Future Today Institute's 2020 tech trends report

Key takeaways of this report:

  • Welcome to the Synthetic Decade.
  • You’ll soon have augmented hearing and sight.
  • A.I.-as-a-Service and Data-as-a-Service will reshape business.
  • China has created a new world order.
  • Home and office automation is nearing the mainstream.
  • Everyone alive today is being scored.
  • We’ve traded FOMO for abject fear.
  • It’s the end of forgetting.
  • Our new trust economy is being formed.

 

How innovations in voice technology are reshaping education — from edsurge.com by Diana Lee
Voice is the most accessible form you can think of when you think about any interface. In education, it’s already started to take off.

It could be basic questions about, “Am I taking a class to become X?” or “How strong are my skills relative to other people?” An assistant can help with that. It could potentially be a coach, something that follows you the rest of your life for education. I’m excited about that. People that can’t normally get access to this kind of information will get access to it. That’s the future.

From DSC:
The use of voice will likely be a piece of a next-generation learning platform.

Voice will likely be a piece of the next generation learning platform

 

From DSC:
The items below are meant for those involved with digital transformation, developing strategy, and keeping one’s organization thriving into the future.


Strategy in the Digital Revolution with Ryan McManus — from dukece.com; with thanks to Laura Goodrich for this resource out on Twitter

Description of webinar:
Today, every business is focused on digital transformation, yet most organizations are struggling to realize value from their efforts and investments. Less than 20% of business leaders believe their digital transformation efforts have been successful. With unprecedented access to data and technology, how is it that firms and their leaders are experiencing such disappointing results?

At the root of the problem is the disconnect between how leaders understand strategy and the new rules of the digital revolution. Most leaders haven’t been taught how to think about a world that is very different from the one which gave rise to popular strategic concepts, and as a result, they apply outdated strategy models and thinking to the new world, trying to squeeze the competitive realities of the digital revolution into linear, analog strategic planning concepts.

In this complimentary on-demand webinar, Ryan McManus, lecturer at Columbia University Business School and Duke Corporate Education, discusses the New Strategy Playbook, including:

  • The current state and evolution of the digital revolution, and what’s next
  • The four levels of digital strategy: how you can adapt your approach to win
  • Why traditional approaches to strategy have reached their limits
  • Implications for leadership development

Example slides:

Also see:

http://dialoguereview.com/how-to-think-strategically-in-2020/

 

Online tool will help ‘Spot’ legal issues that people face — from .pewtrusts.org
Artificial intelligence can boost non-lawyers’ ability to navigate civil court system

Excerpt:

People looking for information on legal questions often start their searches online, without a good handle on the terminology. Today’s machine learning tools can help put nonlegal phrasing into context, using artificial intelligence to match people’s situations with specific legal issues, supplying accurate information and connections to potential services.

A team at the Legal Innovation and Technology (LIT) Lab at Suffolk University Law School in Boston, with funding from The Pew Charitable Trusts, is building an application programming interface, or API—known as Spot—that can serve as a computerized issue spotter. Spot could be used by legal services websites and others to help lay users, and its functionality will improve as it accumulates more data and real-life examples.

 

What’s so bad about the billable hour? — from bloomberg.com by Arianne Cohen
John Chisholm says it leads to unethical behavior and runaway costs.

Excerpts:

What would force a change in the model?
The Big Four professional firms [Deloitte, PwC, Ernst & Young, and KPMG] have exponentially increased their legal services over the last few years. While those firms predominantly billed by the hour, their foray into other services such as consulting means they have experimented with other pricing models. One of the Big Four will change its pricing model before any global law firm, and all will follow.

How does someone at a firm start a conversation about billing for deliverables that actually mean something to clients?
Try saying, “Recording time is inaccurate and nontransparent, and no one values it. Our clients value projects completed on time, revenue, and new intellectual property.”

 

From DSC:
By not listening/taking action nearly enough through the last several decades, the backlash continues to build against colleges and universities — institutions of traditional higher education who didn’t take the rise in tuition seriously. Students graduated and left campus, and the invisible gorillas of debt being placed on students’ backs weren’t acknowledged — nor were they fought against — nearly enough. Instead, the gorillas just kept getting bigger and bigger. 

Year after year, I tried to fight this trend and raise awareness of it…only to see the majority of institutions of traditional higher education do absolutely nothing. Then, as the backlash started to build, the boards and the administrations across the country began priding themselves on how their percentage increases were amongst the smallest in the area/state/nation. They should have found ways to decrease their tuition, but they didn’t. Instead, they resorted to playing games with discounts while their “retail values” kept going up and up.

The time’s coming when they will pay the piper for having done this. Just like what happened to the oil companies and to the car/truck manufactures who made megabucks (for the time being) when their vehicles kept getting bigger and bigger and when the price of oil was high. What happened? The end result was that they shot themselves in the foot. These days, Tesla — with their electric cars — is now the most valuable car company in America.

Within the realm of education…when effective, cheaper alternatives come along that still get people hired, you better look out traditional institutions of higher education. You didn’t listen. It happened on your watch. And speaking of watches, the next major one could be you watching more of your institutions close while watching your students walk out the door to pursue other, far less expensive alternatives.


Follow up comments:
I realize this is a broad swath and isn’t true for several institutions who have been fighting the fight. For example, my current employer — the WMU-Cooley Law School is reducing their tuition by 21% this fall and other institutions have reduced their tuition as well or found ways to honor “Promise” types of programs. Other institutions have done the market research and are offering more relevant, up-to-date curricula. (Don’t worry those of you who work within the liberal arts, I still support and believe in you. But we didn’t do a good enough balancing act between offering liberal arts programs and developing the needed skillsets to help students pay off those ever-growing gorillas of debt.)

The fact was that too often, those invisible gorillas of debt went unnoticed by many within higher education. And it wasn’t just the boards, administrators, presidents, and provosts out there. In fact, the full-time, tenured faculty members taught what they wanted to teach and were furious at those who dared assert that higher education was a business. (Watch a college football game on the major networks last fall? Have you seen the size of research institutions’ intellectual property-based revenues? We could go on and on.) 

Anyway, what tenured faculty members offered didn’t align with what the market needed and was calling for. They offered what was in their best interests, not the students’ best interests.

 

How wary lawyers are embracing new tech — from lawgazette.co.uk by Sophia Purkis & Nadia Osborne

Excerpt (emphasis DSC):

There has been an eruption of innovation in legal technology – and the role of the lawyer is evolving in consequence. From law firms and corporate practices, to the operation of the court system and management of documentation, technology is changing what we do, how we do it and where we can do it from.

PwC’s annual law firm survey 2019 found that eight of the top 10 firms identified technology as the key change in growth in the next two to three years. In November 2019, the Law Society published a paper, Lawtech: a comparative analysis of legal technology in the UK and in other jurisdictions, recognising the need for domestic lawyers to stay informed and up to date to remain competitive.

Lawyers are instinctively risk-adverse but the successful ones recognise the inevitability of change and opportunities. The introduction of technology requires investment of finance, time and resource. However, the steady march of technology and client and staff demands mean we must embrace the use of legal technology. It is vital to enable legal professionals to collaborate flawlessly with colleagues and clients, and to keep up with other professions and businesses. We must, however, not forget to be mindful of each other and not lose the ability and opportunity to communicate with each other personally. Machines think in binary terms and sometimes things are not that simple.

 

 

Artificial Intelligence is transforming the legal industry — from law.comby Christian A. Farmakis
Artificial intelligence (AI) is adding efficiencies and transforming businesses everywhere, and legal practices are no exception.

Excerpts:

How is AI technology disrupting the legal industry?
AI legal technology won’t replace lawyers, but these tools will drastically change the way lawyers provide services for their clients. While estimates vary, 23%t to 35% of a lawyer’s job could be automated. As a result, lawyers will need to be more strategic and supervisorial, able to act as project managers and supervise the information being fed into systems, and knowledgeable about the assumptions underlying the machine learning algorithms.

What will be the next wave of AI legal technology?
The next generation, which is starting to hit the market now, will be document automation and legal research and writing tools, as well as predictive technology tools. For example, a contract can be put through an algorithm in order to identify how risky it is. It could be used to determine how likely it is to go into litigation or if it complies with the company’s internal contract procedures and policies.

Another use is analytic tools that can measure efficiency and pricing of the legal services. E-billing and practice management tools could measure whether a service contract should cost $2,500, not the $7,500 that’s being charged. In other instances, AI could help firms do estimates for alternative fee arrangements.

 

20 digital transformation leaders to follow on Twitter in 2020 — from enterprisersproject.com by David. F. Carr
Committed to digital transformation this year? Follow these people for perspective and emerging lessons

Excerpt:

One of our New Year’s resolutions was to refresh and expand our Twitter feed for digital transformation leaders, reviewing them not just for the use of the right hashtags but for the content they share.

There are a few repeats from a similar list we shared last year, but for the most part, we tried to give you new Twitter handles to follow. This year’s list includes CIOs, authors, consultants, and cloud computing leaders. Some only post on technology topics, while others share thoughts on family, culture, politics, and favorite movies.

The common denominator we looked for was a thoughtfully curated feed that’s not entirely self-promotional but adds to the conversation we’re all having about how to understand the potential of digital transformation and put it to work for our organizations.


From DSC:

While these types of lists invariably leave off a ton of extremely talented individuals and organizations who are worth following as well, such lists are a good starting point for:

  • Someone to use to begin tapping into streams of content in a given area
  • Observing the topics, issues, ideas being discussed
  • Building one’s network
  • Seeing who these folks follow and who they respect
  • …and more.

Searching for the top __ people of Twitter in subject XYZ is a solid way to enhance our [lifelong] learning ecosystems.

 

CES 2020: Finding reality in a deluge of utopia — from web-strategist.com by Jeremiah Owyang

Excerpts:

One of my strategies is to look past the products that were announced, and instead find the new technologies that will shed light on which products will emerge such as sensors and data types.

The trick to approaching CES: Look for what creates the data, then analyze how it will be used, therein lies the power/leverage/business model of the future.

Sharp’s augmented windows give us an interesting glimpse of what retail could look like if every window was a transparent screen…

Rivian, the new electric truck company, which is funded by both Ford and Amazon was featured at the Amazon booth, with a large crowd, each wheel has an independent motor and it’s Alexa integrated – watch out Cybertruck.

Caution: “Data leakage” (where your data ends up in places you didn’t expect) is frightening, and people will start to care. The amount of devices present, that offer data collection to unknown companies in unknown countries is truly astounding. Both from a personal, business, and national security perspective, consumers and businesses alike really don’t know the ramifications of all of this data sharing.

Also see:

 

Excerpt from Higher Education Predictions for 2020: Recession, Certificates, and Computer Science by Richard Garrett

Coding bootcamps, the educational innovation that arose over the past decade to tackle an acute supply-demand crunch in computer science, had a stellar year in 2019. Dismissed as a fad by some, in 2019, bootcamps graduated 23,000 people, up 49% in one year (37% on a same-school basis).


But short of an unprecedented surge in domestic master’s degrees awarded in 2019, that year will mark the turning point when bootcamps—dominated by U.S. students— unequivocally passed master’s degrees.

An intriguing question is: what impact does a university’s own bootcamp have on domestic enrollment in its computer science master’s program: complementary or competitive? That will have to wait for another Wake-Up Call.

 

How AI is disrupting the legal tech industry — from itproportal.com by Derek Chau
Law firms will benefit from a growing ability to deliver high-value, strategic services while leveraging the ability of AI to execute lower value tasks.

Excerpt:

As increasingly complex AI solutions emerge, the technology continues to capture imaginations across the legal community. AI has become a catalyst for change within the legal ecosystem. And as platforms become more sophisticated, companies have begun to tap into ever-expanding automation and scalability.

Potential impacts/applications include:

  • Legal research (due diligence)
  • Predicting legal outcomes
  • Contract management
  • Intellectual property law

This reality is driven by the democratisation of legal services as a result of AI integrations. The movement is poised to lower the costs associated with corporate transactions, legal research, IP transactions, and related services. As such, law firms will benefit from a growing ability to deliver high-value, strategic services while leveraging the ability of AI to execute lower value tasks.

 

‘Fundamental shift’ is transforming the delivery of legal services, new report concludes — from abajournal.com by Debra Cassens Weiss

Excerpt:

“Revolutionary changes are afoot” in the market for legal services, according to a new report.

Clients are actively managing their relationships with outside counsel, nonlaw competitors are gaining ground, and law firms are responding to market changes in innovative ways, the report says.

The 2020 Report on the State of the Legal Market was released Monday by Georgetown Law’s Center on Ethics and the Legal Profession and Thomson Reuters Legal Executive Institute. It is available for download here.

However, taking that view is seeing only one side of the story. Over this same period, there has been mounting evidence that the underlying model itself is changing, that clients, non-law firm competitors, and even many law firms are now operating with very different assumptions about the role law firm services should play in the legal ecosystem and how such services should be delivered. In the past year or so, this evidence has grown to the point that it seems apparent that a fundamental shift is now well underway.

Also see:

Lori Lorenzo, research and insights leader of chief legal officer program, Deloitte: “Catching-up and keeping-up with tech advancements for the legal function will remain a top goal for chief legal officers in 2020. Of course, addressing legal team tech skills gaps may drive inclusion of professionals with diverse skillsets, like data scientists, automation experts and the like, into the legal function.”

 

8 digital transformation trends for 2020 — from enterprisersproject.com by Stephanie Overby
Having some digital transformation fatigue on your team? You’re not alone: Here’s what else to watch for in the year ahead, digital leaders

Excerpts:

“2020 will still see the rapid scaling of digital initiatives across industries,” says Steve Hall, partner and president of global technology research and advisory firm ISG. “In many areas, CIOs and organizations have prepped their organizations for change but haven’t made the full leap to transforming their culture to fully embrace the change.”

Trends mentioned include:

  1. Digital operating models become mandatory
  2. More data, more problems
  3. AI takes center stage
  4. M&A shakes up IT services
  5. New digital transformation allies emerge
  6. Public cloud adoption expands
  7. New digital transformation metrics will emerge
  8. IT takes the long view on digital insights

 

 

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