how do we innovate in industries that aren’t known for innovation energy water
aren’t known for innovation energy water
aren’t known for innovation energy water waste transportation these industries
waste transportation these industries
waste transportation these industries are the critical backbone of our economy
are the critical backbone of our economy
are the critical backbone of our economy and they need modernization but because
and they need modernization but because
and they need modernization but because failure is catastrophic these are by
failure is catastrophic these are by
failure is catastrophic these are by design change resistant industries
design change resistant industries
design change resistant industries making it incredibly difficult to
making it incredibly difficult to
making it incredibly difficult to introduce new technologies into them
introduce new technologies into them
introduce new technologies into them also when we make infrastructure
also when we make infrastructure
also when we make infrastructure investments these investments tend to
investments these investments tend to
investments these investments tend to favor status quo rather than upgrading
favor status quo rather than upgrading
favor status quo rather than upgrading capabilities
I’ve been working in this sector for
I’ve been working in this sector for about 15 years in applied Rd to discover
about 15 years in applied Rd to discover
about 15 years in applied Rd to discover new technologies for the utilities for
new technologies for the utilities for
new technologies for the utilities for major manufacturers and in recent years
major manufacturers and in recent years
major manufacturers and in recent years I’ve been working on with startups on
I’ve been working on with startups on
I’ve been working on with startups on machine learning tools for risk-averse
machine learning tools for risk-averse
machine learning tools for risk-averse industries and I can tell you that
industries and I can tell you that
industries and I can tell you that although the infrastructure challenges
although the infrastructure challenges
although the infrastructure challenges seem daunting the tools we have to
seem daunting the tools we have to
seem daunting the tools we have to address them have never been better
address them have never been better
address them have never been better or more sophisticated for example you
or more sophisticated for example you
or more sophisticated for example you can’t go to a TED talk anymore without
can’t go to a TED talk anymore without
can’t go to a TED talk anymore without hearing about drones we’re using drones
hearing about drones we’re using drones
hearing about drones we’re using drones in the utilities space to look at power
in the utilities space to look at power
in the utilities space to look at power wires to monitor them we’re using them
wires to monitor them we’re using them
wires to monitor them we’re using them in the construction industry to watch
in the construction industry to watch
in the construction industry to watch building sites and monitor them but
building sites and monitor them but
building sites and monitor them but that’s only half the story because these
that’s only half the story because these
that’s only half the story because these drones are now closing the feedback loop
drones are now closing the feedback loop
drones are now closing the feedback loop and in enabling other technologies in
and in enabling other technologies in
and in enabling other technologies in those sectors to be more effective
those sectors to be more effective
those sectors to be more effective ultimately in the construction sector we
ultimately in the construction sector we
ultimately in the construction sector we can expect the cut the cost of
can expect the cut the cost of
can expect the cut the cost of construction to drop maybe by half and
construction to drop maybe by half and
construction to drop maybe by half and the speed at which we can build
the speed at which we can build
the speed at which we can build buildings to double through to
buildings to double through to
buildings to double through to technologies like these then we have
technologies like these then we have
technologies like these then we have whoops data transparency in the utility
whoops data transparency in the utility
whoops data transparency in the utility sector slowly but surely lean utilities
sector slowly but surely lean utilities
sector slowly but surely lean utilities are opening usage data to innovators
are opening usage data to innovators
are opening usage data to innovators what does this mean it means that
what does this mean it means that
what does this mean it means that early-stage companies can now design
early-stage companies can now design
early-stage companies can now design technologies that will stabilize the
technologies that will stabilize the
technologies that will stabilize the grid or energy efficiency companies
grid or energy efficiency companies
grid or energy efficiency companies service providers they can go out and I
service providers they can go out and I
service providers they can go out and I more easily identify waste reduce that
more easily identify waste reduce that
more easily identify waste reduce that waste save money in the process and make
waste save money in the process and make
waste save money in the process and make a better grid for everyone that’s sorry
advanced modeling and AI simulations
advanced modeling and AI simulations these used to be the purview of the
these used to be the purview of the
these used to be the purview of the National Lab systems today with the drop
National Lab systems today with the drop
National Lab systems today with the drop in compute power rather in the cost of
in compute power rather in the cost of
in compute power rather in the cost of compute we can apply these advanced
compute we can apply these advanced
compute we can apply these advanced technologies to innovate to create new
technologies to innovate to create new
technologies to innovate to create new manufacturing processes that use less
manufacturing processes that use less
manufacturing processes that use less energy that save money and make better
energy that save money and make better
energy that save money and make better overall products and it can be used we
overall products and it can be used we
overall products and it can be used we can use making new materials out of them
can use making new materials out of them
can use making new materials out of them as well these are very powerful tools so
as well these are very powerful tools so
as well these are very powerful tools so in the these technologies we see are
in the these technologies we see are
in the these technologies we see are being adopted by the incumbent
being adopted by the incumbent
being adopted by the incumbent industries in the utilities we’re seeing
industries in the utilities we’re seeing
industries in the utilities we’re seeing solar and wind and storage they’re
solar and wind and storage they’re
solar and wind and storage they’re coming online they’re becoming parts of
coming online they’re becoming parts of
coming online they’re becoming parts of these of the utilities business models
these of the utilities business models
these of the utilities business models and they’re generating new revenue
and they’re generating new revenue
and they’re generating new revenue opportunities and that’s great but
opportunities and that’s great but
opportunities and that’s great but what’s even more great is that within 20
what’s even more great is that within 20
what’s even more great is that within 20 or 30 years these will probably be their
or 30 years these will probably be their
or 30 years these will probably be their core revenue drivers and that’s critical
core revenue drivers and that’s critical
core revenue drivers and that’s critical that we keep innovating so like I was
that we keep innovating so like I was
that we keep innovating so like I was mentioning before technology is required
mentioning before technology is required
mentioning before technology is required in fact it’s essential but it is
in fact it’s essential but it is
in fact it’s essential but it is certainly not sufficient to modernize
certainly not sufficient to modernize
certainly not sufficient to modernize these industries what we absolutely need
these industries what we absolutely need
these industries what we absolutely need to do is partner these technologies with
to do is partner these technologies with
to do is partner these technologies with best practices in business to get them
best practices in business to get them
best practices in business to get them adopted into the industry more easily
adopted into the industry more easily
adopted into the industry more easily what I’ve seen over the years are a few
what I’ve seen over the years are a few
what I’ve seen over the years are a few techniques that I find very promising
techniques that I find very promising
techniques that I find very promising they’re being used elsewhere we should
they’re being used elsewhere we should
they’re being used elsewhere we should be using them more often for example we
be using them more often for example we
be using them more often for example we need to think about colocation it seems
need to think about colocation it seems
need to think about colocation it seems simple you have early-stage income
simple you have early-stage income
simple you have early-stage income early-stage companies working with
early-stage companies working with
early-stage companies working with incumbents they can share domain
incumbents they can share domain
incumbents they can share domain expertise they can share knowledge they
expertise they can share knowledge they
expertise they can share knowledge they can share lab equipment this is critical
can share lab equipment this is critical
can share lab equipment this is critical in allowing new technologies to be more
in allowing new technologies to be more
in allowing new technologies to be more rapidly validated and get to the
rapidly validated and get to the
rapidly validated and get to the market put more quickly and we can
market put more quickly and we can
market put more quickly and we can enable this by creating easier legal
enable this by creating easier legal
enable this by creating easier legal structures to do so another interesting
structures to do so another interesting
structures to do so another interesting idea is market based technology driven
idea is market based technology driven
idea is market based technology driven innovation for example instead of taking
innovation for example instead of taking
innovation for example instead of taking a technology push approach to things
a technology push approach to things
a technology push approach to things taking a technology and pushing it out
taking a technology and pushing it out
taking a technology and pushing it out what if we started by developing a
what if we started by developing a
what if we started by developing a business first thinking about if I had a
business first thinking about if I had a
business first thinking about if I had a technology that worked like this ABC
technology that worked like this ABC
technology that worked like this ABC that I could do X Y Z once you establish
that I could do X Y Z once you establish
that I could do X Y Z once you establish there is this business case you can
there is this business case you can
there is this business case you can inspire confidence you can minimize that
inspire confidence you can minimize that
inspire confidence you can minimize that business risk that incumbents face by
business risk that incumbents face by
business risk that incumbents face by getting into the industry and then you
getting into the industry and then you
getting into the industry and then you give then you backtrack then you look at
give then you backtrack then you look at
give then you backtrack then you look at how do I make that technology happen
how do I make that technology happen
how do I make that technology happen guess what I am now able to specify very
guess what I am now able to specify very
guess what I am now able to specify very precisely exactly what kind of widget I
precisely exactly what kind of widget I
precisely exactly what kind of widget I need and exactly what it has to be able
need and exactly what it has to be able
need and exactly what it has to be able to do that’s important too because when
to do that’s important too because when
to do that’s important too because when I’m able to do that I’m able to reach
I’m able to do that I’m able to reach
I’m able to do that I’m able to reach out to the innovation ecosystem to the
out to the innovation ecosystem to the
out to the innovation ecosystem to the entrepreneurs to companies around the
entrepreneurs to companies around the
entrepreneurs to companies around the world and tell them I want something
world and tell them I want something
world and tell them I want something that does a B and C and I can do
that does a B and C and I can do
that does a B and C and I can do something like a reverse Kickstarter I
something like a reverse Kickstarter I
something like a reverse Kickstarter I can offer you a contingent purchase
can offer you a contingent purchase
can offer you a contingent purchase purchase offer so meaning the winner of
purchase offer so meaning the winner of
purchase offer so meaning the winner of my competition a startup or whoever
my competition a startup or whoever
my competition a startup or whoever would win a contract that says I will
would win a contract that says I will
would win a contract that says I will buy 20 million units from you at a
buy 20 million units from you at a
buy 20 million units from you at a certain price if you can do this and
certain price if you can do this and
certain price if you can do this and that really is amazing because it helps
that really is amazing because it helps
that really is amazing because it helps get startups or innovators to be working
get startups or innovators to be working
get startups or innovators to be working on problems to solve really pressing
on problems to solve really pressing
on problems to solve really pressing industry problems today it also provides
industry problems today it also provides
industry problems today it also provides market signals so that VCS come in and
market signals so that VCS come in and
market signals so that VCS come in and fund those startups because they see a
fund those startups because they see a
fund those startups because they see a market for the products the startups
market for the products the startups
market for the products the startups have the stakes have never been higher
have the stakes have never been higher
have the stakes have never been higher about 40% of the American GDP is in
about 40% of the American GDP is in
about 40% of the American GDP is in these infrastructure industries and they
these infrastructure industries and they
these infrastructure industries and they need to be updated but there is a huge
need to be updated but there is a huge
need to be updated but there is a huge opportunity here because we can take
opportunity here because we can take
opportunity here because we can take these legacy sectors and turn them into
these legacy sectors and turn them into
these legacy sectors and turn them into growth sectors driving the American
growth sectors driving the American
growth sectors driving the American economy
economy
economy and ultimately creating better
and ultimately creating better
and ultimately creating better infrastructure overall and better
infrastructure overall and better
infrastructure overall and better infrastructure is better for everybody
infrastructure is better for everybody
infrastructure is better for everybody thank you very much
”
Be First to Comment