As we think about the demands for reskilling of work forces, it is overshadowed by the movement of the Doomsday Clock now at 100 seconds—the closest time to midnight ever “posted” regarding the likely extinction of humankind.  Why do I bring this up?  It is about scaring the hell out of you, or as management consultants like to charge you for, “creating the burning platform?” Should reskilling even be a concern against the backdrop of huge climate challenges and caustic politics?  With rising sea levels and temperatures, global famine, and unchecked populations, it would seem the time is nigh for anything except macro issues—and reskilling work forces is not consistently in the top 10.However, unlike those “learned” individuals who contemplate the end of humans, I find myself increasingly contemplating the fate of unprepared humans—those who lack the skills and capabilities to survive the expansion of the Fourth Industrial Revolution (4IR), or what some have coined “Industry 4.0”.  We have an Innovation Predicament (report released February 2020) created by the rapid adoption of hyper accelerated innovation without understanding fully the ramifications and believing that all innovation is benevolent.  An intensifying challenge for reskilling of existing worker involves caustic local and national politics.  Individuals are bringing their polarized beliefs and values to work with them resulting in management challenges previously not seen since the Vietnam War.  As divisions grow progressively vemonistic across factories, offices, and universities, so do the challenges of adapting to growing digital demands by existing workers who do not have the required competencies.  These political animosities spill over into delivery supply chains (e.g., partners, outsourcers) making it more difficult and expensive to serve the customer and recognize corporate profitability. To reinforce these occurrences, from a recent poll (see Society for Human Resource Management), 59% of workers state that politics have become more of an issue compared to four years prior.  Additionally, as the 2020 U.S. presidential elections draw closer, the dysfunctionality between working peers is anticipated to rise significantly as tensions come to the surface and divisive topics presented by candidates as “us versus them”.  The demands for reskilling due to innovational progression are extraordinary—but so are the limiting factors inhibiting enterprise efforts.

<description>
 &lt;p&gt;As we think about the demands for reskilling of work forces, it is overshadowed by the movement of the Doomsday Clock now at 100 seconds—the closest time to midnight ever “posted” regarding the likely extinction of humankind.  Why do I bring this up?  It is about scaring the hell out of you, or as management consultants like to charge you for, “creating the burning platform?” Should reskilling even be a concern against the backdrop of huge climate challenges and caustic politics?  With rising sea levels and temperatures, global famine, and unchecked populations, it would seem the time is nigh for anything except macro issues—and reskilling work forces is not consistently in the top 10.&lt;/p&gt;&lt;p&gt;However, unlike those “learned” individuals who contemplate the end of humans, I find myself increasingly contemplating the fate of unprepared humans—those who lack the skills and capabilities to survive the expansion of the &lt;strong&gt;Fourth Industrial Revolution &lt;/strong&gt;(&lt;strong&gt;4IR&lt;/strong&gt;), or what some have coined “&lt;strong&gt;Industry 4.0&lt;/strong&gt;”.  We have an &lt;strong&gt;Innovation Predicament&lt;/strong&gt; (report released February 2020) created by the rapid adoption of hyper accelerated innovation without understanding fully the ramifications and believing that all innovation is benevolent.  &lt;/p&gt;&lt;p&gt;An intensifying challenge for reskilling of existing worker involves caustic local and national politics.  Individuals are bringing their polarized beliefs and values to work with them resulting in management challenges previously not seen since the &lt;strong&gt;Vietnam War&lt;/strong&gt;.  As divisions grow progressively vemonistic across factories, offices, and universities, so do the challenges of adapting to growing digital demands by existing workers who do not have the required competencies.  These political animosities spill over into delivery supply chains (e.g., partners, outsourcers) making it more difficult and expensive to serve the customer and recognize corporate profitability. &lt;/p&gt;&lt;p&gt;To reinforce these occurrences, from a recent poll (see &lt;strong&gt;Society for Human Resource Management&lt;/strong&gt;), 59% of workers state that politics have become more of an issue compared to four years prior.  Additionally, as the 2020 U.S. presidential elections draw closer, the dysfunctionality between working peers is anticipated to rise significantly as tensions come to the surface and divisive topics presented by candidates as “us versus them”.  The demands for reskilling due to innovational progression are extraordinary—but so are the limiting factors inhibiting enterprise efforts.&lt;/p&gt;

 </description>

During an age of mass economic disruption and customer reorientation, innovative leaders will wrestle not only with the challenges of reskilling existing work forces, but also must filter every initiative through politics, social chaos, and industry axioms if they are to add clarity to the Innovation Predicament.

The Challenges of Reskilling Work Forces -- Part 2

The start of this series will evoke some visceral responses—my apologies as we begin.  This series is designed to question our foundations—in an age of disruptive innovation, are bankers necessary?  We can see this taking place in the real estate markets where increasingly digitalization and automation are challenging the “necessity” of traditional commissions estimated to be over $75 billion per year—or approximately .30% of U.S. GDP. We can witness this in the once tightly linked corporate bond market where in one investment bank shed 99% of their staff—due to innovation, data, process, and technology automation.Additionally, there is #Gartner which has been quoted that “Most banks will be made irrelevant by 2030” with “80% of financial firms” out of business or competitively swallowed—about 1.3 million out of the 2.05 million people now employed will be out of work. Others believe that across all of finance—of which banks comprise just a segment—over 6 million workers will be displaced by 2025.  Where will these workers fit in now that algorithms have replaced their job description?Yet, there is another school of thought.  Others believe that the very technology putting people out of work and forcing them to seek alternative employment will boost job markets.  Even as these workers struggle for skill relevancy and face rising personal costs for reskilling, the disparity of what #FSBO (financial services and banking organization) leadership should be doing when it comes to innovation, reskilling of work forces, and products and services offered to customers, span alternatives across diametric poles. That is the idea behind this series—to explore the challenges bankers face. Not to say bankers don’t matter—but to understand what DOES matter—to the customer, to the economy, and to the bankers.  Is it not better to ask the questions ourselves then to react to market changes? As consumers move 100% digital, as neobanks which have no physical footprint gain market share in an age of financial commoditization, as branch closures accelerate due to uncompromising legacy investments and strategy, should banks which have the intellect and experience be leading the disruptive transformation?  Or, are we going to wait and watch institutional numbers dwindle to “irrelevancy” (i.e., the decades long trend of losing 200 to 250 banks every year)? All this begs a “few” questions regarding financial innovation.  First, does innovation create banking strategy or does banking strategy drive innovation?  Secondly, as global populations move to near 100% subscription to online banking products by 2030 (under 50% now), will governments step in to enact greater personal security for transactions and identities? Thirdly, will banks emerge, a reformulation if you will, as data science and analytic enterprises feeding retail, transportation and even educational institutions?Indeed, there is much to contemplate, debate, cajole, and scream about as we ask, “Are Bankers Necessary?”

<description>
 &lt;p&gt;The start of this series will evoke some visceral responses—my apologies as we begin.  This series is designed to question our foundations—in an age of disruptive innovation, are bankers necessary?  We can see this taking place in the real estate markets where increasingly digitalization and automation are challenging the “necessity” of traditional commissions estimated to be over $75 billion per year—or approximately .30% of U.S. GDP. &lt;/p&gt;&lt;p&gt;We can witness this in the once tightly linked corporate bond market where in one investment bank shed 99% of their staff—due to innovation, data, process, and technology automation.Additionally, there is #&lt;strong&gt;Gartner&lt;/strong&gt; which has been quoted that “&lt;i&gt;Most banks will be made irrelevant by 2030&lt;/i&gt;” with “&lt;i&gt;80% of financial firms&lt;/i&gt;” out of business or competitively swallowed—about 1.3 million out of the 2.05 million people now employed will be out of work. Others believe that across all of finance—of which banks comprise just a segment—over 6 million workers will be displaced by 2025.  Where will these workers fit in now that algorithms have replaced their job description?&lt;/p&gt;&lt;p&gt;Yet, there is another school of thought.  Others believe that the very technology putting people out of work and forcing them to seek alternative employment will boost job markets.  Even as these workers struggle for skill relevancy and face rising personal costs for reskilling, the disparity of what &lt;strong&gt;#FSBO&lt;/strong&gt; (financial services and banking organization) leadership should be doing when it comes to innovation, reskilling of work forces, and products and services offered to customers, span alternatives across diametric poles. &lt;/p&gt;&lt;p&gt;That is the idea behind this series—to explore the challenges bankers face. Not to say &lt;strong&gt;bankers don’t matter&lt;/strong&gt;—but to understand what &lt;strong&gt;DOES&lt;/strong&gt; matter—to the customer, to the economy, and to the bankers.  Is it not better to ask the questions ourselves then to react to market changes? &lt;/p&gt;&lt;p&gt;As consumers move 100% digital, as neobanks which have no physical footprint gain market share in an age of financial commoditization, as branch closures accelerate due to uncompromising legacy investments and strategy, should banks which have the intellect and experience be leading the disruptive transformation?  Or, are we going to wait and watch institutional numbers dwindle to “irrelevancy” (i.e., the decades long trend of losing 200 to 250 banks every year)? &lt;/p&gt;&lt;p&gt;All this begs a “few” questions regarding financial innovation.  First, does innovation create banking strategy or does banking strategy drive innovation?  Secondly, as global populations move to near 100% subscription to online banking products by 2030 (under 50% now), will governments step in to enact greater personal security for transactions and identities? Thirdly, will banks emerge, a reformulation if you will, as data science and analytic enterprises feeding retail, transportation and even educational institutions?&lt;/p&gt;&lt;p&gt;Indeed, there is much to contemplate, debate, cajole, and scream about as we ask, “&lt;strong&gt;Are Bankers Necessary?&lt;/strong&gt;”&lt;/p&gt;

 </description>

In an age of innovation and rising artificial intelligence (#AI), are major functions facing commoditization, disintermediation, or automation as synthetic intelligence increases?  What will remain after data science advancements improve the efficacy of automation, as consumers increasingly move into a fully digital delivery model?

Are Bankers Necessary?

We, that is domestic industries in general, have a problem.  It is a problem that has been growing for decades.  Perhaps it is one we have always had, but more pronounced in one industry or another.  It is accelerating quickly just as technology advances driven by synthetic intelligences, robotics, data availability and processing, and innovation singularity becomes accepted business practices. What is the problem you wonder?  Is it not enough housing?  Is it too easy of credit?  Is it growing caustic politics, or inappropriate human behaviors?  Is it too many regulations, or government malaise on the GSE’s?  Alas, for this discussion, it is something else.

<description>
 &lt;p&gt;We, that is domestic industries in general, have a problem.  It is a problem that has been growing for decades.  Perhaps it is one we have always had, but more pronounced in one industry or another.  It is accelerating quickly just as technology advances driven by synthetic intelligences, robotics, data availability and processing, and innovation singularity becomes accepted business practices. &lt;/p&gt;&lt;p&gt;What is the problem you wonder?  Is it not enough housing?  Is it too easy of credit?  Is it growing caustic politics, or inappropriate human behaviors?  Is it too many regulations, or government malaise on the GSE’s?  Alas, for this discussion, it is something else.&lt;/p&gt;

 </description>

With limited population growth domestically, the search for advanced technology skills must embrace aging populations and the explosion of megacities beyond our shorelines—new, continuous models of corporate education, training, and partnering must be adopted.

The Challenges of Reskilling Workforces, Part 1

What happens when science and technology advance far enough to create fully autonomous, AI robots(i.e., human robots)?  Will they be religious?  Will they possess a soul?  Will our utopian innovations have a place for humans in their world?  What happens when we “join or bond” with our inventions?Will we create a new biologic species where our inventions dominate our lives? The next three decades will usher in a golden age for autonomous, artificial intelligence.  As the population peaks, the first wave of our intelligence multipliers will reach their zenith.  As the world reaches 10 billion individuals and synthetic intelligence reaches a level of human consciousness, a fork will present itself—how will these “new, synthetic lives” be governed?  Will these emerging, deep intelligence beings be part of existing societies, or will they split off, forming their own rules and structures?  Do traditional humans fully believe that if they create hyper-accelerated intelligence, why will they listen to “reason” from lesser-intelligent “animals”?  How will those innovators, scientists, and consumers defend their blind faith in creations that are no longer human influenced or controllable?

<description>
 &lt;p&gt;What happens when science and technology advance far enough to create fully autonomous, AI robots(i.e., human robots)?  Will they be religious?  Will they possess a soul?  Will our utopian innovations have a place for humans in their world?  What happens when we “join or bond” with our inventions?Will we create a new biologic species where our inventions dominate our lives? &lt;/p&gt;&lt;p&gt;The next three decades will usher in a golden age for autonomous, artificial intelligence.  As the population peaks, the first wave of our intelligence multipliers will reach their zenith.  As the world reaches 10 billion individuals and synthetic intelligence reaches a level of human consciousness, a fork will present itself—how will these “new, synthetic lives” be governed?  Will these emerging, deep intelligence beings be part of existing societies, or will they split off, forming their own rules and structures?  Do traditional humans fully believe that if they create hyper-accelerated intelligence, why will they listen to “reason” from lesser-intelligent “animals”?  How will those innovators, scientists, and consumers defend their blind faith in creations that are no longer human influenced or controllable? &lt;/p&gt;

 </description>

With augmented reality becoming common, virtual reality growing in its sophistication, and the ability to superimpose innovations on top of “common” reality continues to rapidly accelerate.  In general, it seems that our innovation advancements in sciences, healthcare, transportation, entertainment, and finance have afforded us the ability to adjust our circumstance to create a world we would like to see.  We alter our perceptions intentionally, and sometimes in the process, permanently alter current realities.  We seek to control multifaceted categories of our daily lives and replace them with a utopia which we embrace with limited due diligence. 

The Second Coming of the Renaissance of War

Addiction is an animal “thing”—it’s an unpleasant human disposition for some people.  In fact, there are a few experts that make a point to say every person on this planet has some form of addition.  It could be addicted to TV, sweets, news feeds, social media, gaming, gambling, alcohol, drugs, sex, money, food, traveling, work, another person, sports, ice cream, GOT, and the lists go on and on and on. Innovation addiction is relatively new, but from the time the first Space Invaders consoles hit the college campuses, the fire of seduction was ignited.  And, while addiction is often characterized as an individual issue or a demographic grouping, it can also be a corporate concern or an industry obsession.  Beyond individuals, the demand for data, big data by current classifications, is all encompassing in a world coming to be dominated by artificial intelligence.  As intelligence multipliers expand, so does the exponential volumes needed to train and feed these human created algorithms of hidden complexity and growing capabilities.

<description>
 &lt;p&gt;Addiction is an animal “thing”—it’s an unpleasant human disposition for some people.  In fact, there are a few experts that make a point to say every person on this planet has some form of addition.  It could be addicted to TV, sweets, news feeds, social media, gaming, gambling, alcohol, drugs, sex, money, food, traveling, work, another person, sports, ice cream, GOT, and the lists go on and on and on. &lt;/p&gt;&lt;p&gt;Innovation addiction is relatively new, but from the time the first Space Invaders consoles hit the college campuses, the fire of seduction was ignited.  And, while addiction is often characterized as an individual issue or a demographic grouping, it can also be a corporate concern or an industry obsession.  Beyond individuals, the demand for data, big data by current classifications, is all encompassing in a world coming to be dominated by artificial intelligence.  As intelligence multipliers expand, so does the exponential volumes needed to train and feed these human created algorithms of hidden complexity and growing capabilities.&lt;/p&gt;

 </description>

an you imagine waking up without your smart phone, its news feeds, the alerts for topics of interest, or even, texting?  Have you unplugged from the growing intelligence and feeds intertwined in your life, home, and work?  Do you feel helpless, anxious, or out-of-body when you don’t react to the asynchronous interruptions happening with increased frequency?  Are you compelled to change your “status”, take pictures of your surroundings, comment on another person’s comments, post your emotions, and inserting yourself into topics that once held little interest?  Is Twitter part of your psyche—an extension of yourself?  

Innovation Addiction:  The NEW drug of Choice

Innovation arrivals over the next decade will contain 200 years of advancements--but what impact will there be on privacy, daily lives, our relationships, and our future?  With political and cultural polarization dominating headlines, who is asking the questions and discussing the impacts of innovations that is not rooted in a reality show format?  As humans become one with their innovations (e.g., biohacks, transhumanism, artificial intelligence), we are ignoring "the ramifications of innovation singularity."  This podcast show is focused on the ramifications, questioning the implications and giving decision making back to consumers who too often view innovations as benevolent.

Into Our Future

Details

Recent Episodes