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Tomorrow morning, I’ll keynote Drive 17 — it’s a conference for credit union executives around the topic of the future of lending. Particularly, automative lending. This is similar to a keynote I did in January of this year for the American Financial Services Association — same topic and issues, except for banking executives.

It’s a challenging time to be in this space, as we witness seismic changes in both the very nature of automotive ownership and the manner by which lending decisions are made. Particularly with the next generation, who are very different from their forebears:

  • they don’t have a job for life – they freelance
  • their banking is mobile – they don’t use cash
  • they don’t think long term – 25 year mortgages are a foreign concept
  • they don’t stay at hotels – they use AirbNb
  • they don’t use taxis – they Uber
  • and 1 in 10 works in the sharing economy…. and so they don;’t have the typical risk profile of an employee

The biggest challenge? They might not even buy cars, but rather will take advantage of all the opportunities that the sharing economy presents. Of course, if you are in the business of lending money for the purchase of automobiles, this can be a problem, and requires some innovative thinking.

If they do, however, buy a vehicle, the manner by which they will seek financing will be very, very different. It will be done through their mobile device; they’ll expect instant options, and instant approval. We’re talking 30 seconds here. If you can’t meet their expectations in terms of the time for the transaction, they’re gone. Which means you need to challenge yourself in terms of interface, risk assessment and more.

In my keynote tomorrow, I’ll cover these trends and more. The reality? Every credit union and financial institution today needs to comprehend the speed with which transformative change is occurring, and how they must focus on innovation as a means of turning those challenges into opportunity.

 

Gore Mutual is a property and casualty insurance company located in Canada, and they are running a full day session to help their broker understand and deal with the fast pace of change.

I’m thrilled to be a part of the day, and will share the stage with well known Canadian environmentalist David Suzuki, and Canadian astronaut Chris Hadfield!

 

I’ll be focussing on disruptive, fast change:

I love ‘small world’ connections, and here’s what’s fun about this event:

  • the artwork for the event (above) was done by Laurence Smink — a graphics and artistic superstar! Laurence did the cover for my book, The Future Belongs to Those who Are Fast!
  • He also did the cover artwork for the book of a good friend, Nicola JD Maher, the Tiniest Warrior of All, published by my publishing arm, Oblio Press
  • Chris Hadfield has published multiple books — and his book agent is Rick Broadhead, Canada’s leading literary agent, at RBA Literary. Before he did that, Rick and I wrote 34 books about the Internet in the 1990’s that sold well over 1 million copies!

This is going to be a great event, and I look forward to sharing the stage with two iconic thought leaders.

 

I spend a huge amount of my time dealing with senior executives in global companies; just hit my client list for a sense of what I do. This usually involves a lot of conversations with CEO’s of Fortune 1000’s, startups, and other C-suite executives.

With that, I’m always fascinated by the public promise of a company, and the eventual reality of what is delivered.  With that, I give you the public promise of Sir Richard Branson of Virgin when it comes to his staff:


That’s a good message for a CEO to promise. Treat people as you would like to be treated.

Sir Richard, maybe you should make sure your staff treats potential business partners with the same degree of respect. Just a thought…..

As a global expert on trends and innovation, I often see the dichotomy between the promise of a brand and the reality. So here’s a story for you to ponder. Is the promise above real?

Maybe not, from a recent experience of mine. Listen in: it’s not much a story, but I  find it interesting and want to get this off my chest…. and you might find it to be so too.

It was a thrill for me back in February of this year when I was contacted by the office of Sir Richard Branson to see if I might contribute to a “book”  his office was putting together, specifically:

Virgin is embarking on a project to consider the future of UK work and business 20 years from now. We’re keen to bring together some of the best minds in the country – to form predictions on the most pertinent emerging trends and recommendations for how we best work towards a thriving 2037.”

Their ask  was to see if I could contribute to a section on the future of the workplace, as in:

The How you Work chapter will focus on working environments, communication with colleagues, access to the office, commuting, global vs local, access to support communities”

The idea was that they would deliver this sometime towards the end of this month, with a number of contributors participating. They indicated that given my background with speaking and writing about the future of the workplace, workforce and the organization that I would have some ‘powerful’ insight.

I don’t mind saying that being involved in such a project would certainly be a thrill and probably one of the highlights of my global career, next to such things as doing talks for Disney, NASA and the Swiss Innovation Forum!

With that, an exploratory call was arranged by the folks at Sir Richards office to discuss my potential contribution. I took the call while out on a ski hill, and we kicked ideas back and forth for about 1/2 hour. The call certainly seemed to go well, and they indicated they would get back to me within a week to talk about ‘next steps.’

And then, silence. Nothing. So I followed up with an email. Then another, and then another. And ….nothing. Complete and utter — and baffling — radio silence. Not a simple, single response to several emails asking if the project was moving on. Not even anything telling me, ‘thanks for the exploratory call, but we’ve moved in other directions…..”

To this day, I still don’t even know what happened with the project. Who knows — maybe we’ll see something in the next few weeks, and I will know that I didn’t make the cut.

So what? Well, here’s the thing: what I see from Virgin in this case is complete disrespect from Sir Richards staff. The complete and simple lack of the courtesy of a response to several inquiries, following up on our original conversation. How do you square that with the promise of a CEO to treat his staff with respect? If that very staff can’t treat potential external business partners with similar respect….?

This isn’t sour grapes; it would have been a lot of fun to participate. Heavens knows I’ve got plenty of other things to do….

But what gets me is this: Sir Richard is known for establishing companies, and a culture, that thrives on the utmost of respect and service. Virgin Airlines, for example, can put many other companies to shame for its ability to be relentlessly customer centric. His promise in a quote such as above is to excel in establishing a staff culture based on respect…

Yet that respect doesn’t seem to trickle down from his office….

My question to Sir Richard is this — why can the staff in your office not carry the same attributes? It might be time for you to ask a few questions….

Just wondering.

Half of the events I do as a futurist and innovation expert are spent at corporate leadership events. I’m frequently engaged by a CEO or other senior executive for a global Fortune 1000 company to come in and challenge their team as to how to align to a fast paced, disruptive future. After all, the reality is that speed is a new success metric.

There’s a lot of work and customization that goes into each and every talk — just last week, I met with 20 executives in the nuclear industry, and spent a lot of time updating myself as to trends in the energy and nuclear sector so that I could guide and challenge their thinking in a powerful way.

While researching and preparing, or while delivering my insight, I’ve noticed an increasing number of organizations are seeking to set their innovation energies on fire by encouraging their younger, interactive generation to explore opportunities for the digital, disruptive future through what I’ve come to call an Xbox room!

Why? Because this generation gets-it, knows how to innovate, and is the most powerful force for change in our world today. Consider the reality:

  • half of the global population is under the age of 25
  • we know they are globally wired, entrepreneurial, collaborative, and change oriented
  • and they are now now driving rapid business model change, and industry transformation as they move into executive positions

With that reality, organizations are realizing they should allow this generation to light their creative energies on fire, even if they aren’t sure as to what they might do or where their efforts might go!

The idea is to set them up with an innovation facility by which they can explore and accelerate the adoption of leading digital tools throughout the organization that can accelerate innovation efforts, provide for better collaboration and so much more.

Case in point: I spent some time in St. Louis with Amsted Rail: they manufacture the ‘bogies’ which are the wheel-undercarriage assemblies found on railcars. It was a thrill for my wife and I to have a tour of their manufacturing facility before my talk to see what they are doing to realign themselves to opportunities for innovation in manufacturing.

And the tour included what they call their iLab — or, what I would call for the fun of it, an Xbox room! In this facility, they are continually examining a variety of ideas as to how to continue to move the organization forward. This includes exploring a variety of ideas and technologies, including:

  • state of the art brainstorming centres to facilitate ideas colliding from all corners of our company
  • real-time employee collaboration tools across geographically diverse sites (to promote “a collision of ideas”)
  • how to use connected SMART Boards to simultaneously write/draw/share over any application using “digital ink”
  • 3D scanning/modelling systems to enhance product R&D and quality capabilities
  • advanced tensile testing techniques for enhanced product strength & durability

I had a chance to chat with the young fellows in the Xbox room — and listen to their ideas. It’s obvious its a rocket engine for innovative thinking!

That’s but one example: the more I witness what organizations are doing to accelerate innovation, the more I discover some sort of ‘Xbox room.’ I recently keynoted a major conference on the future of trucking in Phoenix.

While on stage, I spoke about a company in Winnipeg, Canada — Bison Trucking. They’ve set up a facility to encourage younger staff to explore how to align the fast pace of technological change in trucking to opportunities for digital technologies — read an extensive blog post about their efforts in the post Trend: In Trucking, Aircraft Control Towers Are the New Offices.

There’s plenty of others – Xbox rooms seem to be springing up everywhere!

Here’s what you need to think about:

  • you should set up a digital facility with all kinds of ‘toys’ relevant to your industry, and set the creative energies of a group of young staff free to explore
  • don’t set any specific goals, objectives or deliverables on the project — simply set it free to explore!
  • explain the purpose and mission of the group to the rest of the organization, and encourage them to bring unique problems to the group

Go ahead – make an Xbox room!

 

 

IBM’s Think Marketing blog found my site, and interviewed me on some of my thoughts around innovation and culture. Give it a read!

 

Hatching your next great idea: 5 ways to set the stage
by Jennifer Goforth Gregory, IBM Think Marketing Blog

Sometimes, you wake up and it feels like it became spring overnight. But when you stop to think about it, the change of seasons happened gradually over the course of a few weeks, and you missed the subtle signs. The daffodils started blooming last month. You started leaving the house without a coat. And, last week, you noticed a few trees sporting light green leaves.

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I work with many of the world’s leading bureaus, one of who is the Washington Speakers Bureau. They represent such people as Condoleeza Rice, George W. Bush, Tony Blair, John Kerry, Magic Johnson, Terry Bradshaw — global political, sports and other leaders. They’ve just run a blog post that I wrote on trends in the speaking industry. (Many of the worlds leading bureaus book me ; not only Washington Speakers, but also National Speakers Bureau / Global Speakers; Gail Davis & Associates; Leading Authorities; the Harry Walker Agency; Keppler Speakers ; Executive Speakers and many more!)


You can’t open a newspaper without seeing an article on the impact of ‘disruption.’  We now live in a period of unprecedented change in which your business model and the assumptions by which you operate are set to be forever disrupted.

In my own case, I spend a tremendous amount of time with different organizations in a vast range of different industries and professions, helping executives to understand and respond to the disruptive forces around them. And in the last several years, I’ve noticed some pretty significant changes in the speaking industry as organizations struggle with disruption.

If you are someone on your team responsible for organizing corporate or association meetings, you need to think about and react to the trends and forces at work. Quite simply, change is occurring several ways: with the speed with which speakers and topic experts are being booked, the topic areas that insight is being sought for, and the short time frames that everyone is working within.

As a speaker who focuses on how to link trends and innovation, my tag-line has become ‘the future belongs to those who are fast.”

The world is speeding up – and organizations need to respond faster

Consider the changes that everyone is impacted by today. Business model disruption. The rapid emergence of new competitors. The challenging impact of social media. Products that are almost out of date by the time they are brought to market. The digitization of everything and the impact of the Internet of Things.  All of these trends — and more — require that organizations pick up the pace when it comes to their strategies, actions and innovation efforts.

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Over the last 25 years as a speaker on future trends and innovation, I’ve seen many cases where companies have jumped onto a trend simply because everyone else. Or, they’ve suddenly decided that ‘innovation’ is important, without really defining a purpose or goal behind such a focus.

Rather than by just jumping on a bandwagon and doing what others are doing , try asking better questions as to why you should or should not be doing something!

Innovation that is based on “jumping on the bandwagon” is doomed to fail, for many, many reasons:

  • it’s lazy: true innovation takes hard work. It involves massive cultural, organizational, structural change. It involves an organization and leadership team that is willing to try all kinds of radical and new ideas to deal with rapid change. An innovative organization can’t innovate simply by jumping on a trend. Trying to do so is just trying to find an easy solution to deep, complex problems.
  • it involves little new creativity: by linking a new approach to doing things with a “hot topic” or trend means that people end up shutting their brains down. Creativity is immediately doomed through commonality.
  • it’s just a bandaid: bandwagon based innovation causes people to look for instant solutions and a quick fix, rather than trying to really figure out how to do something differently.
  • it’s misfocused: it involves putting in a solution is sought without identifying a problem. It’s backward in terms of approach.
  • it encourages mediocrity: it reduces innovation to an “idea of the week,” and does nothing to encourage people to really look at their world in a different way.
  • it reduces innovation to sloganeering: truly creative people within organizations are tried of slogan-based management. They’ve seen far too many ‘radical right turns’ and ‘new beginnings’ — and when they realize that their management team has jumped onto the latest hot trend, their faith and motivation goes out the window.
  • it destroys innovation: after the bandwagon effect ultimately fails (as they always do for the reasons above), people end up feeling burned out, cynical, demotivated — and they’ll be prepared to do little when the “next big thing” comes along.

 

It’s more important — and more difficult — than that.

Supertramp — a band from the 80’s — had a minor hit with the song “On the Long Way Home,” which featured the memorable line, the line, “when you’re up on the stage, it’s so unbelievable.” It is, quite. And when you’re up there, you realize how lucky you are to be able to share with the audience the wisdom you’ve picked up by observing some of the world’s top innovators. When the PGA of America had me in for the 2nd time, one of my key goals was to lay a foundation for the fact that growth in the game will come from innovation!

Recently, after a presentation to an audience of 3,000 people, I was approached by a CEO who was quite inspired by my remarks. He then asked me a fascinating question: “what would you do if you took over the leadership of my company right now?” We chatted for a while and I believe I provided some pretty succinct insight; but since then, I’ve been thinking about that question. Here’s a part of my answer.

  • maximize your best revenue opportunities. I’d make sure that any existing revenue relationships remain intact, and then some. I’d work on having my team obsess on growing existing high value customer relationships through service excellence. Let’s make sure that we meet their needs. It will likely be easier to keep existing revenue flowing rather than finding new ones, particularly through a time of economic challenge.
  • obsess over time to market. I’d work hard to accelerate product innovation; market life-cycles are collapsing, and I’d make sure every member of the team reoriented themselves to that reality. I’d focus on getting R&D to think in terms of faster cycles; I’d ramp up sales force education so that they were better aware of what’s coming next. I’d have the team thinking in terms of 3-6-9-12 : here’s what will be doing in the marketplace 3, 6, 9 and 12 months from now. I’d layer on top of that some insight into 1-2-5-10: what we might be doing 1, 2, 5 and 10 years from now.
  • reduce product costs through process improvement and better project execution: there is no shortage of innovative ideas, structures and concepts involving process and production methodologies. I’d make sure we were looking at finding those who are doing leading edge work in this area, inside or outside our industry, and learn from them.
  • align to customer oriented innovation: go upside-down, in fact. Take a look around and you will probably discover that your customers are inventing your future faster than you are. View their ideas, strategies and actions not as a threat, but as an opportunity for ideas!
  • reduce structural costs through collaboration: at this point in time, in a global world that allows for instant, smart collaboration among teams, there is no reason for massive duplication of skills and talent throughout an organization. I’d start a rethink those silos, and restructure for a new skills deployment approach. Right off the bat, I’d encourage a few cross-organizational collaboration efforts, to get people used to the idea of tackling fast new problems rather than arguing about structure and hierarchy.
  • focus on the pipeline of talent innovation: I’ve said it before and I’ll say it again. The depth the bench strength is critical to future success. I’d have everyone take a good look at our pipeline, to see if it will meet upcoming needs. If not, I’d get a program in place to fix that fast.
  • relentlessly and aggressively chase costs: I’m not talking about spontaneous slash and burn spending cuts: I’d refocus on transitioning the role of staff from tactical efforts to a strategic role. I’ve spent time with the CIO’s and CFO’s of some pretty major organizations: Hunt Oil, Adobe, J Crew, Under Armor. All of them have provided in-depth insight onstage during customer panels that have focused on the role of IT in the business to run the business better, grow the business and transform the business. There remain countless opportunities for IT oriented innovation to rip unnecessary costs out of the business, and it involves this tactical to strategic transition.
  • enhance quality and reliability of product: Last year, I spoke to 2,500 global quality professionals on the challenges that the high velocity economy presents to the concept of quality. The fact is, new issues hit us in the marketplace faster than ever before. And the global idea loop means that quality challenges can become a sudden, massive worldwide PR nightmare faster than we’ve ever been prepared for. That’s why avoiding quality problems remains a critical focus. I’d take a look at how well we’re dealing with quality issues, and whether we’ve got the agility to respond in this new world of heightened PR challenges. I’d also have a group prepare an immediate outline of challenges and problems with customer service and satisfaction.
  • partner up: no one company can do everything on its own anymore. Take a look t the world of self-driving cars — every single auto company is partnering at a furious pace, because they know that access to specialized skills is the defining success factor for the future!
  • capture new emerging growth markets faster: I’d begin to orient the team so that we knew about which market opportunities might come next, and then spend time aligning ourselves to innovate faster in such markets. I recently spent some time with one client, and the focus of our discussion was how a new market was set to unfold in the next three months. Expectations were that the market — for a unique consumer product, with potential sales in the billions of dollars — might last for a period of eighteen months, before being eclipsed by the next stage of development. Essentially, the CEO was looking at a situation where they had to figure out how to jump into this new fast market, and make the most of it in an extremely short period of time. That’s a new skill structure to wrap an organization around, and one that every organization must learn to master.

That’s a good starting point. The key issue: I’d begin by aligning the organization to the concept of “thriving in the high velocity economy.”

Oh, and one of the first things I’d do? I would immediately convene a senior management/leadership meeting, and bring in a futurist and innovation expert to wake my people up to the potential that can come from energizing ourselves towards future opportunities.

Post 9-11, all kinds of people predicted that we would see the end of corporate meetings, annual conferences and incentive trips. Instead, given the fear and concern with travel, and the rapid evolution of new technologies, most meetings would go virtual. Webcasts. and things like that were all the rage!

Back then, I called out this idiocy for what it was, and wrote an article for a leading meetings industry publication, Successful Meetings, entitled Get Real.

A key comment? “An event is as much about team building and networking as it is content.” At the end of the day, its about a group of people getting together, getting inspired, sharing ideas, and moving the future forward.

Read the article here

My insight on the future of packaging is featured in the May/June issue of Frame magazine, ostensibly the the leading global publications focused on all things ‘design.’

The article offers up all the thoughts I have on the future of packaging in the world of retail – hyperconnected, aware, interactive, and a world in which the package is the brand. I’ve been speaking and writing about the future of packaging for almost 20 years — take a look at some of the posts in this link here.

I’m working on getting the text and will link to it, but for now, here’s the article in image form. Click to make it bigger!

Here’s the text:

Shopping is becoming a matter of seconds
Frame Magazine, May/June 2017

‘I did all of my Christmas shopping on Amazon this year and didn’t visit a single store,’ says American futurist Jim Carroll, an expert in spotting trends and innovative advances. ‘It’s hard to discount the speed of change occurring in the world of retail and consumer products. It is in a state of upheaval.’

Some of the trends? He mentions ‘shopper or proximity marketing’, which combines location intelligence, constant mobile connection and in-store display to create a new form of instantaneously personalized in-store promotion. Mobile payment involving Apple Pay is ticking upwards, and – also pioneered by the likes of Apple – the cash register is disappearing, replaced by portable wireless credit-card devices.

>Big brands like Google, Amazon and the John Lewis department stores continue their move to same-day shipping. Even the automobile is being turned into an online shopping and credit-card platform. Tech like Amazon Alexa, AI and shopping bots require no more than a spoken word to add a product to our shopping cart for delivery within an hour, while a ‘click and collect’ infrastructure allows for same-day pick-up, at a bricks-and-mortar location, of an online purchase.

It’s clear that active intelligent packaging and Internet of Things products, which have been disrupting product life cycles, are accelerating product obsolescence and affecting both inventory and supply chain. ‘This means,’ says Carroll, ‘that faster “store fashion” with rapid evolution of in-store promotion, layout and interaction will become critically important.’

Although the average consumer can scan 3.6 m of shelf space per second, consumers wander around stores today glued to the screens of mobile devices, paying only incidental attention to merchandise, store layout, branding or promotional messages. No wonder TV screens and video projections are filling stores. ‘Mobile interactions in the retail space are the new normal for purchasing influence,’ Carroll says. ‘Retailers have got only micro-seconds to grab the attention of the low-attention-span shopper, which means that we will have to constantly innovate and adapt our retail space. The very nature of in-store interaction, flow and layout is changing very fast.’

How designers will respond to these rapid changes imaginatively is still a blank page for designers to fill. ‘We are going to see more change in the world of retail in the next five years than we have seen in the last 100. That doesn’t mean traditional design parameters and methodologies will disappear. It’s just that we now have opportunities to integrate unique technology interaction into retail design in a wide variety of ways,’ Carroll says. ‘I think there’sopportunity coming for innovation in the design of retail space, not less.’

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