I have spent the last several months focused on all aspects of digital twins. The maturing of foundational building blocks has expanded their possibility space. Industrial applications are familiar to many, but the breadth of applications are now more visible. If we view digital twins through the lens of possibilities, we can apply them to the various challenges that continue to impact society. Using some of the UN sustainability goals as a guide, and with the help of ChatGPT via a question and answer session, let’s explore the possibilities:
Continue readingProductivity
The Profit Paradox
I finished another book and added it to my book library. The Profit Paradox was written by economist Jan Eeckhout and focuses on the decline of competition in the market. This decline, and the resulting dominance of large firms, has contributed to inequality, reduced innovation, and dropped the labor share of the economy.
Continue readingLong-Term Does Not Mean What It Used To
The news cycle these days makes it hard to catch our breath. More importantly, our focus is increasingly on short-term dynamics versus long-term trends. By long-term, I mean a little beyond what is right in front of us. I captured this thought in a Post last year: When someone says to me: “I’m not worried about five years from now”, my reaction is always the same. What looks to be five years out is likely only 18 months away: A phenomenon I describe in this piece on Acceleration.
Continue readingConsidering The lessons Of History
In exploring a Post Pandemic Society, I first took a look at what we could learn from history. A recent article took a similar view. Written by Kevin Sneader and Shubham Singhal, Their Look Back at History explores the experience of Japan, the United States, and Western Europe, post-World War Two. The article explores the inclusive growth that was sustained for two decades following the war. As technologies developed for war were adapted for peace-time use, poverty, government debt, and inequality fell, while living standards improved and prosperity spread broadly.
The Future Of The Office And Changing Work For The Better
Can we ever go back to the way things were? That’s the question Manon DeFelice asks in a recent Article that explores the return to the office. The article provides some interesting insights. For instance, about 62% of Americans say they have worked from home during the COVID-19 pandemic, according to a recent Gallup Poll. A majority (59%) of those individuals say that remote work would be welcome post-pandemic. One of the concerns often stated about remote work is the impact on productivity. Well, Ms. DeFelice shares results from a YouGov Survey that found 54% of professionals ages 18-74 felt that working from home has had a positive impact on their productivity.
The Rise Of the Smart City
In my ongoing search for signals that point to potential futures, I both stumble upon great insight, or am made aware of it. When it’s the latter, I wrestle with how much to share. I use the value of the insight as my decision criteria, and in the case of this smart city infographic, I am compelled to share. However, this insight (and all other signals) must be viewed through the lens of the current pandemic. What, if anything, is impacted as a result of changes in human behavior? For example, will the projections of mass urbanization hold, or will fear of living in dense areas reverse that trend – essentially serving as an obstacle? Does the city revenue shortfall accelerate the march towards a Next Generation of Productivity? Does a growing appreciation for science shine a light on climate change, thereby accelerating the focus on sustainability?
From Automation to Hyper-Automation
In a recent Article, Gartner says that no single tool available today can replace humans in the workplace. The article goes on to say that hyper-automation is a response to this challenge – bringing together different tools, technologies and techniques to amplify every company’s ability to automate more processes, more rapidly, with better results.
It is no secret that productivity has slowed. In a Post from 2016, I described this phenomenon in detail. According to Wikipedia, productivity is an average measure of the efficiency of production. It can be express
ed as the ratio of output to inputs used in the production process. In a Citi Report I shared in that post, they describe the significant slowing of labor productivity growth, which drives a focus on next generation gains. But In spite of technological progress and innovation, measured productivity growth is low by historical comparison.
The Future of Employee Compensation
A recent Article on the future of work focused on an important piece of the story: a future employee compensation model. Author Dwight Chestnut proposes a new model that he calls the Empowered Employee Compensation Model (EECM). This new workplace compensation model was the result of a new economic research initiative. The model replaces hourly wages, salaries and benefits with ten new income resources and benefits and is projected to drive a three-fold increase in the aggregate standard of living.
Automation to Destroy 200,000 Banking Jobs
A recent Article states that automation will result in the biggest reduction in headcount across the U.S. banking industry in its history, with an estimated 200,000 job cuts over the next decade – this according to Wells Fargo & Co.
Digital: We’ve Only Just Begun
“Digitization has barely started, and so has the accompanying upheaval”
– Jacques Bughin, Mckinsey
That’s a scary thought – but accurate. That thought comes from a recent Mckinsey Insights post titled: Think digital is a big deal? You ain’t seen nothing yet. Thanks to Heidi Schwende for sharing this article.
Their research finds that digital technologies and processes have penetrated only about 35% of an average industry, which says that a third of the products and operations that could be digitized have been. Yet this is more than thinking about digitizing the other 65% – it’s a moving target. The phrase “You ain’t seen nothing yet” captures that well. As the innovation accelerators that I describe in my Anchor Visual accelerate, digital is merely the foundation. A reimagined world is built on that foundation – and without it, organizations cannot participate in Reimagination. Here are other key insights from the Mckinsey post:
See the Future, Rehearse it and Adapt to the Inevitable Shifts
In my last post, I described a Sense and Respond model that sits at the heart of several activities, including scenario, opportunity, and risk analysis. As complexity and pace continue to intensify, uncertainty increases. To survive in this Emerging Future, we must embrace a framework for future thinking, and an organization that can adapt as it shifts. In essence, we must see the future, rehearse it, continuously monitor for shifts, and adapt as the shifts occur. A sense and respond model sits at the core of the framework – but represents the biggest cultural challenge.
Next Generation Productivity
In a recent post, I focused on a series of emerging shifts and the transformation pillars that enable a re-imagined future. In this post, I will dive into one of those pillars: next generation productivity. According to Wikipedia, productivity is an average measure of the efficiency of production. It can be express
ed as the ratio of output to inputs used in the production process. In a recent Citi Report, they describe the significant slowing of labor productivity growth, which drives a focus on next generation gains. But In spite of technological progress and innovation, measured productivity growth is low by historical comparison. They cite these growth statistics across advanced economies.
The Year of Shifts
The year of shifts is upon us. 2016 will ultimately be viewed as the bridge to a different future; a year where our intuition and beliefs will be reset. Accelerating advancements across science and technology have set the foundation for these shifts. Driven by societal and economic challenges, we will leverage this foundation to change current institutions and build new ones. To succeed, organizations of all types must view transformation through a different lens; one that enables their role in this future. In my current series, I am focusing on the thirteen (13) key enablers of future viability. The first post explored Structural Change. In this post, I will look closer at the pillars of transformation, and delve into the second enabler: a holistic digital foundation.
Reimagining the Future 
