Welcome to Get Digital, the 3rd and final Dice Mini-Conference, and what a way to end the year! Our afternoon consisted of three engaging speakers who filled the room with enthusiasm and excitement while sharing their stories and journeys. As you’ve already guessed the topic for the day was digital and each speaker expressed the importance of technology when establishing or developing a business. I must say, I thoroughly enjoyed this conference. The great variety of wisdom shared by the speakers made the event very engaging and allowed me to gain something new from each speaker.
Dr. Johnny Walker
Our afternoon was kicked off by Dr. Johnny Walker, an international radiologist, who is CEO of Health Founders and Jinga Life. He gave us a detailed account of his journey so far, with some compelling stories of people he has met and places he has been around the world. Dr. Walker is devoted to helping patients and improving the lives of people globally. This is clear by the number of projects he has worked on to date.
Dr. Walker focused on deviating the healthcare system away from the hospital using a digitalised platform, that is available for use 24/7. He began by building tele-radiology clinics around Australia, and bit-by-bit, he built Global Diagnostics. They look after thousands of patients all over the worlds. It takes whatever type of scan is needed, transports them through a webpage porter to a panel of radiologists, who are alert wherever they may be. It was a total game changer!
After some time, they got to a point where they grew huge, but they didn’t know what to do or where to go next. He argued that there was a time for disruption. He created Jinga Life, which is like a digital file of an individual’s medical records which can be viewed and monitored at any time. Things like allergies, doctor’s visits, previous sicknesses are shown. Everything from ‘the womb to the tomb’.
A captivating opening to our event, which aroused my curiosity and certainly left me amazed!
Next to the stage was David Erixon, a native Swede who is head of digital and customer innovation at Ulster Bank. From his presentation, we gained an insight into the banking and financial sector, like the medical sector provided by Johnny Walker. The use of digital innovation used in the financial sector is growing considerably and he provided us with some surprising statistics to back this up. Last year in Sweden, the number
of cash transactions amounted for just 2% of the total overall transactions in the country. Unbelievable! And this figure is expected to drop significantly in the coming years as they are issuing less and less physical money.
“90% of all transactions in Sweden are digital.”
David showed us a quick video demonstrating how a company can gather and connect various pieces of data points, which allows you to create and trigger your own actions. 22 Seven gains access to all aspects of customer bank accounts. It looks like what a bank can do except it does more. Not only can you make better decisions about your money, you can also link them decisions to your actions by 22 Seven. An example David used was, when your salary comes in every week or month. It gives you indication of the bills you usually pay, like electricity, insurance etc. and then after these deductions, it provides an estimate of the discretionary money available that you can spend.
“Predicted. Proactive. Prescriptive.”
A short video clip showing how it works
David also talked about the importance of bank APIs, which involves bringing people together who want to improve the banking system. Its main aim is to fulfil the needs of their users, which is David mentioned is their primary goal overall.
If we think of all the Ulster Bank branches open today in the Republic of Ireland, there are currently 110. After carrying out some research I discovered that 30 of these branches are set to close shortly. This “reflects the greater role played by technology and digital banking in how Ulster Bank delivers services to its 1.1 million customers here, and a need to reduce its significant cost-income ratio.” (The Irish Times, 2007). Even entering a bank today, a lot of actions are completed on machines, without the need of staff assistance. I believe the future of banking will not require any banking counters, or even ATM machines.
Our final speaker of the evening was Alistair Croll, who is an author of the book ‘Lean Analytics’, and a public speaker with over 20 years’ experience. He spoke about how we change society through innovation.
“Technology isn’t interesting, but discontinuity is.”
Discontinuity means an “unpredictable, unforeseen, natural or man-made sudden change… that confounds or disrupts earlier expectations.” (BusinessDictionary.com, 2017). In other words, with the development of new digital technology, things aren’t the same afterwards. He gave some examples, like people now using google maps to find their way around, instead of a map made from paper.
The evolution of the smartphone is one of the most profound changes in the last 10 years. Alistair provided us with some thought-provoking facts. The average person checks their phone 42 times per day, and the average 18-24-year-old checks their phones a remarkable 82 times. Even within 5 minutes of waking up, people are drawn to pick up their phone and browse social media. The phrase “I can’t imagine my world without my smartphone”, is a common discontinuity.
Alistair concluded his presentation talking about the future. Company’s shouldn’t wait for new developments to happen. When something becomes popular, another thing becomes scarce. All this innovation leads to efficiency and creates demand.
Efficiency -> means lower cost -> means new uses -> means more demand -> means more consumption
Alistair succeeded in maintaining everyone’s attention throughout his speech which isn’t easy when you’re the last speaker of the day. (and of the year). I have to say, he really engaged and interacted with the audience, while informing us on this huge topic in today’s society.
For more information about Alistair, I found an interesting article HERE, that is worth a read!
So there you have it, the last our mini conferences for the year have drawn to a close, and unfortunately so have my blog posts. Thanks a million for reading and hope you all enjoyed my posts. That’s everything from me, feel free to comment and share.
BusinessDictionary.com. (2017). What is discontinuity? definition and meaning. [online] Available at: http://www.businessdictionary.com/definition/discontinuity.html [Accessed 24 Apr. 2017].
The Irish Times. (2017). Up to 30 Ulster Bank branches in Republic under threat following review. [online] Available at: http://www.irishtimes.com/business/financial-services/up-to-30-ulster-bank-branches-in-republic-under-threat-following-review-1.3000228 [Accessed 24 Apr. 2017].
Pictures from this blog are a mixture of my own, google images and the slides provided by each speaker.