Emerging Technologies

you okay so do you know why you’re here because I have no idea what the hell you’re doing here no I’m I’m kidding so why are you here who wants to start off by telling me why you’re here what do you think is going to happen in the next 45 minutes or so so they really have no idea good thank you of Jesus you can read the thing I’m going to talk about strategy strategy everywhere but how technology enables it all so this is really a thinly veiled commercial for mis which in the real world has never referred to as mis it’s referred to as IT information technology right so if you’re having a conversation with your parents and you say something about mis they will have no idea what you’re talking about but if you say I t they’ll know exactly what you’re talking about okay so the challenge of this whole presentation and really the challenge and big question for your life is you’re nothing without IT so just think about that for a moment if you had no access to hulu you didn’t have an iphone he didn’t have an ipad you had no desktop you had no laptop you had no tablet of any kind how would you survive could you survive you could not know you who said yes you’re lying so there’s no there’s no way there’s a few of you there are a few what used to be called way back in the UK I forget what 17th 18th century the Luddites right who objected to all technology but the fact is that not only can you not survive without IT companies cannot survive with IT and that’s really a no-brainer I mean it’s just they cannot survive without information technology and that opens up in a tremendous opportunity for those who want to study and mostly apply technology to solve business problems so we’re going to talk about that in the next 45 minutes or so we’re going to start with strategy and you’re going to get courses and all this stuff you can’t courses in finance and and accounting and marketing and notice how I’m saying these things and and all the core courses and certainly strategy you’re going to get all these courses but trust me underlying every one of these disciplines is information technology these disciplines could not be practiced without IT you could not do accounting marketing or finance or anything with that IT and i am happy to debate any faculty member and bring with me every corporate leader who would agree with that so here is some of the statements that you’re probably familiar with and maybe you will about to be familiar with you to take a strategy course but these people say things like this this is about business strategy right business strategy so i love just how i found these things are because they say certain things like this get the right people on the bus the guy who said that gets fifty thousand dollars an hour for a lunchtime presentation i’m not exaggerating i like the one that growth is the oxygen of business good as the enemy of great you can read those yourself what’s the point i’m trying to make the point i’m trying to make is that they’re not that profound and they all end with technology so just read those just take 30 seconds or 20 seconds if you can read fast and just read those and think about what that means right and read the yellow if you don’t want to read the white assuming you’re not colorblind this is the point I made in the beginning of the presentation without technology there’s no business you could argue depending on how obsessed you are with digital technology you have no lives without technology but all the major strategic challenges of companies face are only soluble with technology you know what they know it they all know it I’m going to talk about that so if you look at the common kinds of perceptions around technology which we’ll talk about there’s really no distinction between one versus the other but the dependency is now one hundred percent now we could not make this statement 20 30 40 years ago not even close but since the beginning of the 21st century it’s one hundred percent dependent this was the view of the world in business in the 20th century 20th century strategy what’s the company’s business model who are they selling to write with General Motors well they’re selling cars who are they selling them to they have models insurance companies they have business models that try to find people make they employ the disciplines and people that working working those disciplines marketing finance technology innovation and sales all the things that you’re familiar with since you’re in the business school but what’s happened more recently is technology is now in the

middle it’s now all about technology everything now revolves around that because you cannot do any of those things without technology and again you believe me because I do a lot of work in the private sector and my background is one that I have worked for companies as a chief information officer has a chief technology officer and they know this they understand the dependency one hundred percent so the people in the private sector I don’t need to make this presentation presentation to them they are to get it so when they think about the business challenges going forward they think about these kinds of things and then they want to know what the role of technology is and what we’re going to do in the next day 15 or 20 minutes it sort of very quickly go through these kinds of 21st century business challenges and then look at the role the technology plays so how do you find new customers you follow them around new and existing customers and this whole thing this whole approach in technology is called location awareness or location enabled services how many of you are familiar with that how many people here are members of foursquare come on you’re kidding right foursquare have you heard of foursquare companies are using for skirt foursquare like crazy to connect people projects processes products services all kinds of things to basically build virtual teams not just the people trying to solve problems for a company but also to sell them sell them various things so you know people will check for those of you who are members of foursquare people will check in they’ll check in there’ll be a chickie and petes and they’ll check in i’m now a chickie and petes if you check into chickie and petes like 5,000 times you become the mayor of chicken peaks in the Foursquare world and you get free stuff for life so location awareness right one of the first ones was a little application called loopt it’s been around for about four or five years now and the first application was I’m at the mall where are my friends so all of my friends that are connected maybe on a social network like Facebook it would immediately show you on your smartphone exactly where your friends were all you have to do is sign up for looped and all your friends do the same thing and you can know exactly where these people are now meanwhile of course the merchants know where you are so if you’re at the mall and they know you’re only 15 or 20 feet from the cheesecake factory they’re liable to send something to you directly and say oh I see you at the cheesecake factory with your friends who are about 50 or 60 yards away from you if you all come in now we’ll give you two for one that kind of stuff right so what’s happening is that companies now are tracking their their customers over time so so many examples of this and people build these applications people build these applications they figure out which companies can best use these kinds of applications then they collect all the data around what’s happening with those applications and they enable themselves to increase revenue by finding new customers and servicing their existing customers better so this is more examples of this this goes on forever I will not bore you with this going on forever although if you want a viable career doing stuff like this this is pretty cool stuff I mean you can always be an accountant for crying out loud I’d be careful and being videotaped be careful what I say about the other disciplines but seriously if you want something more dynamic this is brand new stuff brand new stuff so how do you acquire a scale technology now this is interesting how many of you have heard of cloud computing I suspect all of you have goods and doing the readings it wasn’t fourth or fifth chapter it appears for the first time so you better know about it it is a phenomenal change in the way we deliver technology right so one of the hats that I’ve worn in previous lives is a venture capitalist say back in 1995 2000 up into about 2,000 when a new company raised money right so entrepreneurs come in they pitch a VC venture capitalist and you ask them the question you always ask them what is the use of the proceeds when you raise this money to get your company off the ground how are you going to spend the money well back in the day what 13 years ago they would say well we’re going to buy technology and about ten or fifteen percent of the money ten or fifteen percent of the money raised would go for technology do you know what it is now what is it today and we want to guess 80 you want I guess again you’re on the right track can you do this one percent okay so I’m an entrepreneur and I raise 10 million dollars I have one percent going to technology why is that the case cheaper what am I doing with it I’m renting it cloud computing I’m not buying anything back in the day just 13 years ago companies would have to buy all this stuff they buy the hardware they buy the servers and they have to have people install it and support it now they don’t do it anymore now they just I mean microsoft office microsoft made the announcement they’re going to

have a version of microsoft office with the ipad they made that announcement kind of quietly about a year ago right and now what are they decide to do they’re still going to probably do it but now office 365 is now basically changing that whole model that means office in the cloud Microsoft Word PowerPoint Excel in the class right so office 365 so why do you have to even buy it even for the ipad you don’t you can just rent it you pay for what you use this is a phenomenal change in the way technology is delivered i’ll come back to this at the end of this of this discussion and this is a picture which you’ve probably seen in the class already about cloud computing and all that good stuff so we’ll skip that how do you distribute the company and this really has to do with mobility years ago IBM used to stand for what anybody know what that acronym stood for among the employees what did it stand for it maybe I have any idea where his parents work for IBM yes now that’s the actually real name diva among the employees the kind of colloquial geez you’re cynical no no it doesn’t mean piece of history I’ve been misled no in Houston I’m gonna I’ll stop this right now because God knows what I’ll get for IBM I’ve been moved I’ve been moved and the reason why I stood for that among the employees for so many years is because IBM had this policy where they would move people physically from state to state or region to region country to country I’ve been moved if you want to advance at IBM you had move right well more recently what does it stand for and thats related to that now I’m not going to let you do that again no I’ll tell you what the answer is more recently the IBM stands for I’m by myself and the reason for that change is IBM has invested heavily most of the people that in global services the big consulting part of IBM don’t go to an office they work out of their homes right so a jetblue if you’ve ever flown on that airline all the reservation people work out of their homes there are so many examples of this mobility and the and the ubiquity of mobile technology is enabling all of this right so it’s really about independence so when you think about you must have a Starbucks card right so you think about mobility simply go in you swipe and pretty soon of course not pretty soon it doesn’t have to be in their own card I mean that the debit cards and the gift cards are already obsolete now they’re being integrated right into smartphones right so for pretty much everything I’m sure I assume when you fly that you have your boarding pass on your smartphone that you don’t print something out the night before maybe you do but don’t tell me because I’ll be depressed because you’re young you should do the cool thing this again so many applications so many out there and companies are beginning to figure out that you know we don’t have to have real estate we don’t have to have offices we don’t have to invest in in all kinds of Technology most of which can be in the cloud on behalf of both our employees and our customers I mean we’re in a real sea change time we’re in a real change right things are changing dramatically this is arguably the most exciting time we’ve seen in technology ever and without dating me I am I began my career working at DARPA anybody know at DARPA is dar PA do not give me an answer for that acronym please Defense Advanced Research Projects Agency anybody heard of darker no interesting you have DARPA created the internet so DARPA was the agency that created the technology upon which the internet was built the first deployment of that was the ARPANET ARP a any tea and there’s a great video tape of a bunch of people that worked on the ARPANET and all that technology and this relates directly to how exciting a time this is and it’s a videotape that was released just a few years ago and it shows Bob Kahn and Vint Cerf the two people who create the technology underlying technology and a bunch of us in a room and they were presenting to us and and the camera panned away from them and went to the audience and everyone was asleep and the title of that videotape is birth of the internet so I bring that up because that’s pretty exciting and then in the 90s when late 90s we had the explosion of the internet then a lot of people were very excited right the dot-com and all that kind of thing new companies were amazon this form ebay was formed companies are very familiar with they were arguably very exciting times today if you bring the same people in the room they will say what’s happening today in terms of opportunities is dwarfing what happened when the internet was first made available on Moss right that was about what 1995 1996 1997 so this is a very exciting time mobility location awareness cloud computing it just goes on and going how about this how about social media I know you’re in social media how many of you on facebook everybody my homework how many Twitter good social networking wasn’t around five years ago right not the way it is today companies are using social media

now to do all kinds of things things maybe you don’t even know about what you’ll know about in about two minutes so can you think about the social conversation you probably can’t read that but the point of that is that there’s a lot of stuff going on and facebook and twitter is only a small part of it but companies are using social media now to do all kinds of things all kinds of things and we’ll talk about a few of them but there’s your list obviously customer service and social customer relationship management so they’re integrating you know what their what the customers are saying in addition to their sales data so a simple query from a CRM system or a database management system might be something like show me my most profitable customers I want a list of my most profitable customers I want to know if the sales have to those customers since they’re my most profitable have increased over the past few years this is a query against struck sure data but how about this query how about the query that says do my customers like me or do they really hate me do they like my new menu at my restaurant or do they not like it do they like the service that I give or not and so forth and so on you can’t answer those questions from a structured relational database management system unless you integrate unstructured social media in so this is a simple example of people on this is data that was actually collected on behalf of Apple in one day there’s like twenty thousand total posts excuse me that yet one day Twitter Facebook the majority right and you get a real sense as to what people think about not just Apple in this case but anybody and these are tweets blogs and posts right and there are thousands upon thousands of them and what we’ll talk about now is what the companies do with this stuff and why is it so important in addition to trying to avoid people being mad at them the world has really changed in terms of the impact of the social conversation and companies know this back to career opportunities they’re hiring social media listeners and engagers like crazy they’re hiring companies to listen on their behalf with social media technology but back in the day right before all this someone would say if you have an entrepreneur or a restaurant or might say if somebody comes into my restaurant and they have a bad meal that’s not a good thing but they’re probably going to only going to tell five to seven people that was the marketing rule of thumb they would tell five to seven people right so now what happens when somebody has a bad meal its depending on who’s saying and who’s tweeting and blogging and posting it it could be seven million it could be 70 million it could be 700 million so companies have to really really worried about this there was a story that happened last year there was a student at the University of Arizona maybe was arizona state and we’re familiar with this he bought a medical policy from aetna and was one of those policies that they love to sell you because you’re young and healthy and they assume they’re never going to have to pay anything and he got cancer and within a few months he had burned through half of the limit the limit was said $300,000 that’s gone by the way now we have Obamacare that limit is gone but there used to be limits at all different levels and for a student buying something with 300,000 dollars within a few months he was almost halfway through it so what did he do he decide to go on Twitter he went on Twitter and within about and complained about Edna and within a few days he had 17 million followers and then I went to 25 million then I went to 50 the CEO of Aetna went on Twitter and started to respond the first response was well you know you bought the policy it wasn’t very expensive we have to have some limits on these kinds of things that was not a good idea right so now it goes to 70 million 100 million now this this kid who’s dying he’s got all these people following him well long story short they eventually aetna did the CEO said okay okay because of this incredible pressure that was that was the result of the social conversation decide to pay for things right well of course the board of directors at aetna wasn’t too happy because that means he essentially justified every policy holder that there would be no limit one thing I cancer and so forth so the power of social media love the chevy camaro where they not just talk about things but they put videos up and they show them to people and they get a real sense as to what works and what doesn’t and a lot of complaints and a lot of views and all that stuff companies are spending a lot of money on what they call social business intelligence they’re hiring people like you perhaps right to go out and actually do SBI social business intelligence that means they listen all the time they’re not doing it manually they’re using sophisticated technologies in fact the technology is so sophisticated that it’s even predictive it’s predicted so could you tell from

social media who is going to win the election the presidential election absolutely they knew long before that Obama was going to win in Iran they knew that okay another example simple things not so simple read that being able to predict revenue about a movie this is a real study okay look at how diagnostic look how deadly accurate simple Twitter feeds are in predicting how well or poorly a movie is going to do you don’t think companies are interested in this of course they are they’re very interested company I do some work with did a project for cosmopolitan magazine cosmopolitan magazine you’re probably very familiar with it simple things what are people saying about the magazine what are people who is reading it you can do all kinds of demographic and all kinds of socio economic analysis based on tweets and posts and bogs and all that and they discovered that tremendous number of people females were reading cosmopolitan in bed at night drinking tea cosmopolitan had never accepted advertising from tea manufacturers because of the study cosmopolitan was able to go to the tea people and say we’ve got like 50 million people that drink tea would you like to advertise in our magazine of course right that’s the kind of thing you can discover with social media so to say this is another hot area would be crazy right obviously on fire analytics analytics is interesting and some of you are have a minor in analytics it’s a terrific field this especially when you’re married to big data and big data analytics becomes even more valuable right now if you were a data scientist that is the new term right if you’re a data scientist that someone who has a background in the ability to integrate and analyze both structured and unstructured data I gave you an example of that previously if you could do that your starting salary at a company like four door or GE would be and we like to guess somewhere between 175 and 200,000 so they’re paying right now for those okay so this is a different world so being able to have a background in big data we don’t have a degree program in dedicated cloud Adelaide’s is terrific and that’ll it enables you to answer these kinds of questions what’s going on inside my company but more importantly what’s going on outside my company in terms of a variety of opportunities that I might have the marriage of location awareness for example and customer data equals analytics incredibly powerful I gave you the example before Europe you’re at the king of prussia mall it knows where you are knows where your friends are it knows you like a particular kind of food right so now we’re getting into the analytics part of this and therefore based on that the if then if you’re there and we know what you like and what you don’t like we know who your friends are we know how old you are we’re how much money you have we know what religion you are we know everything about you we can pitch things to you and that’s exactly what’s happening with this whole that’s the purpose of analytics the purpose right so there is this big data problem which is going on now that most of the relational database management systems that we’re all going to be talking about in this course in 2006 really don’t handle very well and that’s that structured piece they’re all scrambling to get that but the big data problem I mean you think about most of the data look at that over ninety percent of information is unstructured that’s images mp3 files videos social media it’s a real challenge going forward that’s why the data scientists and they’re getting all that money right so seventy percent is user-generated content you can read for yourself so how about innovation how about innovation so years ago maybe some of your parents years ago people that companies like 3m or DuPont or General Electric big companies when they had complex things to discover they would go out and they would hire a bunch of PhDs they’d give them highly highly starched white coats they’d give him a place to work in other words they would remember the I’ve been moved and I’m by myself they would actually give them real estate meaning offices and they would say here are the problems would like you to work on we would like a jet engine in the case of GE to be forty percent more efficient and fifty percent lighter and we want that answer in five years or if it were General Motors they’d say we cars to be 45 miles per gallon and a whole lot lighter and safer in three years and they would have these people working away well now we have something called crowdsourcing and these are sites as a site called innocentive you can go to InnoCentive calm and you’ll be blown away by this right so what companies do the same big companies that previously were housing their own people in sourcing innovation are now saying is there anybody out there that has a good

answer and they’re paying them cash prizes big cash prizes all right so this is something else you need to be aware of you can see some of them some of them are bigger than others if you know about immortalized in sex cell cell line for neuronal studies will give you a hundred thousand dollars whatever the hell that is but that you get the idea all right so here’s an example of where you can actually use everybody out there on the web to in this case using the game online game folded 57,000 plus players help scientists at the University of Washington solve a long-standing molecular biology problem within three weeks they didn’t pay anything for this this was a game this was kind of fun but the real kick is that so those scientists that were working on this could not solve this but in three weeks it was solved now who does all this there are companies that build those websites the companies that manage that whole process innovation through crowdsourcing this is another opportunity so innovation is now the field the discipline is open innovation it’s pretty hot to put it mildly more crowdsourcing right so those of you in marketing I want to depress you right now so in marketing back in the day again when I say back in the day I mean like 10 years ago maybe even five years ago if I need a new logo a new design I would hire an agency entire shiet day or somebody from the big agencies and they would charge me an astronomical amount of money I mean ridiculous to come up with I mean my god it’s a new branding campaign right a new logo new graphic design new stationery all that stuff and typically you would spend between if you’re a you know a fortune 1000 or even a 2000 company you spend easily between 500,000 and a million dollars or you could go to what you can do right now not right now because I’m speaking that would piss me off you go 99 designs 99 designs.com and you could say I want a personal logo you want a logo for yourself right and what would happen this is crowdsourcing again what would happen what would happen is that within a few days you would get hundreds hundreds of ideas hundreds and how much would you pay for that Oh probably 100 $99 no exaggeration all of these sites do all kinds of things you need to go to sites like mechanical turk on if you’ve been in the mechanical turk TaskRabbit those are sort of like where you know little tasks get performed and people bid on them it’s not very much money world’s changing the people that understand this the people that create and manage this the loan the future Starbucks an IT pretty obvious right mobile payments social media of course desktop virtualization let me stop there for a second look at my time it’s good desktop virtualization is interesting because what Starbucks is doing is what Villanova is going to do this whole idea of a laptop program where you have a laptops right you got the laptop program isn’t that great that’s going to go away and it’s going to be replaced by virtual desktops when you walk on campus regardless of your device whether it’s a tablet whether it’s a laptop whatever it is it will recognize you and drop all your courses on to that device and all the contents for all the courses all the books and everything else so this idea of a standard machine inside of a company gone absolutely gone within five years companies will not be buying 5,000 Dells right and if you doubt that look at Dell stalked over the past five years right it’s down fifty percent oh by the way what is debt what is Del considering doing now anybody know a leveraged buyout take the company private it’s so cheap nobody wants to stop because dell kind of missed it right in the sense of not having an aggressive platform strategy that involved tablets I mean yeah they’re all trying to catch up with the iPad which is the device i’m using here is replacing all kinds of things beyond that cloud computing consumerization of IT we talked about these things competition for talent and big data analytics right so they’re really investing heavily in all of this stuff and starbucks is not alone every company is investing in all of these things they have to survive so 21st century strategy business moves fast you can read for yourself since global it’s 24 7 obviously right so you know 20 30 years ago this whole question of should we globalize well now it’s like yeah if you’re going to sell to a lot of people you are going to go global eyes they keep the kind of ballistic and disruptive they keep changing their business model they keep moving quickly the good news about strategy is that technology those characteristics of strategy can be satisfied can be

addressed by technology it moves faster than business we have a phenomenon now that we’ve never seen before in technology I’ve never seen before and I’ve applied a lot of Technology never seen it which is people will go off and just deploy technology that in the old days would be considered unproven so perfect examples iPads so I pads were created corporate IT was things saying things like we’re not sure if they’re safe and secure right but the marketing departments went out and bought as many they get the hands-on and they bought thousands and then they went out and they found people to develop applications and they probably found people in a crowd source which you can to develop an application for that for a marketing purposes for twenty five thousand dollars versus what you might spend 500,000 to a million and they went often did themselves and it worked out just fine and then corporate IT kind of caught up with it later on and said yeah it’s basically safe it’s okay go ahead and do it because they realized they had no choice what’s happening technology and strategy are coming together the first point I made at the beginning of this presentation right it’s coming together and there’s certain things that have to be true so one cannot exist without the other you will not find a company’s how you use your careers grow you will not find a company that has silos of technology and marketing and accounting unless it’s run by people who are 90 years old okay you will not find that because today you can’t do a new branding campaign marketing campaign you can’t deploy a new ERP system you can’t do customer relationship manager you can do anything without technology you can’t do anything companies realize this so years ago in the 80s and 90s certainly people would think of technology almost as an afterthought we don’t have to worry too much about the social will backfill with technology now your business model is driven by technology it’s driven by technology so when I think about the emerging technologies I look at all of these and there’s a relationship right and there’s more to come there’s more to come if you look at the list social meet at analytics social media location awareness mobility and cloud if this were 2,000 we wouldn’t be having a conversation we wouldn’t be having a conversation it’s all brand new right and that’s what’s happening with this field it keeps introducing new technologies that enable business processes the first thing you said because you read my chart all right so what are we doing the MIS major I mean we do all this stuff I mean I must say even though I’m on camera I don’t like em is because it doesn’t track with corporations they think of IT information technology right or they think of digital technology and increasingly they’re not drawing as I said any separation between one and the other business processes and the technology that enables them so the major it prepares you for that everything I talked about here mobility location awareness cloud computing crowdsourcing all of those things are enabled by the major and there’s a big difference obviously between computer science computer engineering and mis you know that already mis is much more about applications databases management solutions and implementation consulting audience strategy it is about building this stuff you have to know how to exploit it what companies want to know is okay great so social media is out there what do I do with it when I collect all that data what do I do with it the same thing is true with with applications that may have to do with mobility how do I get two more customers location awareness how do I find them so you know the program structure if you don’t there it is again and increasingly we’re moving to the right moving a lot of these new technologies integrating them more into our courses and developing new courses I just found out that I’m teaching a course in the fall called emerging technologies brand new course it’ll be on deep dive into these technologies and how business can use them all right and actually building stuff sauce is going to be a lecture listening it’s going to be building stuff so don’t don’t sign up for the course if you don’t want to work and build something so careers are good I’m kidding sort of I’m kidding but not ruin my ass careers you know about this we send people here I’ve got my students going to to abate and we can arrange this for others if they wanted to vanguards going to do a a tour the CIO at Vanguard is an old friend of mine an old friend of vilanova’s john mark on would have just told me this morning that sure Bray mount Robert aid to Stefano center which is out in Wayne and actually walk through and see this stuff it’s very cool very cool stuff average salaries not for data scientists are much higher but mis continues to be at the top that you probably didn’t know that most people don’t know that was some of the highest salaries out there starting salaries right and the rest of stuff I could comment if I wasn’t being filmed I would tell you what I really think about what’s your light would be like as an accountant versus somebody

that does social media 3.66 trillions that’s a big number that is a very big number right so that number is on IT and thats in just one year and that’s every year okay and it’s growing by ten percent this is huge absolutely huge the other fields are not growing at this rate not even close right just cloud computing just cloud a trillion by 2015 just one of those things I talked about today right so there you go amazing so the point I was trying to make obviously is that you’re nothing without IT and we’re nothing without IT personally and professionally but mostly the point is about business now look my career started in the private sector and and creating technologies I was in the tarp in places like that and then start to apply the technologies and the technology the pace of technology change back in those days wasn’t anywhere what it is today so now you have to stay on top of this this is another way of saying which by the way sometimes is sometimes identified as a downside of this career path things change all the time so you can’t just get your degree and then okay I’m done now I know enough to be successful for the next 50 years no do you it’s going to change all the time as we mentioned all the things I talked about today in the year 2000 didn’t even exist didn’t even exist some people think that’s too much work other people other people think wow least I won’t be bored now you won’t be bored and then for those of you who care about money then maybe a few of you hear that do you’ll make a boatload of money in this field which fate which essentially has no ceiling and by that I mean a lot of people in technology they will learn technologies continuously of course they’ll apply the technologies may be in a large company and then what often happens is a group of people say let’s go form a company let’s go off and do maybe we’ll build the new technology or maybe we’ll build technology services company and there’s where there’s no there’s no ceiling on the amount of money you can make it doesn’t happen as often in the other fields to be honest it simply does it and you know that’s true anyway because most of the venture capital money goes into technology startups right I mean I’ve been in venture capital for 20 years I’ve never heard of anybody putting money into an accounting start up there her that I mean what that would be right but technology startups oh my god they’re all over the place they’re crazy we’re any where the venture capitalist putting their money now and this is always very a very good metric by the way as to where the world’s going they’re putting it into social media mobility cloud computing that’s what they’re putting their money big bets so I’m talking about firms like kleiner perkins have you ever heard of kleiner perkins kleiner perkins caufield & byers it’s a little company that started Apple and Google and Dell and just about every technology company you can imagine right so climber I think put I don’t know how much money they were in some of these like Google and Facebook there was one of the venture funds I forget that put like about a million dollars in facebook and cashed out for like three billion not bad so it’s this is a different kind of field its high-energy it moves a lot of new things all the time and it’s fun it’s exciting it’s lots of good things to do any questions comments did I offend the accounts I didn’t mean to but I think that if I had to choose any questions no questions about all this great stuff yes okay it’s a great question because it really gets into a lot of things like the business models right so 15 years ago how many travel agencies were there a gazillion now how many of them hardly any technology disintermediated the entire industry it’s happening across lots of industries right so the question is what’s the limit I don’t know I mean take a look at an activity or a process or a product and service and decide if you had unlimited technology could you actually do that business develop that product provide that service and that’s where this is going so people are doing all the time they’re trying to figure out new ways I mean big companies used to spend 500 million dollars a fortune 1000 company would spend on average around five hundred million dollars on an ERP application that they would buy themselves they would host themselves right within their own data center that they would hire consultants to implement now you know if they spend about 50 right because they rent it so cloud

computing wasn’t even possible you realize it going over itself is a tremendous user of cloud computing that we used to be used to host all of our own email for example now it’s all backed by Google did you know that even though you have the OED you it’s google back we don’t do it on campus anymore you know blackboard that’s in the cloud we used to have it hosted here internally now it’s in the cloud okay all of our customer relationship management including our donor databases salesforce com in the cloud okay so we’re doing the same kind of thing that’s the trend but the real point of your question is what business models are out there that are in a sense vulnerable to were amenable to emerging technology the answer is sky’s the limit I mean we weren’t even thinking about these things years ago nobody was thinking about going orbits know with orbits didn’t exist go on expedia didn’t exist right and you had the normal how about buying cars I bought a car for my daughter on overstock.com a new car and had delivered to the house in 24 hours anybody can anybody can do that by the way there’s another question about that yes what’s your question with someone just stretching another question yes we’re in 30 action it’s all about the people i t’s all about the people right I t get it it’s all about the people yeah that’s my most recent book is all on social social media it just came out what’s the question what I mean by that is true of all businesses that if you’ve got bad people implementing good processes you’ll fail and that skills and competencies so if you talk to HR human resources they worry a lot about skills and competencies and the skills and competencies that you need to succeed in IT going forward what we talked about today five years from now it’ll be that list plus another list because it’s cumulative okay and that’s again I think the exciting aspect of this so if you may say oh my god I’m going to be working my whole life to learn new stuff right look at the alternative I’m going to be spending my whole life not learning anything new that’s pretty bad that’s horrible i think so yeah that’s that’s the point of that skills and competencies and that reinforces the point that we work in organizations there are processes but mostly the skills and competencies I mean if there’s one criticism that I get in a conversation like this it’s it’s this technology stuff is changing all the time and how do we stay current with this and the answer is you do have to read and think and talk to people and go to conferences and and you know take the courses and go back for more education and you have to do all of that where you do not have to do as much of that I want to be real fair here you have to do some of that in the other disciplines but not nearly as much because no faculty member would disagree with me about the pace of technology change versus the change in the other disciplines no one could argue that point and that again is good and it’s bad but if you want opportunities you don’t want to be bored you maybe you want to be an entrepreneur you want to do all that kind of stuff i T as a whole lot better than the other fields and that’s just a fact I don’t mind saying that on videotape other questions yes you will get an education at a point in time you’ll get an education at a point in time and that education will anticipate as best it can where technology will be two to three years from now no educational program can predict with certainty and specificity where technology will be in five to ten years not possible so you’ll get a great education you’ll get a good look trajectories two to three years point in time but beyond that no no one can do that that’s the whole point of you gotta stay with this stuff right great question yes that’s an interesting question because if you were to ask me as a practitioner what are the issues i would say that all of these new technologies and the way we think about the deployment of the technologies makes for a tremendous amount of volatility which makes it difficult sometimes to manage manage the technology application process in an optimal way so i mean companies for example are struggling with organizational models where’s the chapter 3 or chapter 4i forget talks about organizational structures talked about centralized and decentralized and federated what’s happening now is that because these technologies are so easily

accessible through the cloud or I can just buy iPads myself I’m a business unit I just go do it I don’t have to necessarily go through corporate IT because of that is what there’s a decentralization going on of IT that makes it more difficult to manage it and to optimize it so there’s a little bit of chaos I happen to think personally chaos is okay when I started my career I was one of those Nazi CIOs who would make sure that everything was locked down and that we would have standards and there would be no variations on that and that was the way people thought in the 20th century now my view is quite different now my view is emerging technologies you should pilot them you should try them out and as long as they don’t threaten your entire organization by you know having all kinds of problems with people hacking into databases or things of that nature they bring down the entire network then and if there should be criteria around that you should try this stuff out but there’s a lot of organizational volatility going on now there really is and companies are finding it difficult to kind of find the right organizational structure to exploit these new technologies that’s a good insects a good question yes well though we don’t have joy programs we don’t have joint programs with computer science or with computer engineering because the prerequisites and skill sets are quite different right right back to skills and competencies primarily has to do with the deep mathematical background that is required in in the engineering school that said there are opportunities for each to take courses from college to college request has to be made and we have in the past I’ve actually had joint programs we closed one it was a technology management program that was out of engineering and out of vs be so if you’re interested in that talk to your advisor and and your advisor will point you in the direction of trying to make that happen but remember there’s always a prerequisite structure so if you try to get into an advanced programming course in arts and sciences or a or a integrated circuit design course in engineering it’s going to be prerequisites that you probably can’t satisfy unless you want to invest in that in which case you can we typically don’t see that many joint majors in mis and computer science because the the the attitude is different yes yes and the mobility course right that bill wagner gives right absolutely right that’s like the first that’s it the first one right is that the first one we’ve had that has three I mean the first course that we’ve we have all three colleges together yeah this goes back to its all about the people but yeah you could you could do that and you just some of that yourself as well you can see it it’s the same set point I just made about skills and competencies and organizational chaos trying to get people in three colleges to agree to anything is difficult to be honest with you other questions comments insights curiosities about the field it’s an amazing field it is I have been in this field for a long time and I can’t believe the amount of change that’s occurring over the past five years right I mean it’s just amazing yes the expectation who has of this generation we expect you to be completely savvy technologically is that what you mean so your generation i think is coming in at a time where there’s all this movement and you’ve got this older generation that is implemented kind of traditional yeah and now to leave me you like we’re not sure how to take the next steps you guys are coming any part you know if not marred with any of this historical challenges and I think it’s just so exciting for you to go in and get why don’t you do it this way before going to do like you’ve never done it that way but you’re only looking at it from is always great we’re there other people have struggled here after year just to get to the point with the technology so fun for you and if you bring a fresh look here this your companies and they come to interview and what to hire they want your fresh you know innovative minds that loss no it’s really a great point because we did struggle as an industry to implement these big applications like an essay p or oracle

application and get all the data where we’d all talk to each other and companies built their own gigantic data centers where they would house the stuff themselves in my mind the biggest change is cloud computing the ability to actually get to these applications and the data and the formulas the algorithms right that enable you to perform the analyses I was talking about today now companies and business units within companies can do it themselves you don’t have to make the big investment or suffer through I mentioned to you that companies will spend they did spend up to five hundred million dollars that was an unusual number at all for a typical Sapa implementation what I didn’t tell you take them 5 years to do it as well so five years 500 million now it’s 18 months 12 months 50 million and that’s for global that’s the whole world right so the ratio of the return on the investment if you will has just changed so dramatically which means now we can think not so much about ecology what’s the next step to get this module implemented but rather how do we use this technology to grow our business how do we use this technology to improve customer service and that’s the leverage going forward and frankly frankly that’s what’s made mis / 80 more valuable not less so i’ll tell you why not so many years ago the premium was on people that could create technology so the highest paid people in the computer industry in the 1980s and 1990s were computer scientists programmers right and people who designed new hardware today the highest premium is now placed on those who know how to solve a business problem with technology had to apply the technology because its existence is taken as a given and the number of programmers when i was at cigna i was CTO at cigna we had 3400 IT professionals 3400 just IT right of the 3400 about 2,000 of them did development they were programmers today that number is 100 right so why is that because now people buy software off the shelf they rent it from the cloud they buy packaged applications people don’t do custom development anywhere near at the rate they used to do it but what their companies are interested in now is what do we do with this stuff social media social media listening you mean people are talking about us yes there are thousands of conversations about us every day well what are they saying that’s an application what are we going to do with that information when we learn what they’re saying well you can engage them you can go back right so children’s tylenol you know that story with Johnson and Johnson a disaster in social media right I mean there’s all kinds of affinity moms companies are the most scared of moms of any affinity group in social media because they’re active and they tell people in fact they did in this case not just don’t buy children’s tylenol they said don’t buy anything Johnson and Johnson makes we don’t trust the company and we’re not talking about 35 people saying this we’re talking about 75 million moms chanting in Facebook and Twitter these kinds of things back to engagement what did Johnson & Johnson do they had to get into that space and they did they started to react to them and talking to them in social media so the question what I mean who built the platforms who cares who cares about Facebook it’s their right companies have to figure out how they’re going to use it so now the premium is on how do we exploit this technology for business purposes that’s the real push going forward it’s much less about the creation of technology as it was 20 years ago it’s much more now about the application of technology so arguably mis / IT isn’t the best place it’s ever been yes it’s not crucial but I’ll tell you it’s it’s good to have enough background in it so that you understand you know what the technology itself can do as opposed to actually being able to do it yourself I would not say to someone who wants to specialize in the kinds of things I talked to today talked about today to go in now and learn how to do advanced programming I mean I would not suggest that but I would suggest understanding what a database is i would suggest understanding how databases work and how they can be used structured unstructured data to solve business problems I mean you can’t you keep unless you want to get three degrees right I mean you can’t do all of this so if your inclination is to apply technology to solve to solve business problems you’re in the right major with mis if you want to create technology brand new technology maybe the next generation mobile application right then you should be in computer science or computer engineering yes sure yes that it can

no question that’s always been the as I already suggested this is a dynamic field this is not a field that you can get your degree to the question that was asked before and then I’m fine now for the next 20 years that’s not the case here I’ll be lying to you if I said that it’s it’s that static it’s not will there be there for trauma that okay I all of a sudden I’m someone who works on on laptops and I do laptop support in a company or I develop applications if I’m creating technology for laptops or I’m trying to figure out the best way to optimize laptops for travel presentation whatever it may be right well laptops are kind of going away right we talked about Dell I mean laptops are going away in favor of these little things tablets right so that’s that’s what’s happening and yeah there’s displacement but that’s true of all industries is it not I’m if you look at agriculture the same exact thing happened when machinery took over a lot of people lost their jobs and they had to adapt to that probably not I I would grant you that probably not agree which means that if you’re going to be in this field you can’t just rest on your laurels you have to stay current you’re right but staying current is exciting and fun and the amount of money you make keeps going on not down we don’t talk 330 you know any more comments questions insights if I sold you to no brainer decision I’m serious you