Many of my keynotes and leadership meetings in dozens of industries and corporate events involve a good, hard look at serious future trends. It’s a lot of work, takes a lot of research, but is a hugely rewarding “job.”

And then, every once in a while, something completely different comes along. So it was with a major US financial company that was holding the 30th anniversary of their key customer meeting. And since they’re somewhat in the IT business, they wanted a keynote that looked back in time, rather than looking forward. Something fun, engaging, and which would help folks have a good laugh at the unique experiences baby boomers have been through over the last 30 years. As it turns out, they found me, through one of the speakers bureaus that represents me.

The results was a rollicking, hilarious 45 minute keynote based on lots of my material from one of by books from the 1990′s: Surviving the Information Age, but a lot more material that I’ve developed and have used on stage over this 20 year career as a speaker.

Here’s a great clip — where I’m talking about how quickly our world is changing, as things that are a part of our lives have become things from the “olden days” — and it has happened before our very eyes.

So there I am on another flight – a long trip, with 5 1/2 hours from Toronto to San Francisco, a two hour layover, and then a 1 1/2 hr flight into Palm Springs, where I have a keynote today, Tuesday morning.

It’s a bad thing when your power cord dies at 35,000 feet!

After takeoff, I get set to get to work, and take out my Mac and power wire. I plug in the wire. No power. I assume that maybe my seat power hasn’t been turned on, so I ask the flight attendant. I’m told it is on.

I then look at the small wire that connects from the ‘power brick’ to the Mac, and at the ‘brick’ it is completely frayed. I give it a tiny tug, and it comes right off.

Obviously, I have a problem. You can’t easily source a new wire at 36,000 feet!

But maybe you can. When I first go to the airport, I went to the airline lounge. Opposite from me was a young lady using a Mac.

And moments after my awful discovery on the plane, she went up to the front lavatory!

My mind sprang into action, so when she went back to her seat, I took one of my books (“The Future Belongs to Those Who Are Fast”,) asked if she was going beyond San Francisco, and if not, would I be able to buy her power cord for $100.

She agreed!

Saved!

She needed to use it throughout the flight, she said, but would give it to me near the end. And she did. So I got to Palm Springs, have power, and go on stage in about 1/2 hr.

I won’t mention the young lady by name, but she works for Facebook as an account manager in Toronto, and she is my new hero.

Some months back, the folks at DeVry University interviewed me as part of a series of articles they were doing to focus on the new careers of tomorrow.

The future of long-distance trucking might look more like these “road trains,” as Carroll calls them. These are autonomous vehicles that can navigate long distances without direct operation, with a team of skilled technicians operating them from afar

Their article arrived online today; you can read the original article here, or below.

Fueling America’s Future: New Energy Solutions, New Careers

As U.S. energy independence looms on the horizon, Americans need to start rethinking and transitioning our own energy usage.

Big changes are afoot for U.S. energy. And when energy changes, we all change with it.

American manufacturing, transportation, and technological infrastructures are all deeply affected by, and entangled with, how smartly we produce and consume energy.

According to the International Energy Association, we’re entering an energy renaissance: Its 2012 World Energy Report concludes that the United States will become self-sustaining, in terms of net energy produced, by 2035.[1] Part of that will mean an emergence of new career opportunities for people in the energy sector.

When we try to imagine what U.S. energy may look like in 2035, Jim Carroll, a futurist and energy expert, points to a few clues from very real energy trends emerging right now, changes which include new ways of transporting goods around the country, and new ways in which we think about energy infrastructure and workforces.

Whether we’re talking about renewable or natural energy, efficiency of use is approaching faster because of the acceleration of science, says Carroll, whose many books on innovation include “The Future Belongs to Those Who Are Fast.”

“Scientific knowledge happens and emerges faster than ever before because all of these scientists are plugged together,” he says. “Which means the new scientific discoveries in all these fields are faster, which again leads to higher levels of production in renewables, natural gas and oils.”

On the Road

The American long haul trucking industry has been dependent on traditional and diesel gasoline for decades. But not for much longer, according to Carroll.

“Energy companies are working to retrofit long-distance trucks for natural gas,” Carroll says. But that might be just an interim step toward a brand new paradigm for this industry. Carroll says that technologists are already asking questions like: “How do we use robotics, radar and GPS to link together seven or 10 trucks in a unit that can self drive down the road in a way that is energy efficient?”

The future of long-distance trucking might look more like these “road trains,” as Carroll calls them. These are autonomous vehicles that can navigate long distances without direct operation, with a team of skilled technicians operating them from afar.

A change like this requires us to think about reskilling the American workforce. Truck-driving jobs could potentially disappear, but the need for skilled technicians is growing considerably.

These emerging jobs will be in the management of what Jim Carroll calls “highly sophisticated highway control infrastructure systems,” which will arise from the need to redesign highways for smarter fueled vehicles with better efficiency.

And with smarter infrastructure for highways, there will be greater opportunities for innovating how personal cars are fueled. Many analysts have decried that the electric car is dead, but perhaps it just needs to be rethought. According to Carroll, the renewable battery model, which could take up to eight hours to charge, is outdated.

“Instead, let’s build a battery station that you drive your car into,” Carroll says. “A hydraulic arm reaches in and opens the underneath of your car, takes your battery and places in a brand new fresh one. Thirty seconds and you’re completely refueled and ready to go.”

Reshaping American Infrastructure

The same development is already occurring in many American industries: Think about how manufacturing jobs have shifted from assembly lines to technologically advanced robotics. Or how advanced oil drilling methodologies—hydraulic fracturing or horizontal drilling—have increased domestic oil production due to the efficiency of the processes. These process shifts require rethinking whole infrastructures, and with that, a need for a workforce with new skills.

These are major shifts, but small changes in energy consumption can also showcase how Americans are rethinking their energy consumption. Carroll mentions the Nest Learning Thermostat—a smart thermostat that adjusts the temperature in your house depending on whether you’re home, the time of day, and the outside weather.

A smart thermostat would just be part of the future of smart and energy-efficient homes, where frozen smoke—an expensive but very efficient form of matter—could be used in home insulation. Or, in a concept by the New York architects Cook + Fox, the walls of the home may be biomorphic—practically lizard-like—and able to better absorb sunlight and retain energy depending on the weather.

But, again, the future of energy depends as much on such refinements as bigger innovations that are already being conceived. Some analysts predict that homes will be equipped with hydrogen fuel cells that will create low-emission electricity via a chemical process that combines hydrogen and oxygen.

While there are many different views on when the United States may achieve energy independence, the prevailing opinion is that it will happen—and soon. But independence depends not only from producing more and consuming less energy: The next round of American energy innovation is also linked to scientific and technological advances as well as perhaps the most important feature—a highly skilled workforce.

I had the honor of being a keynote speaker for the recent Canadian Automotive Dealers Association Summit 2013, sharing the agenda with the legendary Bob Lutz, former Vice Chairman of GM, and Steve Rattner (Obama’s “Car Czar” and the main architect of the 2009 North American auto industry restructuring).

Think forward to how quickly technology and automobiles are going to evolve, particularly with autonomous driving technology. Who will win at this race? Google or Ford? Apple or GM?

It’s a fascinating time for the auto industry — in many regions of the world, signs of significant recovery abound, sales are up, and happy days are here again!

On the other hand, there’s still the rest of the future to contend with.

And that was the focus on my keynote. There’s certainly a lot that’s happening, and some pretty big changes. For auto dealers, it will be their ability to innovate in the context of these trends that will define their future success.

So what did I concentrate on? I framed my keynote around 4 major trends, which I called:

• transformation
• acceleration
• interaction
• generations

Let’s take a look.

1. Transformation

The most significant change to the auto industry is already well underway, and is easily summarized by one of the slides from my deck:

Quite simply, the pace, control and speed of innovation is shifting from auto companies in Detroit (and elsewhere) to the technology companies of Silicon Valley. This was the focus an article run in an industry publication before my talk, Detroit isn’t keep pace with innovation, says futurist Jim Carroll.

“Shifting customer expectations are driving part of that change as drivers will now expect their vehicles to be as advanced, easy to use and even as “replaceable” as their smartphones and tablet devices that are so central to their lives.

He says dealers need to ensure their staff is ready to adapt to the change. “A car you sell today might be out of date two years from now,” he says. “How do you keep your salesforce and service force up to date with that speed of change?”

“Some people see a trend and see a threat. Real innovative people see the same trend and they see opportunity. That’s what dealers need to ensure they do when they think about this very fast paced future,” says Carroll.

Mobile will also forever change the retail experience and dealers will need to adjust to provide better customer experiences. “I will talk about the changes going on in retail,” says Carroll. “Mobile is the big story.”

He says social media and mobile shopping is having a huge impact on purchasing decisions. “There is a lot of technology that is coming that will link to mobile.” These new technologies will forever change the customer interaction with retailers. “It’s happening very, very quickly,” says Carroll.

In my keynote, I played into this theme. To start out, I asked the audience how many people in the audience used all the features of their new “Smart TV’s.” Very few hands went up.

Why? Because many people are coming to the conclusion that most smart TV’s are actually pretty dumb! What we’ve seen in the last several years, with most so-called smart TV’s, is a situation in which television manufacturers, who have never been really part of the Silicon Valley technology and design culture, suddenly began throwing all kinds of features onto televisions, such as Facebook, Twitter, Netflix.

The result is, if you pardon the expression, a real barf-bag of clumsy screen navigation, confusing remotes, ill-designed apps, and, well, just a bit of a major FAIL.

Smart TV’s? No one uses smart TV’s because they’re dumb. And that seems to be a message that is resonating on the Internet; such as this article recently featured on Wired.

“People aren’t using their internet-connected smart TVs for anything beyond, well, watching TV. It turns out, nobody wants to tweet from their TV. Or read books. Or do whatever it is people do on LinkedIn. Worse, more than 40 percent of the people who buy a connected TV aren’t even using it for its ostensible primary purpose: getting online video onto the biggest screen in your home. “

Contrast the Smart TV experience to the Apple TV. The latter has a crisp design, clean, simple and intuitive interface. Quite simply, it just works.

Now think about the new car that you might own. It’s got a new, cool GPS navigation system. Perhaps an interface to your iPhone. Some entertainment options. And most likely, it’s probably clunky as heck. Slow. Cumbersome to use. Just difficult to navigate. Noted the New York Times in an article in June 2012: “‘See, you spin this knob here, which moves you through these selections up here. Then you press down on the knob to select something, but don’t forget about the other menus under this button…”

And that where we are in the auto industry today: we have a lot of car companies working to try to figure out how to make technology work. And the fact is, in a world in which the future belongs to those who are fast, they are having a difficult time doing so. They don’t get great, clean design. And they have horrifically long development lead times: PCMagazine observed that “a 2012 car could have a system originally designed in 2006 and put into production in 2008 when that model first hit the streets.”

Maybe what is happening is that car companies are making the same mistakes that TV companies made. They’re making a lot of cars with a lot of cool technology that few people will use, because, well, the interface and design sucks!

Contrast any auto company and their dashboard experience to that of Tesla Motors, the “Silicon Valley” car company! This is a technology company that is figuring out how to make cars, a completely different paradigm. And most people would conclude that they’ve nailed the part of in-car design. The reviews of the in-car dash, with it’s crisp 17″ screen, show a passion and delight within the customer base. It’s like the Mac or OS/X design for automobiles!

Tesla isn’t a car company. It’s a tech company, headquartered in a hive of innovation that helped lure the sharp minds who conceptualized the car from an outsider’s perspective……If Tesla is a technology company, the evidence starts with the car’s innovative infotainment system. The 17-inch touch screen controls nearly everything — including navigation, stereo, climate control and driving settings. As clear and touch-sensitive as an Apple iPad, the huge screen can easily accommodate multiple functions at once.
Although Tesla’s future remains uncertain, its Model S delivers on the firm’s grand ambitions, 9 February 2013, Los Angeles Times

Think forward to how quickly technology and automobiles are going to evolve, particularly with autonomous driving technology. Who will win at this race? Google or Ford? Apple or GM?

I think my answer is probably pretty clear!

2. Acceleration

The second trend I spoke too was the fact that the problem above was coming about because the auto industry was now finding itself subject to the dramatic change that is wrought by Silicon Valley when it starts to take over the rate of innovation in an industry. This is a topic I frequently cover — take a look at my post, “Silicon Valley Innovation Set to Dominate Every Industry.”

Consider the auto industry just over 5 to 6 ago:

• cars were starting to arrive with built-in GPS!
• a multi-disc CD changer was a REALLY COOL accessory!
• auto companies were putting “MP3 plugs” into cars!
• Bill Gates announced Ford Sync at the Detroit Auto Show!

Now consider what could be really big in the auto industry just five years from now; I suggested that the pace of innovation is such that we could see:

• autonomous vehicles everywhere
• a SIRI button in every car
• augmented reality screens with heads up display in most cars
• glasses-free 3D dashboards
• interactive in-car billboards (i.e. a store interacts with you via your social network relationship, and alerts you there’s one nearby. You simply say, “take me there!”)
• open-platforms for extensibility and customization of the in-board dash!

Of course, many people in the room probably sat back and reacted “that’s the dumbest thing I ever heard!” — which I pointed out, observing that this is one of the key attitudes that holds people back from trying to pursue new ideas!

I suspect we are going to see a tremendous amount of technologiical innovation occuring in the automobile space in the next five years, and most people will simply be floored by the velocity of what occurs.

3. Interaction

The third trend I spoke on was the change that would quickly come to automotive dealers, around the theme of the ‘future of retail.’ I’ve done quite a bit in this space; most recnetly, for example, I spoke at a senior leadership meeting with senior executives of The GAP, the global fashion/clothing brand.

There’s a key quote I found that I think summarizes the reality facing us: ”The next five years will bring more change to retail than the last 100 years” (from Cyriac Roeding, the CEO of Shopkick, a location- based shopping app available at Macy’s, Target and other top retailers)

There is much happening here — I’ve recently been speaking at a variety of retail conferences — and will summarize that into a different post.

4. Generations

The fourth topic on the list? As automobiles become more technologically advanced, there is an increasing amount of generational discomfort with some dealers, particularly with some who are struggling to deal with all this change!

The UK Birmingham Post, reporting on a Ford dealership training session, noted  that “….35% of sales staff had little confidence in their own ability to demonstrate hi-tech in-car equipment such as Bluetooth devices and voice control systems”

That’s a pretty staggering observation if true!  And that is happening in the context in which more young people are visiting the same dealers, and participating in the practive of “showrooming.” In an article from the Dow Jones News Service  Dealers Take Notice as More People Use Phones to Buy Cars9 February 2013,, it was said that 

• “...more than a third used their mobile phone to help research pricing and other factors while on dealer lots. That’s compared to 19% for other age categories.”

And so clearly, we have a really unique generational dynamic happening in auto-showrooms!

—–

Put it all together, and it is clear that the automotive industry, and the dealers who support it, are in a particularly unique period of time that involves a lot of change, transition and tranformation!

In the home office here, we’re faced with a dismal spring, as an ice storm, wind and rain continue today!

So we need some excitement around here to dispel the gloom of a winter that just won’t go away!

So — let’s move some books!

For just $25, we’ll send you all 3 copies of my most recent books : The Future Belongs to Those Who are Fast, What I Learned From Frogs in Texas, and Ready, Set, Done: How to Innovate When Faster is the New Fast!

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I’m doing a lot of interviews these days around the future of agriculture. Maybe that’s because I’m doing a lot of keynotes in this field (pardon the pun), but also because a lot of searches for trends in agriculture hit my site.

“Plants might someday be able to analyze themselves, through genetic coding or embedded computer chips, he says. Do your plants need a nitrogen boost or a drink of water? They’ll send alerts directly to your computer.”

Here’s the latest, from AgWeb / The Farm Journal Technology publication. You can find the original article here.

What will agriculture look like in 2043?
by Ben Potter, Farm Journal Technology, April 2013

Driverless tractors! Weed-zapping robots! Data-transmitting crops! Forecasting what farms will be like 30 years from now might seem an exercise in science fiction, but imagine how alien today’s farms might appear to someone from the early 1980s. Imagine pulling a farmer aside from that era and trying to explain telematics or precision ag technology. Imagine explaining what your smartphone can do.

Making a multi-decade forecast is a challenge, admits David Nicholson, head of research and development at Bayer CropScience.

“I always say we can look 10 years into the future because that’s how long research and development projects take,” he says. “We know what’s going to happen because it’s in our labs and our pipelines today.”

Anything beyond that window is trickier, says Nicholsen, who foresees a more localized precision ag experience.

“It will be precise,” he explains. “That seed in that bit of the field is working well. That same seed in that other bit of the field isn’t. Why? What’s different? We will have the tools to do plant-by-plant analysis.”

Noted futurist Jim Carroll takes the idea a step further. Plants might someday be able to analyze themselves, through genetic coding or embedded computer chips, he says. Do your plants need a nitrogen boost or a drink of water? They’ll send alerts directly to your computer.

“It’s not farfetched to think of intelligent plants with connectivity,” Carroll says. In fact, connectivity is a concept that will drive agricultural advancements as the next generation moves in.

“The farmer of 2043 is five today,” Carroll says. “He or she has never known a world without mobile devices and mass connectivity.”

Another driving force comes down to mathematics, says Ron Restum, vice president of North America sales with Koch Agronomic Services.

The generally accepted equation is a world population of 9 billion people by the year 2050 with a dwindling amount of available arable land. Therefore, Restum says farmers must produce more bushels per acre, or the numbers won’t pencil out.

Technology Driven. ”Progress will have to be tech-driven,” Restum says. “We have to continue to be on the forefront of R&D.” Some technologies that sound far-flung should be staples before 2043, but technology and human concerns must be balanced before a product can be integrated.

The autonomous tractor is a prime example. Several companies have developed prototypes. John Deere has been working on driverless tractors for 5 to 10 years, according to Bob Dyar, a product manager with the company’s Intelligent Solutions Group.

“The real hurdles aren’t technological ones—they’re social ones,” Dyar says. How comfortable would you feel driving down the highway and seeing a driverless car alongside, he asks. A similar comfort level for driverless tractors will take time to develop, he says.

“It’s quite easy to make a tractor autonomous where it can drive itself,” Dyar says. “The challenge is making it perceptive, so you trust it not to hit a tree or the family dog.”

If farming goes “robotic,” will a farmer’s role fundamentally change? The farmer becomes the general, and the office serves as the command center where the troops (remote-controlled tractors, robots armed with lasers that identify and zap weeds and insects) are sent into battle each day.

What the farm of the future will look like is anybody’s guess, says Craig Ratajczyk, Illinois Soybean Association chief executive officer. “Significant changes are inevitable,” he says. “Thirty years from now, farming won’t look anything like it does today.”

In November 2011, I was featured as the opening keynote speaker for the 100th Annual Meeting of the Texas Municipal League.

In the audience of more than 2,500 were many mayors and other elected officials of cities and towns large and small from throughout the state of Texas.

And it’s just a few days after President Obama swept to his second term in office – and so I needed to move these folks into thinking about the opportunities of the future!

Watch this quick 40 second clip and see what you think!

I appear online and in the April issue of Growing Produce magazine in Florida, talking about some trends impacting the future of agriculture.

The “robotic tractor of the future isn’t too far away!

The Future Is Now In Agricultural Technologies
March 14, 2013
By Frank Giles

If you could look into a crystal ball and see the future of agriculture over the next 25 years, you would be blown away and find some of it hard to imagine. And, you might be surprised that what seems futuristic is already happening on the farm.

When considering the pace of technological advancements, Moore’s Law is constructive. It generally states that computing power doubles every two years (some say 18 months). While the computing power doubles, the price for the technology falls.

Think about Apple’s iPhone. Every year the company introduces two new-and-improved versions of the phone. Each one is a little faster and can do more stuff, while the earlier versions get cheaper in price.

While all these gee-whiz advancements seem to be happening most in consumer electronics, don’t be fooled. It is happening in agriculture, too. Jim Carroll and Jack Uldrich are two popular futurists on the speaking circuit across the U.S. Both say the wave of innovation impacting agriculture will be staggering in the coming years. “We live in tremendous times and tend to overlook the leaps we’ve made particularly in agriculture,” says Uldrich.

Sensors And Bots

The size of computer sensors are getting smaller, but more powerful over time, while the price drops. Imagine a watermelon field with tiny sensors spread thoughout connected to the vines to inform the grower exactly what plants need for water and other inputs. “These sensors are getting so affordable they already are being used in West Coast vineyards and on farms in Israel,” says Urldrich. “That may sound like science fiction, but who would have imagined 25 years ago that today we would have immediate access to the world’s encyclopedia in our pockets via the use of smartphones.”

Carroll says robotics will be having an impact on the farm quicker than people would believe. “The technology for autonomous vehicles is already pretty mature,” he says. “If you have a meeting with Google in San Jose, they’ll pick you up at the airport in an autonomous car. There’s a person inside ‘just in case.’ It will probably be easier to deploy on a farm than on a highway.

Given all the controversy around immigration reform, Uldrich says robots might fill in for harvest in the future.“There are people at MIT who have developed a robot so sophisticated that it can detect when a tomato is ripe and so sensitive it can pick it without damaging the fruit,” he says. “Robotic technology is getting better, faster, and more affordable. It will allow us to do much more in harvesting a wide variety of crops.”

A Whole New World

There is a viral YouTube clip of a 1-year-old girl trying to manipulate a print magazine like an iPad. She moves her fingers around the magazine to no avail — it does nothing. Give her an iPad and she’s delighted flicking through screens with her fingers.

Jack Uldrich marvels that technology is becoming so user-friendly and intuitive that a baby can figure it out. “What will that little girl expect for information as she gets older,” he asks. “She will want to interact with information. She will want to know who grew the oranges she buys. Social media already is providing this opportunity for interaction and the demand for it will only grow in the future.”

Convenience Store Decisions gave me a call, and wanted to speak about some of the trends impacting the industry.

The intervivew was a piece of cake — I do a lot of keynotes in the retail space. And just last year, a leader in “forecourt marketing” (which is industry speak for c-store marketing…), featured me as the keynote speaker at their Digital Forecourt Marketing Summit

Here’s the extract of my observations from the article. (Small error in the article though – I’m not based in Dallas, but Toronto!)

Shift in Consumer Demands
Dallas-based futurist Jim Carroll sees healthier foods becoming a more fundamental offering at more convenience store down the road. “You wouldn’t think it, but there is a very seismic change going on in terms of what the stores are selling,” he said. “I think they’re realizing that what people are consuming—fried foods and fatty snacks—is changing. People are much more conscious of their food consumption.”

This is a trend that Carroll has been hearing about personally—directly from c-store operators. “Wellness—focusing on nutrition and an active lifestyle—is certainly a trend,” he said. “You think about the number of convenience stores that have undertaken a shift to fresh food. The focus is not on Doritos and Twinkies. Sure, some operators do focus on these items, but your industry leaders and top quartile chains are embracing change.”

Retailers, Carroll said, are trying to get away from the traditional popping chips paradigm. “If you play into the sort of ‘life to go’ issue and recognize that people want to get in and get a healthy meal quickly, why not have those items at the ready in convenience and gas stations? Even 7-Elevens now are selling sushi.”

Promotions, too, will gain impact, Carroll predicted. “It won’t be too long before I am able to fill up my car while my iPhone is communicating with the c-store,” he said. “By the time I walk into the store an LCD TV panel up on the wall is going to recognize me and greet me with a customized commercial.”

Once the store recognizes a particular customer there are endless possibilities to upsell merchandise via text messages and electronic coupons. The constant in the equation is change.

“I see c-stores undergoing relentless change in terms of what they do,” said Carroll, “because I think consumers change so quickly. That’s a major part of what’s going on—a very fast format shift. There is a South African chain that is converting its entire c-store strategy over to fresh food—a complete format shift, because even over there they are seeing that same kind of demand for fresh food served fast.”

Here’s an interview that was taken after my keynote for Process Excellence Network in Orlando in January.

“Companies have lost control of the future,” says futurist and author Jim Carroll, “And they have to learn to play into that reality.” Mobile devices, intelligent connected technology, and changing demographics are driving vast changes in consumer behaviour and expectations. The rise of technology has also led to an increasing concentration of power in the hands of customers who now have more information about companies than ever before.

In this PEXNetwork.com video interview, Jim Carroll talks about how this means that companies now need the ability to be flexible and continually reinvent themselves – in both products and services – in order to respond to the fast changing habits of consumers. This, he says, means “faster is the new fast” where victory goes to the company that has the ability to adapt and respond, especially in rolling out the right process at the right time to launch a new product or service.

Canadian Auto Dealer News,  January 2013

by Todd Phillips

Futurist and retail expert Jim Carroll will take the stage at the CADA Summit on Feb. 13 in Toronto and give dealers a wake up call about how quickly their world is about to change. “The pace of innovation in the automobile or truck that they are selling has shifted from Detroit to Silicon Valley,” says Carroll in an interview with Canadian auto dealer. “That’s a huge and seismic change.”

“The pace of innovation in the automobile or truck that they are selling has shifted from Detroit to Silicon Valley,” says Carroll in an interview with Canadian auto dealer. “That’s a huge and seismic change.”

Carroll is one of the keynote speakers at the one day summit event created by the Canadian Automobile Dealers Association. “Detroit is losing control of its innovation future as it shifts to the technology industry,” he says. “The industry is going to innovate at the speed of Apple, Google and high-tech companies as opposed to the speed of Detroit. There is a massive and sudden acceleration of change that comes with that.”

Shifting customer expectations are driving part of that change as drivers will now expect their vehicles to be as advanced, easy to use and even as “replaceable” as their smartphones and tablet devices that are so central to their lives.

He says dealers need to ensure their staff is ready to adapt to the change. “A car you sell today might be out of date two years from now,” he says. “How do you keep your salesforce and service force up to date with that speed of change?”

“Some people see a trend and see a threat. Real innovative people see the same trend and they see opportunity. That’s what dealers need to ensure they do when they think about this very fast paced future,” says Carroll.

Mobile will also forever change the retail experience and dealers will need to adjust to provide better customer experiences. “I will talk about the changes going on in retail,” says Carroll. “Mobile is the big story.”

He says social media and mobile shopping is having a huge impact on purchasing decisions. “There is a lot of technology that is coming that will link to mobile.” These new technologies will forever change the customer interaction with retailers. “It’s happening very, very quickly,” says Carroll.

Carroll is one of more than 20 speakers and panelists who will be featured at this one day summit aimed at helping Canadian dealers get a glimpse of what lies ahead so they can be better prepared.

After his keynote address, Carroll will join a panel of recognized dealer retail experts for a discussion about these trends. The retail panel is hosted by Canadian auto dealer columnist and industry expert Chuck Seguin. CADA Laureates Christian Chia, Trevor Boquist and Paul Shaw will be on the panel.

Another high profile keynote speaker is Bob Lutz, former vice-chairman of GM, and an auto industry insider who is highly regarded and whose views are much sought after. President Obama’s former Car Czar Steven Rattner is also a featured keynote speaker.

Sessions at the CADA Summit range from updates on economic trends, retail and consumer trends, a panel of manufacturers featuring the Canadian leaders of Ford, VW and Kia, insights from the elite of Canada’s auto dealers — the CADA Laureates, perspectives from media pundits, and more.

Paul Clark, President & CEO, TD Auto Finance will present economic insights as part of the morning session. TD Auto Finance is the exclusive CADA Summit sponsor.

IIC Partners is one of the world’s Top 10 executive search organizations, with 55 offices in 39 countries. They operate in the Industrial, Financial Services, Consumer & Retail, Energy, Life Sciences, Technology, Board Search, Higher Education, Infrastructure and Human Resources sectors.

Pretty well everyone that I’ve been busy focusing on trends and innovation for close to 20 years.

So I was thrilled when they interviewed me for their Executive Lounge, which is made available to an extensive number of senior executives worldwide. The result was this article, which is a good summary of some of the big trends I’m thinking about for 2013.

“The Future is Yours: 2013 Key Trends That Will Impact Your Business!”

by Polly Stewart, Named by BusinessWeek as one of the leading sources for insight on innovation and creativity, futurist Jim Carroll’s clients include NASA, Walt Disney Corporation, the International Association for Human Resource Management, VISA, KPMG and Microsoft – to name but a few. 

Jim shares his views on the six key trends for 2013 and beyond, executives need to know about, exclusively with IIC Partners Executive Lounge members.

1. The Moore’s Law Effect

“With computer processing capability doubling every 18 months to two years, technology will impact on every single sector. Business leaders in every single sector are going to find that they are being exposed to this same accelerating rate of change.

“Take healthcare, which is moving into a world of DNA-based diagnosis and treatment. Strands of DNA can be used to predict and treat conditions. The cost it took to develop the human genomic sequencing machines was $US3 billion – now it costs a thousand bucks. Genomic medicine is driving the health care revolution because of the exponential increase in processing speed of these machines – and that’s just one example, in one sector.”

2. Loss of Control

“Most industries are losing control of the pace of innovation. Take financial services and insurance for example, Insurethebox [which allows people to control their car insurance insurance premiums via a GPS that reports back safe driving metrics], and digital wallets appearing on cell phones. There is Square – a little iphone credit card device and all I need to do to take credit card payments is plug it into my iphone and hey presto I am in business and can take payments. Previously setting up merchant accounts to take credit card payments was like pulling hens’ teeth. But it wasn’t the credit card companies that invented this little device – they are way behind.

“What’s happened in these cases is that the insurer or the bank or the credit card company is no longer controlling the speed of innovation,  so when it comes to motor insurance or mobile payments, the insurance companies and banks have lost control of the spend. Tech companies innovate a heck of a lot faster than any other company in any other sector and so technology is setting the agenda.”

3. Product and Service Reinvention

“Traditional products are being reinvented, again it’s down to technology. Think about the thermostat in your home. It’s been the same type of device for 50 years. Now there is Nest, a learning thermostat designed by one of the key designers of the ipad. It’s a fast learning device that has an intelligent iphone app and it sells for $US250. Tech companies environments are not encumbered by history. A lot are small and are start-ups are very collaborate and actively seek knowledge and insight.

“Some organisations have a culture that stifles innovation. Innovation is not an age thing, it’s a culture thing. All organizations need to be aware they may need to reinvent business models very quickly.”

4. Revolution in retail

“Traditional retail is fascinating right now. It’s about interaction and interactive experience. The Apple checkout process has even done away with cash registers and they have digital display screens all over the place. Watch this space – traditional retailers are learning how to compete successfully against internet retailers.”

5. Career Reinvention

The economy is coming back to strength but in the industrial sector, what is happening is brute force labour is being replaced by robotics. Where can you find people with the skills to control those robots? I have client who told me it’s almost to the point where the people they are hiring they almost have to be able to do trigonometry in their heads. This is happening in a lot of jobs and it comes back to technology. From retail to banks and manufacturing to farming – even farmers need knowledge now about bio-genetics.

“How do people train their minds to think beyond their routine and job description? Organizations are not charging their people to think about future trends, to think about  future innovation. Everyone needs to be involved: Where are the trends going? Where the competitors will come from? How many people have the word ‘innovation’ in their job description?”

6.  Hyper connectivity

“Looking beyond 2013 to 2014, hyper connectivity is key. Everything in our lives is becoming plugged in to everything else. The status and location and IP address of every devise we use will create threats and big opportunities.

“I can see the day when I get up in the morning, go and weigh myself and the bathroom scales send a message to my refrigerator saying, ‘Don’t let Jim in – he’s broken his end of the deal!’”

Find out more about Jim’s predicitions at www.jimcarroll.com

By Polly Stewart

Future of ag is focused on growth
By Zoe Martin Iowa Farmer Today | Posted: Thursday, December 27, 2012 

Jim Carroll knows a lot about camping, urban renewal, golf and agriculture. Above all, the author, speaker and consultant knows change.

“It’s hard to explain what I do,” said Carroll, a “futurist.” “I walk into virtually every kind of organization and talk to them about trends — recently KOA Campgrounds on the future of camping and travel.”

Carroll has spoken at national meetings for mayors, PGA of America and the Walt Disney Co. He has also spoken at meetings for Syngenta, the USDA, Farm Credit Cooperative and the Texas Cattle Feeders Association predicting future trends in agriculture. Fittingly, No. 1 is growth.

“Ag is a huge growth industry,” Carroll said. “I always start with the basic premise production has to double. That’s the long-term reality.”

According to the Food and Agriculture Organization of the United Nations, farmers will need to produce 70 percent more food for an additional 2.3 billion people by 2050. Carroll said this calls for “a continuing ramp-up in efficiency.”

The quest for efficiency leads Carroll to his next main trend in ag, something he calls “hyper-science.”

“Certainly, acceleration of science, with pesticides, plant genomics, precision ag,” Carroll said. “There’s certain key trends that are common to all industries: Science is evolving faster. The next generation of kids who’ve grown up with computers think and act faster.”

Carroll’s work is based on intensive research of the industry he’s targeting along with these universal trends.

His third focus when speaking to ag audiences is on generational transformation.

“The third big thing is younger kids taking over family farms,” Carroll said. “Give me a 25-year-old farmer with a Mac in his combine and iPhone connected to his hip — he’s willing to try what ever tech John Deere will put out there.”

Carroll also points out more specific changes in agriculture in the last 10 years that will affect the industry during the next 10.

There is the “energy opportunity.” There will be an expected $1.2 billion in new income for farmers and rural landowners involved with new energy sources required under Department of Energy mandates, Carroll said.

Convenience and health will take center stage, Carroll predicted in 2005, and that has proven true as consumer tastes and expectations change. These expectations are also driving innovations in packaging and labeling for more traceability.

Carroll is optimistic about the future of agriculture—it’s one of the prerequisites of a job as a futurist.

“It’s all upside,” he said, though some farmers will complain about current volatility or the rate of change in the industry.

“There’s a quote I often use on stage, ‘Some people see future trends and see a threat, innovative people see that and see opportunity,’” Carroll said. “There will be people who prefer to see world slow down.”

In agriculture, that’s not an option, and Carroll pushes this in his speaking engagements

“Innovation defines success,” he has said, and “adopting new methodologies, products, partnerships and ideas” will help farmers thrive.

Last week, I had a fascinating session with a leading financial services firm.

The client wanted to book me for a keynote talk for 5o members of their member service team, in order to take a look at future trends in terms of interaction, support  and relationships.

Some of the issues on the table involved the type of thing that I cover in my post, 14 Key Innovation Strategies for Financial Advisors and Financial Organizations, among many other trends. This was kind of a unique client situation, and so there was a lot of additional research undertaken.

But the client didn’t want to limit themselves to an overview of the trends and opportunities for innovation — they wanted a fun, lively interactive session.

And boy, did I deliver!

We ended up with a 3 hour session. Into the middle, after covering trends and innovation opporutnities, I led them into a discussion of two key questions:

1. What will be the biggest change in the relationship with the typical existing member within 5 years?
2. What will be the biggest change in the relationship with a new member in 2 years?

There were 10 tables of 5 ; they were given 20 minutes to discuss these two questions.

I then led a round table discussion, asking each table to provide their best, unique answer, with a little discussion around those answers.

But here’s where the fun part came in — I then loaded the 10 unique answers to each question into a text message poll, and had the room vote on both polls. And so what bubbled to the top was some pretty unique insight into what could be the major key priorities that they need to focus on in the future.

It actually worked extremely well, and was quite a bit of fun! If you are interested in exploring a way to kick it up a notch for your next leadership meeting, let’s have a chat!

And take a look at my outline on CEO/Leadership meetings for some additional insight.

I’ve just had an article published in STOrai Magazine. This is the monthly magazine for the Retail Association of India, one of the largest such groups in the world.

The article takes a look at the trends which will define the world of retail through the next 1, 2, 5 to 10 years.

You can grab a PDF version of the file — it’s 2 pages long.   

Grab the PDF of the article above! “…most retail experts believe that retail stores will evolve, so that they simply become showrooms for a massive backend logistics system that is their e-commerce system.”

I’ve been doing quite a few keynotes in the world of retail for quite some time, with clients that including for The GAP, the Walt Disney Company, Loblaw and global conferences for both Yum! Brands and Burger King. There’s a lot more information in the Retail Trends section of my blog.

These have ranged from speaking for small groups around a boardroom table (with the CEO and senior management team of several major retailers) to 7,000 person events in Las Vegas.

While dong my research for a recent event, I came across a great quote from Cyriac Roeding, CEO of Shopkick (which develops location- based shopping apps available for Macy’s, Target and other top retailers) ….. “The next five years will bring more change to retail than the last 100 years.”

I certainly believe that to be true.

I also believe that there are quite a few retailers who aren’t quite ready for the scope, speed and breadth of the change that is underway.

The article does a good job of putting into perspective just a few of the trends that are sweeping the world of retail. Much of it is being driven by mobile technology — which is coming to influence not just purchasing behavior, but the entire checkout process.

And think about how quickly dramatic change is occurring in the world of retail – by simply visiting an Apple Store – which is redefining the layout and purpose of a retail store, as well as causing significant upheaval in the entire retail process.

Consider this fact: Apple Stores devote at least 50% of their retail process to what they call “ownership experiences”. The Genius Bar, training, and exploring. That in itself is a fascinating statistic.

And then there’s process: the Apple checkout process, for example. All of a sudden, cash registers seem obsolete! They’ve had such an impact that countless other retailers are now scrambling to put the same type of process flow in place, trying to link themselves to the coolness of the Apple cachet.

That’s the new reality in the world of retail today — pacesetters can swiftly and suddenly change the pace and structure of an industry, and other competitors have to scramble to keep up.

Here’s the article in it’s entirety – and remember, you can grab the PDF from the image above!

Logistics, E-commerce and Attention Spans!

Perhaps the most fascinating thing about the future of retail is that e-commerce, or virtual commerce – which was so hyped in the late 90′s and then came into it’s stride in the last decade -will probably come to define the future of the physical retail experience. Jim Carroll, a futurist trends and innovation experts with clients such as The Gap, the Walt Disney Company, the Professional Retail Store Maintenance Association, Loblaw and other, has an interesting take to share on the future of retail.

 Isn’t that the obvious conclusion in a world in which, in the US at least, Amazon.com is now promising same day delivery?

Buy online, get it delivered, all in an instant. So imagine that you go into a store, see something you like, buy it and the same e-commerce system kicks in to deliver it to you later in the day!

Why? Well, why carry inventory if you don’t have to if you’ve built a big e-commerce infrastructure for your brand, you might as well use it!

This is the obvious conclusion  in a world in which the customer in the typical retail store probably spends more time looking at the screen on their smartphone than looking at store shelves. So why not adapt to that reality?

Certainly it is becoming more difficult for retailers to keep the attention of their customers. It is said that the average consumer scans some 12 feet of shelf space per second – because they are spending a lot of other time looking at their phones.

In a recent keynote with a world-leading retailer, I made the observation that most retail experts believe that over time, retail stores will evolve, so that they simply become showrooms for a massive backend logistics system that is their e-commerce system. Stores won’t carry much inventory anymore, and instead will become integrated into the sophisticated e-commerce systems which they have built for the online shopping experience.

Anne Zybowski, an analyst at Kantar Retail, stated this possibility perfectly: “A few years ago retailers spent a ton of time trying to make their online stores look and act like their physical stores. Now they’ve sort of reversed course, and the challenge is how to take that online shopping experience that’s so personalized, socially connected and heavily layered with data, and essentially bring it into a physical environment.”

And it is for reasons like that, that we have Ron Boire, the chief marketing officer at Sears (and former chief executive of Brookstone Inc.), commenting that his focus is about “creating more and better theater in the stores.”

In other words, pump up the in store experience to grab the attention of the customer. Send promo codes to their smartphones, interact with them heavily through technology, give them the excitement of shopping and deliver the product to them the same day through the logistics system that you have already put in place.

Continual re-invention

Of course, if the consumer is losing their attention, then retail needs to ensure it can do the right thing to stay relevant.

We are seeing this as many retailers invest heavily in the in-store experience. In the UK, Marks & Spencer is spending $600 million revamp of its High Street Kensington store! And Macy’s in New York is spending $400 million on flagship store.

But it’s not just big global mega-stores, mega brands that are reinventing. Trends involving everything from safety to energy to health are causing retail chains to reformulate their stores at a fast pace.

Consider Fresh-Stop, a chain in South Africa that is own owned by Chevron. With the push to healthier diets in the country, the gas-bar chain is now moving away from a mix of unhealthy snack foods, to shelves that offer  fresh produce, meat, fish, a delicatessen and even up-market meals!  And they are converting stores at a furious pace with results. Converted stores have recorded a 12 per cent footfall increase and a 40 per cent sales increase in 2010 against the background of a convenience store sector where sales fell 6 per cent.

What’s most fascinating about this is the fact that they are learning how to change an entire store extremely fast. They can convert an entire store in just two weeks so the future belongs to those who are fast!

And then the credit card disappears

The biggest change to the world of retail comes about as credit cards disappear – because our cell phones become the credit card!

This is a huge trend in North America, it is estimated that payments using digital wallets will grow from $4 billion in 2012 to $191 billion in 2017, breaking $100 billion in 2016.

We’re already seeing the signs of this change consider the Silicon valley upstart Square. Plug the little (square device) into your iPhone, and all of a sudden, you can accept credit card payments.

The service is growing at a furious pace with over 2 million users in just 2 years. They’re doing $8 billion in payments, and just had equity investment by VISA. Even more momentum Starbucks planning a massive rollout to 8,000 stores throughout the US. Square has an unmitigated cool factor!

Yet, despite the excitement of such initiatives, it will take some time for the ‘digital wallet’, or mobile commerce, to become real. Even Google admits this their VP of Wallet and Payment Systems, Osama Bedier, commented that “there’s a lot of ideas and not a lot of problems being solved.”

That’s because there are a lot of BIG problems that need to be solved concerning credit card infrastructure. The New York Times noted this, commenting that “one of the bigger problems that has to be overcome is that mobile payments involve deals between companies that aren’t used to working together like wireless carriers and banks.” (Mobile Payments Slow to Catch On, New York Times, March 2012).

Certainly smartphones are everywhere but retail stores and credit card companies are going to have to invest a HUGE amount of money to put in place the technology that will support near-field-communications.

How much work? “Yankee Group analyst Nick Holland estimates it will cost $15 billion to deploy the technology that will make mobile payments ubiquitous.” Wall Street Journal, November 2011.

Last week I was honoured to be the opening keynote speaker for over 2,200 mayors and elected officials from throughout the great state of Texas, for the 100th Annual Meeting of the Texas Municipal League.

What do you say to 2,200 mayors from throughout Texas, shortly after the recent US Presidential election? Move them along the curve to focus on local, regional, national and international economic growth. That’s what I did when I opened the 100th annual Texas Municipal League conference in Dallas last week!

A fascinating time and a wonderful opportunity to speak to a vast audience with a lot of divergent viewpoints about the opportunities of the future! (Actually, I spend a lot of time in Texas. This was my fourth keynote there in a little over six weeks…So much time there, that years ago, I wrote my book, What I Learned From Frogs in Texas: Saving Your Skin with Forward Thinking Innovation“)

Of course, coming so close to the recent US Presidential election, I knew it would be an interesting crowd, certainly from a political perspective.

With that spirit in mind, I suggested in my opening few minutes that those with a sense of “great leadership skills” would quickly move along the “7 Stages of Election Grief.” Those who focus on economic growth will quickly move beyond the shock and denial phase, and focus on growth and opportunity!

(I then suggested that folks in Colorado and Washington states might have moved along the curve really quickly to the happiness phase, given the recent votes approving legalized marijauna! That got a good laugh.)

But consider if you are a municipal politician in Texas right now — or anywhere else for that matter. It’s a pretty challenging time, with some pretty stark realities:

• drastic funding and budget cuts
• cancellation and complete gutting of programs
• greater pressure on environmental initiatives
• loss of momentum on key priorities
• public expectations out of line with capabilities
• growing public weariness with all levels of government

And so, in my keynote, I thought it critical to help them focus on the opportunities of the future rather than the challenges of the past and the difficulties of the current day. With that spirit in mind, I focused on just 3 simple trends:

• the acceleration of all things : as we enter in the world of smart cities, intelligent infrastructure, and so much more, there are tremendous opportunities for innovation at the municipal government level
• the next economic recovery : I outlined that in my view, this is happening right now, with a resurgence in US manufacturing and energy production. Check the linked blog posts below, and you’ll see my views
• the era of big bets : with these two trends, there are tremendous opportunities emerging right now for cities and towns to place themselves on the mainline of economic growth.

Bottom line? We are at a time similar to when the US transcontinental railroad was built, or the Interstate highway system of the 1950′s-60′s. Smart infrastructure, road trains, autonomous highways, a resurgence in manufacturing driven by robotic and other smart technologies.

Energy independence for the US which is leading to the belief, such as suggested by PriceWaterhouseCoopers, that estimates that high rates of shale gas recovery could result in a million new manufacturing jobs by 2025 in the US, and the fact that revived natural gas industry “has the potential to spark a manufacturing renaissance in the U.S., including billions in cost savings, a significant number of new jobs and a greater investment in U.S. plants.”

And so, as a mayor in Texas — you can choose to adopt a sense of optimism about the future, and be a part of the recovery.

Or, not.

The essence of my message? As echoed by Area Development Magazine some time ago (a publication which is focused on local economic development opportunities): ““It’s impossible to succeed at economic development and be a pessimist.”

My mantra on stage? Think growth!

So I was on the phone today with the CEO of a major global organization headquartered in Canada. I’ll be opening a leadership meeting for the company in early 2013, and this was a call to begin planning for the structure of my talk.

During the call, comments by Prime Minister Stephen Harper of Canada about the US economic relationship came up. Clearly, this is a country that is seeing it’s share of challenge due to fast-paced challenges in it’s “special relationship” with the US.

I mentioned to the CEO that  as far back as 2009, I was already predicting that Canada would likely have challenges in selling it’s oil in the future into the US market. And many other challenges! And that it would have to re-orient its economy further away from the US and take on much more of a global view!

This was plainly evident to me back then — and look where things are today. What are serious people and politicians and everyday folk in Canada suddenly talking about that no one really took seriously just a year ago?“…a Pacific energy pipeline….”  “…. aligning more natural resources and commodities with long term Asian contracts….”    “…… a serious free trade relationship with Europe that goes beyond NAFTA.”

With that in mind, I just dug out an old post I wrote way back in 2009 that was written as a bit of a joke at the time — surmising that Canada would see many reasons to reorient it’s global economy in the future. It’s a press release written very much tongue-in-cheek. It was briefly posted to my blog. (I removed it after a short time, since I thought that many people might find it offensive. But back then, it was covered in Bourque.org and a few other breaking-Canadian-news blogs….)

I now find it remarkably prescient, though some of it is still very clearly written for fun. For example, the border wall!

Canada announces end of economic relationship with US, & a bold new strategy to 2020

Ottawa, May 14, 2009

I spend a lot of time speaking to global financial organizations —some of the world’s largest institutions — helping them understand what they need to do from an innovation perspective to stay ahead offast paced change.

These talks are often aimed at the idea of “how do we need to transition our advisory services — as financial planners,investment advisors, wealth managers — to keep up with fast paced change?” No where is that question more important than when thinking about the impact of technology and social networks on investing. Think about the change that the investment industry faces. We are witnessing the early stages of a massive transition of wealth from one generation to another. The numbers are staggering: we’ll see $12 to $18 trillion in intergenerational wealth transfer In the next12 years (US GDP is $12 trillion) in North America; and by 2053, some $130 trillion will have moved from one generation to another.

When it comes to financial services, adopt change as a mantra and prepare yourself to reach, support and interact with Gen-Connect in new and different ways.

That’s a lot of money sloshing around — and much of it is going to a new, tech-savvy financial consumer.

This next generation — I call them Gen-Connect — continue to aggressively integrate technology into their lives; they’re busy researching health care, insurance, retirement planning and investment advice online, on Facebook and through other social channels.

So what do you do? Adopt change as a mantra and prepare yourself to reach, support and interact with Gen-Connect in new and different ways.

Here’s a list of innovation strategies I provided in a recent keynote for a major global financial institution

1. Focus on growth

With so much volatility in the financial sector, it’s all too easy to take your eye off of the “opportunity ball.”

Yet there are huge opportunities that surround us ; probably the biggest is that we are going to witness a massive intergenerational transfer of wealth from the baby boomer generation to their uber-wiredGen-Connect children. In every area of the world this is going to involve a requirement for a lot of financial advice. As I noted in my remarks for a recent keynote to a group of senior bankers: “Never before has the need for financial advice for Australians been greater;only 20% of Australians are currently getting professional advice.”The same holds true for North America.

That means there are tremendous opportunities for growth! For many, access to financial advice is still too hard and complicated – that’s why it’s a great time to innovate, in order to build market share!!!!

2. Structure for fast paced change

There are several certainties in the financial sector as a result of the impact of technology.

We will see more business model change as companies leverage technology to change relationships in the world of wealth management; we will see more sophisticated competition as a result, and continuous business model disruption with new, young upstarts that really know how to leverage technology and social network relationships. Combine this with continual shifts in consumer behaviour as we manage more of our money and investments using online tools — and speed things up with even faster technology-driven fast change, such as with the impact of mobile technologies.

What happens when ‘there’s an App for everything’in wealth management? That’s what you need to keep up with!

3. Reshape brand messages faster

Clearly there’s a lot of fast-paced change in financial services , and it’s critical that financial institutions continue to reshape their brand at the pace of rapidly changing consumer perception.

Part of this has to do with how quickly volatility comes and goes. Noted Jim Buchanan, Senior VP of Consumer Marketing at the Bank of America in an article in Advertising Age, October 2009: “Six months ago, we were trying to re-assure the market and consumers that we are safe and secure….now consumers are telling us they’re not worried about those things anymore…..What they are interested in is ‘How can you help me manage my finances?‘”

Innovative organizations ensure that the brand message evolves at the pace of a world in which volatility is the new normal. As a financial manager, you must make sure that your brand and image are seen to be modern, up to date, and in tune with the brand expectations of Gen-Connect. You can’t be “your grandfathers’ wealth manager” anymore.

4. Adapt to momentum of financial consumer change

Quite simply, the new financial client is online in a big way, and smart financial organizations will evolve their service and support message to these platforms.

The numbers are staggering; in the case one recent keynote I provided for a major financial institution, I emphasized that:

• 147 million people interact globally on social networks via their mobile phones – we can expect 1 billion within five years!
• usage of Twitter continues to grow at a staggering pace — and people spend more time on Facebook each week than they do on watching television.
• they spend far less time reading newspapers and magazines in paper fashion — and in fact, some don’t look at such products at all!

The result of this i that they are increasingly influenced by advertising, marketing and branding messages that they see online. Ifyou are still trying to reach out to them through traditional media,you might be missing them altogether.

It’s not just about marketing — it’s also about customer support. The entire world of customer support has gone online, and you need to be able to support them in the world to which they are accustomed.

The bottom line for financial and investment advisors is that social networks are an extremely effective tool to keep core clients in the loop; as an outreach tool, they’re fast, effective, unique, quirky,and certainly the story of the day. Financial advisors have to go where the client is going, and should be thinking about how to become socially-networked oriented advisers. Given regulatory issues, that can be a big challenge!

5. Adjust platforms to this changing behaviour

I continue to emphasize with my global financial clients that the impact of mobile technologies on financial services is absolutely massive. Think about Wizzit, a South African service that is essentially a text message based banking system.The reality is that the new financial consumer expects to be served on new platforms: as noted by Thomas Kunz, Senior VP at PNC Financial: “Gen-Y does not reconcile checkbooks, and they don’t believe in float. For them, their balance is their balance.”

That’s why PNC has released a “virtual wallet app” available for iPhones. They’re reaching out to this new financial consumer in a big way. That’s why every organization is scrambling to keep up with “Appworld” particularly considering that Apple sold 3 million iPad 3′ within the first 3 days of release.

Aggressive change with business platforms provides big opportunity for business model disruption. A key factor here has to do with new client acquisition: what’s happening is the point of origination of the relationship might change as people transition their banking to mobile devices. Opportunity can come from continuing to build the advisor and distribution channel into these new platforms.

And that’s not a threat – that’s a huge opportunity!

6. Leverage off of new peer-to-peer behaviour trends

The new financial consumer relies more than ever before for advice from their social networks. Peer-to-peer social driven advice through sites such as TradeKing is coming to the forefront: it’s a service that allows people to share stock tips and research through extended social networks.

Does this diminish the role of advisory services — not at all, if you drive in and become a part of the peer-to-peer conversation!

7. Re-orient distribution channels

Here’s another key point: I’ve emphasized to my insurance and other financial clients that the next-generation advisor/broker/agent expects ever more sophisticated technology platforms to help support their role.You’ve got to make sure you are keeping up with their needs.

In one survey in the insurance sector, 80% of brokers indicated that the sophistication of the technology platform of the provider would influence who they would choose to do business with.

According to Kevin Murray, EVP and CIO at New York-based AXA Equitable: “The younger generation of financial professional will almost demand online self-service….they will want to text any questions they have into the service centre or self-service from their mobile device. We’re going to have to be able to provide that capability. It’s how they will operate.”

8. Build your own peer-to-peer collaborative knowledge networks

The new financial advisor is also thinking socially, and is actively looking for peer-to-peer collaborative knowledge. Imagine building a financial advisory team that is collaborative for ideas, share insight on market wins, constantly leverages insight from new branding campaigns that work in unique ways, and constantly shares great idea son new methods of converting leads into clients — that’s how this next generation works!

Back to Kevin Murray: “They will also want an online collaboration tool to …find answers concerning product or questions from their customers. The X and Ygenerations are going to demand a different way of selling and servicing their customers.”

What’s it really all about? Freeing up their time to build opportunity, make sales, close deals.

9. Reduce churn through electronic relationships

Here’s something else to think about according to Chief Marketer (October 2009), “The average brand saw one third of highly loyal consumers in 2007completely defect to another brand in 2008“.

People are far less loyal, and far more likely to jump ship at the drop of a hat. That’s why continuous innovation in terms of the relationship is critical — and that’s maybe why continually transitioning to new technology platforms such as an iPhone app might reduce that churn

10. Better, more focused niche marketing

We’re in the new era  of analytics and analysis, which provides new opportunities for advisors to reach out to markets previously unattainable. As noted by Money Management Executive in October 2009: “Financial advisers generally prefer to manage a small number of high-net-worth clients rather than a large number of small accounts,but recent advances in automation technology could change this dynamic.”

11. Evolve the approach

Insurance and financial advisory services are products that are always sold based on fear — they aren’t bought.

This reality doesn’t go away because of new technologies. What does change is that technology is a powerful enabler that frees advisors forum having to focus on the mundane, routine, time wasting stuff, in order to focus on providing the advice & guidance that advisors can provide. Focus on the core role!

12. Enact change

Many advisors will be in comfortable, established routines. Change is not easy. That’s why organizations in the financial sector that are trying to be innovative need to help existing advisors focus on the opportunity and the benefits that come with rapid change, rather than being fearful of the change that technology is bringing to the industry.

Bottom line? As I sum up in many of my keynotes — “Innovative organizations make bold leaps, in order to keep up — and stay ahead —of a faster future.”