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That’s the problem that many financial services industry companies have — they are in a world in which they are having to respond to the challenges of fin-tech, disruptive business model change and more, and yet are running on an infrastructure that is still largely tied to the technology of the 60’s and 70’s.

That’s the modern day dilemma – and that’s part of what I will discuss when I open SAP’s 2018 Financial Services Industry Day conference in New York City next week.

To stir up interest, I filmed the little sneak preview above.

What happened? SAP has a BIG PROBLEM – in that the number of registered attendees is DOUBLE their expectations. Too many people have signed up!

What a nice problem to have. We know from experience that there will be a number of no-shows – it’s always the case – but still. It goes to show that senior executives from many of the world’s largest financial services companies – banks, insurance companies and more — are clamouring for insight on what to do in the era of acceleration. And that’s what I will cover in my keynote, and more.

(Do you run similar events, and want a similar BIG PROBLEM? Read more about my promo videos here).

In the last few months, I’ve had two keynotes where I’ve put in perspective the marriage of the Internet of Things with blockchain as a trend. This is a pretty massive issue yet one with a lot of hype and hysteria. I’ll have lots to post and say in the coming months on it. Here’s a short clip from one of those talks:

The first of these events was a leadership meeting was for Columbus McKinnon, a manufacturer of overhead cranes used in manufacturing, entertaining, shipping and logistics; the second was for the Canadian Finance and Leasing Association. The first group asked me to outline for several hundred of their engineers and sales staff how the essence of what they build and sell will change as they become ‘smart and hypercpnnected;’ the other wanted a talk that put into perspective the fact that the very nature of what they lease will change through such connectivity.

Here’s the thing: most #IOT (Internet of Things) projects today are a complete failure – they are insecure, built on old outdated Linux stacks with mega-security holes, and ill-thought out architectures. My slide on that fact? Simple: a reality which is already happening today. This type of negligence will doom of the future of the products of many of the early pioneers.

So here’s the thing: if organizations are going to build a proper path into the hyperconnected future, they need to understand and follow my “11 Rules of #IoT Architecture.” Read it, print it, learn from it : this is what you need to do as you transition to becoming a tech company. Some of the biggest organizations in the world have had me in for this detailed insight – maybe you should.

My inspiration for how to build the future right comes from Apple’s robust Device Enrolment Program architecture, which lets an organization deploy, manage, upgrade and oversee thousands of corporate iPhones or iPads; and Tesla, which is not really a car company, but a hi-tech company.

And so in both of these talks, I put into perspective how Tesla has (without knowing it, LOL) been following my rules. First, think about what a Tesla really is – here’s my slide….

Going back to my list of the 11 Rules of IOT Architecture, you can see that Tesla has met a number of the conditions …

Go through my IOT architecture list and think about what has been engineered into the computer that is a Tesla.

Upgradeable: any device should have the ability to be upgraded from afar, automatically, either by user choice or centralized management”.

Got that. Consumer Reports didn’t like the braking distance on the Model 3. No problem: that’s a software update.

“Feature addition capable: the design should provide for the addition of future capabilities, some of which might not be imagined yet at the time of development.”

You can do that when you buy your Model 3.

“Prognostic, diagnostic: each device should be able to self-diagnose and report when it is not working correctly.”

Yup, built in.

“Self-repairing: better yet, it should not only know when things are going wrong, but have the capability to fix it once it is aware”.

Let’s fix it at night….

“Programmable: the device should be controllable by users, to the extent that is possible within a predefined robust security and privacy architecture.”

User/driver interactivity is at the heart of operator interaction.

“Self-reporting: the device should be able to report on a wide variety of information pertaining to operations, proximity, location, status, etc.”

Built in. And yes, there’s an app for that (above).

“Swarm data-generating: it should be able to generate types of information that, in concert with other similar devices, is able to be manipulated to provide some unique operational, predictive or maintenance-information data-set (or more)”.

It’s a data gathering machine.

“Intelligence-capable: it should have or be provided capabilities to make its own decisions based on input data.”

As in, a new AI based, neural network…..

“Grid-connectable:  it should be able to exist or participate within a connected series of devices to achieve some original or newly conceived purpose.”

Vehicle-to-grid connectivity is a huge trend!Tesla isn’t participating fully yet, but it will. Your car battery becomes a part of the energy grid….

Here’s the thing: Elon Musk understands the need for a great IOT architecture. Most CEO’s of Fortune 1000 companies don’t, and until they get someone who does, their project will be a fail. They’ll likely put the future of their company at risk through security and privacy failures, product failures and more.

Get with the program, folks!

I’ve had several keynotes recently where companies in the manufacturing, transportation, automative and financial industry have asked me to come in and help them sort of what is going on with Bitcoin, Blockchain, the Internet of Things, and business model disruption.

That’s typical of the type of highly customized keynote that I take on. What caught the attention of these clients, leading to keynote bookings in Las Vegas, Montreal, Vail and elsewhere, was my keynote topic, “Cryptocurrency, Blockchain, Bitcoin and the End of Money: Understanding the Ultimate Disruption“. Learn about the that topic here.

With that, here are two clips that give you the essence of what you need to know.

First, BitCoin. Seriously, it’s just funny.

Second, Blockchain and the Internet of Things? Massive. 10 years from now, we’ll look back and go, “Whoah!”

If you are in any industry, you need to understand how the Internet of Things and blockchain are coming together, and what it means. As I state at the end, “you don’t need to understand how it works – but you need to understand what it does” in terms of disruption of your industry.

The folks at Hiability decided they needed to share with their customers and their industry the fast trends which are disrupting their world. They are one of the world’s leading provider of on-road load-handling equipment, intelligent services, and digitally connected solutions.

And so they found me.

The result was this article, appearing the Hiability Magazine last month. Enjoy!

The intro? “The future belongs to those who’re fast,” says Futurist Jim Carroll, one of the world’s leading futurists and an expert on trends and innovation. As the line between technology companies and traditional companies blur, everything we know about business from retail to inventory all disappear. How can the logistics, transport and material handling sector cope with this eventuality? Let’s fine out.”

Read the PDF, or click on an image. The full text follows below.

 

The future Is Now!
Hiability Magazine, September 2018
by Payal Bhattar

The future belongs to those who are fast’, says Jim Carroll, one of the world’s leading futurist and trends & innovation expert. As the lines between technology companies and traditional companies blur, everything we know about business from retail to inventory will disappear. How can the logistics, transport and material handling sector cope with this eventuality? Find out.

—-

Imagine a world where production lifecycles are collapsing, where inventory is passé and where companies can mass customize products and send them immediately and directly to consumers. Imagine all this not a harsh reality but a huge opportunity that is knocking at the doors of businesses worldwide.

The logistics sector is the heart of this big disruption. Driven by new technologies like blockchain, the Industrial Internet of Things (IIoT), Artificial Intelligence, robotics, 3D printing and analytics. This ‘Amazon effect’ means that we are building a massive new logistics system to get goods directly to people’s homes from factories.

Why store a product when it can be mass customized and sent to the consumer right away through 3D printing and end-of-runway manufacturing? If inventory as a concept disappears, what happens to the very concept of logistics? We will also see neighbourhoods in the future with drone-delivery pads on the driveway. As retail disappears, logistics has taken on a new form and function that is unimaginable,” says Jim Carroll.

Data is King

Take the example of trucks. With technology related to battery storage and electric vehicles developing at a furious pace, moving goods form one place to another is becoming more cost-effective and efficient. Several companies are working on having their own automated fleets where trucks will be self-driven battery-operated electric vehicles that are smaller and compact. Built with just a few thousands auto parts versus the 40,000 to 50,000 parts today these smart vehicles will operate like hyper-connected computers generating several gigabytes of data every hour.

According to a report on the US truckload (TL) Industry by McKinsey, In the long run, autonomous vehicles will reduce the total cost of ownership in the TL industry by 25 to 40 percent, including fuel consumption by 10 percent. Delivery times could fall 30 to 40 percent. Capital expenditures could drop significantly because the number of crashes may decline by about three-quarters. As a result, the bill for insurance will also decline.’

Detroit is no longer in charge – Silicon Valley is. Cars and trucks are essentially becoming hyper-connected intelligent-aware computers that are data-gathering and analysis platforms. They will eventually become an overall part of a massive new energy grid. That’s a big change”, explains Jim Carroll.

In Focus: Last-mile Delivery

It’s not just trucks, big data, robotics and artificial intelligence are already taking over inventory management and warehousing. Today high-vision fully automated forklifts and other robotic and automated guided vehicles are an integral part of the logistics sector. They not only offer more efficiency, higher speed, safety and accuracy in picking and boarding orders for delivery but are also helping companies radically bring down the high costs of fuel and labor.

Experts say that automation and last-mile delivery will lead to unbundling of tasks and create several new jobs which increase the complementarity between human tasks and machine work like supervisors, network managers, fleet managers, drone logistics managers, sensor cleaners, maintenance staff etc.

A report by PwC UK explains, ‘new technologies in areas like AI and robotics will both create some totally new jobs in the digital technology area and, through productivity gains, generate additional wealth and spending that will support additional jobs of existing kinds, primarily in services sectors that are less easy to automate.’

Beyond the Horizon / The Need for Speed

So what are the key trends for 2018 and beyond? Industry experts say that the Internet of Things, robotics, last-mile delivery solutions will continue to fuel the growth of the sector and reshape its landscape. Cobots or collaborative robots that interact with humans and work with the Industrial Internet of Things (IIoT) will replace robots that operate with limited guidance.

As direct-to-consumer manufacturing becomes dominant, the middleman will be eliminated or changed in significant ways. There’s a lot of hysteria about job loss, but few are taking about the new jobs and careers that are emerging, “ says Carroll.

In the year ahead, safety & cyber security will assume more importance for the logistics sector, mobile applications will play a big role and technologies to beat the weak spots in autonomous delivery and transport will emerge. It’s going to be a completely different world and only the nimble-footed will survive. Are you ready?

 

In December, I’ll keynote the DTN/Progressive Farmer Ag Summit in Chicago, with a look at the future of this sector.

I recently filmed two pre-event videos to give attendees a sneak peak. The agricultural sector has achieved much through constant innovation – but there is much more yet to come! Check out the statistics in this first video, and then expand your mind with the opportunities! For this particular video, I did some filming in the field. Literally! 

In this second, shorter preview video, I start out with ‘3 fun facts’ that you might not know about agriculture. Check it out!

Learn more about these pre-event videos here. These are proving to be a great hit with clients!

In October, I will keynote the Tag & Label Institute annual general meeting in Amelia Island, Florida. I’ve put together two good summary videos that they will share with their attendees in advance of the event, to get them thinking about the issues that they must confront as an industry.

In the first one, I take a look at the key manufacturing trends which will impact this organization, and everyone in the world of manufacturing: 3D printing, the arrival of the smart factory with the Internet of Things, mass customization, rapid prototyping, advanced materials and more.

In the second one, I examine the 3 key issues that the organization needs to address in the short term. This came about as a result of a long consultative call with the CEO of the organization. A good part of my keynote will focus on these issues – that’s a key part of how I customize my keynote for the issues in the room. I don’t do canned stuff!

These are good examples of the types of pre-event videos I’ve been doing for clients, and they are proving to be a smash hit. Learn more!

This September, I’ll headline what must be the longest running conference in the energy industry – let alone the event industry.

I’ll focus on the themes found in my energy keynote topic, “Accelerating Energy: Why Science & Technology Are Accelerating the Future Faster Than You Think!”

I put together this promotional event video for them, and recycled another one previously done.

For more insight on these rends, watch this one:

My clients are in love with these promotional event videos … learn how you can arrange for one.

Read the context of this quote.

Then ask yourself this question: when will it happen? I get asked the question a lot; in fact, again yesterday while in the middle of a golf round.

Here’s how I explained the fact that I think it will happen sooner than people think:

  • EV’s involve enormous simplicity compared to carbon/gas cars. Let’s say, a few thousand parts compared to 40-50,000. Anyone can and will get involved.
  • it involves battery storage, and that is a science that is evolving at a furious pace
  • the entire form factor of a car changes once you get rid of a gasoline engine. They’re smaller, more compact, easier to design and build. We’ll be 3d printing them before you know it.
  • cars are essentially becoming hyperconnected computers. Simply put, that speeds up a slow industry to a fast industry. Detroit is no longer in charge – Silicon Valley is.
  • it’s all about the data. Cars didn’t have data. Now they do. And they generate and process lots of data – upwards of 7 gigabytes an hour for self-driving vehicles.

As I explained in one recent keynote: cars and trucks are essentially hyperconnected intelligent-aware computers, being data-gathering and analysis platforms, that become an overall part of a massive new energy grid.

They aren’t really vehicles anymore, but essentially, something that is brand new. When something is new, it turns on the imagination and creativity machine of people world-wide, and that is happening at hyper speed today.

This is why organizations like Mercedes Benz, Chrysler, Volvo, Mac Trucks and others have had me in for my insight on the most transformative industry change occurring in our world today. Learn more from my keynote, “Accelerating the Auto Industry in the Era of Self-Driving Vehicles

Probably not.

Agility and flexibility in the retail sector is critical; I’m on stage in Orlando speaking to the issue of speed in retail.

Just over 18 months ago, I opened the annual meeting of the United Soybean Board in St. Louis, a group that represents most of the US soybean industry. I was on stage with a message for over 300 soybean farmers about opportunities for future growth. In addition, I spent 2 hours in a private session with the Board of Directors talking about opportunity. To see what I covered, read my blog post from my keynote “Accelerating Innovation: My Time With the United Soybean Board.”

We talked a lot about China and global markets as a big opportunity. Today, the industry is struggling with the fact that they while they spent a lot of time developing China a key market, the country has now targeted their beans with tariffs. They are in the front line of the new global trade war.

Who would have thought? Well, people vote, and votes matter.

With that in mind, watch this video from my good friend Jim Carroll – he’s the head of the Arkansas Soybean Board. Jim and I met when I spoke to this group. It’s a video message with his most recent update to his members – soybean farmers all of them – on their opportunities for innovation.

He’s talking about the same opportunities that I focused on in my keynote: new markets, using soybeans for new products and new opportunities (i.e. meal for fish farming in Egypt), sustainability – the whole idea of not selling ‘beans by the bushel’,’ but selling soybeans for use in different ways for different purposes. Did you know that Ford uses soybeans in seat cushions for cars? That’s an example of the type of innovative thinking occurring in the industry. Continue Reading

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