The oil and gas industry is one of the most capital-intensive industries in the world. Together with the automotive and aeronautical industries, the oil and gas industry operates at such a massive scale that adjusting to emerging trends has proven difficult. In fact, although the Organization of Petroleum Exporting Countries (OPEC) notes that technological advancements have more than doubled Ultimately Recoverable Resources (URR) since 1980, many activities in the industry still operate as those from 30 years ago. Digital transformation, while rapidly sweeping other industries, has encountered significant resistance from the oil and gas industry. Some of the main reasons ... Read more
When executives from Toyota Material Handling joined us for a custom program in Silicon Valley focused on corporate innovation and startups working with the latest technologies, we took them deep into the tech hub. It was certainly uncharted territory for many of them and while there were a few turbulent moments along the way, their reactions told us it was a journey they were glad to have made. The three-day tour we designed for the company was months in the planning so if the executives felt a little overwhelmed at times that meant they were learning, which was exactly the ... Read more
Motivated in equal measure by both business and pleasure, a recent trip to Silicon Valley for eight members of the Young Presidents’ Organization (YPO) was in part an annual meet-up; a chance to get together with old friends and catch up on the latest news. But it was also a fact-finding mission; an opportunity to get acquainted with the technologies and business models of today and tomorrow which are having – or will have – the biggest impact on our lives. The YPO group may have thought that in their decades-long careers they had seen it all but the trip ... Read more
It is estimated that there are approximately 3x more IoT connected devices than humans on earth.
By Andy Zhulenev This is the first part of the SVIC original series to discover the technology breakthroughs that go beyond automation of manufacturing and digitization of information. The global economy is undergoing massive disruption. This “Fourth Industrial Revolution” brings us a world of cyber-physical systems, characterized by the merging of physical, digital, and biological realms in profound ways. Artificial intelligence (AI) serves as the primary catalyst of this transformation. Thus, companies need a deep understanding of technological trends. And any organization that aims to succeed in this new era of continuously accelerating change will need to significantly adjust ... Read more
Silicon Valley Innovation Center kicks off 2016 with Smart Investing and IoT— a disruptive conference This year, 5.5 million new “things” will become connected every single day, a 30% rise from 2015 (Gartner). By 2020, the world will have no less than 20.8 billion connected devices (Gartner). Not only that, but forecasts predict $6 trillion will be the amount invested on IoT solutions over the next half decade! (Business Insider). The face of business as we know it today, will experience tectonic shifts once again as governments and companies alike make long strides towards cutting operating costs, optimizing productivity, growing across ... Read more
Over the past 25 years the internet has transformed our lives in ways that we could hardly have imagined a generation ago. Throughout all levels of business and society, whether we’re at work, or on our morning commute, or shopping for a new iPhone 6, we now rely on the internet and the instantaneous access to information it brings us. In fact, our daily lives and routines are so structured by the internet that we scarcely stop to remember what life was like before the world wide web. What did people do in 1992 before email, before texting, before Google!? ... Read more
n case you haven’t heard the Internet of Things is now, according to Gartner’s annual report, the most hyped technology, and has even replaced Big Data to claim that distinction. Indeed, we hear more and more nowadays about this new technological paradigm. In a nutshell, Internet of Things is about connecting everyday daily household objects such as television sets, cars, homes, kitchen appliances, to the web to create ubiquitous communications. The Internet of Things really represents the next iteration of the internet, or as sometimes it’s called, Web 3.0, and some are predicting that this will be bigger than anything we’ve ... Read more