2 Ways to Make CES Relevant for Your Organization (even if you think it isn’t).
This week the Consumer Electronics Showcase (CES) is back in Last Vegas with all the fanfare and opinions that come with it. For the uninitiated, the conference is the place to see the future of technology — from the exciting to the totally weird.
By now, the cliche “Every Company is a Tech Company” has been worn out, but the reality is that CES is where impactful trends are born. With something so futuristic, however, it can seem difficult to figure out how breakthrough innovation will align to your business.
I’ve spent my career developing consumer technology in the banking industry, a space that might not seem obviously impacted by the regular announcements on stage in Vegas. I’m sharing the two questions I ask myself each year to make the announcements relevant for my company, and examples on how to make CES relevant for you.
Which areas have a bunch of really similar ideas?
CES covers everything, from AR & VR, to foldable screen technology, to the future of agriculture. You can’t possibly follow it all, but there is a way to sift through the noise and figure out what might be approaching a breakthrough moment.
When an area begins to have similar product announcements, at similar maturity levels, with capabilities that are only minorly different, it becomes an area to shine a spotlight.
The “boring similarity” often indicates that the companies closest to releasing products to market have answered many of the same questions, validated similar hypotheses, and reached similar conclusions. This is a sign of maturity in the innovation space.
For example, in 2022 I wrote about how blockchain became boring (and why it’s a good thing).
We’re beginning to exit the chaotic phase where everyone is clamoring for reasons to get into blockchain, and instead exploring solutions with much more meat on them.
The major players have proven use cases and an ability to clearly articulate what should be built, and how.
There is a shift in understanding when blockchain is not the correct solution, which points to maturity for the industry.
As you explore the announcements from CES, look for similar examples in the areas that matter to you.
The flashy objects that you’ll inevitably see make headlines are sometimes the most exciting (especially if you’re a geek like me), but they should be seen as less of an indication of what's to come, and more of an indication of what leading innovators are trying to test.
Will the ideas become a disruptor for what you do?
The concept of “Third Order Effects” became clear to me during the COVID-19 Pandemic — the idea that something like a major (like a virus outbreak) might change seemingly unrelated areas (like how people work, where they choose to live, or the increase popularity of a nomadic lifestyle).
Depending upon your industry, what you see at CES might seem irrelevant. Instead of looking for direct connections, look for the third order effects.
For example, a few years ago CES was filled with innovations around connected cars and autonomous driving. If your organization is a large national retailer, it might not seem like connected vehicles will impact you, but once we ask a few prompting questions, the impact becomes clearer.
Will people live further from work if they have an autonomous car and can relax while they commute?
How will consumers decide which stores to stop at? Will the car make better decisions based on traffic and efficiency?
What happens if people will travel further for preferred stores now that they don’t have to drive on their own?
Does roadtripping see a resurgence? Will people go on more day trips to further locations?
Would ghost cars ever arrive at my store to pick up items without a driver inside?
Would consumers begin to expect more or less automation in my own store if this becomes the norm? What could / should be automated?
While the answers may differ depending on the type of business you’re a part of, the prompts can help you think in new ways and ensure you’re not blind to the changing behaviors that could impact your organization long-term.
One final thing to remember — being wrong in trend sensing, especially technology trends, is expected. It can feel frustrating to go through this exercise only for the trend never to materialize. Over the years, I’ve even seen leaders challenge their team members on why their predictions didn’t come true. Often times, the answer is a confluence of things, not a single item that can be identified.
Trend sensing is a way to prepare your organization and de-risk innovation so that you have opinions that get you ahead of the competition. Embrace being wrong, and reflect on the catalysts that nudged the change in a different direction so you can make better predictions next time.
