article

NP Talks - 001 - Navigating Change

[WHAT]

] by __ @ __ - [SUMMARY][90:00][VIDEO] Bruce Croxon hosts a panel of experts discussing 'disruption' in the Canadian economy. I have created a summary transcript, highlighte the
] WHY SECTION - condenses the entire 90:00 minute talk into (#) key point takeaways.
] EXAMPLE SECTION - is an annotated notes from the video
] WHERE - is a link to the full talk[VIDEO], hosted at (public) facebook (no fb account required to view)
] WHEN =

[WHY]

] winter(AI) is coming, u need to deal,
] understand and recruit (m)illenials and gen (z), they will represent 45% NA spend, they are/will be your employees, your customers
] m+z values = ] sustainability, ] environment, ] mobility, ] lifelong learning,
] m+z = ] they are very different, ] 8 second attention span ] deliver better outcomes,
] some enterprise companies still run their businesses on a whiteboard,
] some enterprise companies perception of going digital - "digital is the web right? mobile?
] never a better time for understanding customers,
] how to connect with watson
] += bruce - amount of data
] we've got to do a lot more and we've got to do it a lot faster
] SEAN -

[WHERE]

] WATCH THE FULL VIDEO

] https://www.facebook.com/NationalPost/videos/vb.110225254594/10155156163204595/

[WHEN]

] 2017-03-27 09:00 - talk was recorded,
] 2017-03-30 - this summary article was published

[EXAMPLE]

[00:00] intro talk & host

= change - disruptor, not a destructor

[06:30] bruce

- start with panel introduction

- then discussion on wide range topics

- finish with 10 minute Q + A at the end

[00:00] panel intro

] claire brunelle - feature writer, tech in the future,(meat in labs, thought control of ipad

] drew hassellback - legal editor of fp, lawyers adopting, tremendous innovation, some insights into

] paul zikopoulos - big data at ibm, 19 books, board women 2.0, analytics

] sean murphy - MeyersNorsePenny MNP, To,ca, change agent in pro services, ran boutique consultings, focused on mid market

[00:00] bruce

- dad is 89, tech with it, news from twitter, uber's # 1 user, other news is FP

- biggest period of change, - first gen, came over on boat, will never forget sound of boat propeller

- jet engine - made the world a much smaller place, 5 hours instead of 7 days, globe became a small spot

- me - mid 90s - the internet - my world shrinking event, - info for everyone, communication

- now - second most profound period of change - data - devices, how much information those devices deal with every day , more data in the last year then in other time in history

- a lot of that data is not particulary useful, a lot of it is

- successful companies take that data and make use of it to ...

- consumer point of view - never been a better time

- will never drive downtown TO again, as long as uberx in business, 40% cheaper, clean

- dont go anywhere without checking airbnb

- small business, good news- never been easier, bad news - never been easier

- founded lavalife in the 80's, tech was complicated, expensive, today no

- for larger enterprises, have to work hard to stay innovative

[00:00] claire

- where things are on the 'hype cycle' -wearables are dead, -blockchain is dead

- closer - ai, data analytics

- most peope think about - terminator

- ex netflix - recommends movies you like by using machine learning

- ex google images -

- bc] story about recent pitch for - pet snack serving machine, pet choosing snacks, captures reaction

- banks can use that tech to ... - ] monitor card transactions, ] make recommendations for trips, where to find good exchange rate

- hearing a lot about ai, talk more about it in the panel

- VS trump, not more jobs coming from ai, less

[22:00] paul z.

- bruce > IBM big shop, poster child of adaption, in tough now, has been disrupted, thought of as big iron company(hw), what is the 'data answer'

- stock is moving up 30% , buffett is heavily in

- asked why dont i use an IBM laptop

- divested 12B of revenue, hard to grow

- massive shift,

- ai, big data analytics, mobile security and collaborations

- requires employee turnover, because of right skills

- 1 thing for every one to think about

- new collar jobs, where are we going to grab the people

- >b - oversimplifieid - ] no tech barriers to entry, ] its all about sales and marketing

- good news for vc, need to spend a lot of money to grab and keep customers, what does next generation look like?

- involved with queens u to add data science to their business curriculum

- valuable point to understaning the next generation, where your employees are going to come from, as well as your customers

- gen Z & millenials will represent 45% of north american spend

- very different people, their attention span is 8 seconds, they wanna be ] mobile, ] understand transparency, ] they believe in the enviroment, sustainability ] lifelong learners

- to attract talent - understand people - get comfortable with change - these are the

- night and day difference between these peope and the 9-5ers, in outcomes, energy levels, ...

- recruiting right talent is super important,

[28:00] sean murphy

- agree with what paul said,

- reminded of my daugher, everything in her world, exists on the phone

- working with large organizations, some still manage their businesses on a whiteboard, they are beyond the tipping point

- no formal contracting mechanisms between customers, suppliers

- recommend they formalize around 1] financial systems

- minute you start disrupting with tech,

- many clients perceptions i that " digital is the web, mobile, right?"

- outcomes, profitability, growth

- my dad, 77, very effective on "the computer", surfs for 'deals, news',

- how to explain in terms of profitability and growth , start a dialogue

- never been a better time to understand who your customers, easier(we understand them better) or tougher(so much choice)?

- never seen things been so disposable, ex walmart, amazon

- same with web services, there is no switching costs

- we provide ourselves "years relationship", build on annuity income

- reality of AI, the accounting industry is ripe for disruption, what does the mean to the "years relationship",

[36:00] drew h.

bruce > - hubdoc - customer is accountants - saves accountants hours of time by using software to get and file reciept/expenses, provide higher value services on tax, saving money etc. is there anything like that in the legal industry?

- 2 parts of law, for every question - same answer : it depends

- thinking part

- series of processes that are entirely predictable

- predictable processes = opportunity to automate them, mine for data, to replicate, to simplify them

- EX beagle - read contracts for lawyers, extracts information the laywer needs from the contract,

- lumam analytics - mine the db of cdn reported decisions, can be studied, when you have processing capacity to go through all the data(whole body of decisions), you can pick out patterns, this will enable lawyers to provide extra/go deeper

[36:30] paul z

> bruce., takes us through the process, say i am entrepeneur, i want to launch a disruptive service to the accountant or legal market, do i just connect with someone on the watson team and say this is what i need from a data perspective?

- that would be an antiquated engagement model, that will work for the lar..

- weve been teaching watson since jeopardy

- guarantee you that in 3 years you will know someone whose life was saved by reading 50 million documents on cancer

- never been a better time to lose a customer or never been a better time to keep a customer

- first big success(pardigm) of semiconductors - dell,

- second big success(paradigm) of network - alibaba, amazon, facebook,

- not everyone can do(take advantage) of that, SME

- what you can do - use your data, 90% of worlds data is not google able

- guilty of not knowing what you know

- use microservices, discreet components of , rent

- api - all services ,

- eX - USE donald trump speech TO assess personality -

- eX - USE to analyze all communications with a customer of your to determine

[40:00]

>bruce - more efficient, where are the jobs coming from, where is inflatiion coming from, are people going to be hiring?

- not wo man VS machine - its about augmentation, its going to create change

- we have to change the types of skills that we are doing, all the way down to elementary school level

- new and innovative, new skills, raise the standard of living of all canadians, outside of a mandatory min wage job

[42:30]

- drew - i agree completely - sense that new jobs will all be coding/engineering, that may help,

- creative person can benefit just as well

- take what the software can provide you, then build on that

- eX - google translate - amazing, accurate, 20 years ago - programs were terrible, if your good at grammar, you can game it to work more effectively, if you really understand what the software is going to do

> bruce - not convince that its going to be a better world, there use to be people to do that, i'll paint a different picture it, fast forward 10 yrs, we have a PT economy, we have a guranteed min wage for all in NA, w/out economy wont move forward, (elon musk idea)

- is that guaranteed min wage just enough to buy a Tesla?

[45:00]

- SEAN dont know if i agree,

- discussion about critical thinking skills, judgement skills, part of the curriculum today, never been more important

- inputs we get every day - google news, fake news, what you a

- what you are interpretting, what you are making decisions on, what are we bring in today, that becomes the tradecraft

- are we in the same job, same careers, that story has been over for 20 years

- we are in a series of different careers,

- this is what i talk to my kids about, "your just starting", "lifelong learning path", "absolutely critical" your career will shift,

- comes back to fundamental thinking skills

- is it going to shift because someone told you to or ...

[47:00]

- STEM focus, kids are already attached to this

- EX chatbot laywer for parking tickets, guy is not a programmer, using the web to create interactive expericence to fight parking tickets

- creative idea, solved a real problem

- more excited than scared

[48:00] drew

- now if machine can do it for you

[48:00] > bruce - fake news

- watching 60m, favorite program, dont watch live tv, topic was fake news, profiled people making big $$$, producing

- i think, fake news, is the issue of our time

- make it worse, that poli like Trump, calling credible sources,

- humbling to do the work - interview,

- makes you wonder if its worth it

- in the end, facts will win

- putting a lot of stock in gen Z, they are skeptical, they are in tune with hard facts

- have to drill down into demographics of people consuming fake news

- infowars is not a site you can cite

- love the comment about gen Z,

- talk about transparency

- we need some sort of distributed trust mechanism

- technology: blockchain

- this technology will completely transform

>[00:00] sean

- want to share drews optimism,

- just because its top result in google, doesnt mean its trustworthy

- agree we need mechanism

- difference between entertainment and news

- versign - trust is by 3rd party

- western union as money transfer is dead in 3 years

[56:00] summary - how to be be better equipped, to either disrupt or be disrupted

- SEAN - new to mnp role, from small firm to much larger entity, to inspire

- its about experimentation, find small winds, create little opportunities,

- try it, if it doesnt work, try next iteration, fail fast

- PAUL - lift , shift, riff, or cliff,

- to clean your room you have to be in your room - shocked at how many people in the room dont understand how their company runs.

- DREW - dont ever fall into the hole of thinking what you do is so unique you cant be replaces, from time to time go through your day and boil it down to the steps that you do (identify repeatable, common)

- clair - fooseball table, long tables, engaging in innovation theatre

- hire a diverse workforces, low % of women/color in tech, huge untapped potential

- US may not be the place to go

- from a tech perspective, this is our time,

- we can hold our own, the capital is starting to flow, the depth of talent is still a bit of a problem, but getting better

- this is a great place to do business and a great place to hang out

[62:00] Q + A

- TO is booming, we love #innovation, what do we say to those who say innovation led to hollowing of downtown cores in us,

- watched documentary on vice

- downtown detroit, rejuvenated, led by fintech

- no panacea, discussion of airbnb, successfull, arguement is in communities where you cant afford real estate, keeping property prices up, counting on future revenue from airbnb,

- don't see where inflation is going to come from ...

- pessimistic - the best idea i have is put you back in the coal mine,

- a short 4 year blip

[69:00] Q2

- comment - airbnb + uber, - obsolete models, data aggregators, but with blockchain we dont need them,

- question - what is the new model?

- dont know,

- data science companies, pricing varies based on your

- they will get disrupted, not there yet

- DAO - distributed autonomous

- sensors that talk to other sensors, EX amazon alexa, the only woman in the house that listens to me

- attention spans are shortening, but i believe

- banks have not done a good job looking after SMB

- EX fintechs - cant acquire a customer for < ltv of customer

[75:00] Q3

- rental process application was using application to judge your personality, it turned into a human right issue

- bruce> favorite topic, appreciate that i dont understand a lot of time buying stuff,

- do they know more about me than i want, no

- i am a relatively open book

- how smart a machine gets

- drew> a legal/human rights issue

- claire> importance of a diverse workforce

- google ai team got in trouble, for tagging images

> bruce: US election, got elected, everyone seems to have forgotten the things that he said the day before

- ai decision making should have transparency in regards to decision making process

- because, google, facebook, twitter

- as consumers we should be understanding the terms of service we agree to

- closing

[82:00] bruce - exclusive interviews

> bruce: i love being a consumer, appreciative about the amount of knowlegs

- what about the flip side, risk to revenue,

- no reason for you (as a business) not to know,

- crux: do it before somebody else does,

- their are no secrets anymore

[00:0] sean:

im part of disruptive events, oh no ... - how can we disrupt,

- different way of thinking, stems from innovation,

- why cpa designation when

- being able to talk the money game

[89:00] Paul Z

- new collar - some of the jobs we havent even thought of

- education - online, formal,

- ai - not just watson, not just man v machine, not about t3, recognize we should do what were good at (humans), computers should do what there good at -

- superclusters -

- weve got to do a lot more and weve got to do it a lot faster

[HOW-TO]

]

[REFERENCE]

] SRC = researching article, this was RELATED link on page,

[RELATED]

] # # - whats in the canadian gov's federal budget for startup companies
x] # 5672 - SUMMARY-PODCAST-betakit-episode-060 -
]
] # # - #budget2017 - overview

Details Photos Edit more