Season 2, Episode 7
Cross Industry Movers 20:
Cross Industry Drivers and Profiles in Futureproofing
A webcast presented by the global innovation practice Futureproofing : Next (futureproofingnext.com).
There are 2 significant forces making us rethink business as usual in 2020+. We’ve just experienced the first force—massive socio-economic & geo-political shifts we call Metatrends. The second force is a set of cross-industry drivers—dynamics from industries outside our own that could put new pressure on our companies.
Layered on top of these dynamics is a force we didn’t see coming: COVID-19 and its aftermath.
We invested time and energy looking at which drivers will matter most to business in 2020+ to help us shift our focus on what to do next. We share original research that describes the top 20 disrupted industries.
And, in light of the pandemic all around us on the day of the episode, the conversation had a new level of relevance and impact, as all of us sorted out what’s changed for good, what will snap back, and what needs to be done by leaders to move forward.
Which industries are leading the pack? Are some companies stepping forward with initiatives that can inspire companies in other industries?
Our panelists share specific examples and offer practical wisdom from the front lines of Healthcare, Mobility, Retail, and Finance.
IN THIS EPISODE:
- Futureproofing community’s ranked set of the 20 most disrupted industries
- Top 20 cross-industry trends
- Evidence from key industry players on how industry changes manifest themselves
- An understanding of when these trends should impact industries
- Prescriptions on what leaders and change agents should do to handle their uncontrollable environments
- Insights from global leaders in 4 of the most disrupted industries
With special guests:
- Ted Graham, Head of Open Innovation, General Motors
- Elaine Pratt, Global Marketing Executive – Consumer & Retail, Technology
- Zeev Neuwirth, MD, Chief Clinical Executive for Care Transformation & Strategic Services, Atrium Health
- Kevin Johnson, Innovation Delivery Manager, Euroclear Group, Brussels
Tuesday, April 7th, 2020
Futureproofing Now Webcast Video
Futureproofing Now Podcast Audio
Hosts & Guests
Our website Futureproofing : Next
General Motors: Website
The Uber of Everything;: Website
Atrium Health: Website
ReframiingHealth Care: Website
Creating a New Health Care Podcast: Website
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This Post: https://futureproofingnext.com/crossindustrymovers20
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About This Episode
CONVERSATION TOP-LINE BRIEF
In the wake of COVID-19, leaders are experiencing a dramatic wakeup moment. Companies that respond rapidly and effectively become symbols of what’s possible. Not just to their own industry peers, but to teams in multiple fields. Retail expert Elaine Pratt, shares her admiration of IKEA in the post-COVID world: mobilizing meals, drive-through testing facilities to touch the people in their communities.
Zeev Neuwirth, a physician dedicated to transformation, explains the pandemic as a catalyst for tremendous innovation that led to the acceleration of new reimbursement policies, and a dramatic shift from So much to say–incredibly valuable, inspiring and moving panel today. There was something about the perspectives and messages each of you brought that delivered not only important insights for corporate leaders, but touched the HUMAN side of innovation.
“Whereas before this pandemic, virtual care was 1% or 2% of healthcare delivery. Now, practically overnight, virtual healthcare is at 90%. I don’t even know how to express the enormity of that flip and its implications in that period of time.” —Zeev Neuwirth, MD
We hear from Ted Graham, who addresses not only GM’s rapid and impressive pivot from car production to ventilator production, but also the spirit of how GM’s culture made that rapid responsiveness possible. He cites the OnStar team that’s been delivering an ever-evolving service function to customers for decades that recently tapped into their cross-industry relationships with early responders to assist in the delivery of a baby.
The unifying theme of the discussion is articulated by Kevin Johnson, who observes that not only are financial services, banking, and payments going to evolve quickly, but that the priorities and values for business have experienced a rallying reminder: at our core, our companies exist to serve people. And, we’re reminded that we’re all in this together.
3:04 Sean Moffitt, Futureproofing Next, “We just conducted original research with practitioners who finally view cross-industry forces as significant drivers of change. For the first time since we began the study, corporate leaders believe that the next disruption to their company will come from an organization OUTSIDE their industry. For example, a retailer might be interested in what an AI startup is doing (versus only being concerned about other retailers.)”
4:26 Andrea Kates, Futureproofing Next, “It’s taken a pandemic to bring the world together. We need to look across silos for insights into how to make greater leaps. Because we know it’s urgent to think differently.”
14:36 Elaine Pratt. “The pandemic has accelerated a lot of the trends we were seeing: increased scrutiny of corporate ethics, shift to online shopping and new delivery models, Buy Online Pick In Store, investment in drones and autonomous vehicles.
15:17 Kevin Johnson. “At times like these, it’s actually about people. Your colleagues, your customers. Making sure they’re ok. This pandemic has brought out the HUMAN side…if you watch any horror movie, the first thing that disappears is society. In reality, this crisis has actually brought us all back together.”
16:10 Ted Graham. At the moment, for the time being, we are ALL PUBLIC HEALTH industries. Whether it’s thinking about how we talk to our employees, how they’re doing working from home, their safety and well being while they might be in isolation. That mindset also led to our collaboration with Ventec Life Systems to manufacture ventilators and ramp up an innovative way to serve the public.
17:00 Zeev Neuwirth. “This is the most unprecedented moment in healthcare history. I don’t think we can understand how big a moment this is. The good part is that in the last month, we’ve seen more DEPLOYMENT OF INNOVATIVE TECHNOLOGIES than we have in the past few years combined. That’s the SILVER LINING.
Our brains are not wired for this. There will be a NEW NORMAL–a state of mind and attitude of urgency that will uncover a lot of challenges and deficiencies we’ve had in healthcare. This new mindset will allow us to solve them using technologies and things we can borrow from other industries.
Zeev Neuwirth, 20:22 We’re witnessing unprecedented changes to reimbursement policy. The CMS (Centers for Medicare Services) is spewing out changes in regulations at a pace that no one’s seen before. These changes are removing barriers to payment and reimbursement that existed in virtual healthcare.
The real bottom line is that once consumers get a taste of this new way to experience quality healthcare, I don’t think things will return to where they were before.
23:00 Zeev Neuwirth. What had to move the most to get these dramatic changes to happen. The pandemic was a catalyst. One of the big obstacles used to be payment, so because of the need for patients to NOT show up in person, the people who think about payment as in-person-centric, had to rapidly rethink the model.
28:40 Kevin Johnson. For the past 5-6 years, I’ve been preaching collaboration over competition. Over the years, the financial services industry has been threatened by fintech. At the same time, you see a lot of collaboration: Innovation Investment Funds, Captive Investment Funds, even running Proof of Concepts (POCs) with small startup companies.
I’m based in Brussels and have connections all over the world. Cash is King doesn’t apply right now–lots of things are moving contactless. That affects retail across the board. You need to have a lot of TRUST in the industry behind cashless transactions.
The follow on effect is that your cash flow is DIGITAL.
38:00 Ted Graham. “[The world of mobility has changed.] We realized that one person / one car would not be the wave of the future. New car drivers are more concerned about pairing their phones than about horsepower. Can we sell ‘kilometers/miles enjoyed’ versus simply a driving experience.”
“We started incorporating Design Thinking principles into our culture to make sure we understand the deeper issues of our customers as trends emerge. Our industry and thinking about food, medicines…that would all be areas of mobility we’ll need to understand. Cross-industry collaboration is a must now–it’s not so much borrow without talking as it is work together to address bigger opportunities.”
48:00 Elaine Pratt. “Headwinds for one part of retail will be tailwinds for another. For example, ecommerce, new delivery modes, last mile…many local stores might go out of business, but creative approaches can be transformative and drive customer loyalty in new ways.” Elaine shared a perspective on companies that are showing up in special ways, like IKEA, to serve the broader community (meals, drive-through testing/NHS) by thinking outside of traditional boundaries. Innovative action that can result from leaders engaging in customer empathy. Big retail brands are becoming more flexible: Starbucks, Walgreens and Kroger are offering pickup only. Locally-sourced might be valued even more as communities recover together.
Our F:N Expert Panelists:
Head of Open innovation, GM
Ted Graham is the head of Open Innovation at General Motors where he helps identify partnerships that will help build new forms of mobility including autonomous and connected vehicles. He is also the former Innovation leader at PWC and a McKinsey strategy consultant with a focus on understanding and leveraging people networks to influence the spread of ideas.
Ted often speaks to audiences about The 5 things I learned about disruptive innovation as an UberX driver and how to apply some of these lessons across a multitude of industries on the cusp of disruption. His first hand account was initially released as a widely read LinkedIn influencer post, then a CBC Metro Morning interview and is now part of his book called “The Uber of Everything”.
Over the years Ted has enjoyed diverse pursuits in his spare time: scrabble champion, world ranked Rock Paper Scissors competitor and volleyball magazine publisher.
Managing Director, EP Consulting Services
An innovative and creative thought leader, Elaine’s passion lies at the intersection of consumer trends, retail and technology. She has over 20 years of experience working with consumer-driven global brands, most recently as Global Marketing Director for Consumer & Retail at the multinational consulting firm KPMG. Elaine is the founder of EP Consulting, a marketing and research agency offering strategic marketing, communications and tailored research solutions.
Chief Clinical Executive for Care Transformation and Strategic Services, Atrium Health
Zeev Neuwirth MD serves as the Chief Clinical Executive for Care Transformation & Strategic Services at Atrium Health – one of the largest, leading non-profit hospital systems in the country. In this newly developed role, he is responsible for the design and deployment of a number of highly innovative and unprecedented initiatives, including: the development of a ‘community command center’ with a focus on remote patient/home monitoring and virtual care; a multi-faceted division of emerging care with a significant focus on community care and social determinants of health; and a number of complex chronic care medical home prototypes.
Prior to this most recent appointment, Dr. Neuwirth served as the Senior Medical Director for Population Health; and prior to that, as the Chief Clinical Executive of the Atrium Health Medical Group – a group consisting of approximately 2000 providers. In this capacity, he was responsible for ambulatory quality improvement and leading the redesign of the Primary Care ecosystem at Atrium Health. He also served as an executive leader in the development of the Atrium Health Care Management division, Retail Care & Virtual Care. Dr. Neuwirth is a Board member of the Atrium Health Clinical Integration Network (CIN) and co-chairs the CIN’s Clinical Effectiveness Committee.
In August 2017, Dr. Neuwirth launched a healthcare podcast entitled, Creating a New Healthcare. He has also published a book, Reframing Healthcare – A Roadmap for Creating Disruptive Change, which was released on Amazon in April 2019. In this book, Dr. Neuwirth outlines a comprehensive, sustainable and scale-able roadmap to transforming healthcare delivery into a more consumer-oriented, humanistic and value-based system of care.
Innovation Delivery Manager, Euroclear
Prior to joining Euroclear Kevin was the Centre of Expertise Lead for Innovation at ING, and before that Kevin headed up Innotribe – the SWIFT initiative to reinforce the importance of collaboration in innovation. He has been a part of the FinTech ecosystem since 2014, leading SWIFT’s Innovation Challenges into emerging innovation ecosystems, before successfully launching the Industry challenge programme bringing financial institutions together with FinTech players to collaboratively solve pain points.
At ING his role, with his team was to bring together growth stage FinTech players with business leaders across the bank, to collaboratively solve problems, unlock opportunities, and to bring a customer centric way of working to the bank, by applying ING’s PACE methodology, a blend of Design Thinking, Lean Startup and Agile Scrum.
Kevin brings a wealth of experience from IT Development, to Innovation Consulting and Coaching, with a strong focus on Project Execution, utilizing the ability to sit between the business and IT worlds, ensuring both sides are in alignment. He also uses his experience to help startups explain and develop their value proposition to their customers, and to help corporates see potential in collaboration.
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