This year, Future Point of View hosted its annual think tank in a slightly different format, combining both in-person and virtual ThinkTank events. FPOV’s ThinkTank is a dynamic gathering that brings together a select group of business leaders to tackle intricate problems and brainstorm innovative solutions for their organizations.

Opportunities to Capitalize on Innovation

As we delve into the insights from FPOV’s 2023 ThinkTanks, it’s crucial to recognize the immense opportunities that organizations face in the realm of digital strategy. According to McKinsey Insights via Harvard Business Review, a staggering 89% of large companies worldwide have embarked on their digital and AI transformation journeys. However, they’ve only realized 31% of the expected revenue increase and 25% of anticipated cost savings from these endeavors. This statistic highlights the untapped potential for companies to harness innovation effectively.

Accenture’s study reinforces this point, revealing that companies that invest in digital technologies and possess strong technology expertise enjoy 26% higher profitability compared to their peers. Moreover, Gartner’s research demonstrates that organizations prioritizing digital transformation are 1.9 times more likely to be top performers in their respective industries. These statistics emphasize the imperative need for businesses to seize the advantages of innovation in our rapidly evolving digital landscape.

FPOV’s ThinkTanks serve as a platform for business leaders to step back and contemplate pivotal future strategies. They create a conducive environment for generating novel and potent ideas. Perhaps even more significantly, they offer a unique opportunity to juxtapose one’s vision with those of leaders from diverse industries and geographical locations. This cross-pollination of ideas and perspectives is designed to foster breakthrough innovations.

Furthermore, FPOV’s ThinkTanks aim to nurture the leadership abilities of participants, encouraging them to think beyond established boundaries, challenging leaders to think in the whitespace and thrive in the face of disruption.

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The ThinkTank Methodology

Central to FPOV’s ThinkTank approach is the inclusion of a diverse mix of C-Suite positions and personality types. This diversity sparks creativity and promotes well-rounded problem-solving.

The ThinkTanks employ interactive sessions called “ThinkSprints.” These two-hour sessions approach topics from multiple angles, facilitating immersive ideation through various brainstorming models. The primary goal of ThinkSprints is to capture ideas and create practical models for implementing new concepts.

The theme of the 2023 FPOV ThinkTank, “Creating the Virtuous Spiral of Profit Amplification,” underscores the central idea of using digital tools to magnify profits. A Virtuous Spiral is achieved when successful investment in technology amplifies profits and fosters continual reinvestment. The key to creating a Virtuous Spiral is using digital tools to grow topline revenue while at the same time lowering costs through automation and efficiencies. Profit Amplification allows an organization to constantly reinvest in technology and perpetuate the spiral.

Images from our in-person Think Tank at the First National Center in Oklahoma City. 

The In-Person and Virtual Session Outcomes

The in-person ThinkTank, held in the historic vault of the First National Center in Downtown Oklahoma City, brought together attendees from across the globe. The event covered discussions on a range of critical topics related to the Virtuous Spiral, condensed into five ThinkSprints facilitated by Future Point of View. The five ThinkSprint themes included:

  1. Financial Analytics & Ratios to Ignite the Virtuous Spiral: Ideating a new set of analytics & categories for measuring the overall digital environmental impact
  2. Financial Impacts & Investment Models for AI: Ideating the financial impacts of AI on organizations in the future
  3. The Synergy of Digital Philosophies and Profits: Ideating the financial impacts of three core digital philosophies, and why these are important
  4. Humalogy® Positioning & Financial Results: Improving a spreadsheet model for projecting Humalogy® balance today and into the future
  5. ThinkSprint Five: Modeling and Igniting the Virtuous Spiral: Refining a spreadsheet model for projecting digital innovation and power level investments

One tangible outcome of the In-Person ThinkTank was the collaborative refinement of a financial model, compiled into a dynamic spreadsheet, that serves as an actionable guide for planning and investment decisions aimed at producing a Virtuous Spiral within organizations.

The subsequent Virtual ThinkTank, held three weeks after the in-person event, drew another diverse, international audience of organizational leaders. Its primary goal was to build upon the ideation and progress achieved during the in-person ThinkTank.

Attendees of the Virtual ThinkTank worked through the first four of the five ThinkSprint themes of the in-person ThinkTank. One of the most notable outcomes of the Virtual ThinkTank was the collaboration on a model for assessing Humalogy®, which is the concept of gauging the level of integration between humans and technology within any process or system. By applying the Humalogy® scale to their organization’s strategic planning, leaders can shift the paradigm on how organizations understand and optimize human-technology interactions to create better outcomes for evolution.

ThinkTanks and the Future of Strategy

Future Point of View takes pride in developing thought-leading strategies in a digitally infused world. By hosting groundbreaking events like the ThinkTank, FPOV not only empowers organizational leaders to solve complex strategic challenges but also gains valuable feedback and ideation from a diverse group of leaders. This feedback loop enables FPOV to continually enhance its ability to serve its clients effectively and stay at the forefront of digital strategy.

FPOV’s 2023 ThinkTanks provided a platform for leaders to dive into the realms of innovation and digital transformation, and chart actionable steps towards creating a Virtuous Spiral of Profit Amplification for their organizations. The combination of in-person and virtual events, along with diverse participation in the ThinkSprint exercises, fueled a wealth of insights and ideas that are poised to impact organizations and shape the future of business strategy.

About the Author

Trent’s natural curiosity for emerging technology makes him a great addition to FPOV’s Business Development team. As Business Expansion Manager, Trent leverages his passion for pitching new concepts to evangelize the FPOV offerings. Learn more about Trent Saunders.