In an era defined by rapid technological advancements and ever-evolving challenges, breakthroughs are important as they encapsulate the collective drive to shatter barriers and propel forward.
This theme, “Breakthrough” was underscored at Amcham T&T’s annual Tech Hub Islands Summit (THIS), which continues to work toward advancing digital transformation efforts and initiatives in T&T.
This was also reflected in the panel discussion which looked at the importance of breaking through limitations, embracing bold ideas, forging new paths to shape the future of technology, redefining what’s possible and leading the charge towards a future where technology knows no bounds.
Discussions centred on the fact that young people are a critical component in forging the way forward as the question also arose on how can the next generation of leaders be developed and nurtured.
Carina Cockburn, the T&T country representative of the InterAmerican Development Bank (IDB), was part of a panel at which she shared that the best high-performing teams are those that are diverse.
“It’s not just about having younger people. It’s about having the opinions of older people, of men, of women, people from different backgrounds and this really contributes to a very dynamic decision-making process, which allows you to be more successful in the final analysis.
“I think in terms of the next generation of leaders, the message to them is to make sure your teams are diverse,” Cockburn explained.
Also, she noted there are opportunities to lead initiatives in an organisation regardless of role or level, adding these can include leadership at different stages.
However, Cockburn advised leaders to also do their part by giving such opportunities, lending support and “removing any impediments” that may be stopping someone from achieving their full potential.
On the issue of creating an environment where digital transformation can thrive and succeed, Cockburn said it “really has to do with allowing for failure to take place in the organisation.”
In sharing an example of this she said, “Some years ago we decided we would try to implement AI in our procurement process for individual consultants. So the idea was that through machine learning, we would review keywords in resumes and match those with the terms of reference. Sounds pretty simple but to train the system, we needed a lot of data.
“When we went out to our partners in the Government, they didn’t want to share that data because this is confidential information in the procurement process. So, we tried, we went through different contortions to make it happen and in the end, we weren’t able to proceed with that project at that moment.”
She said while the consensus was to place the project on pause the team, however, felt good that they tried.
“We tried to do something modern in a time when maybe it wasn’t the right moment and that helped us to do other successful initiatives that we have been able to achieve in the country,” she said.
It’s this kind of “openness to failure” Cockburn maintained that really helps people and entities succeed in environments of great complexity.
“Some of the demonstration projects we have done for example, like the drone light show at Carnival, it hadn’t been done before. It’s great complexity, lots of uncertainty and up to a week before, we didn’t know if we were going to be able to proceed.
“In the event itself, all of the drones were shut down by some interference. And so even at that time, we didn’t know that it was going to succeed but by having a very diverse team, and people with different viewpoints...you end up having a team that can pull even the most complicated projects together and get it to succeed,” she added.
With digital ideas, these can also involve some level of risk.
Karen Yip Chuck, CEO, group vice-president Republic Bank, said a cultural change is needed from “yes but” to “yes and tell me more.”
“Some ideas that are put on the table in its first iteration may be small and may even be off the mark. But as someone else listens to it, or even that same person starts to explain it, it can build and it can mushroom into bigger and bigger and great ideas and therefore great initiatives,” Yip Chuck said, noting that the bank currently has a programme ongoing to encourage ideas and to create a better customer experience.
In sharing further advice in elevating one’s business she said, “You’ve probably been doing it all the years by rote, maybe not applicable any more in this day and age. Maybe it’s not efficient and you could stop and there are others that you know you have to do. They’re probably working well and you could keep those and then there would be others that you need to just start,” said Yip Chuck.
Noting there are many initiatives born from digital transformation, Yip Chuck recommended to keep building them and they would mushroom going forward.
Examining the risks even further she said, “If somebody were to come with the ideas what would you be looking at in terms of its applicability, its relevance. What is it looking to solve? If the payback would be worth the investment, because all of these things are huge investments.
“And I guess you just manage...you have to create that environment of encouraging the innovation and the ideas and therefore, having an element of safety and trust to allow people to fail quick, fail fast, fail small.”
Abraham Smith, CEO Digicel T&T echoed similar sentiments, saying one of the biggest risks comes even after something is done in resistance.
He explained resistance in the sense of coming up with ideas but being hesitant in implementation.
Smith also advised that even the simple thing of how people speak and communicate could have a big impact on whether people are resistant or not.
“And then even after something’s done, you have to watch out for the risk of resistance as well. I think a lot of people will be afraid that technology is going to take my job and so we also have to work to talk about how it changes the work that they do and show that anything we do to make things better for employees and better for our customers is ultimately going to be better for all of us,” Smith said.
According to Amcham T&T’s website, THIS is a hybrid summit with networking, education and tech to help people and entities meet the leaders and talent in the Caribbean and understand the potential application of tech in one’s company and even life.
It noted that ultimately, THIS will catalyse the development of a local tech industry and put T&T and the wider Caribbean on the global tech map.
