Original 2021 statement: Car companies don’t know how to innovate at the speed of Silicon Valley. This is a BIG problem - for them
What Jim has written about this
From “Major 10 year trend - The future of EVERY industry to now be controlled by Silicon Valley driven innovation!” (November 2011)
Name any industry - auto, health care, manufacturing, energy, banking — and the big trend over the next five years is that Silicon Valley is coming to control the pace of innovation in the industry. And it’s speeding it up!
And so I outlined that reality: the next big areas of growth will come from the transformative change that occurs as Silicon Valley comes to drive the pace of innovation in almost every other industry . As it does so, it will speed up the rate of innovation.
The future belongs, in other words, to those who are fast. Tech companies and tech based innovators certainly understand this! And the key issue is speed : Apple, for example, could innovate much faster with new credit card financial systems than any bank could. Google and it’s tests of automatic car navigation technology will certainly evolve faster than any auto company in Detroit, Japan or Germany could. Unless leaders in those organizations increasingly learn to focus on speed as a metric, and fast-innovation as a core capability.
From “Video: Hyper connectivity and the Impact of the Internet of Things” (May 2016)
The big issue with the iOT is that it shifts the speed of innovation in every single industry to the velocity of Silicon Valley . This means faster change, disruptive business models, the emergence of new competitors, the arrival of fascinating new technologies that provide both opportunity and challenge.
Silicon Valley Innovation Velocity to Dominate Every Industry
Major 10 Year Trend: The Future of EVERY Industry to Now Be Controlled by Silicon Valley
From “Daily Inspiration: “Control of the speed of innovation in every single industry is now being set by Silicon Valley!”” (May 2021)
“Control of the speed of innovation in every single industry is now being set by Silicon Valley!” - Futurist Jim Carroll
And the fact is, most car companies can’t keep up as the speed of change shifts to the speed of Moore’s law and Silicon Valley. That was the main theme of my keynote this week in 2017 for the CUDirect Automotive Lending conference in Las Vegas. This event took a look at the future of automotive lending with a particular emphasis within the credit union sector, which is the line of business that CUDirect is focused on.
The technology in The Jetsons is just another reminder that credit unions need to innovate and not only develop new products, but also transform to keep up with the speed of change, Carroll says.
Read the full pieces on jimcarroll.com:
Major 10 year trend - The future of EVERY industry to now be controlled by Silicon Valley driven innovation!
Video: Hyper connectivity and the Impact of the Internet of Things
Daily Inspiration: “Control of the speed of innovation in every single industry is now being set by Silicon Valley!”