“What seemed impossible yesterday is today’s opportunity and tomorrow’s reality” – Futurist Jim Carroll
Archives for February 2017
This company is a long time pioneer in the world of telecom and hi-tech. They know everything is changing with hyperconnectivty, the Internet of Things, massive acceleration in product innovation and product lifecyles, constant growth as every company becomes a software company, and as Moore’s law rules everything from healthcare to agriculture, cars and trucks to every other industry! (That’s a long sentence — and while it might be breathtaking, so is the speed of change). Who better to help them make sense of a future in which the future belongs to those who are fast? (Hint: Me!)
“Structure is the enemy of innovation – but if you must, establish a routine that involves being spontaneous!” – Jim Carroll
The photo is from an event I did for an insurance company — an industry that is set to be disrupted in a significant way as direct-relationship business models increasingly take hold. I’ve written and spoken about this extensively, such as in my post, Insurance & Innovation – The Challenge of Change.
People are locked into patterns. In big organizations, that routine develops a structure that is often necessary, but which can choke off creativity and innovation. This leads to a disease that I’ve come to call “organizational sclerosis” – which clogs up your ability to respond to rapid change.
How do you get around this? Try to do something new every day – set your mind to it! Take a look at a trend which is impacting you, and rather than worrying about it, take on some type of activity which helps you to confront it.
Sometimes, you just need to push yourself to try to do things you haven’t done before!
“Innovation is like a tee shot – it is deceptively simple in concept, yet endlessly difficult to achieve with any degree of consistency” – Jim Carroll
So I golf. Not well, but I have goals. Which makes the fact that the PGA of America has invited me in to keynote their organization twice all the much more remarkable.
This shot is from my keynote for the PGA Merchandise Show — I was invited in for a keynote on how technology could be used to help to grow the game. You can watch the entire keynote online. I also led a panel with senior executives from tech companies in the golf industry, including one of the fastest growing and most infleuential in the sport, TopGolf.
I slice often. But not always. And it won’t be forever. So it is with innovation – you can try and fail. Not always. And it won’t be forever if you keep at it!
My job as a futurist has me doing an increasing number of CEO level events for Fortune 500 companies around the world, helping at leadership meetings which are focused on the massive transformations and disruption occurring in every single industry.
Disruption is real, it’s big, and it’s happening faster than you think.
Here’s what you need to think about today, as the pace of change picks up:
1. Multiple trends merge. At no other time in the world of business have we seen so many trends come together all at once. Computers, exponentiating bandwidth, connectivity, the Internet of Things, artificial intelligence, robotics, neural networks, deep analytics, autonomous vehicles, self-learning systems. All of these trends and more are merging together, leading to a massively new, connected, intelligent machine that will transform, change, challenge and disrupt every industry. As this happens….
2 Every company becomes a software company. From healthcare, home appliances to automotive, manufacturing to packaging, retail to sports & fitness, energy to agriculture: every industry is seeing massive change as it becomes enabled, challenged and transformed by technology and connectivity. From precision agriculture to self-driving cars, smart clothing to connected microwaves, remote medical monitoring devices to active packaging — every company in every industry is becoming a computer company, with software and technology at its heart and soul. What this means is that …..
3. Velocity accelerates and speed defines success. Moore’s law — the rule that defines that the processing power of a computer chip constantly increases while the cost collapses at an exponential rate — is coming to drive the speed of innovation in every single industry. Companies are having to innovate and transform at a pace never seen before. Some can do it, and others can’t, which leads to the new rule in the economy that….
4. Small beats big. Agility and speed are the new metrics for success. Big organizations are often encumbered by legacy, and are suffering from the disease of organizational sclerosis. New, aggressive upstarts can move faster, with the result that they can make decisions that provide for big disruption and challenge. In their world….
5. Edge thinking dominates. These small upstarts don’t follow long-established ‘rules’ for changing the future. To move faster, they source ideas and inspiration through crowd-thinking, raise their funds through crowd-funding, and prototype products through 3D printing and other fast-to-market methodologies. Global R&D has moved from massive labs to globally dispersed idea factories. The result of this trend is that ….
6. Ideas accelerate. In every field, the pace of innovation and discovery is speeding up to an unprecedented level. What use to seem like science fiction just a few years ago is todays’ reality. In such an environment …
7. Big, bold thinking predominates. We are seeing the emergence of an entire world of big dreamers and doers, individuals who dare to challenge the orthodox, and abandon routines. The concept of the ‘moonshot’ is no longer restricted to those with deep pockets — but is oxygen for those with big ideas. To get their fast, they realize that….
8. Skills access is the new gold. Did you notice Ford paid $1 billion to get access to some experts in self-driving car technology? Enough said. Those who can access the skills in trend #1 above win. We’re in a global war for niche talent, and that pretty much defines a critical strategy for the future. If it is all about skills, then success involves a strategy in which ….
9. Experience is oxygen. There’s no time to learn, to study, to plan. It’s time to figure out what you don’t know, and do the things that are necessary to begin to know about it. Experiential capital is the new capital for the 21st century. To get there, you need to know that….
10. Action is the best reaction. If you don’t disrupt, you will be disrupted. It’s your ability to quickly act, react and do that will allow for future success. There’s not a lot of time for debate, studying; inertia is abhorred. Simply DO. That should be you.
Remember that song by the Who? “I hope I die before I get old!”
You better change before you can’t.
You might be obsolete before you know it.
Quit talking about disruption.
Do something about it.
“Stop planning. Start doing!” – Futurist Jim Carroll
When I’m on stage, I often talk about the ‘organizational sclerosis‘ that sets in, that prevents organizations from seizing the opportunities of the future.
To this day, I remain stunned by the slow speed of many organizations. Too often, this comes about because too much time is spent on planning what to do, rather than actually doing it!
As I note often on stage: ‘The high velocity economy economy and massive disruption demands that we act fast — which demands that we often do things in the absence of complete information.”