Session 2 – The Digital Future

Join our three speakers and chair Sandra Peter in this session as they engage with pressing questions of our rapidly changing, digital world.

After the three talks our speakers will discuss questions from the audience in a 20 minute Q&A panel session.

Ben Gilchriest (Capgemini USA): “Why we shouldn’t accept the high failure rates of innovation labs”
“About 80 to 90 percent of innovation centers fail”.

Innovation is unpredictable, it’s messy, and it’s hard. Yet, in no other business function is this rate of failure accepted, even celebrated. As companies look to innovation to address market disruption and accelerate their digital transformations, new labs are opening at a rate of one every four days – we shouldn’t accept that most of those won’t make it.

In this talk Ben will uncover the traps that others have fallen into and explore a different way to tackle innovation labs.

Headshots, Sydney, CBD
More about Ben.
Simon Neaverson (GovernRight): “The Challenge of Modern Governance in an environment of Change”
Governance obligations in 2017 are very different to expectations 30-40 years ago. Businesses are being disrupted seemingly overnight, by digital technologies and other factors such as social media campaigns against a brand. A recent Deloitte* study found “With more than 35% of companies experiencing a value killer event in the last decade, dealing with black swan [high-impact, low-probability] events and interdependent risks will remain a critical challenge.” This puts the oversight of emerging opportunity and risk items front and centre in effective, modern governance.

Join Simon as he discussed disruption and change from the perspective of those with an oversight obligation. Simon will highlight the evolution of expectation from “what did the directors know” to “what should they know”. Simon will conclude by offering a model for meeting the demands of modern governance.

More about Simon.
Jeongmin Seong (McKinsey Global Institute): “China’s digital economy: A leading global force”
China is already more digitized than many observers appreciate. China is one of the world’s largest investors and adopters of digital technologies, and is home to one-third of the world’s unicorns. China has the scale to drive rapid commercialization of digital business models, and has the advantage of a very large home market of consumers who are young and eager to embrace digital in all its forms. Three aggressive, giant internet companies with global reach — Baidu, Alibaba, and Tencent, or BAT — are creating a digital ecosystem that touches every aspect of consumers’ lives. The government is actively encouraging digital innovation and entrepreneurship by giving companies room to experiment and offering support. China’s digital transformation is already having a profound impact on its own economy, and is likely to have an increasing influence on the world. As China digitizes, industries will experience huge shifts in revenue and profit pools across the value chain. This creative destruction is happening globally as the world digitizes, but it is likely to happen more quickly and be on a relatively large scale in China given its combination of inefficiencies in traditional sectors and massive potential for commercialization. Players who emerge as winners are likely to be of sufficient scale to influence the global digital landscape. JeongminS-2
More about Jeongmin.