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{
Disruptive Technology
Change is the new norm
Adapt or die
A Meeting of Minds
@DavidMcClelland
5 June 2014
 Technologist – 18 years IBM, DELL, ING,
BTMU, C&W, Reuters, CME, Local and Central
Government, Start-up
 Journalist – E...
{Digital Revolution
Disruptive
Technology
 Creates new market, displaces existing market
 Technology as an enabler for accelerated disruption
 Google: destroys m...
“Successful companies can put too
much emphasis on customers’ current
needs, and fail to adopt new
technology or business ...
{ {Disrupted
PCs
CRT TVs
Wood, Metal, Glass
Film Cameras
Rail
Encyclopedia Britannica
Disruptor
Tablets/Smartphones
LCD TV...
“With active engagement and a will to invest in the
future, there can still be peace between the disruptor
and disrupted”
...
{Today’s view of Tomorrow
Technologies
McKinsey Global Institute
Disruptive Technologies: Advances that will
transform life, business and the global
economy
Tomo...
 Smartphone
 Tablet
 Data
 Connected staff
 Connected customer
Mobility & Mobile Internet
“The idea that every object we own, no matter how
mundane, is connected to the internet and can be
monitored and manipulat...
Economies of scale:
 Compute cost decline 33% annually
 Storage cost decline 38% annually
 Bandwidth cost decline 27% a...
Data by numbers:
 2.5 quintillion bytes per day
 90% created in last two years
 80% unstructured data
 Only 10% of dat...
“Just as the telescope enabled us to comprehend the
universe and the microscope allowed us to understand
germs, the new te...
Value:
 Single Customer View
 Predict patterns
 Identify opportunities
 Personalised advice
Get the edge: leverage exi...
 Nest – estimated 2bn kWh energy saved
 Automatic – saves 30% fuel cost
 Wealthfront Investment Management
+ 4.6% retur...
 Better decision making
 Humans can’t keep up
 Cognitive computing
 Expands human cognition
 Learns with use
 Intera...
 Advanced Robotics
 Advanced Materials
 3D Printing
 Energy Storage
 Next-Gen Genomics
 (Near-) Autonomous Vehicles
...
{Reinforcing each other and
potentially driving greater impact
Combinations of
Technologies
Multiply Impact
 Top down / waterfalls too slow
 Online demands faster response
 Good cloud fit
Agile Development
 D
Analogue vs Digital Culture
 Target Target
 70 million – records stolen
 40 million – credit/debit cards
 $200m – bank cost to reissue cards
 $53...
 Heartbleed Bug
 eBay
 LinkedIn
 Target
 Spotify
 Gameover Zeus
“This is the new norm”, FBI
Secure, Secure, Secure
 Built for the internet
 Sound technology platform
 Infrastructure investment
Cryptocurrencies
 Cut out the middle man
 DIY attitude – willing to take on some risk
 Direct engagement
 Online knowledge isn’t a priv...
 Airbnb – connects tourists with destinations
 RelayRides – connects drivers with car owners
 Lending Club – connects i...
 #FinTech
 Nutmeg
 Wealthfront (US)
 OpenFin
Financial Technology
 Still space for Face to Face
 Cs Commerce Platform
 Content
 Community
 Commerce
Commerce Got Social
 ‘Connected customer’
transformation
 CSAT from lowest to
highest
Commonwealth Bank
 Generational Attitudes
 Baby Boomer - Collateral
 Gen X - Convenience
 Gen Y – Contact
 Customer Centricity
 User I...
 Know your customer > Better than anyone else
 Know your limitations > Embrace Innovator
 Still space for face to face ...
@DavidMcClelland
www.davidmcclelland.co.uk
Thank you
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Change is the New Norm. Adapt or Die. Disruptive Technology (and Technology that Disrupts) (June 2014)

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A presentation delivered by David McClelland for the UK Wealth Management industry at the 'A Meeting of Minds' conference at the Berkeley Hotel in London, 5th June 2014.

Lots of notes in the accompanying speaker notes - do take a look here.

Published in: Technology, Business
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Change is the New Norm. Adapt or Die. Disruptive Technology (and Technology that Disrupts) (June 2014)

  1. 1. { Disruptive Technology Change is the new norm Adapt or die A Meeting of Minds @DavidMcClelland 5 June 2014
  2. 2.  Technologist – 18 years IBM, DELL, ING, BTMU, C&W, Reuters, CME, Local and Central Government, Start-up  Journalist – Enterprise and Consumer Tech, BBC, Computing, Computer Weekly, Wired  Broadcaster – Consumer: BBC Rip off Britain, ITV Daybreak, CNN, Planet of the Apps David McClelland
  3. 3. {Digital Revolution Disruptive Technology
  4. 4.  Creates new market, displaces existing market  Technology as an enabler for accelerated disruption  Google: destroys more value than it creates (for itself)  Power to the people - consumers capture majority of economic surplus Digital Disruption
  5. 5. “Successful companies can put too much emphasis on customers’ current needs, and fail to adopt new technology or business models that will meet customers’ unstated or future needs. Such companies will eventually fall behind.” Clayton M Christensen Dilemma
  6. 6. { {Disrupted PCs CRT TVs Wood, Metal, Glass Film Cameras Rail Encyclopedia Britannica Disruptor Tablets/Smartphones LCD TVs Plastics Digital Cameras Cars Wikipedia Disrupted
  7. 7. “With active engagement and a will to invest in the future, there can still be peace between the disruptor and disrupted” Top Ten Challenges for Investment Banks Accenture 2014 Collaborated
  8. 8. {Today’s view of Tomorrow Technologies
  9. 9. McKinsey Global Institute Disruptive Technologies: Advances that will transform life, business and the global economy Tomorrow
  10. 10.  Smartphone  Tablet  Data  Connected staff  Connected customer Mobility & Mobile Internet
  11. 11. “The idea that every object we own, no matter how mundane, is connected to the internet and can be monitored and manipulated via the internet, whether it’s a toaster, a lightbulb or your car” Christopher Mims, Quartz Internet of Things
  12. 12. Economies of scale:  Compute cost decline 33% annually  Storage cost decline 38% annually  Bandwidth cost decline 27% annually Lowers barriers to entry = anybody can disrupt Cloud
  13. 13. Data by numbers:  2.5 quintillion bytes per day  90% created in last two years  80% unstructured data  Only 10% of data read more than once Source: IBM Data
  14. 14. “Just as the telescope enabled us to comprehend the universe and the microscope allowed us to understand germs, the new techniques for collecting and analyzing huge bodies of data will help us make sense of our world in ways we are just starting to appreciate” Mayer-Schonberger, Cukier Big Data
  15. 15. Value:  Single Customer View  Predict patterns  Identify opportunities  Personalised advice Get the edge: leverage existing data to know your customers better than anybody else Analytics: Digital Intelligence
  16. 16.  Nest – estimated 2bn kWh energy saved  Automatic – saves 30% fuel cost  Wealthfront Investment Management + 4.6% return vs average mutual fund Pattern Driven
  17. 17.  Better decision making  Humans can’t keep up  Cognitive computing  Expands human cognition  Learns with use  Interacts naturally Knowledge Automation
  18. 18.  Advanced Robotics  Advanced Materials  3D Printing  Energy Storage  Next-Gen Genomics  (Near-) Autonomous Vehicles  Advanced Oil and Gas Exploration and Recovery  Renewable Energy Other Technologies
  19. 19. {Reinforcing each other and potentially driving greater impact Combinations of Technologies Multiply Impact
  20. 20.  Top down / waterfalls too slow  Online demands faster response  Good cloud fit Agile Development
  21. 21.  D Analogue vs Digital Culture
  22. 22.  Target Target  70 million – records stolen  40 million – credit/debit cards  $200m – bank cost to reissue cards  $53.7m – income from selling card details  $55m – executive settlement to CEO Steinhafel  46% drop in profits Secure, Hack, Fraud
  23. 23.  Heartbleed Bug  eBay  LinkedIn  Target  Spotify  Gameover Zeus “This is the new norm”, FBI Secure, Secure, Secure
  24. 24.  Built for the internet  Sound technology platform  Infrastructure investment Cryptocurrencies
  25. 25.  Cut out the middle man  DIY attitude – willing to take on some risk  Direct engagement  Online knowledge isn’t a privilege P2P Attitudes
  26. 26.  Airbnb – connects tourists with destinations  RelayRides – connects drivers with car owners  Lending Club – connects investor to borrower  Paypal  M-Pesa P2P Disrupts
  27. 27.  #FinTech  Nutmeg  Wealthfront (US)  OpenFin Financial Technology
  28. 28.  Still space for Face to Face  Cs Commerce Platform  Content  Community  Commerce Commerce Got Social
  29. 29.  ‘Connected customer’ transformation  CSAT from lowest to highest Commonwealth Bank
  30. 30.  Generational Attitudes  Baby Boomer - Collateral  Gen X - Convenience  Gen Y – Contact  Customer Centricity  User Interface  Far less friction  Far more convenience Attitudes
  31. 31.  Know your customer > Better than anyone else  Know your limitations > Embrace Innovator  Still space for face to face > Augment online Takeaways
  32. 32. @DavidMcClelland www.davidmcclelland.co.uk Thank you

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