Truision was honored to host Yoav Intrator, CEO at a new startup, for March’s CIO Forum discussing “Autonomous Economy: It’s Sooner Than You Think”. A summary of Yoav’s presentation and his bio are below.
There are generally two ways to look at the possibility of an autonomous economy, one is to project a positive picture and the other is to project a scary view, none is which Yoav is suggesting. Instead, Yoav proposes we focus on the barriers or friction areas that are slowing us down from getting there. To do so we need to have a better grasp of our current state. The power of technology is growing exponentially and while it might feel like significant progress is being made, those that are in this industry believe that it feels fairly slow. It is similar to flying in a plane and not realizing how quickly we are moving. We’re actually evolving very quickly in our technological and innovative capabilities.
Interestingly enough, humans have done a poor job at predicting the future outcome of technological growth and innovation. For example, when trying to predict the future of energy, what was estimated to take twenty-two years, due to innovation is only taking four. In the past, we’ve categorized organizations based on the services they offered. Now, we are classifying the industries by consolidated services (i.e. Amazon, Google, etc). Most companies today have 85% of the business digitalized as compared to 10% in 2001. This shift in digitalization is moving us faster towards an autonomous technologies and economy across all sectors.
Cars are easy to understand example of autonomous technologies. Cars began first as mechanical, then became IT-assisted (ABS brakes, etc), and the car is now becoming a device driven completely by technology. Similarly, the autonomous economy indicates a shift in what will eventually drive the economic decisions– we’re passing the baton from humans being in the driver seat to technology being the driving force behind business decisions.
Whether cars or the idea of an autonomous economy, it’s important to identify the definition of “autonomous.” Searching the term identifies the following qualities as important: freedom to act autonomously, self-governing, self-navigation, intelligence, assertiveness, ability to procreate, etc. In the evolution to autonomous technology, all of these capabilities would need to be implemented in order to succeed across both the automotive and the autonomous economies.
The “last miles” or barriers to seeing effective autonomous features penetrate our economies are trust, supply chain, platforms, and regulation. People need to trust the institutions before investing because trust is the fundamental currency of commerce. Technology will be needed to build trust in a system vs. having traditionally placed that faith in humans (ie: banks to blockchain)
Tackling the challenges related to supply chain will require autonomously orchestrating contracts and E2E processes across all parties (production, shipping, delivery, etc) and tracking SLAs. When the supply chain is automated, it has to be flexible enough to facilitate adjustments if something happens to the initial contract (ie: breaks in the supply chain like delays in shipments, etc)
Ultimately platform barriers include tackling monolithic, centralized, limited connectivity, the still-growing possibility of AI, machine learning, Quantum, and the work in the security space. In order to succeed, we need to shift to intelligent and decentralized models, with the ability to orchestrate contracts and relationships, be self-aware, ability to self-heal, and installed circuit breakers. Leveraging quantum proof vs. quantum computers, systems will need to look more like the human brain– and enable systems to work in tandem to orchestrate one contract that meet the business obligations of both parties.
Regulatory barriers include legacy manual processes, slow decision processes and changes in policy that are too slow to adjust and unsure of how to evolve when encountering new challenges, and political uncertainty. Regulatory will have to address setting parameters of morality, fairness, and trust. Ultimately because AI stems from learning from humans, the concept of inherent bias will be introduced. Machine learning should also be leveraged to identify and curb those biases. We’d be utilizing AI to monitor AI-driven systems, acting as circuit breakers to ensure everything remains within ethical and moral boundaries.
Lastly, companies will need to identify how to continue developing relationships with customers when automation is reducing these human touchpoints shifting roles to more technology, process and automation monitoring roles.
About Yoav Intrator
Yoav is a trail blazer in innovative technologies. He is a board advisory to several companies and has founded a MedTech start up. Previously, he was the Head of JPMorgan’s Israel Technology Center. At JPMC, Yoav developed and curated the site strategy, and led multiple development teams including: JPM Institutional trading, ML Fraud, Blockchain, Authentication, FinTech, UX, Institutional Payment, Cyber Risk, and 10X Business Leads. His efforts resulted in the acceleration of JPMC’S Institution Trading platform to the cloud, the delivery of a ground-breaking Fraud Machine Learning solution, and the strategy to incorporate blockchain solutions into the financial supply chain. His effort in Israel expedited third party proof of concepts related to Fintech initiatives.
As a CTO at Bank Hapoalim, Yoav managed three teams including: Poalim Innovation Lab (PIL) – working closely with FinTech and High-tech companies to experiment and incubate new disruptive solutions, 10X team – team collaborated with the business lines to identify and develop business backed disruptive initiatives across new marketplaces, and Corporate Innovation – which focused on promotion of technology enablement in the workplace. During his tenure at the bank Yoav launched several key strategic initiatives: Poli (NLP & NLG agent), and the fist initiative in Israel launching a new product Bank Guarantees that is based on Blockchain; such network product streamlines the business processes across all relevant parties including the Israeli government. Contributed to the most successful P2P payment product BIT in Israel.
Prior to joining the Bank Hapoalim, Yoav was a General Manager with Microsoft Corporation in Redmond Washington where he was responsible for product strategy. Prior to joining Microsoft, Yoav had filled several senior executive roles including CTO, and Chief Enterprise Architect in Fortune 500 companies including: Deutsche Bank, XL Capital, and AT&T. Yoav has a Bachelor of Arts from Tel Aviv University, a Master of Science and Ph.D. in Computer Science from The George Washington University. and has been recognized with several innovation awards.
Yoav Intrator EA CIO Final Deck _opt
