Is the concept of an annual celebration of innovation a contradiction? If a thing happens regularly – like the OCE Discoveryconference, can it do justice to the new, the creative, the evolving?
This was my ninth Discovery conference – a wonderful event held each year in Toronto where all things new in technology and business are showcased. A few thousand people attend, from academic researchers, startup and established businesses, to government representatives and other investors that support them. And they bring exhibits of their new technologies. There are talks, speed networking sessions, pitch competitions and plenty of catching up with new and old colleagues.
My first impression of this year was that it wasn’t as exciting as previous years. On reflection, I decided that was the point. And that’s exciting. Disruption isn’t coming from the introduction of a new thing, like mobile phones in 2009 to shift how we talk to each other, or affordable cars in 1913 to allow every person the mobility of owning an automobile. Disruption was coming into everything. Every business. Every industry. Every aspect of life.
Evolving areas of technology represented at the conference included:
- artificial intelligence, machine learning and big data utilization,
- 5G connectivity and synchronous internet connectivity for enhanced user experience,
- sustainability and cutting down greenhouse gases,
- autonomous vehicles,
- internet of things.
None of these come as a big surprise. The startling part was the myriad applications for these technologies. Here’s a sampling of what I saw:
Innovation in operations in stable, mature industries with sustained product demand:
- Beer and steel manufacturers optimizing input resource utilization
- Enhanced sustainability in agriculture production
Industries offering the next version product:
- Established players in telecommunications getting ready to deliver 5G
- The introduction of autonomous vehicles marching forward, with an emphasis on testing.
Advances in capabilities of established industries:
- Applications for monitoring and processing data, especially in healthcare
- Augmented reality to facilitate retail or business collaboration
- Artificial intelligence in accounting
All examples of existing businesses and industries incorporating new technologies, primarily to provide the same products to the same customers, only better. For the most part, this is what we call component innovation, rather than architectural innovation which destroys the entire industry. Enhancement rather than destruction.
In the category of new industries, there was crickets as a source of protein, but even this was discussed as a growth business with scale and distribution challenges, rather than an emerging one seeking market acceptance.
And cannabis. Another industry out of its early stage and into a growth phase.
And Space. This surprised me a little, except that space exploration is of interest both as a potential solution to the stretched resources of the Earth and as a new aspect of tourism.
The most startling, clever idea that was perfectly obvious after I saw it but never crossed my mind before that, was the establishment of hazelnut farms in Ontario. Big demand for the product. Uses existing resources (Ontario climate and agricultural history) with a few enabling tweaks (climate change, new cultivars). Incremental technology innovation.
Another great year of discovery at Discovery. Everything old is new again. Now that’s innovation.