Two examples of automation Google recently demonstrated their virtual assistant called Duplex. Complete with ums and ahs, the system was able to make a stylist appointment and a restaurant reservation, convincingly human in mannerism and ability to navigate the twists and turns of the unstructured conversation. This automated warehouse by Ocado has countless battery-powered shuttles…
The death of brands? NYU professor and author Scott Galloway sees several trends that threaten consumer brands. Walmart and Amazon are in a never-ending struggle to lower prices, which means squeezing suppliers’ profits to the point where they can no longer afford the advertising needed to build a brand. Google search volumes for non-branded search…
Being an Olympian is hard Being an Olympic athlete is surely one of the most gruelling forms of competition in existence. You are competing with the best of the world, all of whom have trained from a tender age and sacrificed time, tears, blood, relationships and even long term health. The difference between gold and…
Only one wire Back in grade school, one of the smartest guys I ever met surprised me when I realized he didn’t understand that electricity had to flow in a circuit. His assumption seemed to be that electricity poured in, did its job and left, like air and fuel through an engine. It turns out…
Big changes for big automakers Automakers have been making vehicles for the same markets in the same way for generations. The vast majority of cars they produce are powered by a combustion engine and driven by its owner. Three key innovations are challenging this tried-and-true approach to mobility – electrification, ride sharing and autonomy. Successful incumbent…
Freed up for new opportunities? There are plenty of headlines predicting millions of jobs being destroyed by robots and artificial intelligence. Our experience with improving technology impacting jobs has, so far in human history, been a net positive, with new jobs emerging as fast as old ones are rendered obsolete. “Historically, technological advances have not…
A little validation We could all use a little validation. Lean startup and design thinking seek to validate ideas on their way to becoming innovations as early and often as possible by focusing on a paying customer. The lean startup strategy explicitly views paying customers as the litmus test of success. This makes sense for…
Innovation is a mindset Carol Dweck shares an important insight from her research in her book Mindset: The New Psychology of Success. People with a fixed mindset – those who believe that abilities are fixed – are less likely to flourish than those with a growth mindset – those who believe that abilities can be…
They reject ideas that won’t work As a leader, one of your functions is to protect the organization from bad ideas. Make the distinction between idea and innovation – innovation happens when an idea is implemented, its assumptions are tested, and lessons are learned. If the idea can’t be implemented in its current form, it…
1. How much can you afford to lose? Turning any idea into an innovation will cost some combination of time and money. Even if the resources and time are free or already paid for, consuming them in pursuit of any idea represents an opportunity cost. Could those same investments be made elsewhere for greater benefit?…