Outlook 2021: Rethink, Restructure and Revitalize

Article By : Vincent Roche, CEO and President, ADI

Analog Devices Inc (ADI) President & CEO Vincent Roche shares his outlook on the tech trends for post-COVID era...

We're entering a new decade, one of unprecedented disruption and where the full extent of COVID-19 impact on human life that local economy and our industry isn't yet known but already it has become an extraordinary catalyst for change. The need for applied innovation is greater than ever across multiple industries where technology is playing a critical role in ensuring a healthier greener and more connected future. [caption id="attachment_11260" align="alignright" width="300"] Vincent Roche, CEO and President, ADI[/caption] So let me share a few examples with you. Let me start with healthcare. The pandemic has revealed the fragile nature of many of our health care systems. With a renewed focus and demand for accessibility affordability and wellness globally Information technology can help shift the focus from treatment to prevention with technologies that monitor and exchange clinical grade data from the patient to the doctor in the home or the office without requiring hospitalization. In the area of industrial automation, the pandemic is strengthening the case for robotics and automation robots are joining our frontline workers and helping to fight the virus, for example. They are more critical than ever as businesses and government search for new contactless solutions. Demand for high quality connectivity driven by work from home, online education, at retail and Tele Medicine has accelerated deployment of more advanced communication systems such as 5G and high speed optical Increasingly, quality of service for high bandwidth will matter more and more in future. We've rediscovered blue skies and clean air. During the height of the pandemic we experienced empty offices, less air travel, less commuting in general, lower polluting emissions, and cleaner skies. This makes me wonder how we, as industry leaders can be better stewards of our planet. The innovative technology in areas like intelligent buildings, sensing people and energy efficiency will be one way for us to achieve this goal. There are really 3 Mega forces at play today. Electrification, digitalization and automation. We're in the third wave of transformation of the information and communications technology sector and it's characterized by pervasive sensing and ubiquitous connectivity. We all know that data is playing an increasingly critical role in our sector. Data mining is the new oil as value shifts from data delivery to creating data insights. As we look ahead it's critical that we anticipate and adapt to meet customers rapidly changing needs. For example, shortening, product development and product life cycles are being enabled by pervasive simulation, and the use of digital twins. Open source based ecosystem approaches are increasingly necessary if we're to fully benefit from the power of combinatorial innovation. The future is already here. The disruption is accelerating the digital revolution. which has profound influence on industry, economy and of course, human society. To meet these new challenges all industry players will need to redefine and reinvent themselves. And I think there's a very nice metaphor for describing the era that we're now in. And it is antifragility. Well one of my favorite authors, Nicholas Taleb, wrote a book called antifragile, things that gain from this order following the 2008 financial crisis In his book Taleb writes that certain systems in nature, in business and society actually thrive when they're stressed. When randomness takes root and chaos is the order of the day. He calls these systems antifragile, which is another way of expressing durability. Antifragile systems have an ongoing ability to create to learn and to adapt at a pace faster than their environment. Now COVID is pushing us towards a new era of ecosystem collaboration to adapt and remain resilient. We have an opportunity to learn and collaborate in new ways, creating ecosystem wide innovation, driving companies to explore and to test new partnerships. These partnerships and new products and services we innovate today will redefine the business and technologies for years to come, will ensure that we continue to drive value for our customers to leave the world a better place than we found it.

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