Digital changes beliefs – Trend #3 of 8 from SXSW

The world is becoming infused with digital. The idea that a company should focus on its core competence doesn’t belong in the digital world. We need to look at how to solve problems in a completely different way, based on the capabilities that technology enables. Tim O’Reilly, the Founder and CEO of OReillyMedia explained this by making examples from five false “truths” of today:

 

In 2018, we are still trying to revive the old economy

…rather than inventing the future that is now possible

We need to start understanding the purpose and power of AI and algorithms since their scalability can help us create a better world. We are stuck in the old way of doing things and do not recognize the possibilities of shaping the future the way we want it with the help from new technology.

The idea that a company should focus on its core competence doesn’t belong in the digital world

– Tim O’Reilly – CEO and Founder of OReilleyMedia

 

In 2018, we are afraid that tech will put people out of work

…but in fact it will create millions of new ones.

Amazon automated warehouses with 45 000 robots – and created 250 000 new jobs due to a new business model with radically lower prices, creating demand for something that didn’t really exist and opening a platform for other to provide their services. Ecommerce today employs more people than the physical retail. We need to give people new superpowers – and put them to work, instead of competing with robots over the same kind of jobs.

 

In 2018, people still believe that tech is a magic bullet

…but it takes a massive amount of shots to be successful.

It’s the organization around that makes it work. Companies need to focus much more on aligning ways-of-working to realize technology potentials. We need to develop entire new business models, but we cannot do anything with just one shot, and we cannot only rely on the technology – the ecosystem around it also needs to work.

 

In 2018, we still think that companies should maximize profits

…instead they should maximize sharing and building an ecosystem with open source solutions.

We need to work together to create greater things and broaden our perspectives.

 

In 2018, we still don’t understand the value of humans

…technology can augment our capacity but we need to focus more on educating each other, creating networks of collaboration and learning and create partnerships between machines and humans.

We need to look at the world from a new perspective, where the notion of physical and digital is blurring into each other and where the eco system thinking prevails. Quarterly profits must be translated into yearly and decennial costs that are effects of short-term, unsustainable solutions filling the pockets of shortsighted shareholders. A business will always need to deliver profits, but in a responsible way. As Tim O’Reilly’s caption said “What’s the future? It’s up to us.”


 

 

 

 

SXSW is one of the biggest digital conferences in the world, and a global meeting place for the world’s most innovative technology companies and people interested in how disruption can transform their business and everyday lives. The event takes place during during 10 days each year and this year Cartina had the chance to be part of it.

This series consists of 8 global mega trends that business leaders, experts, innovators and disruptors talked about during the days in Austin. If you want to read the full report, click the button above and we will email it to you.

 

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