you life because we've seen The Terminator a few too many times? We must retain healthy skepticism and ask tough questions about new technology, but remain open to the bounties it will bring. The six technologies described in this book will bring incredible innovation to every part or our lives. This is an exciting time to be alive! While automation will inevitably destroy some jobs, technology will create many new ones and elevate human work by taking on dull, routine tasks. New technology will create entire new career paths and make work more meaningful, challenging, creative, and rewarding.
Getting the Most Out of This Book
In the first part of this book, we cover each of the six technologies in turn: artificial intelligence, the Internet of Things, autonomous machines, Blockchains, augmented reality, and 5G networks. If you are already well-versed in these technologies, you might skip to the second part, but note that there are many stories included in these early chapters that demonstrate how these technologies are already being applied to solve real business problems.
In the second part, we review the high-level business implications of these technologies—automation strategies, the strategic importance of data, and the future of work.
In the third and final part of the book, we review specific examples of early innovation using the six technologies. Each chapter is focused on a particular industry. They describe the unique challenges of each industry, how technology is already solving real business problems in that industry, and the key lessons readers can learn and apply elsewhere.
No matter which industry you are in, I strongly encourage you to read this final section of the book. If you're in healthcare, read about manufacturing and transportation. If you're in retail, read about construction and supply chain, and so on. Steal ideas with pride. Lessons can always be learned from other industries. I hope you will read about something happening in another industry and think, “Well that's nothing like what we do, but it's given me a great idea….”
Please read this book with a mind-set of exploring a world of possibility. Every businessperson, no matter their seniority, line of business, or role within a company, needs to understand the six technologies described in this book. Businesspeople don't need to understand the technical ins-and-outs of how these technologies work—that's a role for the IT department—but they must understand the practical and strategic implications of these technologies, and how their capabilities will evolve with time. Armed with these insights, business leaders can guide informed conversations with their teams as they build their medium- and long-range plans.
Collectively, these technologies will transform business operations, customer expectations, customer relationships, labor strategies, and the competitive landscape. No industry is immune. No company is exempt.
Don't Panic; Don't Wait; Get Help
Every business should prepare for widespread turmoil and change. Standing still is no longer an option, especially for industries that have stagnated for years, or decades.
Resist the temptation to panic. This level of change can feel overwhelming but remember that every company is in the same boat. By virtue of reading this book, you already have an advantage. That said, there is no time to waste. Don't wait to embrace the technologies described in this book. Start strategic discussions today. Connect your IT department with your strategic planners and task them to drive innovation across every aspect of your business. Fund pilots and try new approaches. And remember that unless you are a tech company, you can't be expected to understand and implement artificial intelligence and other technologies on your own. So, get help. Push your suppliers for solutions that embrace these technologies and deliver the capabilities you need. If they don't respond, find new suppliers.
To summarize: Don't panic. Don't wait. Get help.
Above all, prepare your organization to embrace change and get them excited about driving innovation into everything you do.
The Innovation Ultimatum is both a call to innovate for survival in a rapidly evolving competitive environment, and a moral imperative to use these six technologies to serve people, elevate work, and make a lasting, positive impact on the world. Let's dive in.
1 Artificial Intelligence
Artificial intelligence (AI) is all around us. It underpins speech recognition, natural language processing (NLP), and machine vision. AI is behind the sophisticated spam filters that keep your inbox (mostly) free of junk mail. It flags unusual usage patterns on your credit card and assesses your credit score. It suggests tags for people in photos you post to Facebook. It offers intelligent suggestions when you use the search bar. AI is all around us, yet we have only scratched the surface of AI's future potential.
Like a femme fatale in a classic movie, AI seems simultaneously sexy and scary. While artificial intelligence may help us to unlock cures for diseases, discover new wonder materials, and predict the future, some people worry that it threatens human life as we know it, either economically or existentially.
What Is It and Why Is It Important?
Artificial intelligence is the umbrella term that describes the effort to mimic human skills and replicate human intelligence with machines. Various approaches have been used to build artificial intelligence over the years. In the 1980s and 1990s, “knowledge systems” were all the rage. Today, most modern AI uses a technique known as machine learning. Machines learn from examples in the form of training data. Most machine learning systems are built with artificial neural networks (ANN), also known more simply as neural networks.
Electricity, Digital Computers, and Artificial Intelligence
About 120 years ago, electrification changed the world. Electricity refrigerates our food, washes our clothes, lights our homes, and powers our factories. Electricity transformed every industrial sector and now powers modern life.
Roughly 60 years ago, the first digital computers were built. Initially limited in their capability, computers evolved into powerful machines that brought us word processing, spreadsheets, the internet, video games, social media, streaming media, and smartphones. Like electricity before them, computers transformed business and changed our lives.
Artificial intelligence will have an impact as profound as both electrification and the digital computer. AI luminary Andrew Ng is the former chief scientist at Baidu, former lead of the Google Brain project, and now runs Landing.ai, a company that solves manufacturing problems using AI. In 2017, Ng observed, “Just as electricity transformed almost everything 100 years ago, today I actually have a hard time thinking of an industry that I don't think AI will transform in the next several years.”
Artificial intelligence is a huge deal, worthy of the first and longest chapter of this book. Sundar Pichai, CEO at Google, once said, “AI is one of the most important things humanity is working on. It is more profound than, I dunno, electricity or fire.” While hyperbolic, this statement from the head of one of the world's most powerful tech companies should make us all sit up and listen.
AI's hype is largely justified. Just as digital technology was a vital component of any successful business strategy in the 1990s and 2000s, so AI must be central to strategic plans of the 2020s.
