Future of telcos and banks : Telecom customers Banking , Insurance, & financial Services - Conference keynote speaker


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globalchange.com - Future of telecom industry. Client experience. Future trends in telecommunications. Bandwidth, new technology, innovation, business use of communications. Virtual teams, virtual communications, why people often do not like videoconference. Consumer behaviour, decisions and use of technology. Conference keynote lecture by Dr Patrick Dixon. Business management. Integration of business solutions, voice over internet protocol, VOIP, servers, websites, streaming and business image. Credit card transactions, secure processing of payments, RFID and biometrics, fingerprint recognition. Mobile phone companies and remittances – payment transfers across countries / national borders. Future innovation and partnership between banks and telecom companies.Why market research often gives wrong answers about future telecom consumer trends. Mobile phone growth and market share in emerging markets, developed markets and developing markets.Importance of SMS for low-income mobile phone users. Bandwidth, video streaming, impact of web TV and mobile phone TV. Impact of YouTube. GPS and mobile advertising, direct marketing using SMS and targeting niche markets. Next generation advertising and commercial promotions.RFID integration into mobile devices. Automatic readouts of RFID and barcode product information. Replacement of credit cards and bank cards using mobile payment systems Divergence and convergence in mobile digital world. All innovation divergent. Dangers of benchmarking – converges on price, features and quality. Competitive advantage from divergence. Reliability and simplicity. Problems synchronising personal organisers, mobile phones and PCs with software such as Outlook, unreliable, over-complex technology fails to deliver as promised. Mobile devices in control systems, automatic meter reading, medical monitoring. Web 2.0 and online communities, mobile blogging, mobile video diaries. Social networks and social networking using online communities, on corporate image, brand development, product sales and recruitment. Old Advertising is dead in web 2.0 world. Call centres + customer relationship management. Automatic answering systems can destroy client relationships. Keep close to customers: latest call centre technology.

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Future of telcos and banks : Telecom customers Banking , Insurance, & financial Services - Conference keynote speaker

  1. 1. Take Hold of Your Future Dr Patrick Dixon - Chairman Global Change Ltd
  2. 2. Patrick Dixon is Chairman of Global Change Ltd, Author of 15 books and has been ranked one of the 20 most influential business thinkers alive today (Thinkers 50) Future of Telcos and banks : Telecom customers Banking , Insurance, & financial Services (2008) 500 videos of keynotes www.youtube.com/user/pjvdixon Over 4 million views Dixon’s Futurist Website www.globalchange.com/ 14 million unique visitors.
  3. 3. F astU rbanT ribalU niversalR adicalE thical
  4. 4. Leaders need to act faster• Cash rich, time poor• Web world makes us impatient – Checkout / lift• Clear rapid decisions
  5. 5. 1975  2008 Prices• 2.7g of storage free per person would have cost $50m each in 1975
  6. 6. Techno Risk ManagementLow probability, high impact events
  7. 7. Don’t believe market research
  8. 8. The future will be shapedby emotion
  9. 9. Fast A news story can destroy a brand in a week TRUST at RISK Hard to gain Easy to lose
  10. 10.  ??• Tribal TV• 3 years old• No advertising• 500 million videos a day
  11. 11. • "Perfection!, Wonderful hotel. Good value, beautiful views." A TripAdvisor Member, Pittsburgh, July 20, 2007 This was the most beautiful hotel we have ever stayed in! Just perfect. Service was also perfect. We decided to stay on another week.... “Worst hotel I have ever been in. Should be closed down." A TripAdvisor Member, Chicago, IL, July 12, 2007 NEVER stay in this terrible place. Wife very sick with food poisoning. Rats running around restaurant. Toilet leaking. Rude staff....
  12. 12. Example: Retail Investment Funds• Most fund managers do not recommend their own funds to friends or family• Urgent need for independent financial advice
  13. 13. 1 billion children in Africa andAsia will soonbe consumers
  14. 14. EuropeDying 4 couples needed toproduce just one great- grandchild
  15. 15. Expect huge impact of EU accession countries on labour markets• 650,000 new Polish workers in UK• 400,000 Romanians in Italy
  16. 16. 75% of all UK and US wealth owned by those over 65
  17. 17. 1 millionvoters over90 years old in Italy by 2026
  18. 18. Retirement Age is Last Century Idea• Many will work beyond 70 yrs and still have long, wonderful retirement• Huge wealth inherited by over 70 year olds• Home owners will release capital
  19. 19. Makeitwork
  20. 20. Urban Can we stop ageing ? Adjustment needed to life-expectancy tables
  21. 21. We will copy animals that don’t age Turtles, sturgeon fish , some humpback whales
  22. 22. Tribal Tribalism conflictsIraqIslamic / ChristianChechnyaRwanda / BurundiBlack / White
  23. 23. Global instability from growing gap between rich and poor
  24. 24. Tribal Tribal leadership  rapid change People need to belong Sense of identity Family IT tribes tribes?
  25. 25. Many CEOs lost confidence in IT• “Poor delivery”• “Legacy systems nightmares”• “Project delays and budget over-runs”• “Failure of CIO to understand broader business priorities”
  26. 26. • Lack of understanding of technology issues CIO Frustrations by board• Lack of vision• Confused strategy• Failure to integrate new technology into structure of business• Resistance to change
  27. 27. UrbanTribal Female tribe • Most online accounts are operated by women • Most household bills paid by women • Most new jobs won by women
  28. 28. Each Tribe has ownLeadership Style - Reebok
  29. 29. He wants a humanbeing – not a robot!
  30. 30. One Bank or justBreak It Up!
  31. 31. Convergence is about co-packaging andeconomies of scale, but all real innovation is about diversity Doing things different to serve clients better
  32. 32. MOST people will use most multi-functiondevices mainly for one thing
  34. 34. Convergence chaos at home
  35. 35. But does your father really want one of these?
  36. 36. GlobalUrban India outsourcing story is changing
  37. 37. Alternative payment systems• 100 million paypal accounts• Vodafone and other mobile companies
  38. 38. Mobile phone becomes bank card
  39. 39. Why every bank should beworried about mobile technology• All retail cards  mobile• Ticketing  mobile• Remittances  mobile• Pay button?• Consumers paid to change behaviour
  40. 40. Card market for 60 million people• UK cards $1.3 billion pa by 2010• Credit card debt $100bn• Average interest rate 16% (March 07)• 1% of $400bn is $4bn of incentives
  41. 41. Integration is a huge opportunity
  42. 42. In a global market, processinnovation will be as important as product improvement
  43. 43. RFID Innovation ImpactRadio Frequency Identification Devices•Wireless barcodes
  44. 44. TechnicalChallengesWater and metal
  45. 45. Airline Baggage Handling - RFID
  46. 46. RFIDs = Clinical Monitoring
  47. 47. Digital Memory Inside Your Head?
  48. 48. Radical Technology• Building systems with future in mind• Easy to extend and adapt• Anticipating innovations that the board do not even realise that they are going to need• Total integration of project into every part of the business strategy
  49. 49. •China and India joint government actions will dominate our world by 2030
  50. 50. Radical New Shape of Politics Old Party Politics New Issues World view Narrow agenda Systematic Campaign History New causes Tradition Radical Left / Right Sometimes irrational
  51. 51. Radical Every major single issue will lead to new regulation  Data protection  Confidentiality  Electromagnetic radiation from mobile phones / masts?  Environment  Outsourcing
  52. 52. Islamic Banking – example ofradical forces shaping markets
  53. 53. Compliance with every regulation today could put you out of business - Insider dealing was thought smart –- Bribes were set against corporation tax -
  54. 54. Sustainability
  55. 55. Global Warming - facts
  56. 56. CO2 at highest level for 1 million years
  57. 57. Ethical Does business have a purpose? • 90% of 30-40 year olds want to leave conventional business jobs • 60% of 25-35 year olds feel unfulfilled in careers • 90% are looking for a higher purpose at work • 59% say they seen no meaningful purpose in their work or organisation Connect with passion to win war for talent
  58. 58. Ethical New trend – get a life • Work-life balance is now 1st or 2nd most important factor in looking for a job • Offer better balance to win talent Managing imbalance is about friends and family
  59. 59. Ethical Companies talk about • Growth • Profits • Shareholder value ( + customers…)
  60. 60. Ethical Individuals talk about • Personal happiness • Family and friends • Community • World we all live in …emotion
  61. 61. The ultimate 2020 IT slogan• For individuals – your own needs• For family – people close to you• For community – or nation• For the whole earth – the good of all Leaders tell their own good news story
  62. 62. Conclusions1. FUTURE changing rapidly and IT innovation vital to survival2. Integration of IT into business processes often leads to faster growth3. Future success requires – Risk-taking and innovation – Higher investment in IT – Radical changes to old models – Partnerships and creative outsourcing
  63. 63. The winners will be visionary companies whothink rapidly, embrace radical new partnerships and technologies, integrateprocesses, and create reliable products and services that meet real needs
  64. 64. • Patrick Dixon – videos and slides• Globalchange.com/ppt