CA World began with a different angle which saw CEO of CA Technologies, Mike Gregoire predict that successful start-ups and businesses of the future will put software into all business ideas and following ‘Built-to-change’ strategy.
Firms are becoming software-based, said Gregoire who said today we stand at the centre of a global business revolution with the fourth industrial revolution being “driven by software companies.”
American inventor and businessman, Thomas Edison was cited as an example of success. Today’s culture change is based on the concept that innovation was previously reserved for the funded few and that this is no longer the case.
Gregoire offered the example of software leveling the playing field for retail investors. He said: “Algorithm-based portfolio management has really leveled the playing field for smaller investors. Automated stock trading software is now being used at over 80 percent of trading markets. It’s all about speed. Human brain processing takes 200 to 300 milliseconds, automated trading software, one billionth to the second. Advantage, software.”
But with the change in culture, and the way various businesses look to digital innovation as a way to strive, previous inventors like Edison may not necessarily be able to succeed.
Comparing Edison and energy firm Tesla, Gregoire said: “That’s the world we live in today. Powerful tools are in abundance and the information given to Edison is now available to everyone. Which means everyone can come up with the next game-changing idea.”
“Today, you don’t need to be an Edison, you need a team of Edison’s. Collaborating, innovating, building ideas and continuously improving. If it was true then, it’s true today, disruptions are coming to every industry.”
The shift is from building fixed models where businesses strive to build company to last, organised with clear functions.
But today’s digital age businesses focus on moving forward and recognise the importance of embedded software and powerful tools to deliver efficient customer experience.
“…If you want to build a company that’s built to last, you better build it to change. A company that understand the value of risk taking, a company that seeks death changes instead of in correctable improvements.”