Sections

The Da Vinci Code To The Internet of Things (IoT)

Richard Howells

Over the holiday, I spent a great afternoon at the Boston Museum of Science, which is currently running an exhibition called “Da Vinci – The Genius.” The exhibition brings to life the genius of Leonardo da Vinci as an inventor, scientist, engineer, architect, sculptor, and artist.

On display were interactive and life-size machine inventions, built by Italian artisans, who worked from Leonardo’s codices. Among other things they have built: the first concepts of a car, bicycle, helicopter, parachute, scuba, a forerunner to the modern military tank, and an ideal city.

Da Vinci was, without a doubt, an innovator, someone way ahead of his time. Leonardo carries instant, universal recognition – both as a name and as the figure known for ushering in a groundbreaking era of science and discovery. I can only imagine what he would think of how some of his concepts have been realized, enhanced, and empowered in today’s world of connected products, assets, and vehicle fleets. Or how they would be implemented across the Internet of Everything by connecting infrastructures, markets, and people in today’s world.

Here are a few of Leonardo’s inventions and ideas, and how they have evolved over the years:

From self-propelled cart to connected car

Hundreds of years before the motorized vehicle, Leonardo da Vinci designed a self-propelled cart that was powered by coiled springs and controlled by steering and brake capabilities.

In today’s world, that primitive design can be seen in connected cars, which are tracked by hundreds of sensors to run real-time analysis on steering, breaking, and other systems to predict performance issues and defects.

From an ideal city concept to an actual ideal city

Da Vinci’s ideal city concept was a result of a plague that killed off nearly a third of the population of Milan. Leonardo wanted to design an ideal city with greater communications, services, and sanitation to prevent the future spread of such diseases. His ideal city concept included wider streets that would be cleaned via a paddlewheel system and underground waterways that would carry away garbage.

Today, connectivity is making da Vinci’s vision of an ideal city a reality. With the rise of automation, cities can improve the environment, health, and safety of urban areas while benefiting from smoother traffic flows, more orderly parking, and the increased management of local buildings, lighting, public spaces, yards, ports, and other infrastructure forming the modern-day urban landscape.

From a robotic knight to robotics in the workplace

Da Vinci also incorporated a series of pulleys, weights, and gears to design what many believe to be the first robot. His robotic knight was designed for a pageant in Milan. It consisted of a knight suit fitted with gears and wheels and connected to a pulley-and-cable system that would enable the figure to sit down, stand up, move its head, and lift its visor.

Robotics today are commonplace throughout warehouses and manufacturing facilities around the world. We have drones and driverless vehicles that deliver goods, warehouses that run completely “lights out,” and production facilities that can be controlled and configured in a “to-order” capacity, as supply chain experts strive for a market of one.

From helicopters and flying machines to connected assets and fleets

Leonardo da Vinci was so far ahead of his time as an innovator, it’s incredible to imagine what he could have dreamed up if he were around today – particularly with access to Big Data and real-time insight into nearly every product manufactured, every piece of equipment used, every vehicle in motion, every building in use, and every person on the planet, at any given time.

IoT makes literally everything connected or connectable, from the products we make to the people that use them:

  • Connected products means new insights throughout the product lifecycle, from design, to production, to delivery, to the end of a product’s life.
  • Connected assets can be tracked, monitored, analyzed, and maintained proactively to reduce operational and maintenance costs and increase equipment uptime.
  • Connected fleets of vehicles, robots, forklifts, and autonomous vehicles can be monitored, maintained, and optimized to improve services, safety, visibility, and service quality.
  • Connected infrastructure can improve digital operational intelligence of physical infrastructure systems, construction, and energy grids enabling improved service, efficient operations, and compliance and risk mitigation.
  • Connected markets can optimize rural and urban areas to better enable new production and enhance assets, space, and our natural resources.
  • Connected people enable more insightful, collaborative work roles, health management, and smart-home environments by connecting people and communities and providing better, more personalized lifestyle experiences.

As Leonardo da Vinci once said, “It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things.”

Maybe he had a vision for how we should leverage things – way before the rest of us.

Learn more about the SAP Leonardo Innovation Portfolio and how you can get started to understand the value of IoT for your business.

(Public domain image via Wikimedia Commons)

Comments

About Richard Howells

Richard Howells is a Vice President at SAP responsible for the positioning, messaging, AR , PR and go-to market activities for the SAP Supply Chain solutions.

Will The Collaborative Economy Completely Reimagine Tomorrow's Big Business?

Daniel Newman

Today, the largest car rental and hospitality companies are Uber and Airbnb, respectively. What do they have in common? Let’s see — neither of them own physical possessions associated with their service, and both have turned a non-performing asset into an incredible revenue source.

Don’t be surprised, because this is the new model for doing business. People want to rent instead of own, and at the same time, they want to monetize whatever they have in excess. This is the core of the sharing economy. The concept of earning money by sharing may have existed before, but not at such a large scale. From renting rooms to rides to clothes to parking spaces to just about anything else you can imagine, the sharing economy is rethinking how businesses are growing.

What’s driving the collaborative economy?

The sharing economy, or the collaborative economy, as it’s also called, is “an economic model where technologies enable people to get what they need from each other—rather than from centralized institutions,” explains Jeremiah Owyang, business analyst and founder of Crowd Companies, a collaborative economy platform. This means you could rent someone’s living room for a day or two, ride someone else’s bike for a couple of hours, or even take someone’s pet out for a walk—all for a rental fee.

Even a few years ago, this sort of a thing was unthinkable. When Airbnb launched in 2008, many people were skeptical, as the whole idea seemed not only irrational, but totally stupid. I mean, why would anyone want to spend the night in a stranger’s room and sleep on an air bed, right? Well, turns out many people did! Airbnb moved from spare rooms to luxury condos, villas, and even castles and private islands in more than 30,000 cities across 190 countries, and rentals reached a staggering 15 million plus last year.

What is driving this trend? Millennials definitely play a role. Their love for everything on-demand, plus their frugal mindset, makes them ideal for the sharing economy. But the sharing economy is attractive to consumers across a wide demographic, as it only makes sense.

How collaborative economy is reshaping the future of businesses

Until recently, collaborative-economy startups like Uber and Airbnb were looked upon as threats. Disuptors to any marketplace are usually threatening, so this isn’t surprising. Established businesses that were accustomed to the way things had always been did (and still do) rail against companies like Uber or AirBnB, yet consumers seem to love them. And that’s what matters. Uber has faced many harsh criticisms, yet it continues to provide more than a million rides a month.

We are living in an era of consumer-driven enterprise, where consumers are at the helm. Perhaps this is the biggest reason why the collaborative economy is here to stay. No matter what industry, companies are trying to bring customers to the fore. A collaborative business model allows customers to call the shots. A great example is the cloud, which relies on resource sharing and allows users to scale up or down according to their needs.

Today, traditional businesses are participating in a collaborative economy in different ways. Some are acquiring startups. General Motors, for example, invested $3 million to acquire RelayRides, a peer-to-peer car sharing service. Others are entering into partnerships like Marriott, which partnered with LiquidSpace, an online platform to book flexible workspaces. Other brands, like GE, BMW, Walgreens, and Pepsi are also stepping into the collaborative-economy space and holding the hands of startups instead of competing with them.

Changes in the workplace

Remote work and telecommuting has taken off as companies become more comfortable with the idea of people working outside their offices, and cloud technology is enabling that. Now, let’s look at the scenario from the lens of the sharing economy. With companies looking to find temporary resources that can meet the fast-changing demands of the business, freelancers could replace a large chunk of full-time professionals in future. Why? Because at the heart of this disruptive practice lies the concept of sharing human resources.

As companies set out to temporarily use the services of people to meet short- and medium-term goals, it’s going to completely change the way we build companies. Also, as we have seen through the growth of companies like Airbnb and Uber, it’s going to change the deliverables that companies provide. With demand changing and technology proliferating at breakneck speed, it’s not just important that businesses start to see and adopt this change; it’s imperative because companies that over-commit to any one thing will find themselves obsolete.

When it comes to workplaces, so much is happening today that it’s impossible to predict where things are ultimately headed. But one thing is for sure: The collaborative economy is not going anywhere as long as our priorities are built around better, faster, more efficient and cost-effective.

Want more insight on today’s sharing economy? see Collaborative Economy: It’s Real And It’s Disrupting Enterprises.

This article was originally seen on Ricoh Blog.

The post Will the Collaborative Economy Completely Reimagine Tomorrows Big Business appeared first on Millennial CEO.

Photo Credit: Pedrolu33 via Compfight cc

Comments

About Daniel Newman

Daniel Newman serves as the Co-Founder and CEO of EC3, a quickly growing hosted IT and Communication service provider. Prior to this role Daniel has held several prominent leadership roles including serving as CEO of United Visual. Parent company to United Visual Systems, United Visual Productions, and United GlobalComm; a family of companies focused on Visual Communications and Audio Visual Technologies. Daniel is also widely published and active in the Social Media Community. He is the Author of Amazon Best Selling Business Book "The Millennial CEO." Daniel also Co-Founded the Global online Community 12 Most and was recognized by the Huffington Post as one of the 100 Business and Leadership Accounts to Follow on Twitter. Newman is an Adjunct Professor of Management at North Central College. He attained his undergraduate degree in Marketing at Northern Illinois University and an Executive MBA from North Central College in Naperville, IL. Newman currently resides in Aurora, Illinois with his wife (Lisa) and his two daughters (Hailey 9, Avery 5). A Chicago native all of his life, Newman is an avid golfer, a fitness fan, and a classically trained pianist

How One Business Approach Can Save The Environment – And Bring $4.5 Trillion To The World Economy

Shelly Dutton

Despite reports of a turbulent global economy, the World Bank delivered some great news recently. For the first time in history, extreme poverty (people living on less than $1.90 each day) worldwide is set to fall to below 10%. Considering that this rate has declined from 37.1% in 1990 to 9.6% in 2015, it is hopeful that one-third of the global population will participate the middle class by 2030.

For all industries, this growth will bring new challenges and pressures when meeting unprecedented demand in an environment of dwindling – if not already scarce – resources. First of all, gold, silver, indium, iridium, tungsten, and many other vital resources could be depleted in as little as five years. And because current manufacturing methods create massive waste, about 80% of $3.2 trillion material value is lost irrecoverably each year in the consumer products industry alone.

This new reality is forcing companies to rethink our current, linear “take-make-dispose” approach to designing, producing, delivering, and selling products and services. According to Dan Wellers, Digital Futures lead for SAP, “If the economy is not sustainable, we are in trouble. And in the case of the linear economy, it is not sustainable because it inherently wastes resources that are becoming scarce. Right now, most serious businesspeople think sustainability is in conflict with earning a profit and becoming wealthy. True sustainability, economic sustainability, is exactly the opposite. With this mindset, it becomes strategic to support practices that support a circular economy in the long run.”

The circular economy: Good for business, good for the environment

What if your business practices and operation can help save our planet? Would you do it? Now, what if I said that this one business approach could put $4.5 trillion up for grabs?

By taking a more restorative and regenerative approach, every company can redesign the future of the environment, the economy, and their overall business. “Made possible by the digital economy, forward-thinking businesses are choosing to embrace this value to intentionally reimagine the economy around how we use resources,” observed Wellers. “By slowing down the depletion of resources and possibly even rejuvenating them, early adopters of circular practices have created business models that are profitable, and therefore sustainable. And they are starting to scale.”

In addition to making good financial sense, there’s another reason the circular economy is a sound business practice: Your customers. In his blog 99 Mind-Blowing Ways the Digital Economy Is Changing the Future of Business, Vivek Bapat revealed that 68% of consumers are interested in companies that bring social and environmental change. More important, 84% of global consumers actively seek out socially and environmentally responsible brands and are willing to switch brands associated with those causes.

Five ways your business can take advantage of the circular economy

As the circular economy proves, business and economic growth does not need to happen at the cost of the environment and public health and safety. As everyone searches for an answer to job creation, economic development, and environmental safety, we are in an economic era primed for change.

Wellers states, “Thanks to the exponential growth and power of digital technology, circular business models are becoming profitable. As a result, businesses are scaling their wealth by investing in new economic growth strategies.”

What are these strategies? Here are five business models that can enable companies to unlock the economic benefits of the circular economy, as stated in Accenture’s report Circular Advantage: Innovative Business Models and Technologies that Create Value:

  1. Circular supplies: Deliver fully renewable, recyclable, and biodegradable resource inputs that underpin circular production and consumption systems.
  2. Recovery of resources: Eliminate material leakage and maximize the economic value of product return flows.
  3. Extension of product life: Extend the life cycle of products and assets. Regain the value of your resources by maintaining and improving them by repairing, upgrading, remanufacturing, or remarketing products.
  4. Sharing platforms: Promote a platform for collaboration among product users as individuals or organizations.
  5. Product as a service: Provide an alternative to the traditional model of “buy and own.” Allow products to be shared by many customers through a lease or pay-for-use arrangement.

To learn more about the circular economy, check out Dan Wellers’ blog “4 Ways The Digital Economy Is Circular.”

Comments

Teaching Machines Right from Wrong

Dan Wellers

 

By 2018, smart machines will supervise over 3 million workers worldwide.
21% of consumers in an FTC study had confirmed errors on their credit reports.
2014: the first annual Fairness, Accountability, and Transparency in Machine Learning conference.
A private university encouraged 20-25 students to drop out based on AI predictions of
poor grades.

Real-world examples of misused AI algorithms abound. These are just a few:

  • Women who weren’t pregnant — or weren’t ready to reveal it — received special offers of baby products and “congratulatory” messages.
  • People with minority ethnic names received a disproportionate number of ads implying they had criminal records.
  • Guests at a party learned a ride-hailing company kept track of customers who stayed out all night and went home in the wee hours.

Ethical-Edge Cases

Credit scoring algorithms designed to evaluate lending risk are now commonly used to gauge reliability and trustworthiness, determining whether someone should get a job or apartment.

Insurance underwriting algorithms determine the extent, price, and type of coverage someone can get, with little room for disagreement.

Healthcare algorithms could be used to penalize the currently healthy for their probability of future illness.

Algorithms often use zip codes as proxy for (illegal) racial profiling in major decisions, such as employment and law enforcement.

Self-driving cars will have to learn how to react in an accident situation when every possible outcome is bad.


What Should We Do About It?

All machine learning contains assumptions and biases of the humans who create it — unconscious or otherwise. To ensure fairness, business leaders must insist that AI be built on a strong ethical foundation.

We can:

  • Monitor algorithms for neutrality and positive outcomes.
  • Support academic research into making AI-driven decisions more fair, accountable, and transparent.
  • Create human-driven overrides, grievance procedures, and anti-bias laws.
  • Include ethics education in all employee training and development.

Above all, we must consider this a human issue, not a technological one. AI is only as unbiased a tool as we make it. It’s our responsibility to keep it on the ethical straight and narrow.


Download the executive brief Teaching Machines Right from Wrong.


Read the full article AI and Ethics: We Will Live What Machines Learn

Comments

About Dan Wellers

Dan Wellers is the Global Lead of Digital Futures at SAP, which explores how organizations can anticipate the future impact of exponential technologies. Dan has extensive experience in technology marketing and business strategy, plus management, consulting, and sales.

Tags:

Why Millennials Quit: Understanding A New Workforce

Shelly Kramer

Millennials are like mobile devices: they’re everywhere. You can’t visit a coffee shop without encountering both in large numbers. But after all, who doesn’t like a little caffeine with their connectivity? The point is that you should be paying attention to millennials now more than ever because they have surpassed Boomers and Gen-Xers as the largest generation.

Unfortunately for the workforce, they’re also the generation most likely to quit. Let’s examine a new report that sheds some light on exactly why that is—and what you can do to keep millennial employees working for you longer.

New workforce, new values

Deloitte found that two out of three millennials are expected to leave their current jobs by 2020. The survey also found that a staggering one in four would probably move on in the next year alone.

If you’re a business owner, consider putting four of your millennial employees in a room. Take a look around—one of them will be gone next year. Besides their skills and contributions, you’ve also lost time and resources spent by onboarding and training those employees—a very costly process. According to a new report from XYZ University, turnover costs U.S. companies a whopping $30.5 billion annually.

Let’s take a step back and look at this new workforce with new priorities and values.

Everything about millennials is different, from how to market to them as consumers to how you treat them as employees. The catalyst for this shift is the difference in what they value most. Millennials grew up with technology at their fingertips and are the most highly educated generation to date. Many have delayed marriage and/or parenthood in favor of pursuing their careers, which aren’t always about having a great paycheck (although that helps). Instead, it may be more that the core values of your business (like sustainability, for example) or its mission are the reasons that millennials stick around at the same job or look for opportunities elsewhere. Consider this: How invested are they in their work? Are they bored? What does their work/life balance look like? Do they have advancement opportunities?

Ping-pong tables and bringing your dog to work might be trendy, but they aren’t the solution to retaining a millennial workforce. So why exactly are they quitting? Let’s take a look at the data.

Millennials’ common reasons for quitting

In order to gain more insight into the problem of millennial turnover, XYZ University surveyed more than 500 respondents between the ages of 21 and 34 years old. There was a good mix of men and women, college grads versus high school grads, and entry-level employees versus managers. We’re all dying to know: Why did they quit? Here are the most popular reasons, some in their own words:

  • Millennials are risk-takers. XYZ University attributes this affection for risk taking with the fact that millennials essentially came of age during the recession. Surveyed millennials reported this experience made them wary of spending decades working at one company only to be potentially laid off.
  • They are focused on education. More than one-third of millennials hold college degrees. Those seeking advanced degrees can find themselves struggling to finish school while holding down a job, necessitating odd hours or more than one part-time gig. As a whole, this generation is entering the job market later, with higher degrees and higher debt.
  • They don’t want just any job—they want one that fits. In an age where both startups and seasoned companies are enjoying success, there is no shortage of job opportunities. As such, they’re often looking for one that suits their identity and their goals, not just the one that comes up first in an online search. Interestingly, job fit is often prioritized over job pay for millennials. Don’t forget, if they have to start their own company, they will—the average age for millennial entrepreneurs is 27.
  • They want skills that make them competitive. Many millennials enjoy the challenge that accompanies competition, so wearing many hats at a position is actually a good thing. One millennial journalist who used to work at Forbes reported that millennials want to learn by “being in the trenches, and doing it alongside the people who do it best.”
  • They want to do something that matters. Millennials have grown up with change, both good and bad, so they’re unafraid of making changes in their own lives to pursue careers that align with their desire to make a difference.
  • They prefer flexibility. Technology today means it’s possible to work from essentially anywhere that has an Internet connection, so many millennials expect at least some level of flexibility when it comes to their employer. Working remotely all of the time isn’t feasible for every situation, of course, but millennials expect companies to be flexible enough to allow them to occasionally dictate their own schedules. If they have no say in their workday, that’s a red flag.
  • They’ve got skills—and they want to use them. In the words of a 24-year-old designer, millennials “don’t need to print copies all day.” Many have paid (or are in the midst of paying) for their own education, and they’re ready and willing to put it to work. Most would prefer you leave the smaller tasks to the interns.
  • They got a better offer. Thirty-five percent of respondents to XYZ’s survey said they quit a previous job because they received a better opportunity. That makes sense, especially as recruiting is made simpler by technology. (Hello, LinkedIn.)
  • They seek mentors. Millennials are used to being supervised, as many were raised by what have been dubbed as “helicopter parents.” Receiving support from those in charge is the norm, not the anomaly, for this generation, and they expect that in the workplace, too.

Note that it’s not just XYZ University making this final point about the importance of mentoring. Consider Figures 1 and 2 from Deloitte, proving that millennials with worthwhile mentors report high satisfaction rates in other areas, such as personal development. As you can see, this can trickle down into employee satisfaction and ultimately result in higher retention numbers.

Millennials and Mentors
Figure 1. Source: Deloitte


Figure 2. Source: Deloitte

Failure to . . .

No, not communicate—I would say “engage.” On second thought, communication plays a role in that, too. (Who would have thought “Cool Hand Luke” would be applicable to this conversation?)

Data from a recent Gallup poll reiterates that millennials are “job-hoppers,” also pointing out that most of them—71 percent, to be exact—are either not engaged in or are actively disengaged from the workplace. That’s a striking number, but businesses aren’t without hope. That same Gallup poll found that millennials who reported they are engaged at work were 26 percent less likely than their disengaged counterparts to consider switching jobs, even with a raise of up to 20 percent. That’s huge. Furthermore, if the market improves in the next year, those engaged millennial employees are 64 percent less likely to job-hop than those who report feeling actively disengaged.

What’s next?

I’ve covered a lot in this discussion, but here’s what I hope you will take away: Millennials comprise a majority of the workforce, but they’re changing how you should look at hiring, recruiting, and retention as a whole. What matters to millennials matters to your other generations of employees, too. Mentoring, compensation, flexibility, and engagement have always been important, but thanks to the vocal millennial generation, we’re just now learning exactly how much.

What has been your experience with millennials and turnover? Are you a millennial who has recently left a job or are currently looking for a new position? If so, what are you missing from your current employer, and what are you looking for in a prospective one? Alternatively, if you’re reading this from a company perspective, how do you think your organization stacks up in the hearts and minds of your millennial employees? Do you have plans to do anything differently? I’d love to hear your thoughts.

For more insight on millennials and the workforce, see Multigenerational Workforce? Collaboration Tech Is The Key To Success.

Comments