Unleashing IT Rohit Talwar ILTA Conference CEO Nashville Fast Future Research [email protected] August 20th 2014 www.fastfuture.com What we do Foresight Research Helping you explore and understand the roadmap of economic, business, scientific, technological, social, political and environmental trends, forces, developments and ideas shaping the future of the sector Consulting Helping you create future strategies, business models and innovations to help respond to and create disruptive change Speaking and Moderating Delivering keynote speeches offering inspiring insights into a changing world and how others are responding to the future Future Leadership Programs and Events Designing high impact leadership development programs, workshops and events that encourage new thinking, bring the future to life and enable you to develop an action agenda Business Design and Innovation Facilitating development of innovative, future proofed designs for products, services, processes and customer experiences Contents • Presentation p. 4 • About Fast Future p. 47 • Image Sources p. 62 ILTA Legal Technology Future Horizons Project • Key business, legal and IT trends and developments • Timeline of emerging technologies and IT developments with high potential legal impact • Explored IT’s transformative role in future legal business models and service differentiation • Strategic imperatives for effective legal IT • Conducted 01/13- 03/14 Launch – 05/14 • 6 Sponsors • Desk research; interviews with managing partners, CIO’s, vendors, futurists and technologists; global surveys on business applications of IT (499 responses) and emerging technologies (223 responses) ‘Future Proofed’ Organisations Work on 3 Horizons in Parallel 1-12 Months 1-3 Years 4-10+ Years Operational Drive for Creating the Excellence Innovation Future Efficiency, Growth When Worlds Collide Can we Change our DNA? Play by the Create a Rules of the New Game Game Factors Redefining the Sector Intense Competition Strategy, Talent, Lawyer Ratings, ICT, Insight, Ideas, Responsiveness, Innovation, Financing, Structure, Business Models and New Ventures Environmental Turbulence Accelerating Pace of Technology Diffusion and Disruption ...with Associated IT Management Challenges Client Needs: Global, Transparency, Speed, Quality, Insight, Value and Innovation Complex Risks 67% Security Concerns 57% Shorter / Faster Business Cycles Differentiation, Automation, Consumerization, Commoditization, and the Battle for Premium New Ideas Reshaping Industries Barbarians at the Gate 77% IT Firms Offering Direct Delivery 58% New Entrants = Biggest Disruptors Aliens in our Midst ‘Magic’ and Science are Blurring Mapping and Uploading the Human Brain Cognitive, Genetic, Physical and Electronic Enhancement of the Human Body The biological era is emerging Embracing the Transformative Role of IT Talent: Customer Develop and Centric Leverage ‘Hive Mind’ Staff Innovate to Re-engineer Differentiate Processes Technology Timeline Our Technologies are Evolving From the Desktop... ...to Portable and Mobile ... ...to Wearable... ...to Embedded... ... And Connected to an Immersive Multi- Sensory / Multi-Sensor ‘Internet of Everything’ Artificial Intelligence is Going Mainstream 88% AI advisers / helper apps will structure legal documents and check content generated by lawyers Blockchain Technology The Quest for Response Speed, Flexibility and ROI Unleashing and Embedding Technology 73% Capacity for Rapid IT- Enabled Innovation: Critical Differentiator 88% Emerging Technology Integral to Courts Strategic Applications for IT Value chain enabler Value creator Collaboration enhancer Service reinvention Force multiplier Data driven insight End to end visibility Online delivery Cost and efficiency Just in Time Training Pre-emptive Security Reporting Multi-Level Collaboration (Weightmans LLP) Creating Magic – Developing ‘Wow Factors’ for Different Customer Types Unleashing Big Data (Eversheds Big View) Enable New Structures / Business Models (Keystone) Identify and Track Emerging Sectors Firm Leadership Challenges Global Mindset, Differentiated and Magnetic Acknowledge Chaos and Disruptors, Rethink Talent and Redefine Risk Embrace the Opportunity and Pursue Process and Technology Excellence IT Management Imperatives • Strategic • Value Adding • Operational Strategic - Think Like a Consultancy (Taylor Wessing) Close business alignment, strategic approach to management of IT and building a radar / sense making Value Adding Enabling innovation, value creation, communication, collaboration and greater employee mobility Operational - Process and Project Management (Seyfarth Shaw) Evolving an strategic IT staff profile; delivering cost and efficiency gains; mastering data and knowledge; management of external partners; flexible technology infrastructure Conclusions • Worlds are Colliding • Constantly Changing Reality • Massive Opportunity • No Business Without IT? • Risk Rich Environment • Hope is not a Strategy About Fast Future Designing Your Future - Key Trends, Challenges and Choices • 50 key trends • 100 emerging trends • 10 major patterns of change • Key challenges and choices for leaders • Strategic decision making framework • Future Scenarios • Key futures tools and techniques Reinventing the Airport Ecosystem • Drivers of change • Science and technology advances • Customer expectations • Innovation priorities • Strategies and business models • Surveys to test ideas and scenarios on a global audience • Models for managing tomorrows airport ecosystem • http://www.amadeus.com/airlineit/resour ces/reinventing_the_airport_ecosystem/i ndex.html?OADS=78 ILTA Legal Technology Future Horizons Project • Key business and legal trends and forces • Timeline of emerging technologies and IT developments with high potential legal impact • Explores IT’s transformative role in future legal business models and service differentiation • Defines strategic business and IT imperatives • 6 sponsors - combined desk research, interviews with managing partners, CIO’s, vendors, futurists and technologists, global surveys on the business applications of IT and emerging technologies • http://www.iltanet.org/Downloads/LTFH-Report.pdf • 200 emerging technology developments http://www.iltanet.org/Downloads/TechTimelineAppendixLTFH.pdf Futurium - Science and Technology Transformations Shaping the World of 2050 • European Commission project • Examined 87 potential Futurium developments and trends • Clustered into 11 overarching future societal themes • Content identified through a combination of crowdsourcing via the Futurium web platform, suggestions from the EC, and ideas proposed by our team • http://ec.europa.eu/digital- agenda/futurium/ ACCA / IMA – 100 Drivers of Change • Identifies 100 drivers of change impacting business and the accounting profession • Outlines future scenarios for the accounting function • Highlights strategic imperatives for business and the accounting function • ‘5 minutes on’ executive summary • Report: www.accaglobal.co.uk/en/research- insights/accountancy-futures/drivers- change.html Hotels 2020 • Identifying key drivers of change for the globally branded hotel sector over the next decade • Examining the implications for: Hotel strategy Brand portfolio Business models Customer targeting Innovation http://www.amadeus.com/hotelit/ beyond-segmentation.html Convention 2020 • Global strategic foresight study to help the meetings industry prepare for the decade ahead - Industry-wide sponsors • Future strategies for venues, destinations and agencies Clients - Professional Services Fast Future Clients Technology, Media and Banking and Financial Services Association) Sara Lee Telecoms ABN AMRO JLT Group United Biscuits Kennedys 3M Actis KPMG BT Alliance & Leicester Government and Intergovernmental Linklaters Cable & Wireless American Express Defra – Department for Environmental, Food Moore Stephens Chloride AXA and Rural Affairs Mott MacDonald CIO Connect Chartis DG Connect, European Commission Norton Rose Fulbright Etisalat Citibank DTCM - Dubai Department of Tourism and PwC Gartner DeutscheBank Commerce Marketing RSM Tenon GE HSBC Dubai Chamber of Commerce Simmons and Simmons Hibu / Yell / Yellow Pages ING Group Government of Finland Wragge Lawrence Graham & Co Hyland Software Invesco Government of Singapore IBM Investcorp Ministry of Defence (UK) Intel Morgan Stanley Food, Pharmaceuticals and OECD (Organisation for Economic Co- Microsoft Nomura Healthcare operation and Development) Nokia Royal Bank of Scotland Associated British Foods Office of Science and Technology (UK) O2 Santander Astra Zeneca Saudi Government Orange (EE) Standard Life Bayer Singapore National Horizon Scanning Centre Panasonic Boehringer Ingelheim UK BIS – Department for Business, Innovation Professional Services and Skills RIM (Blackberry) Cargill UK Foreign and Commonwealth Office Samsung ACCA (Association of Chartered Certified Food Service Network Europe UK Health Modernisation Agency SAP Accountants) GlaxoSmithKline UK Home Office Siemens Berwin Leighton Paisner NHS London US Department of Defense The BBC Crowe Horwath NHS West Midlands T-Mobile Deloitte Novartis twofour54 Ernst & Young Pepsi Vodafone ILTA (International Legal Technology Pfizer Fast Future Clients Commercial and Industrial Philip Morris Emirates Mumbai Airport ACE (Association for Consultancy Playtex FCm Travel Aeroports de Paris Future Travel Experience Europe / Asia / Schiphol Airport, and Engineering) Shell Global Vancouver Airport Ball Corp. 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