About six weeks ago I received an email from somebody called Amy Ingram. It was a friendly, professional email to schedule a meeting with the CEO of an exciting new start-up I was writing about for my Future Proof column in Inc.
Not Who I Thought She Was.
After a couple of email exchanges the meeting was confirmed and I thanked Amy for her time. When I got to meet with the CEO in person later that week, he looked at me with a glint in his eye and asked, in a rather curious tone, "What did you think of Amy Ingram?" A little confused, I replied that she was very professional and efficient at her job. The CEO smiled again, paused and said that he had a confession to make: Amy was not a human being. She was in fact A.I and the clue was in her initials (Amy Ingram). 'Will you forgive me?" he asked with a grin.
A New Age.
Of course I did, because everywhere around me I am seeing that science fiction is fast becoming science fact. The take-home message is that we've entered a new age of AI, automation and algorithms, where the speed and scale of change create tremendous risk but also tremendous opportunity. I call it 'exponential change' and it's happening now. It took 75 years for the telephone to reach 100 million users, WhatsApp 3 years and the game Pokmon Go just 3 weeks. This new age is the Fourth Industrial revolution, and it's one where data is the new oil and information is the new currency.
Fast Eats Slow.
In this new reality, it's no longer about big or small. It's about fast or slow. According to a recent McKinsey study, 80% of CEOs believe that in this new reality, their current business model is at risk and only 6% are satisfied with their innovation performance. Now more than ever, we need to use brains, guts and an action-oriented growth mindset to ensure our businesses don't become a footnote in corporate history. The twin forces of cloud computing and mobile connectivity are creating massive yet hard-to-predict opportunities, and as ever in business, there will be winners and losers.
Here are three shortcuts for how to not just survive but thrive in the age of AI, automation and algorithms.
1. Intelligent Failure.
Stop worrying about the rate of failure because as long as those failures are cheap, you can afford a lot of them. As the saying goes, "fail fast, fail cheap and move on". To fail intelligently, you need to focus on three simple rules. First, know what success looks like and doesn't look like. I'm always surprised at the lack of focus on a clear outcome. Deciding what not to focus on can also limit any uncertainty. Second, convert assumptions into knowledge and learning. This is a much smarter use of time than trying to prove how right you are. Finally, codify and share what's been learned via a process known as 'After Action Review' (AAR). Pioneered by the military to ensure continuous learning, the AAR process involves asking three key questions.
1. What did you intend to happen?
2. What actually happened?
3. What are the lessons learned?
2. Embrace "Ripple Intelligence".
Can you navigate the myriad different trends, changes, and contexts that can disrupt an industry or business, for better or worse? It may be, that in order to do this well, you need to develop something that entrepreneur Elon Musk possesses in abundance - a quality called ripple intelligence: the ability to see the interactions of business contexts play out like ripples moving across a pond. Musk has a vivid imagination, obsessive focus, and a deep curiosity about the world and business in particular. He is brave not just in his words but also in his actions, and he uses ripple intelligence in a systematic way for moving fast.
One of the best ways to develop this intelligence is to step outside your normal orbit and develop a point of view about not just the ideas, trends and issues that excite you, but also about the ones that that keep you awake at night. Done well, this can help you anticipate hidden opportunities and catch the next big wave before others do. Early adoption will ensure you stay agile and ahead of the pack.
3. Think 10[x], Not 10%.
When was the last time you set a challenge for yourself that pushed you to deliver more than you thought was humanly possible? Most people think about how they can grow by 10% or 20%, not by a factor of 10. 10[x] thinkers are hardwired to think bigger and bolder, whether it's wiping out malaria in the next ten years or making space tourism a reality. They have an eye on the future and can spot an unmet opportunity quickly before others.
You don't have to be a CEO or run a startup to think 10[x]. This is a mindset that involves taking control of your vision rather than having someone else hire you to do theirs. Get started, have a clear destination, fail fast, test ideas lightly and often, and know that those who think 10[x] hold two beliefs: 1. problems can't be solved with yesterday's thinking, and 2. you have the resources to achieve your goals.
The Last Word.
Next time you receive an email, don't assume it's from a human being. The future has already arrived. To lead in this brave new world, you will have to find the courage to upgrade your business model and your mindset multiple times in order to remain viable. The bad news is, you're probably not going to learn this at business school.
As a CEO said to me recently, "if it's not broke, break it."
See original here:
3 Smart Ways To Win In The Age of AI, Automation and Algorithms - Inc.com
- The Automation Conference [Last Updated On: December 9th, 2016] [Originally Added On: December 9th, 2016]
- The Best Home Automation Systems of 2016 | Top Ten Reviews [Last Updated On: December 24th, 2016] [Originally Added On: December 24th, 2016]
- Compact Automation - Actuators, Hydraulic Cylinders, Linear ... [Last Updated On: December 24th, 2016] [Originally Added On: December 24th, 2016]
- What is Home Automation? | Home Automation Systems [Last Updated On: December 24th, 2016] [Originally Added On: December 24th, 2016]
- Job Seekers - Automation Personnel Services [Last Updated On: December 24th, 2016] [Originally Added On: December 24th, 2016]
- iAutomation [Last Updated On: December 25th, 2016] [Originally Added On: December 25th, 2016]
- Beyond Automation - hbr.org [Last Updated On: December 25th, 2016] [Originally Added On: December 25th, 2016]
- Automation The Car Company Tycoon Game on Steam [Last Updated On: December 25th, 2016] [Originally Added On: December 25th, 2016]
- Automation - Wikipedia [Last Updated On: December 25th, 2016] [Originally Added On: December 25th, 2016]
- Build automation - Wikipedia [Last Updated On: December 26th, 2016] [Originally Added On: December 26th, 2016]
- Home - Enerwave Home Automation [Last Updated On: December 27th, 2016] [Originally Added On: December 27th, 2016]
- Automation | Technologies | Systems | Integrator ... [Last Updated On: December 27th, 2016] [Originally Added On: December 27th, 2016]
- Automation - DESHAZO [Last Updated On: December 27th, 2016] [Originally Added On: December 27th, 2016]
- Custom Automation & Machine Design | Automation GT [Last Updated On: December 27th, 2016] [Originally Added On: December 27th, 2016]
- IT Automation - BMC [Last Updated On: December 27th, 2016] [Originally Added On: December 27th, 2016]
- Werner Electric | Automation [Last Updated On: January 28th, 2017] [Originally Added On: January 28th, 2017]
- Automationtechies | Automation Engineering Recruiting [Last Updated On: January 28th, 2017] [Originally Added On: January 28th, 2017]
- Automation - Mazak Corporation [Last Updated On: January 28th, 2017] [Originally Added On: January 28th, 2017]
- Automation | Food Engineering [Last Updated On: January 28th, 2017] [Originally Added On: January 28th, 2017]
- Test Automation Services for Development of Regression ... [Last Updated On: January 28th, 2017] [Originally Added On: January 28th, 2017]
- UI Automation Overview - msdn.microsoft.com [Last Updated On: February 5th, 2017] [Originally Added On: February 5th, 2017]
- The Evolution of Automation and What It Means for the Integration Industry - Commercial Integrator [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Automation, robots could replace 250000 public sector workers in the next 15 years - Computer Business Review [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- New telecom transformation goals require service automation - TechTarget [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Automation expected to displace insurance underwriters, real estate brokers - CIO Dive [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- The Perks Of Automation And The Risks: Why To Think Twice About Getting Into That Driverless Uber - Forbes [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Voices Reinventing enterprise finance by overhauling AP automation - Accounting Today [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- DFLabs Launches the First Security Automation and Orchestration Platform based Upon Supervised Active Intelligence - Business Wire (press release) [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- VIDEO: Going Big on Automation in a Small Footprint Facility - ENGINEERING.com [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Building a better model of human-automation interaction - Phys.org - Phys.Org [Last Updated On: February 7th, 2017] [Originally Added On: February 7th, 2017]
- Cruise Automation Is Testing an App For Hailing Self-Driving Cars - Fortune [Last Updated On: February 8th, 2017] [Originally Added On: February 8th, 2017]
- AlixPartners examines automation in manufacturing and logistics management - Logistics Management [Last Updated On: February 8th, 2017] [Originally Added On: February 8th, 2017]
- Women need to look out for each other in automated workplaces - The Guardian [Last Updated On: February 8th, 2017] [Originally Added On: February 8th, 2017]
- Automation vs. the H-1B visa program: Which matters to employees? - TechTarget [Last Updated On: February 8th, 2017] [Originally Added On: February 8th, 2017]
- Automation is the unavoidable future of the economy - The Daily Cougar [Last Updated On: February 8th, 2017] [Originally Added On: February 8th, 2017]
- Speeders beware: Legislation would allow automation crackdown ... - SFGate [Last Updated On: February 9th, 2017] [Originally Added On: February 9th, 2017]
- Robots versus bureaucrats: Why public sector work is ripe for automation - Financial Post [Last Updated On: February 9th, 2017] [Originally Added On: February 9th, 2017]
- Rockwell Automation Surged 10% in January as Growth Picked Up Steam - Motley Fool [Last Updated On: February 9th, 2017] [Originally Added On: February 9th, 2017]
- Global Medical Automation Market to Reach Approximately $75.6 Billion by 2025 - By End User, Application ... - PR Newswire (press release) [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- Automation 'key' to advancing Thai production - The Nation [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- WorkWave Releases New Lead Management And Marketing ... - PR Newswire (press release) [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- 'We employ insane levels of automation' Kris Canekeratne - Times of India [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- Most people are optimistic about workplace automation, social data suggests - ZDNet [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- Yes, there's a job creation argument for automation and technology ... - The Hill (blog) [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- Technobabble: Automation and the modern worker - CIO Dive [Last Updated On: February 10th, 2017] [Originally Added On: February 10th, 2017]
- Improving Behavior Through Automation of Vehicle Systems - School Transportation News (blog) [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- Automation Nightmare: Philosopher Warns We Are Creating a World Without Consciousness - Big Think [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- Why Don't We See More Automation in Federal Networks? - Nextgov [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- Automation can revitalize the US workforce - Fox News [Last Updated On: February 11th, 2017] [Originally Added On: February 11th, 2017]
- Readers Write (Feb. 12): The moose population; jobs, start-ups and automation; diversity in the funny pages - Minneapolis Star Tribune [Last Updated On: February 12th, 2017] [Originally Added On: February 12th, 2017]
- Automation can replace bureaucrats and save taxpayers money - Hot Air [Last Updated On: February 12th, 2017] [Originally Added On: February 12th, 2017]
- TigerStop hopes to ride automation to new heights - The Columbian [Last Updated On: February 12th, 2017] [Originally Added On: February 12th, 2017]
- Your Most Valuable Resource is Time Get More of it through Automation - CMS Critic (press release) (blog) [Last Updated On: February 13th, 2017] [Originally Added On: February 13th, 2017]
- What Does Device Automation Mean for Users? - Medical Device and Diagnostics Industry (blog) [Last Updated On: February 13th, 2017] [Originally Added On: February 13th, 2017]
- How To Beat Automation And Not Lose Your Job - Forbes [Last Updated On: February 13th, 2017] [Originally Added On: February 13th, 2017]
- Logistics firm gets automation boost - The Straits Times [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- PP Control & Automation launch new video to kick-start exciting plans for 2017 - Manufacturer.com [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- Automation's Impace on Data Center Monitoring Alerts - The Data Center Journal [Last Updated On: February 14th, 2017] [Originally Added On: February 14th, 2017]
- Hollysys Automation Technologies Reports Unaudited Financial Results for the First Half Year and the Second Quarter ... - PR Newswire (press release) [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- 4 Automation Hacks to Save You Money and Manpower - Yahoo Finance [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- Istuary Innovation Group and Bluewrist Partner to Bring Robotics and Automation into China's Manufacturing Sector - Yahoo Finance [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- Redwood Software Named a Strong Performer in Independent Robotic Process Automation (RPA) Report - Yahoo Finance [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- Boeing ramps up automation, innovation as it readies 737MAX | The ... - The Seattle Times [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- Robots and AI are coming for our jobs, but can augmentation save us from automation? - Digital Trends [Last Updated On: February 15th, 2017] [Originally Added On: February 15th, 2017]
- The Impact of Bad Data in Automation: Why Quality Management is Critical - R & D Magazine [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Automation: Are We Empowering Human Interaction Or Displacing It? - Business 2 Community [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Life in the Fast LaneAutomation with Software-Defined Intelligence - InfoWorld [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Luddite Lefty Journalists Apparently Think Workplace Automation is Conservatives' Fault [VIDEO] - Daily Caller [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Will automation define the future of network technology? - TechTarget [Last Updated On: February 16th, 2017] [Originally Added On: February 16th, 2017]
- Editorial: Improving automation - The Motorship [Last Updated On: February 17th, 2017] [Originally Added On: February 17th, 2017]
- TigerText Unveils Role-based Scheduling Automation, Amazon Alexa integration - HIT Consultant [Last Updated On: February 17th, 2017] [Originally Added On: February 17th, 2017]
- 89% people want automation at workplace: Adobe - Economic Times [Last Updated On: February 18th, 2017] [Originally Added On: February 18th, 2017]
- Delta veers to EV parts, automation - Bangkok Post [Last Updated On: February 18th, 2017] [Originally Added On: February 18th, 2017]
- Robotic process automation makes nearshore outsourcing more ... - CIO [Last Updated On: February 18th, 2017] [Originally Added On: February 18th, 2017]
- The working-class job that Trump could save from automation - Washington Post [Last Updated On: February 18th, 2017] [Originally Added On: February 18th, 2017]
- China must be ready for automation - Basic Income News [Last Updated On: February 18th, 2017] [Originally Added On: February 18th, 2017]
- Bill Gates Says Robots Should Be Taxed Like Workers - Fortune [Last Updated On: February 18th, 2017] [Originally Added On: February 18th, 2017]
- Trump and automation challenge India's IT industry - VentureBeat [Last Updated On: February 18th, 2017] [Originally Added On: February 18th, 2017]
- Both Trump and Automation Are Challenging India's IT Industry - Fortune [Last Updated On: February 20th, 2017] [Originally Added On: February 20th, 2017]
- 89% people want automation at workplace: Adobe - ETCIO.com [Last Updated On: February 20th, 2017] [Originally Added On: February 20th, 2017]