2016 25-10 fortis - final draft v6
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Transcript of 2016 25-10 fortis - final draft v6
INNOVATING IN AN AGE OF EXPONENTIAL CHANGE MOVING FROM COMPETITIVE ADVANTAGE TO DISRUPTIVE ADVANTAGE
Terry Stuart Partner, Chief Innovation Officer Deloitte Canada October 25th, 2016
What do we mean by disruption?
“A process by which a product or service takes root initially in simple applications at the bottom of a market
and then relentlessly moves up market, eventually displacing established competitors.”
Clayton Christensen, Author - Innovator’s Dilemma.
Time
Op
por
tun
itie
s –
New
In
nov
atio
ns
Steady Stream of “Core” Capabilities Progressing Linearly
Emergence of new models for customer & channel value
Linear Trend
Living in an exponential world
30 linear steps
About 30 yards… … 26 times around the earth
The disruptive nature of exponential growth
30 exponential steps (i.e. 1 + 2 + 4 + 8 + 16 + 32 …)
© Earth Policy Institute
Solar panel pricing is on an exponential decrease and as a result the installations are aggressively growing globally
How much land is needed to power the world with solar?
© Land Art Generator Initiative
© Tesla © SolarCity
Residential Commercial
© SolarCity
“By 2025, Everybody will be able to produce and store power. And it will be green and cost
competitive, i.e., not more expensive or even cheaper than buying power from utilities…”
Source: PV Magazine Global
Advanced Robotics
Artificial Intelligence
Networks and sensors
Advanced Manufacturing
Collaborative Platforms
Change enablers
Virtual / Augmented Reality
Blockchain
Artificial intelligence is displacing Human workers in professional practices
Watson is an artificially intelligent software built to mirror the same learning process that we use to
inform decisions
13 Go to "Insert" tab in Ribbon to insert Header & Footer
Advances in robotics are changing how we manufacture goods and
replacing human labour
Robots are coming
HERE and are smaller, safer and can work among us
The new weapon in the battle against downed power lines
Which shouldn’t come as a surprise given the media attention
Sending machines to risky human environments
Networks and sensors enable companies to deliver a level of
customization never before possible
Blue Rover uses the Internet of Things to provide businesses
with real time analytics
The Industrial Internet brings together brilliant
machines, advanced analytics and people to
eliminate any unplanned downtime
Cheap and advanced sensors
Smart meters
Real time information
BIG data
Machine Learning
Dynamic customer segmentation
Personalized messaging
Better customer experience
Behavioral nudges
Accurate Supply-Demand Forecast
Putting it all together
Virtual and augmented reality is revolutionizing the way we live,
work, play and learn
Revolutionizing knowledge and skills
transfer using Virtual and Augmented reality
© DAQRI, LLC
DAMAGE ASSESSMENT
Potential to impact:
Insurance Infrastructure
Parking Real estate
Auto manufacturing
Autonomous Cars
No longer science fiction…formal target dates:
2020 2018 2030 2020 2024
2020 ? 2018 2025
2025
Today 2020
Short term? Longer term?
The impact of electric cars has a material impact on parking
Storage is still a challenge
We believe effective innovators replace myths with methods What does this mean for FORTIS?
Observable events
Patterns Trends System Dynamics
Be explicit about innovation ambition
1. Look beyond product innovation
2. Drive innovation from deep and unconventional insights
3. Focus on discipline
4.
We believe effective innovators follow 4 important principles
Innovation Ambition matrix
MARKET
S &
CU
STO
MER
S
70%
20%
10%
PRODUCTS & ASSETS
TRANSFORMATIONAL
ADJACENT
CORE
Building for sustainable breakthroughs
Easier to Implement Bolder Concepts Harder to Copy
Look beyond product innovation
Nest will not only play in the $3 billion global thermostat sector; it will help shape the $6 trillion energy sector
7 TYPES:
Sustained innovators leverage many types of innovation
Think Tanks
Influencers
Federal
Provincial
Municipal
Programs
Experts
Clients
Start-Ups
Partners
Vendors / Suppliers
Speak
Host
Sponsor
Attend
Innovative Companies
Government
Community
Member Firms
Competitors Investment Community
Incubators / Accelerators
Education institutions Thought Leaders
Organized Networks Conferences
Media
Engaging an innovation ecosystem
Staying current on new disruptive technologies requires active Ecosystem Management
• How prepared is Fortis to this new age of disruption?
• How can we build a sustained Innovation Engine?
• Which specific exponential technologies are most likely to disrupt our industry?
• How do we build a continuous sensing organization?
• What Ecosystems do we need to build linkages to?
The impact of innovation is a function of the level of courage that we have (and our ability to execute).
By now you should be asking yourself
See it for yourself
Getting started
When traveling, visit innovation hubs
Map your innovation portfolio
Learn about the Innovation methodologies
Get curious
Go to Exponentials.xyz for additional resources
The Constructive Disruptor Experience Roadmap
Schedule a test drive
Get your headset and explore
(Oculus, Vive, Daydream)
Ask Watson a question on TED
Try a personal drone
Watch Westworld (Game of Thrones Content Warning)
Buy a Nest Thermostat
Buy a Philips Hue
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries and territories, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte’s more than 200,000 professionals are committed to becoming the standard of excellence. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.
This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or their related entities (collectively, the “Deloitte Network”) is, by means of this communication, rendering professional advice or services. No entity in the Deloitte network shall be responsible for any loss whatsoever sustained by any person who relies on this communication. © 2015. For information, contact Deloitte Touche Tohmatsu Limited.
“All too often we...
...look for someone else to make the difficult choice or pursue the challenging route” ...shy away from making key investments and executing dynamic strategies” ...unwilling to accept short-term challenge for long-term opportunity” ...lack the necessary courage to make bold decisions in the face of uncertainty and risk”
ca.linkedin.com/in/terrysstuart
TERRY STUART Learn more at: www.exponentials.xyz
http://AgeOfDisruption.xyz Presentation code: FORTIS
Thank you!
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