Why I’m a technology optimist – and you should be too

Why I’m a technology optimist – and you should be too

This is my first blog as part of the LinkedIn Influencer program and I look forward to sharing and discussing ideas.

I have no doubt the world is going to see more change in the next 10 years than it has in the previous 50.

The great acceleration we are now seeing in technology innovation is creating a growing wave of change, challenge and, most of all, opportunity.

Not everyone is comfortable with that pace of change, not least because of the potential impact on jobs.

But far from being intimidated, I see great opportunity. I am a technology optimist and I believe advances in technology and connectivity are driving breakthroughs in human creativity and potential, creating new skills and new jobs and fuelling entrepreneurialism and better customer service.

The power of technology will make us more productive, more efficient and give us access to a whole world of new ideas. And that’s exciting.

Change drivers

I see three things in particular driving the acceleration of technological innovation today: a massive shift to mobile; the cloud; and advances in machine learning.

Only 20 years ago there were less than 100 million mobile devices in the world.  Today there are more than 5 billion.

At any moment hundreds of millions of people are creating and consuming digital content and using their mobile devices as the primary tool for many activities. Less than 10 years ago many of us used our mobile phone only for making voice calls and texting.  Today it is what we use for email, shopping, watching TV, banking and so many other things.

This year in Australia, more internet searches are expected to be made from a mobile device than from a desktop computer.  Today, in Asia more people are connecting to the Internet for the very first time from a mobile device than from a desktop.  Indeed many may never even use a desktop. Globally, mobile data grew nearly 70% in 2014.

We are now also seeing the advent of Internet of Things; billions of connected devices, from vending machines to mining equipment, aircraft engines to agricultural machinery. Connected things, the Internet of Things, is the fastest growing part of Telstra’s mobiles business today.

The second area of technology driving change is the cloud.  There was a time when it would have been almost unthinkable for companies to outsource critical parts of their IT. Cloud has changed that.

The power of the cloud is driven by the ability it creates to share infrastructure and store and retrieve information more economically.

The most complex aspect of the cloud is getting the data in and out of the cloud at speed and securely through the network. This is a telecommunications challenge and one we are very focused on at Telstra.

The third and perhaps most significant area of technology innovation is machine learning. It is significant because of its potential effect on society and jobs.

The combination of big data, connected devices, cloud and advances in machine learning are taking us into the world of artificial intelligence.

This is where the rate of innovation is accelerating fastest.

Advanced algorithms mean computers can now see and hear better than humans and can learn as we provide them with more data. As an example, computers can now diagnose and prescribe treatments for a range of illnesses including cancer with speed and precision and at scale.

Implications

So what are the implications of these trends?

A recent Committee for Economic Development in Australia research report showed almost 40% of all Australian jobs that exist today had a moderate to high likelihood of disappearing in the next 10 to 15 years. The same broad trends are being seen in many parts of the world.

Machine learning is the biggest driver of this because of its implications for the service industry. In the near future many services type activities will be done by computers - more quickly, more cheaply and more accurately.

The shifts in technology are profound but far from being a death knell for the modern workforce I strongly believe technology innovation can bring enormous benefits, though it will require us to continue to build a workforce with solid and relevant digital skills for the future.

We can’t really predict future human wants and needs just as we can’t underestimate the ability of humans – and businesses - to innovate, invent and adapt.

The industrial revolution showed us the switch to mechanisation significantly enhanced society’s quality of living and I’m convinced that is what will happen through this digital transformation.  It is about humans working increasingly closely with technology to enhance our lives, not being replaced by it.

Adapting, at pace

But this is not going to happen if we idly sit by - we have to adapt and we must invest.  And we must do so at a faster speed than we have ever done before.

In particular we have to invest in the quality and capability of the telecommunication networks that enable all of the connected technologies we use today – and Telstra certainly is; billions of dollars every year.

Innovation more than just investment

But innovation is more than just investing capital because at the end of the day machines don’t innovate, people do. That means in business we also have to build innovation capabilities and cultures.

The ability to innovate and adapt in disrupted times requires new ways of thinking and the ability to operate at a fast tempo. Many businesses are finding themselves competing with new types of competitors that have no background in their sector but that are inventing transformational customer solutions by using technology and software – Uber, AirBnB and Expedia are all examples of this.

Innovation happens at the interface between data, technology, connectivity, creativity and a deep understanding of customer needs; today’s best leaders are comfortable and capable operating at that interface.

An extraordinary time

This is an extraordinary time.  Technology is taking us into a world of rapid change, constant innovation and competition.

It is a time of enormous opportunity – not one to fear.

And while we may not know how this is going to play out, we do know it is the ability to create, to innovate, and to stay focused on our customers that is going to be critical.

For business in particular, in the end all of this is really all about our customers – technology is simply a way to make their lives easier, businesses better.

There are plenty of reasons to be a technology optimist, in changing times.

Samantha Treacy

Digital Cloud Solution Architect @ Microsoft | Cloud Solutions Architecture

8y

Telstra help you with everything from a table, theatre system, parking meter technology to which ever cloud suits your application. Telstra is no longer just a Telco.

The outpouring of knowledge and technology is staggering. What is the real challenge in this plethora of technology? Scanning the globe, I see the uneven uptake and distribution of knowledge and learning amongst people, as the greatest challenge of our time. The world will be factionalized with machine learning and knowledge far exceeding the human learning and knowledge from one region to the next . We will shamefully continue to have majority of humans lacking access to basic education in many regions yet some regions will have machines more learned than humans. What purpose will that serve? We need to rapidly transform communities and assimilate them to a new world powered by science and technology. Communities living in abject conditions have to be uplifted with scientific advancement. We need to put the entire global community at the center of all these innovations. The world needs solid preparation of people to adapt technology for modern living.

Ash Podolak

Leader | MBA | Agile GTM, Partnerships & Marketing |

8y

Very interesting read! I am most impressed with the transition Telstra has made in recent years. From a somewhat conservative Telco, to a very slick leading Technological based company. Keep up the great work!

I think it is becoming very apparent to many people that the ways of achieving (& career growth) , business success etc. that worked before will not succeed in the rapidly-changing, novelty rich marketplace. We have to select, develop & reward better candidates, methods & mental models or we will fall behind, individually, as a business, as a nation. Lead or fail.

Jim Kilsby

Leader, Strategic Business Integrations

8y

I could not agree more with the sentiments here from Andrew Penn. Digital Technology is distruptive, distruption causes change and when confronted by change one needs to adapt. It is the ability to adapt faster than the competition where success lies and this has been true for hundreds if not thousands of years in predicting survival. An illustration of this is told in the tale of two American hunters who were sitting at their camp fire when a big bear came running out of the woods towards them. The first man started running away while the second calmly reached for his Nike shoes and started to put them on. The first man looked back at the second and yelled " run run run - you need to outrun the bear". With his shoes on, the second man quickly passed the first man and then yelled back that actually he did not have to outrun the bear but just be faster than the other man!! It is great to see a CEO so tuned into what matters. We are in good hands. Thanks for the inspiration.

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