat yields fell by about one-third: Russia banned exports in order to maintain its own supply. That led to price spikes on global food markets which have since been linked to civil unrest in a number of low-income countries.

Sea level rising from melting of The West Antarctic Ice Sheet

3°C world would be committed in the long run. The West Antarctic Ice Sheet, which until a decade ago was considered pretty stable, is crumbling at the edges. There is growing evidence that at around 2°C of warming it will begin to break down completely. “If that point is passed, the evidence suggests that the rate of ice loss from West Antarctica will increase dramatically,” says Nerilie Abram of the Australian National University.

Nor could the indigenous cultures of the Arctic or the rainforest survive in anything like their current form. Much of the Earth-as-was would be forgotten, as well as lost.

Adaptation 

The limits to adaptation apply to nature, too. Animal and plant species adapt to warming climates by shifting to cooler ones where possible. Already fish are on the move, some species edging away from tropical waters to temperate, others from the temperate to the chilly. Land animals unable to trek to higher latitudes can, if they live in hilly places, find respite at nearby higher altitudes instead. But these strategies only work up to a point: mountains have peaks, and the Earth has poles.

Extinction for those that can’t Adapt 

And it only works for species and ecosystems that are able to move faster than the climate warms. 

Coral reefs do not have that facility. 

They are predicted to disappear completely in a 3°C world (their boiled, bleached fate is worsened by the fact that higher carbon-dioxide levels make seawater too acidic for them). Some such failures to adapt make the world hotter still. 

The Amazon rainforest, already weakened by logging and burning, would be very unlikely to survive in such a world. In its passing it would release further gigatonnes of carbon into the atmosphere.

Is it  ok because it’s not our problem - but our children’s problem?

Will this future arrive ?
- and if so - how quickly
And more importantly 
What can we do about it

1. Recognise there is a problem - acknowledge the science
2. Identify ways to halt the rise in temperature
3. Look to adapt - (aka Branson , Musk and Bezos exploring space?) What else? 

As Einstein said 

“Insanity is doing the same thing even though you know it’s going to kill you! “

The alternative point of view 

The deniers - are they denying that temperatures will not rise to more than 3 degrees?

Or

Are they denying that if it does increase by 3 degrees it’s ok? 

It would be interesting to hear their point of view and alternative scientific studies .

Maybe forums such as the Client Action Forum can create discussions that can enable us to be aware of the science and make informed decisions and identify paths of what we can do to make this world a better place for our children. 

The ability to Choose and take Action

One of the most amazing gifts we have as a species - is that we have the ability to hope and choose. 

I choose to be hopeful, I choose to be optimistic , and I choose to be aware of what is happenning around me and “take action” to make a difference 

The Playlist of the foundations of a Climate Action Forum

https://youtube.com/playlist?list=PLXmfWBHHTgqdNopzNTaWmvpemm4-ZRy4u

I look forward to collaborating with you - with a view to find solutions to this “wicked problem” 

Remote Work - a game changer - do you agree?

Covid-19 has brought about a major positive change - remote work and a blended work environment 

According to new report by Oxfam and Catalyst (a global nonprofit that focuses on building workplaces that are equitable for women)

based on a survey of more than 7,400 employees worldwide)

"remote work options gives them the flexibility to balance childcare, home care and work and could retain women with child-care needs in the workplace

Women are 32% less likely to leave their job if they can work remotely and 

• 30% are less likely to look for another job - 
• 63% more likely to report often or always being innovative, 
• 75% more likely to report often or always being engaged;
• 68% more likely to report high organizational commitment; and 
• 93% more likely to report that they feel included.

Once remote work stops for a company - many women will be forced to quit due to a lack of child care and workplace flexibility.

A mother’s burning decision "Is my job to earn money or raise my children?" 

With remote working environments is this a decision  that does not have to be made  again?

However 

Innovation , high engagement and organizational commitment can only exist if remote work is executed properly by employers.

Protocols and systems - need to be clearly defined - with outcomes and tasks to be clearly articulated 

Time differences need to be taken into account 

The Organisation needs to operate like everyone is remotely, regardless of whether one is in the office or at home,.

 For instance, if there is an in-office conversation about a project and one employee involved in that project is working remotely - that person should be brought into the conversation! 

Remote work not only makes the workplace more equitable for women, but creates a space for everyone "regardless of gender, where you live, or what you look like - that will potentially reduce cross border pay gaps and incorporate the values of Diversity Equity and Inclusion 

The goal - to be able to advance and thrive in you career and at home.

So here’s the burning questions

Remote workers need equal recognition - can this happen ?

Can an organisation be totally remote ?

What can you do to make this happen?

Digital learning predicted to grow from 260b to 1trillion by 2026

Welcome to the #nexttechrevolution 

Major growth in digital learning - 12 takeouts! From this  article https://medium.com/gsv-ventures/dawn-of-the-age-of-digital-learning-4c4e38784226

💎 Since Internet 25 years ago - digital learning has become a $160b industry 

Before covid - (BC)they were predicting it to be 460b by 2026

After the disease (AD) - they predict it to be $1trillion (of a $7trillion marketplace )

💎 “More than 50% of the workforce is going to need to be re-skilled in the next three years.”

— David Blake, CEO of Learn In; Founder of Degreed

💎 “Employee education drives down costs for employers through increasing promotion, retention, and recruitment.”

— Rachel Carlson, Co-Founder and CEO of Guild Education

💎 With a record 30+ million people claiming unemployment in just the past 6 weeks, the Coronavirus has brought forth pressure to reskill unemployed and furloughed adults at scale. 

💎 Skills learned in the workplace will become as important, if not more so, than a university degree and carry more weight in a worker’s career prospects. 

💎 Peer-to-Peer — studies have shown that the best way to learn a subject is to teach somebody else. There will be a rise in peer-to-peer collaboration and learning through community-based platforms. (#bbgforum) 

💎 Collaboration between higher education and corporations will grow - with universities’ curriculums more aligned with business skills

💎 man universities will not survive  financially

💎 higher Ed will grow from 207M today to 414M by 2030

💎 Learning will become even more continuous and lifelong. No longer will you fill up your “knowledge tank” in 5 years at Uni and take off, you will be continuously refueling over the course of your lifetime.

💎 Digitization of live learning experiences (i.e. conferences, forums, seminars, - augmented by other ways to demonstrate capability such as with certificates, badges, and other “Knowledge Currency”.

The degree will no longer the sole ticket for career opportunity

💎 Rise of“whole self” education…focused on mind, body, and soul — meditation, cooking, health, fitness, etc

$800m Grants available for Manufacturing Transformation Projects

The $800 million federal government’s modern manufacturing initiative has opened , with grants of up to $200 million for large “transformation” projects to be accepted from next month – and the Prime Minister Scott Morrison to have the final say on approvals.

The  grants offer between $20 million and $200 million to cover up to a third of the costs of eligible large-scale projects.

The large manufacturing projects include collaboration

Projects must include business-to-business or business-to-research collaboration, according to the guidelines, which say collaborations can range from joint ventures and shared facilities to even “informal collaborative interactions such as networking and discussing and sharing ideas and information”.

Objectives :- 

•  to achieve scale, become more competitive, 
• to create new jobs and help to upskill the Australian manufacturing workforce.

The federal government will fund up to a third of successful projects, and other federal government funding sources and state programs can be used for up to 65 per cent, but at least 35 per cent must be from a non-government source.

Projects must be large scale – at least $60 million in eligible expenditure – and be completed by March 2024. It must also be part of the government’s six priority areas – 

space, 

• medical products,
•  resources and critical minerals, 
• food and beverage,
•  Defence, and 
• recycling and clean energy 

and show potential to expand or promote interstate or international trade.

Equal weighting will be given to applicants’ projects alignment with the priority sectors, benefit to Australia, capacity to deliver the project and access to finance. The assessment and negotiation process is expected to take up to 19 weeks.

Industry Innovation and Science Australia will review applications and advise the Minister for Industry, Science and Technology, currently Christian Porter, who will recommend projects to the Prime Minister for a final decision.

The Prime Minister will also be able to impose specific conditions on grants, according to the guidelines.

Industry Innovation and Science Australia’s current board members are:

• Andrew Stevens (chair), non-executive director (various)
• Dr Cathy Foley, Australian Government chief scientist
• Prof Raoul Mortley, dean, Bond University
• Prof Elanor Huntington, dean engineering and computer science, ANU
• Patrick Houlihan, DuluxGroup chief executive
• Lauren Stafford, Woodside Energy innovation partnerships manager
• Scott Farrell, King & Wood Mallesons partner
• Dr Alex Grant, Myriota chief executive
• Sarah Nolet, AgThentic funder and chief executive
• Glenys Beauchamp PSM, non-executive director (various)
• David Fredericks PSM (ex officio) secretary, Dept of Industry

Grants will be accepted from August 11 and will applications will close September 9.

Buying a car - how important is the in-vehicle experience rather than the driving experience?

The autonomy, connectivity, electrification, and vehicle sharing which have seen over $100 billion  in disclosed external investments in the past 10 years 

The market is expected to grow to  $6.6 trillion in 2030 from $3.5 trillion today, and traditional technologies and business models are expected to decline from 98 percent of the market today to 50 percent in 2030. (With revenue coming from data collection !)

To remain competitive in an increasingly crowded and fast-moving space, incumbent auto companies will need to fundamentally reinvent both their product and technology offerings and their business models.

Driving experience is key - it’s all about the customer - and sound quality will play a major part - along with automatic searches; concierge services, including the ability to make reservations; and advanced payment for parking are all examples of promising use cases for consumer-direct monetization opportunities.

Infotainment, UI and cloud content will have a significant impact on user experience and therefore will emerge as the primary control points says McKinsey. They say that Issues to overcome will be  data ownership, use cases, cross-functional execution, pricing models, big data and advanced analytics, and data security.

In my view - the winners will be those who focus on customer experience! 

Inspired by 

https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/an-executives-guide-to-software-development