The world is changing at rapid pace. So what are some of the innovative technologies and other trends emerging that are changing the way we work and live and what can you to do stay ahead of the curve? In this Moir Event, guest speaker Simon Corah, CEO from Growth Mantra shares his insights.
Transcript
[Stephen Moir]
The world is changing at rapid pace and that is throwing up significant challenges and opportunities for people as they go about managing their career. At Moir Group, we host many events throughout the year, looking at how things are changing and how each individual can stay ahead and best optimize the opportunities that come from these changing times. Today we have the CEO of Growth Mantra, Simon Corah, and he’s looking at a lot of the disruption that is coming, across many different industries.
[Simon Corah]
One of the interesting things about the global market and, particularly, the Australian market is
that we’re in a low growth environment. But our mantra is that even in a low growth environment we believe that growth is possible, you just have to work harder for it. What are the big macro forces that are driving change? So there are, you know, if you take the PESTEL forces: political, economic, technological etc. you’ve got to understand, what are those particular macro forces going to impact in Australia? The next thing you’ve got to think about is what are the consumer trends that those macro forces are driving? And I’ve picked five. Whatever happens in A.I. and robotics it’s here to stay and it is already making an enormous difference. If you want A.I. to be really working, it’s reliant on speed so the combination of A.I. and 5G is what’s going to happen. So what all the smart emerging countries are doing are going and skipping all of that fiber-optic, skipping all of the putting cable down and encouraging the mobile players to introduce 5G because A.I. is the big game and they all know it. This is an organization that takes terabytes of data and you ask it a question. So it takes a couple of weeks to learn about your data and it finds insights and it asks, you can ask it to correlate things. So you could say, you know, “What proportion of our customer base of 73 million people would prefer to buy yellow oranges on Tuesday mornings than green”? And it will tell you and you verbalize that and it takes it in and does the work and half an hour later it’s got an answer for you. Its mind-blowing. The second thing that’s going on is all this simplification. What Kroger does is: you write a shopping list on your phone, you go into the store that’s got Kroger, it finds it and it directs you to the place in the store where those particular products are. Privacy and data is going to be the big game. Check Point. First thing you see on the website is they have a threat cloud, which is in real-time and live and it shows you at any minute of any day, in any second of any minute where threats are coming from. What it shows you there is Australia’s pretty high up as a target and that’s quite interesting. This is very clever which is here, through radiology and MRI scans, you can obviously see what a heart looks like but what this does is it builds a 3D heart based on that radiology scan. So the doctors can look at a model of your heart before they go in anywhere so they know exactly what they’re doing. This is amazing, it’s called Neom. It’s a city. Saudi Arabia’s spending $500 billion dollars to make the city completely grid free, completely sustainable. Everything in that city runs on power that it generates themselves and it’s just a good idea because I think it’ll become a microcosm, won’t it? A kind of experiment that says, “is this actually going to work”? Edible coating can keep food fresh longer and cut down on the waste so you’ve got a lot of edible packaging. Even in the U.S., I’m not sure what it’s made out of but you can buy a Kentucky Fried Chicken bucket which you can eat. I would leave you with a single thought which is: If you look at your business, what trends do you see driving change in your market and where are you going to find the next growth within that? Because, clearly, there are scary bits about what I’ve shown you in terms of the market changing so quickly, but within every market change, there’s a market opportunity. So thank you very much.