We have finally had our 3rd and last DICE conference for this year. In spite of being only 2 hours long, “Get Digital” was full of interesting things. There were only 3 guests: Dr. Johnny Walker, David Erixon and Alistair Croll, who work in different fields but talked about the same thing: “digitality”.
Health is very important and I’m glad we had a guest from this field.
Health Founders had a humble but very good start in terms of “digitality”: the mobile stroke unit.
The unit resembles an ambulance on the outside, but inside it contains highly specialized staff, equipment and medications strictly used for diagnosing and treating strokes.
But that wasn’t enough. The traditional healthcare system needed to be redesigned and the only way to do that was by enabling technologies. This turned the doctor-centric hospitals into patient-centric.
Telemedicine: “the use of medical information exchanged from one site to another via electronic communications for the health and education of the patient or healthcare provider and for the purpose of improving patient care. Telemedicine includes consultative, diagnostic, and treatment services” (MedicineNet).
There are many benefits of telemedicine, such as lower medical costs, improved accessibility for rural patients, and favorable levels of care.
People no longer have to wait hours in line for consultations or prescriptions. They can now use their devices to relay their blood pressure, heart rate and other vital signs to their doctors. Thanks to the advanced technology, doctors are now able to communicate with patients via webcam, immediately consult a digital network of disease professionals, and issue prescriptions over email.
Dr. Johnny Walker is also the founder of Jinga Life.
“The Jinga Life platform is a personal Electronic Health Record (EHR) for each member of the family, maintained and managed by the true curator of care within a family, the Jinga!”
In fact, his very first 5 patients were African women, all pregnant and diabetic.
He has also talked about how everyone is so terrified of data, big data!
“The amount of data is growing 40x faster than the world’s popularion!”
I can see why.
But the key is to know how to identify the right data, protect it and manage it.
And, once again, I’m amazed by how close the future we used to imagine is!! Actually, no. The future is now.
We already have: VR, e-stethoscope, digital thermometer, digital blood pressure monitoring, gesturing, 3D printing, the CyberKnife, and finally, robots.
“The future of money”
I think we all know what to expect from the future in terms of money and banking. We already started using digital money more than physical money and banks replacing people with machines.
I have an acquaintance who works in a bank and I hear her talking everytime about how many people will still leave and these changes are happening right now.
However, David said they want to show people that there are more and new ways of doing things, not change the banking system.
To be honest, as a millennial, online banking is more convenient for me.
Digitalization for banks is really important. Banks have had a dominant position in the banking and payment industries for a long time, but their position is at risk now, as new opportunities for new banks and non-bank organizations is at hand. Technology drives change and I think every business and organization must react and adapt to these changes as quickly as possible.
In fact, he gave us an example of an app called 22seven, that helps you “manage your money more easily and invest it more smartly”, which is similar to what banks would do.
Technology transforms both the society and the economy.
The main exponential technologies to which companies have to adapt now are: interconnectivity (mobile technology), the Internet of things (Big Data) and automation (artificial intelligence).
Taking into account that the current and future labour force and consumers are the two new generations of digital natives, the millennials and the centennials, who use technology on a regular basis, much more than the older generations, it is crucial to provide digitalized services demanded by them. Not only in banking, but in all sectors.
“If we don’t do it, someone else will.”
I think almost all the guests, from all three conferences, have mentioned this. It is very important to come up with something unique and innovative, since the development of the technology will never rest.
③ Alistair Croll, author of “Lean Analytics” and Public Speaker with 20 years’ experience
His speech was very complex. He talked about a large range of things, from agriculture to inventions.
His main topic was innovation, ‘how we innovate and change society through innovations’.
One good question: ‘How did we not see this (Internet, smartphone, etc.) coming?’. Come to think about it, most of the people couldn’t imagine a cellphone could become this ‘smart’. It’s crazy. Smartphones can do so many things, it’s actually a bit scary, but this is just normal. I still can’t imagine what future has prepared for us, but all I could do is trying to adapt to it.
According to Alistair, “technology is not interesting, discontinuities are”. This made me reflect on how we used to do things and how we do them now.
“Discontinuous innovations cause a paradigm shift in science or technology and/or the market structure of an industry. As they are entirely new-to-the world products, made to perform a function for which no product has previously existed, discontinuous innovation requires a good deal of learning for the incumbent organisation and its value network, including the user.” (lexicon.ft).
For example, technology has changed the way we communicate. While in the past we used face-to-face communication and handwritten correspondence, now we use Internet (social media, email, video calls, etc.) and cellphones.
Another example would be the way we learn. We have access to lots of resources, available at any time, such as online books, videos, and so on. However, real books are still the best source of information, in my opinion.
Technology has basically changed everything, from the way we live to the way we work.
I have times when I love technology and times when I hate it. But overall, I think technology is great and has done many good things to society. All the inventions have a good purpose, that of making our lives better.
Since we live in the digital era, digitization is critical for businesses, as technology opens more and more doors for potential entrepreneurs who just need an innovative idea to start up a business. The traditional way of doing business is now outdated and you need to keep up with every little innovation if you want not only to be in top, but also to remain in business.
Cleveland Clinic, (2014). Mobile Stroke Unit. [online] Available at: https://my.clevelandclinic.org/health/articles/mobile-stroke-unit [Accessed 21 April 2017].
Wharton International Business Review, (2016). Telemedicine: The Future of Healthcare? By Jonathan Silverman W’19. Available at: http://www.whartonibr.com/blog/2017/2/20/telemedicine-the-future-of-healthcare-by-jonathan-silverman-w19 [Accessed 21 April 2017].
Walker, J. (2017). The Future: Connected Health IC4 DCU 11.4.2017. [online] Prezi. Available at: https://prezi.com/pelf6-6pqkvf/the-future-connected-health-ic4-dcu-1142017/?utm_campaign=share&utm_medium=copy [Accessed 21 April 2017].
ACI Worldwide. (2016). THE FUTURE OF BANKING IN A DIGITALIZED WORLD. [pdf] Available at: https://www.aciworldwide.com/-/media/files/collateral/trends/the-future-of-banking-in-digitalized-world-tl-us.pdf [Accessed 21 April 2017].
González-Páramo, J.M. (2017). Digitalisation and Banking Sector. [pdf] Helsinki: BBVA. Available at: https://www.suomenpankki.fi/globalassets/fi/media-ja-julkaisut/uutiset/documents/201701_sr_gonzalez-paramo-digitalisation_and_banking_sector.pdf [Accessed 21 April 2017].