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Harvard Tech Conference| Snapshot & Observations

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In this blog, I’ve tried to capture some of my notes and observations to share with anyone that wasn’t able to attend the @HBS #TechClub Annual Tech conference or the individual sessions.   It’s also an attempt to share some of this fabulous content with a wider audience, acknowledge the organizers, and THANK the speakers for sharing their time and expertise.   The full article is posted below.

The State of AI | Generating Value, Impact, and an evolving Playbook

Knowledge if truly power whether it’s you and I being better informed or AI getting smarter as we feed it better and better data.  In fact, I felt so much better about how we can embrace this new era after the incredibly informative presentations. 

For most mortals, AI is an intimidating concept, so for those of us who are privileged to be exposed to some of its potential impact, its incumbent upon us to help share the learning and if in a position to do so, help “shape” the future. Share on X

The opening keynote at the HBS Tech Conference, Rodney Zemmel of McKinsey, explained the transformation from Analytical to Generative AI and shared research on what was really making an impact or contributing to value creation.   Speed and cost – attributable to both hardware and software advances are at the heart of AI being applied across many dimensions of business.   AI has changed so much that we even learned that the old word doesn’t fit it anymore and that Generative AI is a “retronym” to characterize where we are today.

As the chart clearly shows, Customer Engagement, Creative Content, Coding, and “Concision” (Concise + Precision) are among the most prolific applications.  Companies surveyed in the analysis are trying to achieve 20% cost savings and 30% revenue goals. But on an informal level, when he met with a few hundred executive teams to see how they are REALLY using AI day-to-day, there’s more experimentation with personal uses such as travel planning, birthday, and retirement poems.  Nonetheless, fascinating research is taking place for interactions between patients and doctors – where a patient could clearly differentiate the chat bot from the doctor, but still preferred the chat bot for its breadth of knowledge and empathy.  This certainly caused a ripple in the audience!

Much of the next phase will require retooling of the business.  He covers much of the research in his book, Rewired.  But some of my key takeaways were:

  • Leveraging the combined data sources – public and proprietary is where the true power of AI takes place – to create more credible expertise

There are three groups of adopters – Taker, Maker, and Shaper. Most companies are still “taking” but true competitive advantage will come in shaping the future.   Making can be expensive as it always is to be the early leader.

  • The playbook has some clear guidelines that will make or break success. These include starting at the top and working all the way through the organization for commitment, having clear financial targets, the appropriate and engaged talent pool, an agile (or equivalent) operating model, not to over “technologize” the implementation – focus on the key areas that need it; and data humility (good, trustworthy, ethical data).

Key Players in AI Infrastructure| Spotlight on NVIDIA – Beyond Games

NVIDIA SVP of Enterprise Business, Shanker Trivedi used his time in the spotlight to enhance our understanding of the NVDIA story.   Described as an accelerate company platform – NVDIA is a full stack offering of hardware and software that makes developers more efficient.  Developers are the main focus and “go to market” is accomplished through a vast network of partners.

Although its roots were in gaming, gaming gave the company the tools and understanding needed to go deep into other verticals – emphasizing that “acceleration is domain-specific.”  NVDIA uses its unique combination of tools to attack killer workloads.   In terms of AI, it can be thought of as an operating system for AI.   The ensuing panel of Ampere, Memryx, and Interl emphasized that GenAI requires a robust AI infrastructure and one of the great outcomes of this computing environment is the time to market (e.g. ChatGBT was just 14 months out of the lab) and the ability to simulate. Simulating can provide significant savings and efficiencies down the line – especially in areas like manufacturing or plant design.

Panels: Health Tech and Bio Tech

 

Life Sciences and Health AI| Really Good Stuff

The Health and Bio tech panel was wonderfully diverse offering perspectives from the startups, investors, and the support team – in this case a Law Firm.  All the companies had an element of AI in their offerings – AI for dentistry – Videahealth; AI for immunotherapy Noetik, AI for health using biosensors (NIX), and AI for home health care – Vaxess.  Among the key topics of discussion were the types of expertise needed in the growing AI field.  The obvious skill set is data science, but in addition to the technical areas – it’s equally important to “be a dreamer” and be able to ask the right questions.  Just having the data truly isn’t enough.  Knowing how to query the data is critical. In the case of Noetik, data is gathered from tumors to infer properties.   The tasks that are being undertaken by AI, in this case, are far too difficult for humans.  That is where the AI is adding the most value.

In the case of Videahealth, the applications help the dentist and patient decide what will happen if you don’t do something (e.g.fill the cavity, add the crown, etc.).  The cumulative data helps predict future results.   Ideally, the combination of the large data sets and the individual’s history will create the best decision-making data set.  In other words, taking personalized database, but use in a longitudinal fashion.

Investment strategy was another track of the discussion.  Meredith went down the venture path citing that as a direct-to-consumer, it made the most sense.  She also rode the wave of sports tech.  Now that some of that wave has diminished, she is looking more to high-net-worth individuals with ties to her customer base – e.g. sports teams like the Celtics, Texas Rangers, etc.   Those with a personal passion for understanding health through “sweat” are her best advocates.   Florian was cautious on the VC investment direction IF one believes that VC’s can provide all the value added (beyond the actual dollars) that one assumes they will. 

The final discussion focused on distribution and adoption.   The point was made that one of the key values of AI is the ability to simulate before committing to full coding of a product.   This is key for cost savings and also for understanding end user impact.  In the case of therapeutics and all the required documentation to conduct a trial, AI could accelerate clinical trials.   In the big picture, this helps ease the tension between technology push and market pull.

Climate Tech and Tough Tech Panel:

Tackling the Big Issues| A long term view

The Climate and Tough Tech panel was eye opening.  The focus of this area will have a direct impact on the planet and the challenges are unique in each part of the sector.   The “tough” problems in this sector are depletion of natural resources and finding more economical ways to deliver energy in a climate friendly manner.  Following a step-by-step path, Electric Hydrogen’s head of Corporate Development, Supratim Das explained how they were the first company to bring down the megawatt costs – one of the barriers to hydrogen as an energy source.  Even so, the profitability would not be possible without tax credits.

Melissa Fensterstock, from Material Impact shared their big picture thinking around what will drive the next revolution in human and planetary issues – Space Tech, Food Tech, and Water were among the innovative areas being explored. Anything driven by Material Science were among their focal points as investors.  They focus on solving problems but many of the solutions in climate tech, for example face scaling challenges.   They also require many outside influencers – government and broader support to be successful in many cases.

Each investor was asked to comment on the tough tech spaces that need more attention.  Manufacturing technology, battery and solid state were among those that need innovation and investment.  For example, looking beyond oil and water emulsion in manufacturing. FedEx discussed robotics and the importance of robots needing a “sense of touch” for the next phase. To do so requires convergence of different technologies.   All in all, this group of investors and innovators are taking on some of the biggest challenges we face as human beings.

Wisdom for Women in Tech| Make your presence known

Speakers:

The Women in Tech panel was focused on the how to stay ahead of the career game.  The expert panel shared their insight on the importance of being active in learning, coaching, and thought leadership, and staying on top of trends.  Being an “information carnivore” came up as a recommendation! 

In terms of leadership, one line of advice revolved around the importance of sponsorship and a personal board of directors.  Another point of view was offered by Kathy Pham who said that all her roles were “made up” and effectively being a pioneer gave her opportunity.

Specific advice was offered by Shailaja about being heard and taking your seat at the table.  “Don’t cede it” once you get there.  If you are invited to a meeting, it’s because you have a valued opinion.  When things don’t go your way, handle rejection well.

And finally, the point was made to stay health and “take care of yourself” because you need your strength.

VC Panel:

Inside the VC World| Career Competencies

For the audience, this session was a very real breakdown of what it takes to pursue a career in venture capital.  It was a frank and very useful discussion.  The panel was diverse and the major takeaway was for anyone considering a career track in venture to carefully consider the investment theses and style of the fund – multi-stage, pre-revenue, etc. Each was very specific about the stage of companies, percentage of controlling interest, and sectors of investment.  A second major point was the type of experience valued in the funds.   Clearly, operating experience is at the very top of the list but not a deal-breaker if you are bringing other key areas of expertise to the table.   Analysis, strategy, professional development, product management, and having a broad and deep network are also key skills.

Rob Go from NEXTVIEW made the point that it is possible to build an entire career in venture by apprenticing with the more senior team members as a lot of the decisions are made by looking at patterns over time.    He made the point that VC is no longer the “craft” business it used to be and that it’s much more institutionalized and careers can be launched there successfully.  Rob also believes strongly in keeping the “idea

Fireside with Adam Selipsky, CEO, Amazon Web Services

Adam kicked off his fireside answering questions about organizational affinity – the traits that help align everyone in the company.   He shared many of the tenets shared at AWS that are known as their 16 Principles of leadership.  To that he added that they always take the long term view – making huge capital investments in the future – truly core to the foundation of Amazon.

On the topic of AI, he believes that we won’t have a good read for at least five years but at AWS they are taking a customer perspective.  What he sees as a priority is to stay in the forefront of innovation and to create industry frameworks on how to act as AI evolves.

As an HBS graduate, he was asked to articulate what he didn’t learn at HBS to which he responded, “managing people.”   He expanded on this by discussing his interactions with the team during the Pandemic when everyone faced uncertainty.  Openness and transparency were the core of his approach.  He felt that if he was honest about what was happening, people would come with him even if they disagreed.

At the end of the day, he was asked the inverse, what he LEARNED at HBS to which he responded – first the business “toolkit” but more importantly, the power of the Case Method.  He specifically discussed that the real world does not offer simple answers.  Most business challenges are based on open ended, ambiguous questions to which we will never really know the answer.  In fact, you will never know if you are right or wrong.  So, you have to understand what facts are important, make a decision, and be able to defend your decision.   This was powerful insight and a great takeaway from the conference. 

Putting People First Requires a Open and Intentional Culture

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The issues around Diversity, Equity, and Inclusion continue to create new conversations.  Forward looking organizations know first and foremost that there is significant value in investing in this area.  However, when things get messy, they cannot ignore the challenges and must take some risks in order to get it right. There are no guarantees that it will work the first time, but being honest about the learning curve and acknowledging success and failure is part of creating an authentic environment.   These were among the many takeaways from this morning’s “People First” Roundtable hosted by Gallagher and Benson Search.  This was the first of the live roundtables hosted in the post-Pandemic climate and clearly there was an energy in the room demonstrating the need to communicate face-to-face – especially on such key issues.

Hybrid Environment| Shedding a new light on DEI

DEI issues also now have to take into account a hybrid work environment and “post Covid integration” where work and life are inseparable, particularly to the newest generations of workers.  This group has raised the bar for expectations around company culture.   Interestingly, the return to the office has brought forward issues that didn’t surface before.  The presenter, Ruby Hamacher, pointed out that there were always nuances in the work environment that caused a degree of bias.  By way of example, she points to an anecdotal observation from client survey that found that “primary caregivers feeling a lower sense of inclusion.”  The transition back to the office is an opportunity to re-up our listening and observation skills!   To have these courageous conversations, it’s important to create a safe space – keeping in mind these four pillars:  LISTEN AND STAY ENGAGED; RESPECT DISCOMFORT; VOICE YOUR TRUTH; and EXPECT AND ACCEPT NON-CLOSURE.

Analysis| The life-raft in unchartered waters

What really stood out in the presentation was the range of options for companies to improve their DEI performance.   A robust but flexible communications plan is an important first step.   But informally, being sure to respond in a timely manner to feedback and questions. 

Implementing changes that include training, inclusive benefits, and a review of language to ensure its inclusivity.  Crafting and sharing the employee brand or EVP – another important aspect of the plan.

A critical key to success, however, is to couple the overall strategy with the use statistics to get the conversation on the right track.  It’s not always comfortable, but HR teams have to transcend talk to get down to numbers.  In Ruby’s words, “Using data to make fair & equitable decisions and to address DEI concerns helps take the uncertainty out of HR Analysis” and reveals the truth about what’s really happening mitigating perceptions that arise from casual observations.  Gallagher invests heavily in these people analytics and provides support with strategies to define, measure and embed DEI into organizational culture utilizing an ISO-certified framework to quantify the qualitative.  Ruby Hamecher  is happy to discuss this one a 1:1 basis with interested parties.

Reaction from the Room| Shared learning is critical.

Current world affairs naturally brought up how employees and employers are dealing with the conflicts in the Middle East.  In some cases, the leaders of HR were getting push back that their organizations were not doing enough or clearly communicating their positions.   It’s not uncommon that the CPO is leading the charge on the conversation, but often the CEO is lagging behind on how to handle the issues.  Public and consistent communication and vision is key.  Where best practices don’t exist – and that’s quite common – one has to conduct “courageous dialogue” similar to what was experienced during the George Floyd inspired protests.  

Another concern was how DEI impacts employee advancement. One of the participants suggested that training of managers to manage a diverse team is one of the keys to making sure that they strike a balance on creating and executing promotional opportunities.  Another layer of complexity arises in at in global organizations where DEI takes on completely different parameters.  Local customs and culture play a huge role in how a company decides to hold this conversation.

The exchange was vibrant and the need to partner on addressing common challenges was echoed throughout the Q & A around a profound theme – THE WORLD IS CHANGING AND WE HAVE TO CONSTANTLY ADAPT.  This includes in the language we use, the gestures we make, the biases we bring to the table.  All is up for review.   The presentation provided a series of useful tools and methodology that are available to those registered for the event.  

Roundtables hosted in this intimate format are truly a gift to those that can take time to attend.   But given busy schedules, the goal here is to sum up some highlights and honor the team that made it happen.    Many thanks to Gallagher and Benson Search for their investment in this event.

 

Takeaways from the 32nd Annual #WSAConf2023 @HarvardBusinessSchool- LEAD TO EMPOWER

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As a Boston area resident, I have been fortunate to grab some local fellow professional colleagues and attend this amazing conference @HBSWomen over the last 10+ years – the last “in person” event having been held in 2019.  In 2019, 2018, I attempted to capture some highlights in my Forward Observer Blog.  Thematically, it’s always uplifting, and the overall spirit is one of learning and sharing thanks to the hard work of the students who organize it and the generous spirit of the panelists and keynotes.   From the start this year, it was evident that everyone was extremely grateful to be meeting in person again.

The day kicked off with the powerful and accomplished @Angela F. Williams, President and CEO of the United Way.  She deftly shared her life’s journey and decision that led her to where she is today – advocating the virtues of being #bivocational a term to which I can personally relate.  She’s been a leader in the military, the for-profit world, the government, and the non-profit sector and on the weekends, an ordained minister.  Her honesty about what it really means to “have it all” was refreshing. 

Among her key points:

  • Know your own value systems and who you are – understand your purpose.  She admits, she tried to keep two separate personae until a mentor called her on it.
  • Embrace the NEW – be willing to see where life takes you
  • As a leader, her goal isn’t to be invited to a seat at someone else’s table – but to set her own and invite others.
  • This is a table with a different value system – one designed to bring people in with unusual backgrounds – creating an opportunity to be one’s authentic self.
  • When you make a mistake or have a difficult situation, don’t internalize it, it’s not always about you.
  • Pointedly, as a female and a Black leader, she is focused on collaboration and supporting her peers – pushing back on anyone or any outside forces that challenge this.

I chose the panel discussion What Doesn’t Kill you makes you Stronger, with

The panel covered a range of topics from the challenges of being a new CEO/Founder and how to home in on your leadership style to dealing with built in biases for fundraising.  Among the key takeaways:

  • Understand the “unwritten” rules. Every environment has them, so inasmuch as you want to be your full, authentic self, make sure you adjust a bit in each situation – #codeswitch when you have to
  • Use humor to engage and soften the room when you can
  • Have a personal Board of directors as well as a professional one
  • Choose the feedback you take
  • Choose your non-negotiables wisely
  • If someone says “I’m crushing it,” look behind the curtain! Don’t expect to be great at everything all the time – it just doesn’t happen
  • Look out for “stoplight” events – things that literally stop you in your tracks and suggest that you should consider changing direction.
  • Work at this level is an elevator ride, so if you are having some tough times, just try not to get out on the basement level.

The second keynote, Natalie Massenet, Co-Founder, Imaginary Ventures, Founder, Net-a-Porte detailed the journey upon which she embarked as a true e-Commerce pioneer in high end retail – already one of the most competitive vertical markets.  She emphasized the importance of a vision and the will do whatever it takes as the most important driving factors in her success.  However, she didn’t really understand it in the beginning.  When faced with a “mutiny” by her inner sanctum of executives, she turned to her key investors and learned that truly it was her vision and ideas that propelled them to invest in the company.  Everything else can be duplicated.   Today, as an investor, she is looking for the same – people that are smart and capable and willing to step out with new ideas and vision.

In the afternoon, I chose the Growing the Female Talent Pipeline panel with:

The panel traced their own trajectories while also providing guidance to their peers on how to ensure that women are given the opportunities to apply for roles in which they are interested.    Among the key takeaways:

  • Job Descriptions are tricky. Many are biased and don’t reflect the actual job, so if you are not sure, just go for it.
  • In reviewing ways to be more inclusive, one of the panelists shared that they started with reviewing job descriptions and rewriting to be more appealing to a broader audience. Some were implicitly using the wrong language to attract female candidates.
  • When looking for jobs, pick the managers you want to work for (vs. the positions) and pick people who are growing in their roles (vs. those that have peaked)
  • Grow at the pace of your talent – when that is no longer happening, it’s time to move on
  • We all need a break from the fast pace – try to anticipate when you need to downshift and prepare for it so you don’t crash
  • Internal women’s networks are as important as sponsors and mentors. You need to be part of the conversation across different parts of the company and this is the way to help and support each other across functions.
  • Always be thinking about what you want to LEARN and what you want to TEACH and let that be your guide as to managing your career AND Take into account your entire life and what your goals are at that time

The final keynote enjoyed a fully packed room (we were way up top) – actress Dakota Johnson.  She presented an entirely unexpected point of view on investing and growing a company – using her influence and passion to fund projects that speak to her on an emotional level – advocating for trusting your instincts.

Many thanks to the student organizers, co-chairs,  @Amy Sang and @Martyna Styslo, and professors who invested many months in planning this conference which always surprises and delights the audiences!  Full agenda and bios are linked here.