Nexttech

Nexttech
Creating Generational Legacies

Sunday, November 20, 2016

A People-Centered Economy

This article, so well written by Amy Ter Haar, captures the heart of the I4J leadership forum, hosted by  Google, David Nordfors and Vint Cerf. on last week’s fabulous event. https://africaexpedition.wordpress.com/2016/11/20/a-people-centered-economy/  
David Nordfors (L) & Vint Cerf (R), Co-Founders i4j.info

Last week I attended the ‘Innovation for Jobs’ (i4j) Leadership Forum in Washington DC where I had the privilege of hacking unemployment with sixty other thought leaders. It was Tuesday morning that I arrived at Google’s office where our task of disrupting unemployment spread out against the dawning day like a patient etherized upon a table.

Admittedly, we live in a worried world. Financial instability, overconsumption, pollution, energy demands, growing inequality and unemployment… all created by humans and all solvable. But we are locked into a culture of short-term thinking, a quick fix, a fast buck. And most grand ideological projects disappear into a thousand points of contention because experts are firmly tied to existing power structures.

Congressman Bill Foster likened jobs on Wall Street to rural communities that found themselves in crumbling economies two generations ago.  He reinforced that artificial intelligence is taking over routine analytics on Wall Street as well as document review in the legal profession because document research is now completely automated.

Employment is changing. Definitions are changing. So are business models. It is unclear what means exist for genuine reform. But can we find smarter ways and make discoveries for a brighter future? That was the objective of the day.

How can we make the ‘human economy’ flourish? There is no magic solution. It is a big deal and coming at us faster than anything. And in the center of it all we need to think about what it means to be human and what our goals are.

In the shadow of Capitol Hill, the White House and all that it currently represents, I started to understand that what we have become is the price that we paid to get what we used to want, as Mignon McLaughlin so succinctly prophesied.

David Nordfors co-founder and co-chair (together with Vint Cerf) of i4j talked about the possibility of a solution by re-framing the problem. He notes that currently, we ask “what is the most efficient way I can spend money”. But perhaps we can also earn money by asking a different question – how much value can this person create for others? What would happen if we started a business where I serve other people by maximizing their value for others?

Why not create a matching engine to determine how much value someone in the world is willing to pay for the combination of efficient spending and maximizing value for others? Nordfors suggests that such companies would actually grow the economy and they would earn by helping people to earn. And the service they would offer would satisfy the need for earning a living and a job becomes a service and the labour market becomes a service market, which has an enormous growth potential because it is a value-serve. And he suggests that we call this a human to human economy.

What is the metric? A human to human win.

Pete Hartigan defined the current opportunity as one where you can create businesses that help local communities and that doing so is actually how to enable those communities to become more profitable. Hartigan has been working on his thesis since 2010 and suggests that this is the magic syllogism. Pete believes that if you make people money and give them reputation, you’ll get engagement and activity.  He challenged us: “…perhaps we need to create a type of social currency, rather than a distributed coalition of the people”.

 

We need more of Nordfors and Hartigan’s consistent far-sighted action and extended thinking. Else we are in danger of losing our sense optimism

Kurt Lewin, recognized as the founder of social psychology understood change well. His early model of change described it as a three-stage process. The first stage he called “unfreezing”. It involved overcoming inertia and dismantling the existing “mind-set”. In the second stage the change occurs. This is typically a period of confusion and transition. We are aware that the old ways are being challenged but we do not have a clear picture as to what we are replacing them with yet. The third and final stage he called “freezing”. In the final stage the new mindset crystallizes and one’s comfort level returns to previous levels

It was Lewin who wisely said: “If you want to truly understand something, try to change it”. Although we are a long way from a new mindset, we are on the path. Let’s try to understand unemployment. Let’s try to change it.

Thank you David, Thank you Vint. Thank you i4J. You are beginning to change the world.

 

Wednesday, November 2, 2016

How many of the top asx200 will survive in 30 years?

Survive or thrive - Stephen Elop
Stephen Elop,  Group Executive, Technology, Innovation and Strategy at Telstra, says his time as CEO at Nokia taught him a number of lessons about change. Here he looks at what the Aussie ICT sector can do to thrive.

If you go back to 1955, the life expectancy of a business was 75 years. Today, a large business is expected to exist for about 15 years. Of the Fortune 500 in 1955, 88 per cent of businesses no longer exist.

There’s plenty that has changed in that time, but it’s us – the technology industry – that has driven the pace of change more than any other. Despite this, recent research from Telstra Wholesale, Powering your business through relentless change, shows that we’re still shying away from the pain that comes from being agile and managing disruption ourselves.

In the years I’ve worked with Australian companies, I’ve seen them deal with the same challenges that companies across the world face. But because Australia, in some ways, is an island both literally and figuratively, there may be some circumstances where it takes a bit longer for some disruption from afar to come to Australia. This gives us a huge opportunity to get ahead of those changes, but many businesses still aren’t reacting.

So how do we change the behaviour that’s holding us back?

Change the mindset

A fresh perspective is a powerful thing, but the senior leaders we spoke to in Powering your business through relentless changeshow that we’re being held back by tradition – the way things have always been done.

Conversely, disrupters have a mindset that they’re going to deliver a much better customer experience using a very different business model. They have that mindset and they believe in it and they’re passionate about it, and so they drive hard on it. With that mindset, an amazing amount of work is possible.

Make the most of partners

In Australia, perhaps more than in a much larger country, partnerships are fundamental. It’s a relatively small market given the population size and it has some unique challenges like the breadth of geography and its distance from other major centres.

Because of those factors, I believe that the Australian businesses that succeed are those that become very good at curating capabilities into the country. These companies see the importance of getting the balance between the need to create technology versus curating technology right for the future.  An example is Telstra’s multi-cloud strategy where we are partnering with companies like Amazon and Microsoft to present to our customers a variety of cloud-based capabilities rather than building it ourselves. Each of *Amazon, *Microsoft, *Google and a number of other companies are investing heavily in this technology. What we are doing is working closely with these partners to bring the best that the world has to offer to our customers both locally and globally.

Keep pushing the boundaries

It’s essential to constantly reinvent yourself. A decade or so ago, Telstra’s fixed line business was the cornerstone of our business. In the next five years, nbn will change the state of play dramatically. We have a strong market position and good financial resources, but it’s time we start asking how we take it to the next level. How do we change and lead the market?

So while the current business model is very good, we’re going to place some big bets on technologies that we believe in and disrupt our own model.

Because if we don’t, someone will. And they’ll succeed as a result.

 

WHAT YOU NEED TO KNOW:

  • As former CEO of Nokia, Stephen Elop has experienced extreme business change, and recognises behaviours which hold companies back. In this article he advocates:
  • Don’t be held back by tradition
  • Deliver a great customer experience
  • Make the most of your partners
  • Keep reinventing yourself

 

Download the report



Tuesday, October 25, 2016

Start-Ups, Scale-Ups & Schizophrenia: CEO Of Slingshot On Disruption

 Corporate lifespans are getting shorter. In ten years almost 50 per cent of companies on today’s s&p500 index will not be here. “They’ll be oblierated. We’re losing one company every two weeks,” that’s the doomsday scenario facing incombuents according to Karen Lawson CEO of Slingshot.

ERIN MARY Doyle
Posted byERIN MARY DOYLE
  •  

Speaking at the Daze of Disruption conference at the Art Gallery of NSW, Lawson helped delegates understand the innovators dilemmma and how partnering with start-ups can help a company survive into the future.

Lawson name checked several past incumbents that had opportunities to disrupt and evolve but didn’t; including Yahoo, Monster and Nokia. 

“There’s a famous quote from Stephen Elop (Nokia CEO in 2013) about the burning platform which he shared with all of his staff. It’s famous because he talked about feeling like he’s on an oil rig and the flames are taking over; he had two choices to stay on the rig and burn or jump overboard into the darkness below.”

Part of the memo Elop sent to all Nokia staff:

“We poured gasoline on our own burning platform. I believe we have lacked accountability and leadership to align and direct the company through these disruptive times. We had a series of misses. We haven’t been delivering innovation fast enough. We’re not collaborating internally. Nokia, our platform is burning.” 

The problem is companies can jump into the unknown, but 85 per cent of new products fail. “How do you survive and innovate as a corporate when you know it’s really challenging?

“I recommend that people should work for that rare CEO, a CEO that has schizophrenia. What I mean is they need to be able to manage and sustain the business as it is today, but also be working on disrupting technologies that effectively make your business today redundant.”

Step one: Partner with start-ups.

Slingshot’s recommendation is you start devloping relationships and experiments with hundreds of start-ups. “The fact is corporates don’t have infinite resources, so you have to make sure you partnering with different start-ups so you run hundreds of expeiments at one time.

“Then like the X-Factor elminiation process, you take it down to 10 serious engagements with a number of start-ups and scale-ups. Then move down again to three to six investments, and one or two major acquistions. All of the companies that we work with from NRMA to ING have used this process.”

Once companies have gone through this process, which Lawson describes as ‘not an easy process’, a number of things start to happen within the company.

“First of all your employer brand starts to change, people see you as a brand that’s doing really cool things with start-ups and all of a sudden you start to attract new talent into the organisation. Second, the processes and agility inside the organisation changing. Lastly, you have more fun.”

Step two: invest in scale-ups

Scale-ups are high growth start-ups. “The terminology of scale-ups is consistent, it happens when a start-up has been growing 20 per cent year on year growth- revenue or people.

If you look across the globe, the companies that have been responsible for more jobs and job growth are actually scale-ups. Here in Australia 3.2 per cent of high growth start-up businesses are responsible for 73 per cent of all new job creation.

Not only do these scale-up businesses already have products to go in market, but they have a higher success rate. According to Lawson and Slingshot: “Normally start-ups have a failure rate of around 90 per cent, but scale-ups that have gone through programs and partnered with businesses have a succes rate of 81 per cent.”

The lesson here is partnering with start-ups will help put out the flame of your company’s burning platform.


10 Essential Attributes of an Effective Networker

"It isn’t what you know, but rather who you know." 
Your database, email list, mobile contact list  and relationships you have made,  are the most valuable assets you have. 

Networking may be the most valuable skill set you can develop. It can help you throughout any point in your personal life and career. 

Building relationships is more than handing out business cards at a trade show. 

It is the genuine connections you make every day with a wide variety of people that involve a win-win-win. It is the way you develop relationships in your personal life and in the workplace that will determine  your success.

Author of 2 linked in books and business coach, Lewis Howes has identified 10 requirements needed to become an effective networker. 

1. Get involved. 

You can't network sitting in your office chair. It takes getting up and getting out. 
Circulate. Engage. Look people in the eyes. Involve yourself in the lives of others and allow them to become involved in yours. Be vulnerable and open and share your life as well as learning about others'. 

2. Know who you are.  

For others to have an interest in you, they need to have a reasonable understanding of who you are and what you do. 

Present yourself well. Be ready to share your vision with the world at any moment. This means you have to get clear on exactly what your vision is. Get tour elevator pitch nailed and have your presentation pack ready! 

3. Listen. 

Effective listening is one of the most important things you can learn in life. Be present and take it in.

4. Discover common ground. 

Much of networking success lies in discovering mutual personal and professional attributes.  Find out what's relevant and important to the person you are talking to. What is going on in the person's business? What is he or she passionate about?

5. Add value. 

Once you know what people are looking for, find a way to add value to their life or business if you can. If you can’t immediately, keep on the lookout for ways to add value to whatever they are about. 

It’s extra impressive when you follow up much later with an unexpected value-add. 

Providing a warm referral is awesome!

6. Remember. 

The basis for a solid networking relationship is knowing, liking and trusting. Remember the things you learn and discover about those in your network. It is this memorization that signifies their importance to you. 

Without a good memory (especially remember someone’s name) every meeting becomes a first meeting.

7. Follow up. 

People have contact with many individuals every day for a variety of reasons, including you. You set yourself apart by following up. This shows them they are important to you. It is always a good idea to follow up with an email, and then a one on one coffee meeting.

8. Contribute. 

You are an effective networker when you contribute to others by giving. Give information, time, energy, contacts and encouragement. Always keep your eyes open for people you can connect. 

Everyone in your network brings a unique set of talents, temperaments and convictions to the world. 
 Pick the people who are experts at what they do and refer their business to others.  

  

9. Ask for help. 

You cannot help others unless you have helped yourself. To get help, be sure to ask for it, and be appropriate and specific. 

I have had some great mentors in my life who taught me a lot about reaching out for help 

10. Show appreciation. 

Say “thank you” for everything. Even thank someone for thanking you (“I so appreciate that you took the time to acknowledge my effort”). Whenever you take the time to thank someone, you create an opportunity to further connect with them.

The more confident you are in your ability to network, the faster you grow relationships. And as we all know, relationships are everything.


Sunday, October 23, 2016

Thriving in a changing digital landscape - lessons from Telstra

 BY   RESEARCHNEWS For Stephen Elop, Group Executive, Technology, Innovation and Strategy at Telstra, his time as CEO at Nokia taught him a number of lessons about change. Here he looks at what the Aussie ICT sector can do to thrive.

If you go back to 1955, the life expectancy of a business was 75 years. Today, a large business is expected to exist for about 15 years. Of the Fortune 500 in 1955, 88 per cent of businesses no longer exist.

There’s plenty that has changed in that time, but it’s us – the technology industry – that has driven the pace of change more than any other. Despite this, recent research from Telstra Wholesale, Powering your business through relentless change, shows that we’re still shying away from the pain that comes from being agile and managing disruption ourselves.

In the years I’ve worked with Australian companies, I’ve seen them deal with the same challenges that companies across the world face. But because Australia, in some ways, is an island both literally and figuratively, there may be some circumstances where it takes a bit longer for some disruption from afar to come to Australia. This gives us a huge opportunity to get ahead of those changes, but many businesses still aren’t reacting.

So how do we change the behaviour that’s holding us back?

Change the mindset

A fresh perspective is a powerful thing, but the senior leaders we spoke to in Powering your business through relentless changeshow that we’re being held back by tradition – the way things have always been done.

Conversely, disrupters have a mindset that they’re going to deliver a much better customer experience using a very different business model. They have that mindset and they believe in it and they’re passionate about it, and so they drive hard on it. With that mindset, an amazing amount of work is possible.

Make the most of partners

In Australia, perhaps more than in a much larger country, partnerships are fundamental. It’s a relatively small market given the population size and it has some unique challenges like the breadth of geography and its distance from other major centres.

Because of those factors, I believe that the Australian businesses that succeed are those that become very good at curating capabilities into the country. These companies see the importance of getting the balance between the need to create technology versus curating technology right for the future.  An example is Telstra’s multi-cloud strategy where we are partnering with companies like Amazon and Microsoft to present to our customers a variety of cloud-based capabilities rather than building it ourselves. Each of *Amazon, *Microsoft, *Google and a number of other companies are investing heavily in this technology. What we are doing is working closely with these partners to bring the best that the world has to offer to our customers both locally and globally.

Keep pushing the boundaries

It’s essential to constantly reinvent yourself. A decade or so ago, Telstra’s fixed line business was the cornerstone of our business. In the next five years, nbn will change the state of play dramatically. We have a strong market position and good financial resources, but it’s time we start asking how we take it to the next level. How do we change and lead the market?

So while the current business model is very good, we’re going to place some big bets on technologies that we believe in and disrupt our own model.

Because if we don’t, someone will. And they’ll succeed as a result.

 

WHAT YOU NEED TO KNOW:

  • As former CEO of Nokia, Stephen Elop has experienced extreme business change, and recognises behaviours which hold companies back. In this article he advocates:
  • Don’t be held back by tradition
  • Deliver a great customer experience
  • Make the most of your partners
  • Keep reinventing yourself

 

Tuesday, October 11, 2016

Robotic stock takes with Cosy

Jonas Cleveland
Jonas Cleveland
Co-founder, CEO and CTO, COSY




One  of the critical tasks in retail is use of floor space within every store. In a huge chain like Walgreens, for instance, with more than 8,000 stores, this knowledge is difficult and expensive to obtain.


 With the help of Cleveland, 29, Walgreens is using artificial intelligence to reduce the kind of out-of-stocks that cost retailers almost $400 billion annually, creating a fully automated robot inventory labeling system. In 2012, Cleveland co-founded COSY, a firm that uses advanced computer vision to allow mobile devices to accurately position themselves indoors. Think of how GPS and Google Maps have transformed so much of our world. Cleveland’s app wants to solve the same navigation challenges for places like supermarkets, houses, movie theaters or even your doctor’s office. “We are giving power through data that's never existed before,” says Cleveland.

Watch now: Cleveland explains how artificial intelligence is going to transform the future of retail.


Ivan Kayes note - Imagine if you had an rfid chip built in to every product... you could do an immediate Arocha check at the press of a button. When you check out, it automatically registers all your purchases.

Just saying!!!


What do you think? 


Monday, October 10, 2016

What is the ACD summit and why is it important to Asia?

LEADERS AT the Asia Cooperation Dialogue summit yesterday adopted a vision and action plan for cooperation to build the Asian Community in the next 14 years, "to try to achieve a community for the countries across the continent. " said Prime Minister of Thailand, Prayut.

"This would make Asia as a continent of inclusive and sustainable growth with seamless connectivity, people-centred stability and peace, dynamic innovation, research and development, as well as qualified and capable people."

To do that, he said, they needed to drive six pillars of cooperation, namely 
  1. inter-linked dealings on food, water, and energy security; 
  2. connectivity;
  3.  science, technology and innovation;
  4.  education and human resource development; 
  5. culture and tourism, and 
  6. promoting inclusive and sustainable development.

These pillars could be absorbed in the public, private and people sectors and promoted together to create inclusiveness that will help formulate policy towards sustainable growth in Asia, he said.

There was a call urge for the region 
  •  to become a global human resources hub, 
  • enhance engagement with private sector,
  •  in-depth expansion in investment and business activities, 
  • support toward academia and 
  • expand collaboration with other global partners. 

Alibaba Group's chairman Jack Ma, who represented the ACD private sector told leaders at the summit during an interactive session that governments should use technology, notably financial technology, and have policies to help support the younger generation and small business.

"We believe that small is beautiful, powerful and wonderful," he told the ACD delegation. Ma said Asia was not only the fastest growing continent but also the best continent to solve poverty and inequality. 

Technology would help create jobs, rather than killing jobs, as widely feared, he said. 

 Thailand's 
Special Economic Zones, will help boost local infrastructure development and economic activity.

His Majesty the King's Sufficiency Economy philosophy would also help member states achieve unity in economic, social, environmental dimensions including quality of balance and happiness of the people, he said. 

UN Secretary-General Ban Ki-moon also sent a note of greeting - a recorded clip shown at the beginning of the ceremony - and voiced support for the ACD Vision, and bringing about inclusive and sustainable development.

The ACD ministerial meeting is held annually as a sideline meeting to the UN General Assembly every September.

Starting in 2002 with 18 founding members, the Dialogue now has 34 member states across Asia including major economic powers such as China and Japan and top oil dealing countries in the Middle East. Though called a summit, the event this time drew only seven heads of government including Prayut - the Sultan of Brunei Darussalam, the Amir of Kuwait, and two presidents from Iran and Sri Lanka. Other attendees included two vice presidents, two deputy prime ministers, 13 ministers or officials in equivalent positions, a premier's adviser, a Sultan's adviser and four ambassadors.