Future Ready Leadership With Jacob Morgan

David Deming is the Professor of Public Policy, Education and Economics at the Harvard Graduate School of Education and a Faculty Research Fellow at the National Bureau of Economic Research. His research focuses broadly on the economics of education, with a particular interest in the impact of education policies on long-term outcomes other than test scores. Before becoming a professor at Harvard, David attended Berkeley and Ohio State University where he was trained as an economist. He has always been motivated by policy oriented questions and how economics can affect the real world. When asked if there is a skills gap, Deming indicated that if you look back to the job market 30 years ago organizations would hire people with few skills but then they would invest in those people to train them on the job. They were willing to take a chance on the new graduates. Now, the jobs are more fluid, employers don't want to pay to train employees and then have the employees leave a short time later. So we have people graduating from school without skills but people aren't willing to invest in them - we don't have the 'connective tissue' to pull the two together. One idea, Deming pointed out, is to develop a European style of building durable partnerships between universities and employers to bridge the skill gaps. They can share the cost and effort. On the topic of Universal Basic Income, Deming said it has some 'appealing aspects', and it is transparent and easy to understand. He also maintains that it does not discourage work and in fact, has some appealing aspects. People talk about it as a solution of the 'technological unemployment' (which Deming does not think will happen). Everyone gets the base amount of money – so if you want to earn a lot of money then this won't help. It is different than welfare. Welfare is a work disincentive because we only will give it to you if you are poor. Universal Basic Income goes to everyone regardless of the amount of money they have. Deming gave some advice to organizations. He says, don't be afraid to take a chance on somebody who doesn't come from the standard background - but might be good a fit for you. His advice for individuals is to try to be good at two things that are not common together. For example, a good coder who is also good social skills will be in demand and provide more opportunities. What you will learn in this episode: What David sees for the future of higher education and whether or not traditional education institutions will exist in the future The 90/10 gap in incomes The role of AI and its impact on future jobs Future job skill sets needed What schools should be doing and whether or not they should look like a workplace What skills should we learn in school and how quickly will they be obsolete David's view on the skills gap

Steven Tobin is a Senior Economist and the Team Leader at the Research Department of the International Labour Organization (ILO) and currently heads up the Policy Assessment Unit. His team is currently focused on undertaking policy assessments across a range of labor market and social issues. Before joining the ILO, Steven held several management positions at both the Federal and Provincial level of the Canadian government. The only tripartite U.N. agency, since 1919 the ILO brings together governments, employers and workers representatives of 187 member States , to set labor standards, develop policies and devise programs promoting decent work for all women and men. One trend that Tobin is looking at now is unemployment. There has been a downturn in Latin America which is pushing the global unemployment lower. The US and Canada have been doing well in this area but the lower numbers in emerging countries are negatively affecting overall rates. This downward trend impacts us all as the world is becoming more connected – if there is less demand for a product in places, such as Latin America, it will ultimately affect workers and consumers in the US. The US economy is one of the strongest labor markets in the world. However, there is still a perception among some people that something is wrong. They feel they are working hard but can't get ahead. This leads to feelings of injustice and may have played a role in last year's elections. It also may be fueling the 'America First' emphasis. There are jobs available in the US – and other countries – but are there enough? Many are short term, casual jobs and may lead to a mismatch of expectations. They do not provide the same benefits that 'standard' jobs do, such as sick time, paid vacation and retirement benefits. The 'gig'/freelance economy is a trend that the ILO recognizes and sees growing. Their concerns are whether people are choosing these types of jobs for their benefits or rather because there are no standard employment opportunities that meet their skill sets or needs. This gig economy leads to challenges for entire societies. Who should 'take care' of these employees when they cannot work? In Canada they have created voluntary accounts in which self-employed people can contribute to a 401 K and so on. Finland and Canada are piloting the use of universal basic income on a small scale. Basically, it is when everyone is guaranteed an income whether they work or not. The question remains as to what extent this would replace programs such as unemployment insurance. This notion of providing a minimum of a safety net is growing in the policy sphere. What You Will Learn In This Episode: What the next 3 – 5 years will bring in terms of employees/employers Some main trends in the world of work ILO's perspective on the role of AI and technology in the future of work What is 'Zero Hours' employment? Universal employment pilots Why it is important for us to pay attention to economies outside of our own country Steven Tobin's perspective on the US economy The difference between job creation and quality job creation Steven's perspective on Universal Basic Income

Monica Pool Knox is the Head of Global Talent Management at Microsoft Enterprises. She started with GTE (which would later become Verizon) and since then she has worked at several large companies including Pepsico, Sony, Twitter and she is now at Microsoft. Microsoft has 120,000 full time employees in 109 countries. But they also have a contingent workforce which is larger than their full time workforce! Contingent workers are doing everything that full time workers are doing, however, they allow for flexibility for the company. They may move to another part of the company or leave altogether once the assignment is completed. Microsoft also has a third classification of workers – full time employees that can be redeployed to another part of the company. This often meets the needs of both the employee and company. "Talent in the workplace – people want different experiences, different skills," Pool Knox says. People used to look at a company's financial records but now things have changed and the mission and purpose is what is really important. If the culture isn't something people want, they may opt to do something different. The office is now 'whereever you are'. The mentality of blending work and family and having harmony and integration is now where people's focus is at. This requires companies to be flexible when they are looking for the top talent to attract and retain. This is a big shift from years ago. Pool Knox says that she is worried that technology moves faster than we do, so are we going to have to have the new skills that are needed in the market. We need to find new talent to support those emerging skill needs. Microsoft goes to the traditional places – colleges, looking at talent pools in San Francisco and Boston and so on but they are also finding new opportunities in untapped places – unexpected places. Pool Knox gives advice to leaders thinking about the changing nature of talent. She says managers need to think about how they are getting work done. Think about how teams form to get things done – be open to a variety of possibilities. Encourage diverse teams – diverse in terms of education, backgrounds, and so on and then how to leverage those members to accomplish the objectives. And her advice to individuals is to get as much experience as possible to add to your tool box – this will make evolving easier. Consider learning a second or third language. It will help you not only in the workplace but with colleagues as well. Also, reach out to people via LinkedIn or other networks – people that might have new ideas and then connect with them. What you will learn in this episode: Why it is critical to evolve as an employee New ways people are learning The role of a growth mindset in business How Microsoft views the gig economy and contingent workers How the talent landscape and the employee/employer relationship has changed over the past decade

David Fairhurst is the Chief People Officer at McDonald's. Prior to joining McDonald's in 2005, Fairhurst held senior roles at H J Heinz, SmithKline Beecham and Tesco. For four consecutive years (2008-2011) he was voted the UK's 'Most Influential HR Practitioner' by readers of HR Magazine and in 2012 was awarded the magazine's first ever Lifetime Achievement Award for an HR practitioner. McDonald's is the world's leading global food service retailer who, including franchisees, employs more than 1.9 million people, in 35,000 locations serving approximately 60 million customers in more than 100 countries each day. More than 80% of McDonald's restaurants worldwide are owned and operated by independent local business men and women. McDonald's is known for its operational excellence. They see this as a '3-legged stool' made up by the suppliers, the franchisees and the company. McDonald's is often a first job of many workers. Their focus on training has provided an amazing legacy of alumni employees to the restaurant. Fairhurst talks about the 'workforce cliff'. This is the point where the workforce supply and demand converges – the number of babies born versus deaths. In the US it will occur in 2020. With that in mind, the idea of a multigenerational employee group is even more interesting and practical. He explains that research has shown that in restaurants where there are a large age range of workers, there is a positive culture. What do companies need from their employees? This may vary across sectors but it is a good question to ask. McDonald's has determined three things that they need from their employees, calling these the '3 C's'. Competence Confidence Commitment McDonald's also has looked at what employees value in their workplace. They found it to be what they call the '3 F's'. Family – work/life balance Flexibility – if family emergencies come up, can the company handle it? Future – ways can you make me more employable or valuable The real power in knowing these things is when you can get these to merge. Fusing the needs of the company with the needs of the employees can produce great results. McDonald's drives change across its global company by looking at 4 things. First is transforming the culture of their system – the customer is the center and then, by definition, also the employee Secondly, strengthening the talent management process. They want a robust talent pipeline Thirdly, making sure they have the right leaders with the right capabilities in the right structures to ensure they can meet current and future trend. And lastly, they are constantly seeking to strengthen their access to people. These are continuous and do not stop in their goal to lead and not follow. The opportunities are endless but when you take a little insight, it can create a massive impact - when you have 1.9 million employees. Fairhurst's advice for others is to, "Stop worrying about what you do not have control over. Get sleep and pour over what you can do. The differences you make today will get you noticed." What you will learn in this episode: How David Fairhurst got to this point in his career What is McDonald's Velocity Growth plan Why it is important for McDonald's to make a transformation Challenges McDonald's has had to overcome The impact of AI and automation on their restaurants Fairhursts advice to leaders, managers and employees The role of a multigenerational workforce What is the 'workforce cliff'? What Uber and McDonald's have in common Why is all-day breakfast a big deal for McDonald's?

Kim Scott is the New York Bestselling Author of a new book, Radical Candor: Be a Kickass Boss without Losing Your Humanity Kim is also the co-founder of Candor, Inc and co-host of the podcast Radical Candor. She led AdSense, YouTube, and Doubleclick Online Sales and Operations at Google and then joined Apple to develop and teach a leadership seminar. Kim has been a CEO coach at Dropbox, Qualtrics, Twitter, and several other tech companies Radical Candor is demonstrated when one cares personally for someone and also challenges them directly. Great bosses can be source of growth and joy. It is evident that they care about you. They will also tell things that you need to hear. The framework consists of four points: Radical Candor – praise and then criticize Obnoxious Aggression – when you challenge but don't care (praise that doesn't seem sincere or criticism that isn't delivered kindly) Manipulative insincerity – when you neither care nor challenge (non-specific praise or criticism that is not clear) Ruinous Empathy – compassion without providing honest feedback How does Radical Candor contribute to an employee experience? It will give you a witness to your life and it will help you grow in the way you want to grow. When you are doing great work, you want it recognized, when you mess up, someone will let you know. Scott gives four steps on how to get to Radical Candor. First, come up with a go-to question. People don't want to tell you so it's difficult. Think of a question. For example: Is there anything I could do or stop doing that would make it easier to work with me? Whatever question works for you - figure out how to ask it Second, embrace the discomfort. The only way to get the feedback is to make it more uncomfortable for them not to answer. So – after you ask the question – shut your mouth…count to 6… Third,listen with the intent to understand - not to justify or respond. You cannot be defensive or you will not get any more feedback in the future from that person. And finally, reward the candor. Give them a reward for telling you – if you agree with the feedback, fix the problem. And then tell the person and thank them for helping you. If you disagree, first of all focus on what you can agree with…then say I want to follow up in a few days. Then explain why you disagree. Sometimes the only reward is a fuller discussion of why you disagree. Scott says some of the most common mistakes are showing employees care but not challenging them directly (Ruinous Empathy), getting so busy we fail to show we care personally or challenge directly and just flatter people – (Manipulative Insincerity), being reluctant to have 'getting to know you' conversations – these are the basis for the beginning of caring, and criticizing the feedback. Do you have a 'bad boss'? No matter how terrible your boss is, you can be a good boss. You don't need to imitate yours. You can create a good micro culture. Start Kim Scott is the New York Bestselling Author of a new book, Radical Candor: Be a Kickass Boss without Losing Your Humanity Kim is also the co-founder of Candor, Inc and co-host of the podcast Radical Candor. She led AdSense, YouTube, and Doubleclick Online Sales and Operations at Google and then joined Apple to develop and teach a leadership seminar. Kim has been a CEO coach at Dropbox, Qualtrics, Twitter, and several other tech companies Radical Candor is demonstrated when one cares personally for someone and also challenges them directly. Great bosses can be source of growth and joy. It is evident that they care about you. They will also tell things that you need to hear. The framework consists of four points: Radical Candor – praise and then criticize Obnoxious Aggression – when you challenge but don't care (praise that doesn't seem sincere or criticism that isn't delivered kindly) Manipulative insincerity – when you neither care nor challenge (non-specific praise or criticism that is not clear) Ruinous Empathy – compassion without providing honest feedback How does Radical Candor contribute to an employee experience? It will give you a witness to your life and it will help you grow in the way you want to grow. When you are doing great work, you want it recognized, when you mess up, someone will let you know. Scott gives four steps on how to get to Radical Candor. First, come up with a go-to question. People don't want to tell you so it's difficult. Think of a question. For example: Is there anything I could do or stop doing that would make it easier to work with me? Whatever question works for you - figure out how to ask it Second, embrace the discomfort. The only way to get the feedback is to make it more uncomfortable for them not to answer. So – after you ask the question – shut your mouth…count to 6… Third,listen with the intent to understand - not to justify or respond. You cannot be defensive or you will not get any more feedback in the future from that person. And finally, reward the candor. Give them a reward for telling you – if you agree with the feedback, fix the problem. And then tell the person and thank them for helping you. If you disagree, first of all focus on what you can agree with…then say I want to follow up in a few days. Then explain why you disagree. Sometimes the only reward is a fuller discussion of why you disagree. Scott says some of the most common mistakes are showing employees care but not challenging them directly (Ruinous Empathy), getting so busy we fail to show we care personally or challenge directly and just flatter people – (Manipulative Insincerity), being reluctant to have 'getting to know you' conversations – these are the basis for the beginning of caring, and criticizing the feedback. Do you have a 'bad boss'? No matter how terrible your boss is, you can be a good boss. You don't need to imitate yours. You can create a good micro culture. Start by soliciting feedback and understanding what would make your boss' job better. Ask if you can provide some criticize. If you can - create this culture with your own team - and then work with your boss to create it. If you can't get to the point where you can get radical candor with your boss – if you can't criticize your boss, you might want to start to look for a new job. What You Will Learn In This Episode Do leaders need to find a purpose for their employees or is it the responsibility of the employees to find purpose in their work? What makes a good employee? Is it possible to learn to have career conversations? Efficient workplace practice ideas Why Kim Scott wrote her book Examples of bad bosses and good bosses How to have Radical Candor by soliciting feedback and understanding what would make your boss' job better. Ask if you can provide some criticize. If you can - create this culture with your own team - and then work with your boss to create it. If you can't get to the point where you can get radical candor with your boss – if you can't criticize your boss, you might want to start to look for a new job. Things you will learn: Do leaders need to find a purpose for their employees or is it the responsibility of the employees to find purpose in their work? What makes a good employee? Is it possible to learn to have career conversations? Efficient workplace practice ideas Why Kim Scott wrote her book Examples of bad bosses and good bosses How to have Radical Candor

Anindya Ghose is the Professor of IT and Business Analytics at NYU and the author of TAP: Unlocking the Mobile Economy. He is a Professor of IT and a Professor of Marketing, at New York University's Leonard N. Stern School of Business. He is also the Director of the Center for Business Analytics at NYU Stern. In 2014 he was named by Poets & Quants as one of the "top 40 outstanding business school professors under 40 in the world" and by Analytics Week as one of the "top 200 thought leaders in Big Data and Business Analytics". The Mobile Economy is any transaction that occurs on a smart phone or tablet. It is currently more than 3 trillion dollars of the world's economy – or 4.2% of the world's GDP. So we are only scratching the tip of the iceberg. Technology has changed the way companies can interact with consumers. Location accuracy came out about 10 years ago. At that point in time, people's location could be pin-pointed within 200-300 meters (~1000 feet). Now, the latest smart phones can locate the user within 5 feet. This information opens the door for many uses. Beyond the retail use, the Mobile Economy touches other industries such as banking, healthcare and construction. Using wearable sensors, workers walking and working patterns can help reshape where workstations should be or even how to design exits or entrances in busy airports. There are nine forces shaping the Mobile Economy. The first is context which looks at what the customer is thinking. There is also location, time, and weather. Saliency, or the ranking of your product, is also critical. Some other forces that come into play are crowdedness, trajectory, social dynamics and tech mix. The next generation which includes smart homes and cars are closer than we think. In 2 – 3 years they will include refrigerators that remind you to pick up the groceries on the way home from work. The smart phone will become the remote control for all of your appliances and devices. Ghose has found four behavior contradictions… people say they: Seek to be spontaneous but really they value certainty Find ads annoying but really they fear being left out, so they want ads Desire choice and freedom but too many choices and they get overwhelmed Want to protect their personal freedom but will use their personal data as currency to get things they want Ghose's advice for organizations is if you want to succeed in the Mobile Economy then you have to win the consumer's trust. You must act as a 'butler' not as a 'creepy stalker' and you must notify and ask for consent. His advice for consumers is to embrace the world of messaging and ads. If you do, you will receive lower prices and more targeted messages. If you don't, you will receive more spam and random messaging with higher prices. What you will learn in this episode: What is the Mobile Economy? Why write a book about the Mobile Economy when the mobile phone has been around for a long time The role smart phones will play in the future How brick and mortar stores track consumers movements…and why Privacy in the Mobile Economy How the Mobile Economy is being used to help the healthcare industry The 9 forces on the company side that are shaping the mobile economy The 4 behavior contradictions on the consumer side

Today my guest is Archana Singh, the EVP and Chief Human Resource Officer at John Wiley and Sons Publishing. Join us as we talk about what transformations Wiley is going through, why these transformations are important, how to create a sense of purpose for your employees and much more. Today's guest is Archana Singh the EVP and Chief Human Resource Officer at John Wiley and Sons Publishing. John Wiley was founded in 1807, and amazingly over 200 years later they are still going strong. They currently focus on business books, research and journal publishing with sizeable work around digital assets and learning, assessments and educational technology services, as well. Wiley is found in 60 locations across 40 different countries, employing 5000 people. There has been significant growth in the last 15 years with a blending of digital and traditional higher education publishing. How has worked changed? 1. There is more ownership as an employee of what is worked upon. Therefore, as an organization, how do we harness that? There is an increase need for us to understand this. 2. Everyone is seeking flexibility. How do we get our organizations to move to a more outcome based, rather than time driven focus? How do we change our dialogs to provide this flexibility? 3. People's minds are more fragmented – they have so many things to do and worry about. How do we – as organizations – get the productivity that is needed? How do we harness this to create advantage for our organization? What is the role of an employee? Three things: 1. Employees want employers to care and encourage connectedness 2. They also wonder how they can participate in shaping the organization. They want to make an impact. 3. They also question - am I employable and am I learning enough? They want to feel they are being relevant - both internally and externally Singh gives advice to companies looking to reinvent themselves. She says, to begin visualize what your mission is and where you want to be. Where do you want to be at the end of one year? In 5 years? She also states it is important to engage people and to hear what they think. Encourage employee participation and use a joint approach to identify what matters. What you will learn in this episode: * Initiatives going on at Wiley to continue to transform a company over 200 years old. * What organizations can consider to transform their physical space without a budget * The role of the mission statement on company culture * Ideas of how to create a sense of purpose among your employees. * Singh's advice to companies who are looking to reinvent themselves * How work has evolved Quotes: * Our true north is life-long learners - whether it is a researcher or a student - and they guide us in what we do * There is an increased need for us to understand how to tap into this freelance energy. * Every small thing we do is more important than 'big bang' programs.

Today's conversation is with Dr. Jody Foster, author of The Schmuck in My Office and a Clinical Professor of Psychiatry. Our discussion centers around dealing with difficult people at work and learning to look for the reasons behind their annoying behaviors. Dr. Jody Foster is a Clinical Professor of Psychiatry in the Perelman School of Medicine at the University of Pennsylvania, Vice Chair for Clinical Operations in the Department of Psychiatry at the University of Pennsylvania Health System and Chair of the Department of Psychiatry at Pennsylvania Hospital. She attained her MBA, with a concentration in finance, from the Wharton School. She is also the author of the recently released book, The Schmuck in My Office Dr. Foster was involved in forming a program to deal with disruptive physicians which became publically offered due to interest in resolving the same issues in other settings outside of the medical field. After the program became public, Dr. Foster was approached to write the book to share the program's main ideas to the general public. We all have traits that make us who we are. None of these are problematic by themselves, however when we allow these traits to interfere with our work or our relationships with coworkers, they can become an issue. In Dr. Foster's book she lists out 10 types of traits that are often observed and can become disruptive to a workplace if they get out of control: Narcissus – their ego fills the room Venus Flytrap – their initial appeal may draw you in, but anger later surfaces Swindler – the rule breaker Bean counter – the controlling micro manager Distracted – has real difficulty in time management, frequently has unfinished projects Mr. Hyde – someone who struggles with an addiction problem, one that was not apparent when hired but then another 'person showed up' The Lost – one who is experiencing cognitive issues, and who is getting sloppy Robotic – one might say they were a 'person on the spectrum' – very little social skills Eccentric – the person has odd or magical belief patterns - the beliefs are 'strange' Suspicious – thinks that there are conspiracies, looks over their shoulder Dr. Foster states that the most common are those titled, narcissus. They may demonstrate behaviors that seem like they feel entitled, seek attention and exaggerate their accomplishments. One key way to deal with them is to attempt to understand them. It may be that the person has a low and fragile self esteem. They may be afraid to be found smaller than average, in some way. They also may not realize they are dominating the conversation – they are used to controlling the conversation and they may not even have full realization they are doing it. Giving some positive feedback and acknowledging their story may be helpful. Dr. Foster says, "You want to find a culture that is right for you." It could also be that the disruptive person is working in the wrong setting for their personality type. Sometimes a worker that is labeled as disruptive is actually just in the wrong workplace culture. "What is considered disruptive to one person may be attractive to another", states Dr. Foster. Dr. Foster gives tips for dealing with difficult people. First of all, she says, you have to accept the fact that people don't want to be disruptive. It is important for us to work to understand the people around us. We also have to understand that what is disruptive in one culture may not be disruptive in another. You should try to call out disruptive behavior when you see it, waiting just causes hard feelings to build up to the point of anger. You should take a step back and examine why a certain behavior is bothering you, in some instances it could be because you see something in a person that is a trait you don't like in yourself. Another tip Dr. Foster gives is, if the other person doesn't see a problem then you have to set limits. And finally, ask the question, 'Am I the schmuck in the office'? Are you going from place to place and continuing to 'see the same issues'? If you are, you could be the problem. What You Will Learn In This Episode: Tips for organizations for dealing with 'schmucks' Personal life 'schmucks' If you aren't happy in your job why it might be time to do some reflection! Why Dr. Foster wrote her book What are the 10 types of people and how can you identify them How can we get to a point where we can understand the truth behind someone's actions Real life examples of how to deal with others What roles does the environment play vs. the individual

My conversation this week is with John Hagel, the Co-Chairman at the Center for the Edge at Deloitte, and we are talking about the future of work: what you need to know, how to prepare and what to look forward to. Today's guest is John Hagel the Co-Chairman at the Center for the Edge at Deloitte and author of 7 books including: The Power of Pull. John leads the Silicon Valley based research center for Deloitte. Their charter is to identify emerging business opportunities that should be on the CEO's agenda, but are not, and to do the research to persuade them to put it on the agenda Automation and the future of work are part of a bigger shift of how business is changing globally. The main issue is the rapid increase of technology. Hagel believes that 'robots can restore our humanity'. He explains that the way we define work - highly standardized and integrated tasks - will be able to be accomplished by robots – which are much more efficient than we will ever be - leaving the creative work to humans. Hagel says the availability of robots will become the catalyst for a shift in the work that humans will do. Instead of routine tasks that can be done with robots, humans will be focusing on being creative. This transition may be a painful one for some people – taking them out of their comfort zones - so we will need to look at how we can support people as they move to these new roles. This change can be stressful, but we need to find a way to turn that anxiety into excitement. Hagel says, "People who learn fastest are those that are passionate". They are constantly looking for the next challenge and are excited about it. How do organizations or even individuals face this magnitude of change? Hagel suggests 'starting on the edge'. In a large organization, such as a school, find a way you can demonstrate a new kind of work to use as a magnet to pull people in. Use time after hours to encourage creativity and provide opportunities rather than trying to change the traditional school setting. Individuals should think about what makes them really excited. What hobby are you passionate about? Start to explore how you can make it more of what you do for a living. Start on the edge…don't quit your day job, do this on the side. Develop a questing disposition – what are your reactions to unexpected challenges? Most workers go into fear and avoidance mode. The passionate are excited by the challenges and actually go looking for them. Another element is a connecting disposition. People with this attitude seek out others who are experienced in the field they are pursuing – so they can get answers faster. They work to connect with others. What is the future of work? In the short term there will be 3 things: Evolving in world as customers we have more power. We want creative services and products that are customized – not standardized mass market. Recognition of different work segments – Millennials and Boomers who are looking for ways to do more creative work and learn more in the process Technology coming in and replacing routine tasks – work meant for humans not done by machines. What you will learn in this episode: How can robots restore our humanity? Will there be a job apocalypse? How your favorite hobby can be your next job! How gamers and surfers' perspectives can help you find your next job Advice for parents and employees about the future of work

This week's guest is Daniel Franklin, the executive editor of The Economist and editor of The Economist's annual publication The World In.... which focuses on predictions for the upcoming year. He is also the author of the book, Megatech: Technology in 2050 Looking beyond the immediate horizon is helpful when looking at future trends. In particular, Franklin looks at the drivers of change. For instance, follow the money and what does that tell you? Look at what might hold technologies back or push them forward and that gives some insight into future trends. The title of the book – 2050- is a metaphor to encourage one's thinking to push out to what might be possible in the future. One of the future technologies that Franklin is paying attention to is farm technology. By 2050, it is predicted that there will be 10 billion people on the earth. The need to feed all of these people is critical. Therefore, a combination of advancements – such as distant farming, the massive applications of data to farming, when to sow and harvest, when to water and fertilizer, will help to meet the need to support that population. While food is very important, so is energy. In the future, solar and wind technologies will become a large factor. Franklin sees that more power will be in our homes rather than in a big grid. This leads to a discussion of the potential to create a lack of incentive in the workplace towards finding other ways to produce energy when the "sun isn't shining and the wind isn't blowing" and how that will be resolved. Moore's Law [processor speeds, or overall processing power for computers will double every two years] has proven to be 'doable' by the industry. The 'metronome' – the regular beat of efficiency – has led to astonishing changes. The smartphone is one way in which this is exemplified. The smartphone has allowed people to now have computing power in their pockets - the same power that used to take rooms to achieve. This makes us hungry for ways to have more and has become the lifeblood of lots of industry. We have reached the point where we can't go any smaller so there has to be another means where we can continue to produce gains and efficiencies such as in the past. This is the challenge of Moore's Law – if the computer loses its metronome. The bad news is that it's tougher and more expensive and gains don't come as regularly as in the past. The good news is the computer capacity will continue to grow, such as the use of 'clouds' and improving software. Franklin's advice for business leaders? Think big and broadly about the possibilities that are there, be prepared for things to happen faster than you probably imagined. Think about what happens to your industry when data processing becomes more efficient and be prepared to be flexible in the heart of your operations. Franklin also says we shouldn't be afraid of trends. Instead we should look at them from the point of view of 'what does it offer me'? We should be excited about the possibilities of future trends, rather than fearing them. Things you will learn in this episode: Science fiction and its role in the 'real world' The future of wearables & autonomous vehicles What about virtual reality in the future? What are some big picture things that Daniel Franklin is paying attention to? What the future of farming will look like Why when it comes to energy we have a problem of plenty rather than a problem of scarcity What is Moore's Law and why is it important? Where is augmented reality at now and where will it go in the future