Last month, I completed an incredible week of brain stretching. On September 17-19, we held the annual TWIN Global conference in Chicago, a carefully curated event of 300+ top leaders representing corporations, entrepreneurs, nonprofits, academics, military, and the arts. We gather annually to explore, debate, and dialogue about how to achieve global prosperity through the exchange of ideas, and forging unlikely collaborations. When that concluded, I flew to Washington D.C. to attend the annual NACD Summit, a gathering of over 1,500 board directors who discuss and improve our knowledge about board governance, and challenges that face leadership in public, private, and nonprofit organizations. At the end of the week, my brain felt as though it was going to explode. At both events, a terrific lineup of topics, presented by engaged speakers and attendees, perturbed and challenged my paradigms. It was a healthy dose of innovative thinking as I consider my role in board leadership and business in the coming years.
The topic that was common throughout both conferences was the pace of change and disruption that we will undoubtedly experience in the next decade. As we consider innovations in technology, data collection and management through AI, speeds of communication through 5G, automation through robotics and drones, and increasing technological advancements in bioengineering and medical breakthroughs, the potential of progress is tremendously exciting. However, we also took sobering stock of a global backdrop of geopolitical conflict, heightened religious fractioning, an increased disparity of wealth, growing distrust of establishment, and a continued shift in the climate of our planet. These factors contribute toward a significant increase in discord and conflict.
In many instances, the elements of innovation that excite me seem to be the very topics that cause concern. Technological progress is inevitable, but will we be able to handle it properly? Underpinning my consternation is the belief that unless we share a strong set of values in our collective humanity, we are headed for a future we won’t want to see.
- Collection of data can be tremendously positive when used to compare research results in fighting diseases such as cancer and Alzheimer’s. However, Facebook and Cambridge Analytica taught us that misuse of data collection results in biased actions and infringement on personal privacy.
- 3D printing can enable efficient delivery of products in real-time environments, eliminating cost and time constraints of production and shipping. However, it can also be used to print weapons to avoid required registration, or products that fail to meet quality standards.
- Robotics promises to take the place of humans performing repetitive and dangerous jobs, and in places that are difficult to access. However, they could displace significant sectors of the population, creating large groups of unemployed workers who are not adequately trained for other jobs.
- AI technology holds the promise of improved forecasting of natural disasters, enhanced automation, and elimination of human errors. However, misuse of AI can also facilitate creation of more deep fake videos, and dangerously biased AI modeling.
In all industries, technology can be the basis for improving our world. In consumer-facing industries, we’ve already seen the impact that it has had on the retail, communications, and home entertainment worlds. Amazon, Apple, and Netflix have redefined many of our day-to-day habits, and have created more opportunities for people to access products and services previously out of reach. In the industrial segment, technology will increase use of data and reduce cycle time as well as the need for humans to perform dangerous tasks. However, in a society void of fairness, compassion, and respect for differences, the malicious use of technology can be destructive in the hands of those focused on furthering positions of power, politics, and greed.
The importance of continuing to build fairness, compassion, and empathy in our educational system, mentoring efforts, and in our private and public sectors takes on an elevated level of importance as we move forward in this world of unprecedented change. Leadership becomes even more important as we balance the progress of technology against the backdrop of humanity that makes our species so special.
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