Jim CarrollFuturist, trends & innovation expert

What Do World Class Innovators Do That Others Don’t Do?

“The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.”Rupert Murdoch

• The Walt Disney Company• Northrop Grumman• Swiss Innovation Forum• World Pharmaceutical Innovation Congress• Nestle• Toshiba Australia• Consumer Electronics Association CEO

Summit• Pearson PLC• NASA Goddard Space Center• RGA Reinsurance• Siemens• Johnson & Johnson• Pfizer• McKesson

The Big Question: What do world class innovators do that others don’t do -- and what can you learn from them?

1. World class innovators are relentless despite

uncertainty

Historical winners?

oil shock of 70’s, 80’s and 90’s recession, 00 dot com bust60% of companies barely survived, 30% died, 10% became breakthrough performers“...because of choices they made in the recession..”GE’s Chief Innovation Consultant

2. World class innovators check their speed

5 Things That Didn’t Exist 10 Years Ago!

FacebookTwitteriPods / iPhones / IPadsGoogle Mapsthe concept of location-based technology and intelligent packaging!

What was REALLY BIG just five years ago?

Just over 5 years ago?

• RIM / Blackberry was a really cool brand!

• cars were starting to arrive with built-in GPS!

• the Apple App Store was just opening!

• Google StreetView was just appearing for the first time

In The Jetsons, the 1960s cartoon classic, George Jetson and his family lived in a futuristic society with housecleaning robots and programmable appliances. (George also logged on to FaceTime chats with his boss, and he read his news from a screen.)Popularity surging for smart-home technology15 March 2013, The Philadelphia Inquirer

3. World class innovators think big & realign themselves to the

longer term

“We always overestimate the change that will occur in the next two years and underestimate

the change that will occur in the next ten. Don’t let yourself be lulled into inaction.” Bill Gates

“That’s the dumbest

thing I ever heard!”

What could be REALLY BIGjust five years from now?

By 2017? a SIRI button in every caraugmented reality screens with heads up displayglasses-free 3D dashboardsinteractive in-car billboards (“take me there!”)payment technology embedded into the in-car dashboard experience!

“Imagine a far more extreme transformation, in which advances in IT, biology and engineering allow us to move much of health care out of hospitals, clinics and doctors offices, and into our everyday lives.”Our high-tech health care futureNew York Times, 10 Nov 2011

“Bioconnectivity”

By applying biosensors to the body, we can measure any physiologic metric—blood pressure, glucose, oxygen concentration in the blood—and send the data wirelessly through smartphones to doctors. The Wireless Revolution Hits MedicineWall Street Journal, February 2013

That means you have this panoramic, high-definition, relatively comprehensive view of a patient that doctors can use to assess and manage disease, and that patients can use to help maintain their health and direct their own care.The Wireless Revolution Hits MedicineWall Street Journal, February 2013

That is the essence of digitizing a human being. For medical purposes, it's getting all the essential data, and it will be the information to radically transform the future of medicine.

Dr. Eric TopolAuthor

It took two years for Apple to sell two million iPhones.

It took 2 months for them to sell 2 million iPads!

It took 1 month to sell 1 million iPhone 4’s!

It took 1 day to sell 1 million iPhone 4s

Apple sold 5 million iPhone 4s’s in first 4 days

“Wireless health”78% of consumers are interested in mobile health solutionsmedical and health care apps are 3rd fast growing category for iPhone and Android phonesthe Apple App store now has 17,000 health care related apps, 60% of which are aimed at the consumer

Momentum!“500 million mobile users, or about 30% of an estimated 1.4 billion smartphone subscribers worldwide, by 2015

Healthcare in your handsInternational Herald Tribune, March

2011

“...they increase how often individuals think about their health...”

4. World class innovators reframe

the very concept of innovation

?

Run the business better

Grow the businessTransform the

business

What is innovation?

Transformation = Virtual care!

“The hospital as we know it is coming to an end.”

Forty percent of physicians surveyed said they could eliminate 11 to 30 percent of office visits through the use of mobile health technologies like remote monitoring, email or text messaging with patients. Environmental Scan 2013Hospitals and Health Networks, Sept. 2012

Estimates of annual consumer market for remote and mobile monitoring devices is $7.7 billion to $43 billion.Environmental Scan 2013Hospitals and Health Networks, Sept. 2012

“Get ready for e-visits. Texting and emailing have been shown to be effective tools to connect patients and physicians efficiently. Additionally the use of email communications and telephone visits cuts office visits by 26 percent, improving the efficiency of ambulatory care.”

“Researchers at the University of Missouri are using sensors, computers and communication systems .... to monitor the health of older adults who are living at home.”

“....motion sensor networks installed in seniors homes can detect changes in behavior and physical activity, including walking and sleeping patterns...early identification of changes can prompt health care intervention....”

“... portable RV-like units equipped with motion and monitoring systems that allow seniors to maintain some independence from the backyard of their adult childrens' homes.....”

“Monitoring and in-home help technologies will be $20 billion US by 2020” - Aging in Place Technology Watch

Home care currently accounts for 3% of the US national health budget but is growing at 9% per year.

Health care interaction?

5. World class innovators align to acceleration of business

cycles

2009: $9.4 billion

2010: $21 billion

2011: $35 billion

The reality of product life-cycles

new product revenue hit 34% by 2007, up from 21% in 1998more than 70% of typical sales of a manufacturer will become obsolete over 6 yearsfashion and hi-tech obsolete within 1-2 years“Silicon Valley-ization” will drive this trend into most other sectors

“Chameleon revenue”

“Connected medicine”

“.....interactive packaging, intelligent and active packaging, multi-sensory packaging, edible packaging ... packaging as mini-billboards...”

Some experts predict that in the near future, tens of millions of Americans will be tethered to gadgets that will automatically send their vital signs to medical professionals, relatives and concerned friends ... the trend is widely expected to transform the relationship between patients and physicians.Wireless medical monitors set to transform patient careSan Jose Mercury News

“The quality of care in the hospital setting can be facilitated through wireless technologies. This includes the ability to track every medication that is ingested, using pills tagged with digestible sensors that are activated in the stomach by the change in pH.” Wireless medical monitors set to transform patient careSan Jose Mercury News

6. World class innovators adapt toSilicon-Valley innovation velocity

Velocity!• it took $3 billion to

sequence the first genome

• 2009, $100,000• it’s now under

$10,000• by end of year,

$1,000

device IPlocation intelligencesensor awareness

A change in the concept of packaging

“.....interactive packaging, intelligent and active packaging, multi-sensory packaging, edible packaging ... packaging as mini-billboards...”

By 2017?packaging that talks to youpharma packaging that does “electronic event monitoring” for patient adherencefood packaging that automatically uploads calorie, carb, sodium and other data to a customer’s smartphonepackaging with a unique code -- send a text to very the product is not counterfeitpackaging that lights up when you pick it up!

8. World class innovators ride generational acceleration!

?????

“We always overestimate the change that will occur in the next two years and underestimate

the change that will occur in the next ten. Don’t let yourself be lulled into inaction.” Bill Gates

“Progress is great, but it’s gone on far too long”

Ogden Nash

half of the global population <25globally wired, entrepreneurial, collaborative, change orientednow driving rapid business model change, and industry transformation as they move into executive positions

“Some people see a trend, and see a threat. Innovators see the same trend, and see an opportunity”

think bigstart small scale fast

ObserveThinkChangeDareBanishTryQuestionGrowDoEnjoy!

Jim CarrollAuthor, Columnist, Nice Guywww.jimcarroll.com 905.855.2950