‘Innovation’ is a buzzword that’s thrown around by politicians, business leaders and academics. For such an overused word, few people can clearly articulate what it means.
Some perceive innovation as a threat to job security – this fear is not new. In 4BC, Aristotle speculated that if machines became sufficiently advanced, there would be no more need for human labour. In the 1930s, John Maynard Keynes popularised the fear of ‘technological unemployment’, and by the 1960s, there were claims of the working week being halved by the turn of the century due to technological advances!
On the contrary, Accru client Ben Heap, a co-founder of H2 Ventures, believes that society has consistently created new, engaging and satisfying employment as technology has replaced redundant roles, and will continue to do so.
One thing is for sure, it’s critical that we prepare ourselves for the change we know that’s coming. Just as kids should not be planning for a long-term career as a bus driver in a ‘driverless’ world, business owners should not be sticking to the same old ways for delivering their products and services or managing their businesses, and neither should their accountants.
At Accru, we are skilling up on business intelligence and data analytics – and excited by what it can do for our clients and for our productivity. Here’s one example, where Thomas Heenan, an Accru Financial Planner, talks about using analytics to help clients better understand their investment portfolio performance.
So how does Ben Heap, who works daily with ‘innovative’ businesses, define innovation? Read his full article What the hell is innovation anyway? where he shares some fascinating insights into this question and reminds us of some of Australia’s finest innovators.
We certainly agree with Ben when he quotes Charles Darwin and speaks of being inspired by Australia’s innovative history. We’re also excited by what the H2 startups, and others like them, are achieving in the realms of fintech, big data and artificial intelligence.
There are so many new opportunities available to young Australians as they enter the workforce and start new businesses over the next decade. Let’s make the most of them!
“It is not the strongest or the most intelligent who will survive but those who can best manage change.” Charles Darwin