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Marco Annunziata: Welcome to the age of the industrial internet
Everyone’s talking about the “Internet of Things,” but what exactly does that mean for our future? In this thoughtful talk, economist Marco Annunziata looks at how technology is transforming the industrial sector, creating machines that can see, feel, sense and react — so they can be operated far more efficiently. Think: airplane parts that send an alert when they need to be serviced, or wind turbines that communicate with one another to generate more electricity. It’s a future with exciting implications for us all.
The Chief Economist at General Electric, Marco Annunziata is a financial virtuoso with a passion for technology.
WHY YOU SHOULD LISTEN TO HIM?
Marco Annunziata is the Chief Economist of General Electric, responsible for the global economic analysis that guides GE’s business strategy. A member of the European Central Bank’s Shadow Council and of the European Council of Economists, Annunziata has been featured on Bloomberg, CNBC, and in The Financial Times and The Wall Street Journal.
Annunziata arrived at GE in 2011 with a long track record in the financial sector, previously working at Unicredit, Deutsche Bank and the International Monetary Fund, where he researched emerging markets and the Eurozone. Annunziata confesses that he is “childishly proud” of his first book, The Economics of the Financial Crisis (Palgrave MacMillan, 2011). The book traces the global fiscal crisis back to a failure of common sense, in which so many of us played a part, and offers guidance for learning the right lessons from the outcomes.
“Machines increasingly communicate among themselves and with people. Mobile devices allow round-the-clock interconnectivity. Computers crunch terabytes of data. Such innovations have convinced economists from GE’s Marco Annunziata to Erik Brynjolfsson of MIT that the stage is set for a wave of productivity gains to rival the 10-year Internet boom that began in 1995.” Bloomberg
How to change your future: Jeremy Hunter
Jeremy Hunter describes how we can change the future by focusing on attention and Mindfulness. Jeremy Hunter, Ph.D. is the great-grandson of a sumo wrestler as well as an Assistant Professor of Practice at the Peter F. Drucker School of Management.
Abha Dawesar: Life in the “digital now”
One year ago, Abha Dawesar was living in blacked-out Manhattan post-Sandy, scrounging for power to connect. As a novelist, she was struck by this metaphor: Have our lives now become fixated on the drive to digitally connect, while we miss out on what’s real?
Abha Dawesar writes to make sense of the world — herself included
WHY YOU SHOULD LISTEN TO HER?
Abha Dawesar began her writing career as an attempt to understand herself — at age 7. It’s a goal that remains at the center of her work: Sensorium, her most recent novel,explores the nature of time, self, and uncertainty, using Hindu mythology and modern science as prisms. “At a very basic level, writing was always my way of apprehending the world,” she has said.
Dawesar moved from India to the United States to study at Harvard, and Delhi appears at the center of her novels Family Values and Babyji. But the oversimplified genres of immigrant fiction or ethnic fiction do not appeal to her. “Those looking for a constant South Asian theme or Diaspora theme or immigrant theme will just be disappointed in the long run from my work,” she has said. “The only label I can put up with is that of a writer. And my ideas come from everywhere.”
On the evening of February 12, 2009, a Continental Connection commuter flight made its way through blustery weather between Newark, New Jersey, and Buffalo, New York. As is typical of commercial flights today, the pilots didn’t have all that much to do during the hour-long trip. The captain, Marvin Renslow, manned the controls briefly during takeoff, guiding the Bombardier Q400 turboprop into the air, then switched on the autopilot and let the software do the flying. He and his co-pilot, Rebecca Shaw, chatted—about their families, their careers, the personalities of air-traffic controllers—as the plane cruised uneventfully along its northwesterly route at 16,000 feet. The Q400 was well into its approach to the Buffalo airport, its landing gear down, its wing flaps out, when the pilot’s control yoke began to shudder noisily, a signal that the plane was losing lift and risked going into an aerodynamic stall. The autopilot disconnected, and the captain took over the controls. He reacted quickly, but he did precisely the wrong thing: he jerked back on the yoke, lifting the plane’s nose and reducing its airspeed, instead of pushing the yoke forward to gain velocity. Rather than preventing a stall, Renslow’s action caused one. The plane spun out of control, then plummeted. “We’re down,” the captain said, just before the Q400 slammed into a house in a Buffalo suburb.
The crash, which killed all 49 people on board as well as one person on the ground, should never have happened. A National Transportation Safety Board investigation concluded that the cause of the accident was pilot error. The captain’s response to the stall warning, the investigators reported, “should have been automatic, but his improper flight control inputs were inconsistent with his training” and instead revealed “startle and confusion.” An executive from the company that operated the flight, the regional carrier Colgan Air, admitted that the pilots seemed to lack “situational awareness” as the emergency unfolded.
The Buffalo crash was not an isolated incident. An eerily similar disaster, with far more casualties, occurred a few months later. On the night of May 31, an Air France Airbus A330 took off from Rio de Janeiro, bound for Paris. The jumbo jet ran into a storm over the Atlantic about three hours after takeoff. Its air-speed sensors, coated with ice, began giving faulty readings, causing the autopilot to disengage. Bewildered, the pilot flying the plane, Pierre-Cédric Bonin, yanked back on the stick. The plane rose and a stall warning sounded, but he continued to pull back heedlessly. As the plane climbed sharply, it lost velocity. The airspeed sensors began working again, providing the crew with accurate numbers. Yet Bonin continued to slow the plane. The jet stalled and began to fall. If he had simply let go of the control, the A330 would likely have righted itself. But he didn’t. The plane dropped 35,000 feet in three minutes before hitting the ocean. All 228 passengers and crew members died.
Read more. [Image: Kyle Bean]
Pills that improve morality: Julian Savulescu
Julian Savulescu is an australian philosopher and bioethicist. He is Uehiro Professor of Practical Ethics at the University of Oxford, Fellow of St Cross College, Oxford, Director of the Oxford Uehiro Centre for Practical Ethics, Sir Louis Matheson Distinguished Visiting Professor at Monash University, and Head of the Melbourne–Oxford Stem Cell Collaboration, which is devoted to examining the ethical implications ofcloning and embryonic stem cell research.
In his talk, Julian shows us that technology advanced rapidly but morality did not. Ethics and religions do not have the answers to the questions nowadays, also because the world – thanks to technology – is a completely different one than it was when moral rules were defined and written down. These rules need to be enhanced.
3 Dimensions of Innovation: James Wallbank
In the late 90′s James imagined an alternative model of lifelong digital engagement that would be free and open to all, and would develop a wide range of skills and abilities at a minimal cost. A key seemed to be mobilising the wasted resources he saw around him – prematurely obsolete technology, trashed materials, empty buildings, and the wasted time of people who couldn’t find work.
The do-it-yourself media lab that emerged from that vision, Access Space, opened in 2000 and is still running today. It combines recycled computers, free software and the collective intelligence of a peer learning community to build a powerful platform for developing skills and enterprise. Access Space develops confidence, capability, creativity and connections, and seeks to spread its holistic approach.
Currently the organisation is researching the individual, enterprise and community development potential of advanced manufacturing technologies. James contends that access to technology and technological skills, are necessary, but insufficient, for individuals, enterprises or communities to thrive; other very different capabilities are also needed.
Confessions of a Futurist: Sheryl Connelly
Sheryl Connelly is manager of global trends and futuring for Ford Motor Company, tracking shifts and trends in topics as far reaching as the environment, politics and millennials and analyzing those shifts to predict consumer preferences. Her insights inform the company’s automotive design, product development and corporate strategy and help anticipate the needs and desires of car buyers. Sheryl, a licensed attorney with an M.B.A. and a bachelor’s degree in finance, also teaches design research at the Center for Creative Studies in Detroit, MI. She has guest lectured at Massachusetts Institute for Technology, University of Michigan, and Wharton School of Business. She has also been featured in Forbes, the Wall Street Journal, Reuters, Financial Times and on the BBC.