At FITT’s upcoming conference, Your Future in Global Markets, we’ll be exploring the key issues international businesses will face in tomorrow’s global marketplace. It goes without saying that innovations in technology will be driving that future.
So, ahead of the deep dives we’ll be taking into all aspects of preparing a global business to be a top performer into the future, we wanted to get a sneak peek into how today’s tech innovations are already changing the way multinational businesses are operating, planning and even staffing. Here’s what the experts had to say in this month’s #TradeElite Twitter chat.
Moderator:
Kelly Freeman from ICECORP Logistics Inc. (@Icecorplog), based out of Toronto, Ontario.
Panelists:
Nicole Verkindt (@Offsetmarket) – Founder, OMX, “Dragon”, Next Gen Den, Panellist, CBC News, The Exchange based out of Toronto, Ontario.
Amy Karam (@AmyKaram) – Author, speaker, instructor and global expansion and competitive strategy consultant based out of Ottawa, Ontario.
Gustavo Zentner, CITP|FIBP (@GZInterpoc) – President of InterPOC – International Point of Commerce and Trade Champion for Canadian Manufacturers & Exporters, based in Winnipeg, Manitoba.
Paula Greene, CITP|FIBP (@PaulaIntlMkt) – President & CEO at BEYOND Ventures Group Inc. DBA BEYOND, based out of Halifax, Nova Scotia.
Omar Allam (@Omar_Allam_) – Founder and CEO of Allam Advisory Group based out of Ottawa, Ontario.
1. What are the biggest tech innovations driving global business today?
A1: Procure-to-pay and supplier engagement solutions for sellers & SMBs worldwide #TradeElite @FITTNews #globalbiz #innovation
— Omar Allam (@Omar_Allam_) September 14, 2017
A1. 1/2 – There are many; it is fundamental for companies to know what they look for before they start using tools.
— Gustavo Zentner (@GZinterpoc) September 14, 2017
A1. 2/2 – Automated online filing systems for custom & border crossing; live platforms with border patrols and customs reports are usefull
— Gustavo Zentner (@GZinterpoc) September 14, 2017
Automation, every industry is starting to be disrupted with this innovation #TradeElite @FITTNews #globalbiz #innovation
— Sarah Barnes (@sarahcaroline88) September 14, 2017
Q1: in mobile handset space where innovation has built on past successes like #android and #appleiphone platforms by Chinese company #Xiaomi https://t.co/kUlRIKkZuK
— Amy Karam (@AmyKaram) September 14, 2017
A1. Transportation – New Silk Road aka #OBOR utilizing rail, HYPERLOOP and Drones change the game #TradeElite
— audrey ross (@tresAudrey) September 14, 2017
Big tech innovations driving global business: big data, B2B procurement platforms, #IOT #TradeElite
— Nicole Verkindt (@nicoleverkindt) September 14, 2017
2. Where do you see the biggest impact to your business?
A2. For us creating experiences helps drive sales, even in B2B. 3D printing has been HUGE for us with sampling. #TradeElite
— audrey ross (@tresAudrey) September 14, 2017
A2: Biggest impact remote workforces, decentralized company structure, meaning less commercial real estate…#tradeelite @tresaudrey
— Paula (Lunn) Greene (@PaulaIntlMkt) September 14, 2017
A2 With transition to remote workforce, adv communication tools means competing globally, have to stay competitive #tradeelite
— Paula (Lunn) Greene (@PaulaIntlMkt) September 14, 2017
A2. Video, improved photo quality, anything 3D or 360 helps our customers see the final product b4 we’ve produced #TradeElite
— audrey ross (@tresAudrey) September 14, 2017
A2 Potential to reach more entrepreneurs around world with less travel. Less worrying abt how to be in many places at same time #tradeelite
— Sara Haq (@HaqCast) September 14, 2017
#TradeElite A2) Biggest trends I saw on @cbcdragon #NextGenDen was online marketplaces, “Ubers of ___”, #IOT and other consumer products.
— Nicole Verkindt (@nicoleverkindt) September 14, 2017
3. Is technological change creating a new global economy?
A3 – Yes – absolutely. Crypto currencies are a perfect example. New platforms and basic forms of trade are making us more connected.
— Gustavo Zentner (@GZinterpoc) September 14, 2017
A3: Tech change is just evolving w. the global economy, and evolving with the progression of needs, behavior and capabilities #tradeelite https://t.co/7wlJ7PAW9s
— Amy Karam (@AmyKaram) September 14, 2017
A3 Yes, in virtually every sector, with remote work and transactions digitally, business knows no borders…& tax issues #TradeElite
— Paula (Lunn) Greene (@PaulaIntlMkt) September 14, 2017
#TradeElite A3)Yes, #tech has created an entire new digital,
networked #economy -will require new #leadership styles,collaboration, openness— Nicole Verkindt (@nicoleverkindt) September 14, 2017
A3. Absolutely. You can pay with your watch! Your WATCH. It’s a totally different economy. #TradeElite
— audrey ross (@tresAudrey) September 14, 2017
4. AI is a hot topic – how do you see that affecting business in the future?
A4: on a commerce platform #AI can learn from user interactions, improve business processes & offer contextual info instantly. #tradeelite
— Omar Allam (@Omar_Allam_) September 14, 2017
A4. What AI will have trouble doing is any type of creative thinking. That’s the future of our workforce. #TradeElite
— Paula (Lunn) Greene (@PaulaIntlMkt) September 14, 2017
A4) #AI will impact @offsetmarket allowing us to learn #procurement behaviour, make predictions + serve our users better #support #chatbots
— Nicole Verkindt (@nicoleverkindt) September 14, 2017
Look out for role of AI in corporate boards. Some firms already deploying this resource for better decision making #TradeElite
— Marcos Vaena (@MarcosVaena) September 14, 2017
A4: AI will mean business people will need to become smarter in different ways in order to stay relevant and add value #training #tradeelite https://t.co/B6XD3fyWra
— Amy Karam (@AmyKaram) September 14, 2017
A4. I think it brings up new governance challenges but also opens the door to new service delivery & sales pitch channels #TradeElite
— Clarecia Christe?? (@ClareciaChriste) September 14, 2017
5. What are 3 ways tech will disrupt business in the future?
A5 automation, robotics and operational efficiency, decisions made with more data and less manual labor #TradeElite
— Sarah Barnes (@sarahcaroline88) September 14, 2017
A5) #Tech will change how we consume, so companies have to change how they sell #TradeElite
— Nicole Verkindt (@nicoleverkindt) September 14, 2017
@FITTNews the change of technology to trade “everyone will sell something to anyone.” Trade moves from big companies to small personalities.
— Peter Kucherepa (@Kucherepa) September 14, 2017
The world is changing at an unheard of pace… watch, do research, be prepared and open. i.e. don’t put your head in the sand!!! #TradeElite
— Paula (Lunn) Greene (@PaulaIntlMkt) September 14, 2017
A5) #Tech will change us on personal +social level, providing more open access, less barriers, more diversity, more merit based #TradeElite
— Nicole Verkindt (@nicoleverkindt) September 14, 2017
A5: tech leveling the playing field for small businesses and empowering both producers and consumers, making global trade more inclusive.
— Marcos Vaena (@MarcosVaena) September 14, 2017
6. What is key to staying ahead of disruption?
A6. Learning new stuff. Being open to different ways to accomplish goals & get stuff done. #TradeElite
— audrey ross (@tresAudrey) September 14, 2017
A6: BE the disruptor in order to stay ahead of disruption 🙂 #tradeelite think and act 3 steps ahead of where the market is #tradeelite https://t.co/6xq6INb7OH
— Amy Karam (@AmyKaram) September 14, 2017
A6) Be optimistic, be open, collaborate, iterate, small steps every day. And it’s all in the people around you #TradeElite
— Nicole Verkindt (@nicoleverkindt) September 14, 2017
A6-challenge your thinking and reporting structures; hire professionals; don’t be afraid of making mistakes when trying new processes.
— Gustavo Zentner (@GZinterpoc) September 14, 2017
7. How can global business use tech in their strategy to stay competitive and maintain growth?
A7. Every experience is custom tailored,individual like in the old days of business, with tech we can do this at scale. #TradeElite
— Paula (Lunn) Greene (@PaulaIntlMkt) September 14, 2017
A7. integrate tech in the corporate norms, operations and human capital. Be innovative and use design thinking for strat plans #TradeElite
— Clarecia Christe?? (@ClareciaChriste) September 14, 2017
A7 – FAIL FORWARD
(encourage anyone in the org to point out mistakes and suggest corrective steps)— Gustavo Zentner (@GZinterpoc) September 14, 2017
A7 figure out a way to get on top of the data you need, assess risk and be open to new tech #TradeElite
— Sarah Barnes (@sarahcaroline88) September 14, 2017
A7: use #tech to increase sales and reduce costs #TradeElite – at the end of the day, being competitive is that formula
— Nicole Verkindt (@nicoleverkindt) September 14, 2017
A7. Where possible, use automation & digital tools so your team can do creative / service work, not admin. #TradeElite
— audrey ross (@tresAudrey) September 14, 2017
A7: leverage it 2 keep closer connection 2 yr clients. Tech enables firms 2 have a pulse on the market and foresee trends to guide decisions
— Marcos Vaena (@MarcosVaena) September 14, 2017
8. Are there any emerging innovations that you’ve seen that you think will make an impact in the future?
A8. Yes, in not only how we are doing business, but what we are doing in business #cleantech #TradeElite
— Paula (Lunn) Greene (@PaulaIntlMkt) September 14, 2017
A8. Anything that incorporates tech to correct & protect the environment. Waste is an issue in a lot of industries. #TradeElite
— audrey ross (@tresAudrey) September 14, 2017
A8) just seeing start of #AI, #digitalmesh,big data etc, BUT I am most excited about is leverage into B2B, traditional sectors #TradeElite
— Nicole Verkindt (@nicoleverkindt) September 14, 2017
A8: more important than specific innovation is the shift in market behavior. Tech enables greater consumer empowerment and transparency
— Marcos Vaena (@MarcosVaena) September 14, 2017
Read the rest of the chat and follow future discussions by following the #TradeElite hashtag.
It’s not too late to register for Your Future in Global Markets 2017, so act now to sign up see all of our panelists live, along with our other great speakers, events and more!
And stay tuned for the next #TradeElite chat, coming up Thursday, October 12 at 2:30-3:30PM ET.
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