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I’m cleaning out some old research files, and came across this simple set of statistics: between now and 2050, we will move from 7 to 10 billion people; we need 70% more food, 50% more water, and 50% more fuel.

People always ask me, ‘where are the emerging opportunities for innovation?” Those simple statistics define it perfectly…… there is big potential in agriculture, infrastructure, energy, water …. ignoring the politics for a moment.

Back in 2008, I wrote a document, “Where’s the Growth? Global Innovation Opportunities for the Long Term”. I just read it again — and it was pretty accurate, predicting the rise of the Internet-of-Things (connected thermostats), the acceleration of solar and green tech, and other trends.

Have a read — it’s a PDF, so click on the image or read it here.

Every industry is set to be transformed as an era of hyper connectivity becomes the new norm. The result? Massive business model disruption; the rapid emergence of new competitors; industries in which customers empowered with mobile devices control a wide variety of devices that are a part of their daily lives; unique opportunities for deep analytical insight into trends and opportunities emerging in industries; a reinvention of manufacturing, logistics, retail, healthcare and other industries because of consumers that are empowered, connected, and enabled with a new form of lifestyle management that we’ve never witnessed before.

The Internet of Things is happening everywhere.

The CEO of a major US energy company hired Jim Carroll to do a video that put into perspective the impact of the Internet of Things on the global energy. There are some pretty profound changes underway.

Think about the video in the context of literally any other industry, and you realize the scope of the potential disruption that is occurring.

The Internet of Things is real, and it is unfolding at a blistering pace. We’re in the era of connected thermostats that link to an intelligent energy grid; autonomous vehicle technology that is self-aware, and networked into sophisticated, intelligent highway flow control systems. A connected trucking fleet that is self-diagnostic, predictive, and built for zero down-time . Intelligent home appliances that link to packaged food products that automatically upload carb, sodium and other dietary information as part of an overall health and wellness program.

Jim Carroll has been talking on stage about the Internet of things since the late 1990’s, when he began using the phrase “hyper connectivity” to describe a world in which “every device that is a part of our daily lives is about to become plugged in.” Since then, he has delivered his insight on the topic to a wide variety of organizations: several global technology leaders with a keynote talk on the future of home automation; several of the world’s largest HVAC companies about what happens when a global, intelligent home and industrial energy infrastructure emerges through widespread connectivity; consumer, food and packaged goods conferences about the impact of intelligent packaging. He has been booked by many leading global health care organizations for keynotes that have focused on what happens when consumers start aligning their wellness strategies through their own personal healthcare infrastructure.

The Internet of Things is a substantive, transformative trend that will provide more change in every industry in the next ten years than they’ve seen in the last thirty.

Jim Carroll already over a dozen years of on-stage experience with the topic, and can help you understand the strategies, risks and opportunities that you need to be aware of you move into a hyperconnected future. Consider one of the world’s most widely recognized futurists, trends and innovation experts for your next association, CEO leadership meeting or other keynote!

Another one of my articles for GE Reports has been published.


FutureFastCover-201x300

The Future Belongs to Those Who are Fast features the best of the insight from Jim Carroll’s blog, in which he covers issues related to creativity, innovation and future trends.

In this era of hyperconnectivity, transformation is happening faster and impacting every industry. To thrive in this environment, you need to understand these five things.

Someday, we will look back and realize that we live in one of the most fascinating periods in history, with technology having entered a new era of what I call “hyperconnectivity” — where the rate of change is accelerating in nearly every industry.

What are the trends that are driving this faster future, and how are smart businesses adapting to not only survive — but thrive — in a faster world? Here are 5 things to know about the accelerating future and to stay ahead.

1. Speed — Today’s is the slowest day of technology change for the rest of your life

Bill Gates once observed that most people tend to overestimate the rate of change in a two-year basis, but underestimate the rate in a 10-year basis.

Take 3D printing. Just a few years ago, I would speak about 3D printing as if it was science fiction — far away and entirely theoretical. Now it’s becoming a part of day-to-day operations for many businesses.

Consider, for example, what is happening with dental medical implants, where the idea of printing dental bridges or other implants is becoming ever more real. Now, people are talking about 3D printing surgical knee replacements.

2. Hyperconnectivity — and endless possibilities

Every industry is set to be transformed as an era of hyperconnectivity — powered by the Internet of Things (IoT) — becomes the new norm. The result: a reinvention of manufacturing, logistics, retail, healthcare and other industries because of consumers that are empowered, connected and enabled with a new form of lifestyle management that we’ve never witnessed before. The capability of achieving deep analytical insights into emerging trends in industries also presents an opportunity for massive business model disruption.

By the year 2020, there will be more than 50 billion devices connected to the Internet — roughly six devices per person. The IoT is happening everywhere and unfolding at a blistering pace. We’re in the era of connected thermostats that link to an intelligent energy grid; a connected trucking fleet that is self-diagnostic, predictive and built for zero down-time; and scales that record our body mass index, transmit it to a password-protected website and create custom charts on our health.

Imagine a world in which that 3D-printed knee replacement reports that it is malfunctioning by sending a message to your iPhone. Seem far fetched? Hyperconnectivity is a staggering trend, which means the possibilities are endless for growth and innovation.

3. Momentum and the potential for big wins

Add these trends of acceleration and hyperconnectivity together, and you’ve got the opportunity for major industry transformation.

Consider the lighting industry, which is in the era of revolutionary new opportunities for significant efficiency and cost savings through deep analytical insight into usage patterns. In addition, since we can now build energy systems in which each individual light bulb is accessible via the Internet, very sophisticated energy management solutions are emerging.

LED usage is accelerating, with the global market expected to grow from $7 billion in 2010 to $40 billion in 2016, according to industry reports. At the same time, the ability to control those intelligent light bulbs is changing is enabling a reimagination of lighting. People can easily set up a smart home where they control their lighting and other energy systems via an iPad. They can become energy-conscious consumers, responsible for their own personal energy infrastructure management. If we empower millions of people, some fascinating opportunities for energy usage reduction result.

There is so much momentum behind these changes because the potential for big wins are huge.

4. The connected generation

Meanwhile, the next generation of youth are starting to embrace every opportunity for hyperconnectivity and acceleration — whether in their homes or businesses.

Today’s younger generation — those under age 25 — have never known a world without a mobile device that puts incredible amounts of information at their fingertips. They are globally wired, entrepreneurial, collaborative — and they thrive on change. As a result, this generation is starting to drive rapid business model change and industry transformation as they move into executive positions.

About two-thirds of today’s children today will work in a career that has doesn’t yet exist, according to author Cathy Davidson, Think about titles like “water usage audit analysts,” “energy usage audit architects” and “location intelligence professionals.”

We are at the forefront of a remarkable time in history, as the next generation uses connectivity to advance some of the biggest energy successes.

5. The future belongs to those who are fast

So how should you deal with fast-paced technological change? As new technology and connected infrastructure emerge, keep in mind a phrase I often use when I’m on stage: “Think Big, Start Small and Scale Fast.” Take on a small-scale, experimental project in you municipality, industrial location or retail store. Test out a new technology with a target group of customers.

By starting small and learning to scale fast, you can adopt an innovation mantra and build a business plan that leads to success.

 

From GE Reports, October 28, 2015 (link)

Technological advances from the Industrial Internet to renewables are transforming the energy industry. Here are the key trends to watch over the next decade.

Hyper-connectivity is transforming many industries — few more so than the energy sector. The expansion of the industrial Internet and power of Big Data analytics is enabling power companies to predict maintenance failures and approach zero downtime, while smartgrids and apps are empowering consumers to become producers.

Could the energy generation and distribution industry find itself in the same position as music companies did n the past — stuck defending an older and entrenched business model, rather than embracing new ideas, concepts and methodologies?

“We are now in the era of `personal energy infrastructure management,’” where connected consumers are gaining increasing control over energy consumption and production, says Jim Carroll, a futurist and energy expert.

The quickly shifting energy landscape means utilities and other industry players must be careful not to be “MP3’d” like the music industry, says Carroll in an interview, in which he also discusses the prospect of achieving energy access for all and the potential for renewals to replace fossil fuels as the dominant energy source:

How much progress will we make in improving energy access to everyone on the planet in 10 years, with the help of microgrids and off-grid solar and other solutions? 

One of my favorite phrases comes from Bill Gates: “People often overestimate what will happen in the next two years and underestimate what will happen in 10.”

I think we live in a period of time when there are several key trends impacting out future use of energy. An intelligent, connected and self-aware grid. An accelerated pace of innovation with non-traditional energy sources — there are now window panes for building construction that generate solar power. Major investments and innovation with energy storage battery technology. I don’t think any of us can really anticipate how quickly all of this is coming together.

Will renewables top fossil fuels as the dominant energy source?

History has taught us that significant progress is more incremental than dramatic. The key point is that globally, we are at an inflection point when it comes to energy. Right now, we’re 90 percent carbon, 10 percent renewables, give or a take a few points. At some point — 10, 20, 50, 100 years? — we’re likely to be at 50-50.

A lot will happen with scientific, business model and industrial change between now and then. We’ve had this predominant business model based on carbon that goes back 100 years, but will that last forever? We’d be delusional if we thought so. What is known is that the carbon energy industry has made tremendous and somewhat unforeseen strides with increasing output — shale, horizontal drilling, smarter drilling and production technologies. Yet the same thing is happening with renewables — and it’s probably happening faster. In the long term, I believe we will see a gradual and inexorable shift to renewables.

How much will we be able to reduce the carbon footprint of the power industry, as technological innovation brings down the cost of renewables?

The technology — as well as consumer/industrial demand for new alternatives — will continue at a faster rate but will run up against increasing regulatory and business model challenges. That’s why I have challenged utility CEOs to ask the question, “Could they be MP3’d?” Could the energy generation and distribution industry find itself in the same position as music companies did n the past — stuck defending an older and entrenched business model, rather than embracing new ideas, concepts and methodologies.

How will the relationship between consumers and producers of electricity change, given smartgrid technologies, mobile app connectivity and the increasing availability of small-scale renewable power sources?

I always stress that we are now in the era of “personal energy infrastructure management.” What does that mean? I have the ability to manage my heating and air conditioning spend through an iPhone app. In the not too distant future, I believe my local neighborhood will have some type of swarm intelligence — linked to local and upcoming weather patterns— that will adjust its consumption patterns in real time based on a series of interconnected home thermostats. My sons are 22 and 20 years old, and we’ve had an Internet-connected thermostat in our home and for over a decade. They live in a world in which they are in control of remote devices, include those that manage their energy use.

How much will energy efficiency improve, with the help of the Industrial Internet and Internet of Things and Big Data analytics?

Some people might view the IoT as being the subject of too much hype at this point. Maybe that is true, but it is probably such a significant development that we can barely comprehend its impact. Think about it this way: every device that is a part of our daily lives is about to become connected. That fundamentally changes the use and purpose of the device in major ways. Add on top of that location intelligence — knowing where the device is, and its status. Link together millions of those devices and generate some real-time and historical data — the possibilities boggle the mind.

We are increasingly in a situation in which the future belongs to those who are fast. That might be a challenge for the energy and utility sector, but it’s a reality.

GE Lighting

Jim Carroll speaking at a GE Lighting event in New York City: “When it comes to lighting, we’re in the era of revolutionary new opportunities. The potential for significant efficiency and cost savings through deep analytical insight into usage patterns, and detailed, specific-spot addressability and management is real.”

Back in May, I participated in a key customer event for GE Lighting in New York City. Here’s a quick little article summary, and video, which captured my thoughts on the future of intelligent lighting and connected infrasucture.

5 Things to Know About the Connected Future
By Jim Carroll

When it comes to acceleration, we live in one of the most fascinating periods in history where the rate of technology change is absolutely staggering.

So what trends are driving this acceleration, and how are smart businesses adapting to not only survive but thrive in an ever-connected world? Read on to learn 5 things to know about the connected future—and how you can stay ahead.

Acceleration: Today’s is the slowest day of technology change for the rest of your life.

Bill Gates once observed that most people tend to overestimate the rate of change that’s going to occur in a two-year basis, but underestimate the rate of change that will occur in a 10-year basis. A few years ago I used to speak about 3D printing as if it were science fiction. Now it’s part of many businesses day-to-day operations.

In the not-so-distant future, we will likely have connectivity in cars that researches 3-bedroom, 2-bath homes for sale in your neighborhood, and then drives you directly to each house for a tour. We already have augmented reality displays built into ski visors and goggles that tell you, in real-time, how fast and far you’ve skied -this same technology will be integrated into automobiles in the not-too-distant future.

It’s important to be ready for this acceleration. Your opportunity in dealing with this is continuing to ingest new ideas, new technologies and new methodologies to solve problems.

Hyper-Connectivity….and endless possibilities.

Every industry is set to be transformed as an era of hyper-connectivity becomes the new norm. The result? Massive business model disruption; industries in which customers empowered with mobile devices control a wide variety of devices that are a part of their daily lives; unique opportunities for deep analytical insight into trends and opportunities emerging in industries; and a reinvention of manufacturing, logistics, retail, healthcare and other industries because of consumers that are empowered, connected and enabled with a new form of lifestyle management that we’ve never witnessed before.

Every device that is part of our daily life is becoming plugged into the Internet. We are becoming aware of its location and its status. And while this has been a trend for awhile, it is today’s businesses that are primed to turn this momentum into big wins.

By the year 2020, there will be more than 50 billion devices connected to the Internet. That’s roughly six devices per person.

The Internet of Things is happening everywhere, it is real, and it is unfolding at a blistering pace. We’re in the era of connected thermostats that link to an intelligent energy grid; autonomous vehicle technology that is self-aware and networked into sophisticated, intelligent highway flow control systems; a connected trucking fleet that is self-diagnostic, predictive and built for zero down-time.

We have scales that record our body mass index, transmit it to a password-protected website and create custom charts on our health. We have ceiling fans that will slow down when owners go to sleep. We have barbeques that send us text messages when the meat needs to be flipped.

These are staggering trends, and what is means is the possibilities are endless for growth and innovation.

Momentum & the potential for big wins.

When it comes to lighting, we’re in the era of revolutionary new opportunities. The potential for significant efficiency and cost savings through deep analytical insight into usage patterns, and detailed, specific-spot addressability and management is real.

New LED technologies change our very concept of lighting and individual addressability at the level of the light bulb leads us to an era that is unlike anything we’ve ever known. Consider these statistics:

Right now, lighting accounts for 12-15% of annual global power consumption, creating 1.7 billion tons of CO2 emissions per year.
According to the International Energy Agency, improving lighting efficiency by 20% can reduce total power consumption by 3.8% and cut total CO2 emissions by 0.8 percent.
According to industry reports, the global LED lighting marketing is expected to grow from $7 billion in 2010 to $40 billion in 2016.

There is so much momentum behind these changes because the potential for big wins are huge.

The next generation

Today’s younger generation—those under age 25—have never known a world without a mobile device that lets them access incredible amounts of information at their fingertips. They are globally wired, entrepreneurial, collaborative…and they thrive on change.

Gone are the days of MS Dos copy and computer courses like Cobalt. This generational trend is crucial to businesses that need to communicate with customers and employees that are used to receiving information in vastly different ways. Additionally, this generation is starting to drive rapid business model change and industry transformation as they move into executive positions.

According to author Cathy Davidson, 65% of children today will work in a career that has doesn’t yet exist. Think about titles like “water usage audit analysts,” energy usage audit architects,” and “location intelligence professionals.” We are at the forefront of a remarkable time in history as the next generation uses connectivity to advance some of the biggest energy successes.

The Future Belongs to Those Who Are Fast

As new technology, intelligent lighting and infrastructure emerge, the key phrase businesses need to remember is to Think Big, Start Small and Scale Fast. Take on a small-scale, experimental project in you municipality, industrial location or retail store. Test out a new technology with a target group of customers.

By starting small and learning to scale fast, you can adopt an innovation mantra and build a business plan that leads to success.

Every industry is set to be transformed as an era of hyper connectivity becomes the new norm. The result? Massive business model disruption; the rapid emergence of new competitors; industries in which customers empowered with mobile devices control a wide variety of devices that are a part of their daily lives; unique opportunities for deep analytical insight into trends and opportunities emerging in industries; a reinvention of manufacturing, logistics, retail, healthcare and other industries because of consumers that are empowered, connected, and enabled with a new form of lifestyle management that we’ve never witnessed before.

The Internet of Things is happening everywhere.

The CEO of a major US energy company hired Jim Carroll to do a video that put into perspective the impact of the Internet of Things on the global energy. There are some pretty profound changes underway.

Think about the video in the context of literally any other industry, and you realize the scope of the potential disruption that is occurring.

The Internet of Things is real, and it is unfolding at a blistering pace. We’re in the era of connected thermostats that link to an intelligent energy grid; autonomous vehicle technology that is self-aware, and networked into sophisticated, intelligent highway flow control systems. A connected trucking fleet that is self-diagnostic, predictive, and built for zero down-time . Intelligent home appliances that link to packaged food products that automatically upload carb, sodium and other dietary information as part of an overall health and wellness program.

Jim Carroll has been talking on stage about the Internet of things since the late 1990’s, when he began using the phrase “hyper connectivity” to describe a world in which “every device that is a part of our daily lives is about to become plugged in.” Since then, he has delivered his insight on the topic to a wide variety of organizations: several global technology leaders with a keynote talk on the future of home automation; several of the world’s largest HVAC companies about what happens when a global, intelligent home and industrial energy infrastructure emerges through widespread connectivity; consumer, food and packaged goods conferences about the impact of intelligent packaging. He has been booked by many leading global health care organizations for keynotes that have focused on what happens when consumers start aligning their wellness strategies through their own personal healthcare infrastructure.

The Internet of Things is a substantive, transformative trend that will provide more change in every industry in the next ten years than they’ve seen in the last thirty.

Jim Carroll already over a dozen years of on-stage experience with the topic, and can help you understand the strategies, risks and opportunities that you need to be aware of you move into a hyperconnected future. Consider one of the world’s most widely recognized futurists, trends and innovation experts for your next association, CEO leadership meeting or other keynote!

Big data. Big opportunities!
April 23rd, 2012

Back in February, I flew into Aspen, Colorado, to speak at the leadership meeting for a major consulting firm. My topic? An extremely customized keynote on the trends and opportunities that are unfolding with the new era of analytics and what has come to be known as “big data.”

There was a tremendous amount of customized research for the event; it’s a big topic, so to speak. After that, I ended up focusing my upcoming May CAMagazine column on some of the ideas and concepts that I covered.

Cashing in on Big Data
CAMagazine, May 2012 

By analyzing and tying together massive amounts of information, we can change the way we conduct business, manage healthcare, work in the world of agriculture or manage energy consumption.

Have you ever noticed how, all of a sudden, a new phrase enters our lexicon and becomes the next big thing? So it is with “big data.” If you

haven’t heard this term yet, you will. What is it?

By analyzing and tying together massive amounts of information, we can change the way we conduct busi- ness, manage healthcare, work in the world of agriculture or manage energy consumption.

As everything around us plugs into the Internet — thermostats, fridges, washers, dryers, industrial HVAC equipment — we are generating huge amounts of information. Companies can examine this information through powerful analytical software to look for unique patterns and insight, which might then help to drive key business decisions.

Consider the energy industry, for example. The NEST thermostat, created by one of the original iPad designers, can recognize you when you walk in the room and adjust the heat to your favourite temperature. It’s also plugged into the Internet — and that’s where the potential for big data comes in.

Imagine the possibilities for an energy company to easily poll how millions of customers are using energy through such thermostats — and to then link that data with a deep analysis of upcoming weather patterns. Suddenly, it can predict and manage upcoming spikes in energy consumption, which could have a direct impact on the purchase of natural gas or other sources of energy. Through this analysis, it can do a far better job of managing its costs.

IBM expects big data to be a large driver of future growth, noting that “there are upwards of a trillion inter- connected and intelligent objects and organisms .. all of this is generating vast stores of information. It is estimated that there will be 44 times as much data and content coming over the next decade …reaching 35 zettabytes in 2020. A zettabyte is a 1 followed by 21 zeros.”

In the field of agriculture, people have been talking for years about the concept of “precision agriculture.” A farmer would use a system which knows, for each particular square yard of ground, how much fertilizer and seed to apply, based on real-time data insight and GPS information.

That world is arriving pretty quickly. Kenna, a data analytics firm in Mississauga, Ont., has put together a system which cross references customer purchase data to weather patterns to real-time tractor position based on GPS to do just that, with the goal of helping a farmer get the best yield possible.

Las Vegas is said to be using the idea of deep analytical research to offer a free lunch to a slot payer who is marginally closer to a payout — thereby reducing it’s risk.

Of course, there are big opportunities in big data. The data and analytics market is already worth an estimated $64 billion according to global management consultants McKinsey & Co. The firm also predicts there will be a shortfall of 140,000 to 190,000 graduates with deep analytical talent by 2018. Similarly, a survey by data giant EMC suggests that 65% of data professionals expect a significant shortage in “big data” skills expertise in just five years.

Accountants are, of course, supposed to be the folks with deep analytical insight. Do we have the capability to step up to the big opportunity that is unfolding here?

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