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Handling Future Digital Technology Impact with Michael Baron, CEO & Director of Baron Consulting Group

Adapting, adopting and shifting methods, models and processes are unavoidable as technology develops and advances. Manufacturing robots, artificial intelligence and machine learning are just a few examples of rapidly evolving new technologies.

These technologies have the potential to save costs while enhancing output and quality. They have a vast scope and the potential to revolutionise existing enterprises and personal lives. They can make people’s lives easier while also requiring less human engagement.

Companies have realised that such cutting-edge solutions can take over specific roles and increase operational accuracy, production and efficiency. Automation and digital improvements have improved analytical, technical, and management capacities. Even today, many large technology organisations have reached a broad economic scale without a large staff base.

As a result, the workforce and skillset needs will change. Organisations require fewer people in roles managed by tech creating a greater need for employees with specific abilities.

The impact and opportunities

In an exclusive interview with Mohit Sagar, CEO and Editor-in-Chief OpenGov Asia, Michael Baron, CEO & Director ​of Baron Consulting Group, Singapore, believes technology changes will be positive for most people. But technological advancement may disappoint others because they may be concerned that technologies may replace their jobs.

“There will be proactive people and that people who are reactive. It is important to understand that further development is essential for people, companies and governments, to keep the nations and businesses competitive. So, I think the future will positively impact those who want to embrace the technologies. We need to focus on development rather than on keeping everyone happy,” explains Michael.

People can embrace the new technology with better utilisation. As an example, he shared how people will have gotten used to a pass-card ticketing system. Some time ago, the technology was introduced in several countries in Southeast Asia and Australia. People had to learn to adapt to the new ticketing system if they wanted to use the public transport system. While initially challenging for many, people have gotten used to it and, indeed, prefer it.

Baron urges people to view new technology as a unique opportunity. Change happens all the time in almost all spheres – sometimes rapidly and other times gradually. Businesses need to adjust their service offerings based on technological developments. It may require performing specific technology-related tasks for the companies which are no longer relevant.

“I recall a very old Chinese saying that every crisis is an opportunity. You can say that I lost my job and I lost my business proposition many times and I don’t see it as drama. I see it as an opportunity. See it as an interesting experience, a natural transformation,” Baron offers.

From a personal perspective, the analytics engine, for instance, has helped him to become a better chess player. The tools can help him to perform better in online chess games by analysing his game, understanding his mistakes and what opportunities he misses and suggesting what he should learn and how he can do better next time.

The same idea goes for organisations or governments. The private and public sectors can do better through digital transformation and utilise technological advancement to maintain their position in the marketplace. It’s not a matter of enjoying it or not embracing the norm, it’s a matter of survival. It’s a matter of remaining relevant, of addressing the challenges by delivering better.

According to Baron, what is happening now is that traditional players are losing market share very fast and possibly don’t even understand the market anymore. So, it is vital to reshape themselves, adopt new goals and embrace new technology.

As a big fan of predictive analytics, he believes that analytics can break into the past to build a better future. Citing a Greek philosopher that said history repeats itself implies this results in variations in a range of operations. So predictive analytics will play a role in calculating the future based on what happened in the past and emulate it for future problems.

In terms of challenges, Baron believes that security, privacy and controls will still be a big problem in the future. Ethical factors are also emerging around the globe today. Organisations with international presence have to comply with all the multiple countries’ respective laws and regulations regarding data ownership and management.

Sooner or later, organisations need to ensure compliance. Even though technology tends to develop faster than legal frameworks, ultimately all countries create regulatory frameworks.

Cultural spirit and political drive

Baron is convinced that both the private and public sectors can drive the technology improvements. Whether it is public or private-driven innovation, it is essential to keep forward-facing if an organisation or a nation intends to survive.

He acknowledges several governments’ efforts to stay ahead of the digital transformation journey, such as Japan, China and Singapore. These countries demonstrate how they can be leaders through cultural spirit and technology utilisation rather than only depending on their natural resources.

After World War Two, Japan’s economy was in a very difficult situation, dealing with the devastation and a lack of natural resources. They faced these challenges head-on by utilising technology and aggressively pursuing digital solutions. Eventually, they not only became a leading economy but were a global benchmark for development.

China, too, has a robust digital and technology vision for the country and has seen remarkable success. From a largely agrarian/rural society, it is now the second-largest economy worldwide. It is a great example of how political will plays a significant role in driving technology-enabled progress.

As for Singapore, the country has become a leading exponent of technology and digital innovation. Compensating for a lack of resources with heavy investment in technological development, innovation and education. They have harnessed their multicultural heritage and been wise in how they use their existing resources. Infrastructure, policies and pathways have made the nation a preferred destination for investment and international tech workers.

LKYGBPC entrepreneurial pathway

Technology development has a massive impact on future employment, hence the entrepreneurial path is one of the solutions to answering the challenge. As a member of the International Judging Panel (IJP) for the Lee Kuan Yew Global Business Plan Competition (LKYGBPC), Baron encourages people not just to embrace the ideas of others but to work with their ideas. He believes that everybody has something to bring to the table.

Teaching about technologies and related subjects, helping people acquire the necessary skills and traits, and providing the right environment is essential to foster entrepreneurship. But a little more is needed to create a culture of entrepreneurship.

He considers the international competition a fantastic way to bring a lot of global talent together to actualize their dream, to be inspired, express their concerns,and to find solutions. The competition creates the right environment to put ideas together and tailor them to suit specific marketplaces.

The competition is a chance for people with ideas to organise themselves, present their ideas to the big wide world and have a shot at being successful. To Baron, there should be more calls for international competitions they allow ideas to travel beyond the borders to create a better future for the world.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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