The innovation space can sometimes feel like a blink-and-you’ll-miss-it environment. The important thing is to keep an eye on what’s happening out there, and relate the underlying thinking to your business.

Here are some quick examples that demonstrate just how quickly the world is changing.

 

Fashion’s Holy Grail?

Take, for example, Nike and Instagram. This unlikely pairing is launching an assault on the Millennial market in a way never seen before.

 

 

Bloomberg Businessweek is reporting that a new shopping platform is being developed between the two companies. With almost 700 million active users of Instagram and Nike’s position as a sport AND lifestyle brand, it’s the perfect fit.

Speaking of ‘fit’, knowing your shoe size means there is a very low risk of ordering the wrong product. This streamlines the supply chains and incurs few returns – a major cost impact for online retail.

So, does your product + social media = sales? Maybe, maybe not. But you can bet Nike is spending big bucks to see if they can crack it.

 

The NDIS

The workplace is changing… and fast. Modern thinking compels us to create environments that reflect the broader society – and include gender, ethnicity, age and those who are physically or mentally challenged.

 

 

We’ve talked with leaders in this space – most notably Australia of the Year, David Morrison, and ACT Australian of the Year and Chair of the Canberra Business Chamber, Glenn Keys and the conclusion is simple: a better representation of the community almost alwways delivers a better bottom line.

With this week’s formal launch of the National Disability Insurance Scheme, there is new incentive to include this affected sector of the community within the workplace.

 

 

Last night on ABC TV’s The Business, Citi Group’s Josh Williamson ran his ruler across the scheme and came to the conclusion that the NDIS could create 20% of future jobs.

That’s a significant amount of growth to come from one sector. The pressing concern is whether your corporate culture and business structure is ready to take advantage.

 

Automation

It’s something of a buzz word at the moment, but that doesn’t reduce its impact across almost every industry.

China is automating its assembly lines as the cost of labour skyrockets. Email automation - via platforms such as Infusionsoft - is tracking and chasing clients through increasingly sophisticated strategies. Machine learning – the stuff that runs Siri and Google Assistant – can adjust your home heating or show you the last ten Marvel films.

 

 

The evidence is mounting: computing power is almost at the stage where technology seamlessly blends in with our lifestyle and workplaces. The need to issue commands via a keyboard and a screen is disappearing, and the workplace is changing before our very eyes.

In five years’ time, will you even need an accountant or a lawyer? Or will these (recently) professional services simply run in the background or respond via a request to your smartphone?

 

The key point across these trends is the assignment and use of labour. What will your businesses - and its employees - look like in 2022?