Tag: future

A New Retail Dynamic

Posted on by Steve Sammartino

Whenever we go on the internet to check out how much something costs, we expect that it could change by the day, the hour or even the minute. Heck, it feels like they put the price up if we dare to look at something twice – especially that flight for a weekend getaway.

We’ve been trained in digital forums to know that prices are in a constant state of flux – dynamic. They vary based on demand (which is now trackable) to maximise the sellers’ profitability. Everything on the internet just moves that bit faster – the programmable nature of the forum creates a naturally turbulent environment we have to navigate, especially when it comes to commerce. While it can be frustrating and annoying, it also creates a sense of anticipation. It makes us act quickly, and come back frequently to see what else might seduce us. We have to make sure we’re not missing out, or that we paid too much.

While prices in the physical world do change, they’ve never been as malleable as they are on the web. Sure, grocery prices to change every week, car yards to have offers every month, and most retailers have sales. But no traditional retailer changes price by the minute, or even by the hour. Maybe it’s time they started.

It’s worth remembering the constraints retail had in a pre-internet world. Changing the prices in a grocery store required weeks of planning, long paper trails, the changing of pricing tickets on shelves, and the printing of physical retail catalogues. Most retailers had similar constraints when it comes to changing prices in stores. It turns out the low frequency of price changes in stores was in reality, a technology limitation. While local retailers could slash the price on a slow selling item with a sharpie, or a fresh fruit retailer could discount a pineapple before it rotted, larger retailers with many stores had a much tougher time changing prices.

But now that many stores have digital pricing displays on shelves, why haven’t they leveraged the possibility for totally dynamic pricing on the shelf? Answer: Legacy Thinking.

The only constraint that now exists is in their minds.

Crazy idea for free

Imagine if retail stores had prices that changed constantly, maybe even by the second. The moment I mention it to people, they think I’m crazy and that this would be ‘unfair’ to consumers. They says it’s something a store just couldn’t do. How could a store just change its prices every other moment? Answer: The exact same way the internet does. How cool would it be to reduce a price dynamically in front of a consumer to entice a purchase as they walk past an item they picked up and put down again – to send out a post on social media on a quiet day and announce a half price sale for just the next 30 mins? Or to announce at a random time on a Saturday the store will have a radical price reduction. Maybe an unexpectedly busy time would require the prices to go up to thin out the crowd in a too busy fast food restaurant?

Sure, there’s massive flaws in this idea, there’d be winners and losers, people complaining and people gaming it to their advantage. But surely it would generate traffic, attention and conversation that harkens a market bazaar of yesteryear where literally anything could happen.

Maybe it’s this kind of crazy that retail needs.

The unexplainable gig

Posted on by Steve Sammartino

Today I was in a little talk circle among a few friends at the PauseFest event. We all made some introductions to each other and then proceeded to discuss what we did for a living. Then something weird happened. None of us had simple answers.

It turns out all of us are ‘projecteers‘. We do a number of small projects and tasks for a variety of customers. We create, think, write, speak, consult, write code and build strategy for people and companies who need it. The cool thing is that none of us could explain it because: all of us have so much variety in what we do. Of course, those who need to know get it. While this is a small audience, it’s also the only audience that matters.

It got me thinking about how much of an advantage it is that we can’t explain our ‘jobs’. You see, the more difficult it is to explain what you do to a person, the more difficult it will be to explain it to a Robot or an Artificial Intelligence that might replace us. The biggest advantage any of us can have in the future will become to have a gig, career, or job which is difficult to explain.

So here’s the next question it presents: How do we increase the complexity of what we do to make ourselves unexplainable? My answer is simple – make sure what you do involves the most complex thing the universe has ever created – humans. The more interactions with people and projects our gigs involve, the more complex it becomes. Breadth of interaction is the insurance policy of the future.

And if your gig is streamlined and simple, it might just be time to start adding some complexity and variety.

The shape of the future

Posted on by Steve Sammartino

Reviewing visuals from the first ever television programme is interesting. You’ll notice that they were basically radio shows, which happened to be filmed. A couple of people. In a room. With a camera. A few years earlier, they would have been in the exact same setting, doing audio recordings. Early TV was essentially still an audio programme with pictures. It took them (the television producers) many years to realise that things didn’t have to be the same shape.

Even when they started to create on-screen interactions, such as the Late Night talk show format, it was essentially live theatre for the TV – props and segments being interacted with on a small stage. It seems that we so often have an incremental mindset of how new technology can substitute whatever came before it. It’s not isolated to TV either. Our cars are still horse carriages with a motor. Our houses are caves with electricity. Laptops are typewriters with screens where the paper used to be.

It seems that only once we realise the new technology can be a different shape that really innovative things can happen. The smart phone changed so much because it removed buttons and built in a screen on a very flat device. Videos, app stores, mapping…. sure, the technological had to catch up, but the new shape had a massive impact.

Right now there’s lots of opportunities to change the shape of things:

  • How could supermarkets look now that we have self-checkout, and will soon have no checkout? How should the selves and aisles be arranged?
  • What will department stores look like when we try on clothing virtually and fit out our homes with furniture we buy from home using augmented reality?
  • How should car parks look given that many won’t even have drivers? Will they need pick up & drop off bays for goods and people, as well as charging stations in every bay?
  • Will commercial car parks be empty during the day and full during the night? How can we utilise that space? What about car-stopping spaces in cities?
  • Do cars need to have front facing seats or can they look more like rolling lounge rooms or rolling offices now we can take our eyes off the road?
  • Will houses need drone delivery pads for ecommerce and drone landing pads for our personal flying machines?
  • What will kitchens look like when automated vertical gardens in offices and houses are common?

This is a micro-sample of some of the changes we know are coming. They’ll be more we can’t even imagine yet. It just might be that the biggest opportunity of the future isn’t inventing the technology itself, but reshaping our physical spaces to accommodate it.

The weird world of people as brands

Posted on by Steve Sammartino

The new year often brings career considerations. How will we position ourselves to take the next step? These days, this involves the nuanced world of personal branding. And while it makes many of us feel squeamish to think of ourselves as a brand, it’s not a new phenomenon.

Before industrialisation, we were what we did. Just quickly scroll through the contacts list on your phone and there’s a chance you’ll see a few of the OG personal brands. Surnames like Smith, Carpenter, Taylor, Baker…  If you think personal branding has gone too far, then don’t forget our brands used to come with us everywhere, and not just appear on our LinkedIn page. Washing powder and electronics aren’t the only brands, people are too, and have been for a very long time.

But then, once we industrialised much of our branding, as economic participants at least, was derived from where we studied and the corporations we worked for. ‘She went to Harvard.’ ‘He worked directly under Henry Ford.’ We built ourselves around the institutions we spent time in. The evidence of who we were and what we were capable of was a function of where we spent time. It was their brands that we had to leverage as we became cogs in their machines. The era of being known for our output got lost, and this was for one simple reason – most of us became part of something much bigger than ourselves. For most of us, there was no longer a table we could imprint our name on, or suit with our name in the jacket pocket. Our work became shared, we only made a slither of the final output – we got lost in the system. As people, we essentially morphed into sub-brands of large corporations. It was then that the great brand reversal started to happen, as mass media infiltrated our homes.

Once upon a time, things were once just things – bread, washing powder, suits, you name it. But in order to build trust, corporations who now made what we used to make, used the branding process to personify what they were selling. In a way, things replaced people as brands. Companies had to make things seem reliable like people, because, who the hell knew who made what? The bread didn’t come from Billy’s bakery – who we knew and trusted – it came from a big factory somewhere.

The tool used to personify the products and build brands during the 20th century was mass media. The factory and the TV were the perfect partners. Big budgets and big scale were both mandatory. Together they combined to make us believe that very average things were worth more than they actually were. Much of the value, credibility and the premium price we paid was a function of the advertising. What we were consuming was ostensibly a parasocial relationship. It was a closed shop for the big and privileged – until now.

For the first time in history, people can now brand themselves at scale. The emergence of fragmented, low-cost and highly distributed media on the web means anyone can play. Anyone can build their brand, and then charge a premium for their services. Just like brand XYZ became known as a premium brand, so can we. The more well-known someone is in their industry, the more they will earn – it’s just a modern inalienable truth. I know it feels like a very uncomfortable transition, especially when the world of personal brands is filled with hucksters, and camouflaged Amway sales people on Instagram trying to sell you milkshake weight loss powders by showing their photoshopped abs. Yes, there’s lots of dodgy players out there, using the new cheap tools and make a quick buck – but isn’t there always?

What we might consider instead, is to build something respected and sustainable based on real work and insight. How do we display, using the tools available, our capability? How do we become more than our formal qualifications and experience by sharing new ideas, projects, industry transitions and connection? How do we share things of value with others and then let the law of reciprocity set in?

In simple terms, we just need to decide what we want to be known for – and take that to the market. For me it’s being the guy who understand technology’s impact on business and society – and helping people navigate the future. I study this stuff all day long, so my customers don’t have to. They can focus on their industry and plug in my skills when required.

But in a busy world, where everyone is the CEO of their own personal media corporation, it’s hard to be heard, where everyone has something to say. It might even mean we need to invest in ourselves, and actually pay to build our personal brands. Yes, advertise ourselves, just like the hero brands of the TV Industrial Complex did back in the day. It’s never been more affordable to take control of our own futures, perceptions and capabilities. If it’s good enough for corporations products, then why not people?

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Thanks for reading this year. Have a great 2019. Steve. 

We’re the ghost in the machine

Posted on by Steve Sammartino

Worried about being taken over by robots? Here’s another thought: We are becoming robots. We’re merging with machines.

I know this sounds scary, but the patterns of technology tell a story of what’s next. The future is so often written in the past. If you consider the evolution of computers, we can remember machines once as big as a room have now become a small piece of glass that slides into our pockets, which is also a billion times more powerful. Pods go into our ears, wires come out of our pockets and some crazy people are getting chips inserted under their skin too. Think of computers like this:

We used to go to the technology to use it – in big Government and military institutions.

Then the technology turned up on our work desks.

Eventually it appeared in our homes.

Later, it got small enough to carry in bag.

Suddenly, it can slide into everyone’s pockets

and now we wear it, insert it under our skin and it never leaves our side.

Our world is changing so quickly that we have collectively discovered a way to evolve outside of our bodies with technology to cope with the world, until we of course figure out a way for the technology to enter our bodies. Which will turn us into cyborgs.

Every day we already see humans augment their senses (smart phones, smart glasses, wearables, watches and earpods) all enhancing our cognitive ability. Simultaneously technology is being developed to create ‘fake bodies’ we can wear in the form of exoskeletons so we’ll be able to run faster, be stronger, work harder, move for longer periods or play totally different and weird sports we can’t even imagine yet. The trend isn’t us versus the robots – it’s us evolving into them.

I’m the first to say that I’d never get a chip installed for pure convenience reasons, All that to just open a door to log into a computer, no thanks. But If I could gain all of the utility of a smart phone, by having upgradable technology permanently plugged into my brain so I can think and react in real time like a super human – then sign me up. I’d much rather that than competing with AIs as an organic human to try and survive on this revolving orb.

This is already happening. The technology is getting smaller and smaller, and metaphorically attaching itself to our bodies – and so it is inevitable that it will enter our bodies. We’ll also eventually figure out how to breed progeny with the upgrades to humanoid already installed from our parents – let’s call it DDNA (Digital DNA). Information technology will merge with biotechnology and it will operate on the nanoscale. So if technology is getting under your skin… well, you haven’t seen anything yet.

It does raise some serious concerns – change always does – but this will most significant in our history. It could well end up as a split in our species, akin to the chimpanzees who chose to leave the trees and cross the savanna. We may well end up with a two-breed reality of Neo-Humans and Sapien-Luddites. And just like every revolution – those with all the advantages will be those with access to greater financial resources so they can ‘upgrade themselves’.

In the short term, the thing I worry about most is coming much sooner than this. For the first time in history – humans will become a hackable animal. Already large technology firms can know where we are, where we are going, where we’ve been, what we think, what we want, what we value, whom we support, who we care about, how we feel and all manner of activities and emotions. And this isn’t just click through patterns. It’s now also achieved by observing our unique biometric outputs such as facial expressions, and heart rhythms. Now that large technology corporations and Governments have infinite processing power, data and biometric measurement, they can predict and even manipulate human choices on a level much deeper than ever before possible. Now imagine the possibilities with external algorithms and computational power running through our bodies.

Eventually these biotech algorithms will understand us, better than we do. If we are accessed somehow by a bad actor with nefarious intentions, it’s not a stretch to imagine a person acting against their own will – or even worse, for them to believe it was their own personal intention. While this might sound alarmist, let me bring this back to a human level. Always remember that we are the ghost in the machine. The machines will always be a manifestation of us. We design them, we build them, we hack them and so they fully reflect the good and bad of the human condition. And if we don’t want to be hacked in our cyborg era of living, then it’s best we put in collective effort now to stop those manipulating us through a simple screen.

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Thanks for reading & stay rad, Steve. 

What to teach your kids (& yourself) – My TED talk

Posted on by Steve Sammartino

The most common question I’m asked in my work is this: “What do you teach your kids?  How do you prepare them for an unknown future?” It really is the question. It’s also the topic of a TED talk I did this year in Melbourne.

In the talk I tell the story of how society shapes children, and systematically removes their entrepreneurial spirit – something all humans are born with.

In a world where our future is super unknown – there are some things we do know: We’ll need to be economically independent, manage our own careers, constantly upgrade our skills and embrace inevitable technologies like robotics. You will need to Outgrow Your Job – the title of the talk.

Rather than writing about it – please invest the time to watch it here. It’s a 14 minute video which will change how you see the world. And it might give some cool ideas on how to make your kids future proof.

Oh, and remember to share it with someone whose future you care about!

thanks, Steve. 

Our careers as projecteers

Posted on by Steve Sammartino

The riskiest career choice of the future will be to have a single job. When we have a job, we not only have 100% of our cashflow linked to a single customer (employer), we see less of the changing world. For the best part of 200 years – craftspeople, artisans and farmers couldn’t compete against the industrialisation of pretty much anything. But we live in the generation, where all this is about to change. The best careers will become those of projecteers.

While no one really knows the exact technical skills we will need in the future, we do know that the world will be a very different place 10, 20 and 50 years from now. It might even be that for the first time in history we can’t specifically tell our children – that qualification XYZ, will hold them in good stead. The one thing that they, and we, will need for sure, is the ability to reinvent ourselves repeatedly through our working lives. This means that human based skills like emotional intelligence, anti-fragility, and adaptability will become increasingly important.

If we think about work, we have historically tied ourselves to titles. Often, the first question we get asked at a social gathering is what we do for a living. We psychologically link ourselves to that ‘thing’ we do to make money – and in some ways this makes it difficult for us to change direction. If traditionally we have built our economic identities like stone houses with very deep foundations, going forward it will make more sense to build economic identities like tents, that we can fold, pick up and move elsewhere. Even though we don’t know exactly where we will have to move, we know shifting constantly will be inevitable.

Then – Why has this person moved around so much? Are they unstable or incompetent?

Now – Why has this person been in the one place so long? Are they scared or incompetent?

By taking the ‘tent‘ approach, every move creates a new knowledge set. A new set of experiences created by the new environment itself. We’ll see new things and develop new ways to ‘set up the tent’. The mobility, invents the skill set. As a projecteer this is exactly what I do. Economically I change places almost everyday… it’s a weird and wonderful mix of different, yet related experiences. A keynote speech here, a c-suite strategy session there, a media interview the day after, startup mentoring and investing, a new book next year, and a hacker project or two on the side. Yet, I still maintain the single minded proposition of what I do: Experiment with emerging technology in business.

The breadth and variety of work we’ll do in the future, will be the thing that makes us more valuable to those who seek our services. The skill corporations, governments and communities will need in the future is flexibility of mind – not process efficiency.

If we’ve ever viewed our life as a movie we star in – then we all need to start thinking a lot more like big movie stars. People who will be in far more than a single blockbuster – but a large number of movies, some on the big screen, and some indy side projects. We’ll play a variety of different roles, in different movies, but each set we walk onto, we’ll bring with us what we learned on the previous gig.

If you liked this post – you’ll dig my latest book