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5 in 5

In this latest series of my posts, I want to share with you my interests, passions and insights that I have come across in the last 5 weeks.

I am naming this the 5 in 5 - five interests in five minutes

This month, it just so happens that i also have 5 of these to talk through too!

- Feeling our way through - The imagination economy - The five senses - Disruption vs reality - Ethical AI

Feeling our way through

Please see my recent post on feeling our way through here. Sometimes we don't have all the answers and sometimes our strategy doesn’t fit, but perhaps we should grasp at those opportunities with both hands as you never know where it may take you.

The imagination economy

You possibly haven't heard of the terminology before, so as a quick starter Girledworld define it as - “imagination economy.” This is defined as “an economy where intuitive and creative thinking create economic value, after logical and rational thinking have been outsourced to other economies.

In essence, and the basis of this new and profound economy - imagination and creativity is becoming a currency of its own. We have become aware of this due to automation and repetition in roles now being completed by technology rather than people i.e. Robots completing jobs instead of humans. But one place where technology will continue to struggle to be better than humans for the foreseeable future is in creative thinking. Unsurprisingly humans continue to outdo machines in innovation, imagination and pushing creative boundaries and no-one yet can see a machine that is advanced enough to automate this process.

The five senses

When we as people meet, it can be the instigator in us being able to change the world.

It still amazes me, how events still do not take into account the 5 senses. Our society is built around them, yet we ignore them and continually take them for granted. When we feel something as a group, movements can happen. Change happens one experience at a time. A skipped breath, a moment of Joy or a memory brought on by smell. Imagine all of those things colliding in one space and time. When we connect we can change the world.

Disruption vs Reality

I recently wrote a post on innovation and disruption you can read here which has made me think further about disruption.

As Forbes recently reported:

'Digital disruption is much more than an abstract concept promoted by analysts and vendors; it is now a reality for most organizations. More than one-third of executives in a recent survey say they are being directly affected by competition from digital and data-savvy players in their markets.'

The question is, are you going to be a disruptor or are you staying in the current reality?

Forbes also reported the preference for many executives was to be on the side of being a disruptor and not being disrupted. Most of us as business owners or decision makers want to be disruptive, but how can you do that in industries where it is not as easy to disrupt?

We hear the same stories on disruption. Air b'n'b and the hotel market, Netflix to television and Uber with taxi's (Uber even became affiliated with all other disruptions with a new phrase being born 'Uberisation').

But disruption can happen anywhere at any-time. In fact, disruption has been happening for centuries although we tend to think of it as a new way of working. Henry Ford disrupted the world with the invention of the motor car. If you had asked anyone before the motor car was invented, what they wanted they would have answered a faster horse. (perhaps this is why the Mustang is one of the biggest selling cars in America to this day).

Perhaps we all inspire to be disruptive, but actually what we should concentrate on is being better at what we do. Being a better version of what we are can often be the biggest disruptor to the market.

Ethical AI

I believe most of us now will have had interaction with a form of Artificial intelligence, from of virtual assistants on our phones, or home hubs in our house from Amazon, Google or Apple, in fact it was muted this week by that by next year 50% of all searches will be voice enabled.

This type of technology is now commonplace and a useful tool for many. From setting timers and alarms, to listening to your calendar for the day or for just finding out what the weather is like at the weekend.

We embrace having our lives made easier in menial tasks and without doubt, AI is now embedding itself into our lives and never more so than in the world of business.

However, with the rise of such 'smart' technology comes a need to give our trust and information to algorithms. AI is a commonplace word in everyday society now, it’s the front facing brand of automation. What lies beneath is data. Machines constantly evolving due to the data we are willingly providing it. To the point where machines are now literally learning themselve, to complete specific tasks more effectively otherwise known as Machine learning. Machine learning forms the basis of understanding data through efficiencies, but this increasingly raises the question of how safe AI can be. The scope of AI is huge, but where is the Ethical line drawn?

From Alexa, to an AI controlled vehicle, both have a place in the world, but hold very different possibilities on the ethical scale. From actively listening in to a conversation and recording it, to taking control of a 2-tonne vehicle. Where do you sit on an Ethical scale?

As mentioned, the scale is vast. Ask yourself, is it okay to push products to you that you have been discussing with friends and family? and on the other hand is it okay for an algorithm to make the decision on a likely collision? And if a collision takes place who's to blame? the AI? It's developers? Or the car maker or the pedestrian?

This ethical question, of which the industry has to continually answer has no clear answer and not one that I have a solution for.

But one thing is for sure, we must ensure our existing prejudices aren't embedded into algorithms.

Thanks for reading. Please do drop me a comment or contact me and we can discuss these further and how we can help you with your events. Until 5 weeks time...

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