Page 19 - AeM_June_2018
P. 19

BEST PRACTICES & STRATEGIES




       mathematical problems on the fly will sit snugly in your   The way to stay alive
       back pocket as a function of the average smartphone.
                                                            The solution is to predict the unpredictable and remain
       The point: Engineering is potentially a profession eating   one step ahead of the game. Disruption cannot be seen
       itself  alive‒  disrupted  by  the  technology  it  originally   as the enemy. It must become the enabler‒ and those
       created. (After all, it was an engineer who designed that   who  manage  to  exploit  its  transformative  power  will
       3D  printing  kit,  that  drone  and  that  software  program   outlast the change. If you want to survive, you need to
       Revit.) We are moving from a world where the engineer   bring  digital  and  computational  technologies  into  your
       ‘makes  the  thing’  to  a  new  world  where  the  ‘engineer   own  discipline  to  see  how  you  can  possibly  disrupt
       makes the thing that designs the thing that the engineer   yourself  before  someone  else  does  it  for  you.
       used to design.’
                                                            This means you’ll have to see the agility gaps between
       The grim but awesome reality                         you  and  your  competitors,  as  well  as  the  corporate
                                                            inertia  within  your  own  operations.  A  McKinsey
       But  engineering  is  not  only  cannibalizing  itself;  it’s   study among 1 600 firms found that those firms, able to
       metamorphosing  the  status  quo  of  most  other    look  change  in  the  eye  and  reallocate  their  capital
       professions as well. IBM Watson is fast learning how to   accordingly, had substantially higher growth rates and
       accumulate  and  interpret  complicated  cancer-related   shareholder returns than those who spent their money
       medical  diagnostics  with  far  greater  accuracy  than   practically  the  exact  same  way  over  15  years.
       oncologists. The expectation is in time, not only will the
       Jeopardy champ do it better than the doctor; it will save   You  have  to  forge  new  value  by  quantifying  your
       some national healthcare system millions in trial-based   intellectual capital. Considering that half of the world’s
       expenses.                                            most  valuable  organizations  are  idea-intensive,
                                                            leveraging the power of data, algorithms and software,
       The  legal  profession  is  replacing  flesh-and-blood   you’ll have to make information a prime asset of  your
       attorneys  with artificial  intelligence  and finding that the   business. Companies like Apple and Google, McKinsey
       machines  can  save  money  and  spare  the  drudgery.   notes,  have  done  this  by  creating  underworlds  of  app
       Where the idea of ‘burning the midnight oil’ has always   developers and Android innovators. The more creativity
       been associated with over-caffeinated lawyers ‒ pouring   that comes out of these spaces; the stronger the bonds
       over documents, drafting contracts and digging for legal   of loyalty that users and developers feel to the brand.
       dirt ‒ the new legwork could be done by sophisticated
       algorithms that offer flawless insight in a fraction of the   You’re  going  to  have  to  go  hard  after  talent  since
       time… and never need the coffee.
                                                            competition is fierce and job loyalty is no longer in style.
                                                            That means  you’ll need the right kind  of workplace to
       Of course, soon no career will be immune to disruption.
       Human  mechanics  will  be  hanging  up  their  tools,   attract  and  retain  the  people  you’re  looking  for.  HR
       teachers  will  face  replacement,  and  even  hamburger   operations  must  rethink  its  organizational  structures
       flippers threaten to be automated.                   and  offer  more  flexibility  and  mobility,  ensuring  an
                                                            environment that invites collaboration, creativity and the
       However,  will  engineering  be  the  ultimate  Survivor   best in divergent thinking.
       profession that outwits, outplays and outlasts all others?
                                                            Today’s world is complex and cut-throat and worthy of
       Traditionally,  the pecking order of professions, at least   constructive panic. All of us are gunning for the prize,
       in the developed world, saw doctors at the top, followed   but it will take tremendous effort and strategy to win it.
       by lawyers, accountants, engineers and arts professions   Ironically,  organizations  that  choose  to  play  it  safe  at
       at  the  bottom. We  are  now  seeing  a  possible  reversal   base  camp  are  risking  the  most;  anything  short  of
       with  demand  for  those  creatives  moving  to  the  top  as   fearless  front-footed  action  is  too  little  too  late.  At  the
       industries are forced to think differently about solutions.   end of the day, those who learn to stay alive and ‘beat’
                                                            disruption will be those who’ve learned to join it. ◊
       There  is  significant  potential  to  reap  from  a  disrupted
       market  with  brand  new  value  equations.  The  question   By Alecs Chong,
       is, which of these professions, engineering included, will   Associate at Aurecon
       act on it?




       This post originally appeared on Aurecon’s Just Imagine blog.

                                                 MediaBUZZ Pte Ltd - Independant ePublisher for Asia
   14   15   16   17   18   19   20   21   22   23   24