NEXTEC takes South Africa’s gift of wisdom, resilience and can-do spirit to the next level. We solve new world problems through Creative Intelligence. We go beyond the norm to find novel solutions.
We are in the midst what Prof. Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, calls the Fourth Industrial Revolution. According to Prof. Schwab, we are at the beginning of a revolution that is changing the way we live, work and relate to one another.
The philosopher Eric Hoffer once observed: ‘In times of change, learners inherit the earth; while the learned find themselves beautifully equipped to deal with a world that no longer exists.’
The period we are living in today offers a range of new technologies. The technologies fuse the physical, digital and biological worlds, impacting all disciplines, economies and industries. We even challenge ideas about what it means to be human. In the spirit of learning, NEXTEC assembled a team to consider:
- What will new companies look like soon?
- What problems will they need solved?
- What business and operating models will allow greater agility and adaptability in responding to these challenges?
- How will people and communities thrive in this new ecosystem?
- What will it take for companies and governments to create sustainable value in this new world paradigm?
Only new business models can answer these questions. Business models must focus on a shared value base. We need to focus on some higher objective and inspired purpose rather than only focus on profits. Solutions to solve today’s complex challenges must provide benefit to all communities. We are all in this together and we will win only if we all win together.
Traditional hierarchical ‘command and control’ leadership and people models will no longer be enough to lead future companies. Models must embrace autonomy, be agile and manage ambiguity and volatility. Digital systems and deep domain knowledge will become key competitive and leadership advantages for these new paradigm organisations.
The world moves fast. One or two people no longer have enough knowledge, insight and strength to win the day. NEXTEC’s goal is to unleash the value of creative intelligence to solve and resolve new world problems to the benefit of all. The NEXTEC business model for creating value consists of four primary layers:
- Foundation. Old world skills remain important. These critical building blocks include human science, business science and social science skills.
- Technology. This layer enhances and promotes the foundation skills through new world machines such as blockchain, artificial intelligence, and cognitive computing.
- Creative sciences make it possible to harness old world thinking and technology for solving complex new world challenges.
- We are working towards creating an iconic NEXTEC brand to compete at a global level.
Any data-rich company or industry can benefit from this NEXTEC offering, including healthcare, insurance, financial services, ICT and energy industries.