The U.S. Patent and Trademark Office reported in “Intellectual Property and the U.S. Economy: 2016 Update,” that intellectual property (IP) accounted for 29.8% of jobs, 38.2% of U.S. GDP, and 52% of U.S. merchandise exports. While these numbers are reported for the U.S., they are also representative of many other countries. In fact, looking at these numbers it is possible to portray IP as the “manufacturing”-type industry that is driving good jobs. In fact, in the U.S., the companies in the IP industries paid 47% higher weekly wages, by comparison.
Likewise, in 2016 the Executive Office of the President published “Artificial Intelligence, Automation, and the Economy, which explored the profound impacts that artificial intelligence (AI) was likely to play on the U.S. economy. They reported that, “… every 3 months about 6 percent of jobs in the economy are destroyed by shrinking or closing businesses, while a slightly larger percentage of jobs are added.” This creates a constant cycle of creation and destruction in the economy, which tends to lend itself to a persistent level of redeployment. Much of this directly relates to the movement of displaced workers into new types of work.
Seal Software is at the heart of these two trends. Using AI and machine learning (ML), Seal Contract Discovery and Analytics (CDA) is helping companies discover and use the intellectual property value in their unstructured data to drive increased growth for the company, its workers, and the economy as a whole.
But, in the glamorous glow of the technology that powers AI and IP, it is far too easy to miss the “I” … which is the Intellectual. As noted in the President’s report, if you are growing, you are increasingly hiring from the displaced workers pool. It is critically important that you provide the learning that enables these workers to succeed. This is not an altruistic gesture. This is a necessity for your company to continue to thrive and grow, and for you to derive the fullest possible use of your existing IP and the development of new IP.
If your company is declining, you face an even bigger imperative. You will need to implement disruptive systems, like Seal Software and do it fast. Implementing them, however, is easy to say but requires careful planning and attention to detail. Through learning and change management, you will need to enable your employees to derive the largest value from the platform in the shortest period of time. It is essential as a means of reversing your path.
In the earliest days of computers, there wasn’t a clear understanding of just how many computers were needed. While it is a misattribution to Thomas J. Watson, there were still many people who would have believed that, “only 5 computers,” were needed in the whole of the U.S. What isn’t misattributed is Moore’s Law, and the growing power and shrinking size of our computers.
But I contend that we are now at the edge of a great change, and it will define us, not just as a country, but as a planet. We must recognize the need to develop the “I”, the Intellect. There must be learning processes, not just learning events. Development of the Intellect must take on the importance that the addition of computers in business played in the 70s and 80s. You must do this as an organization. You must do it with all your enterprise-class platforms, not just Seal. You must demand that enterprise-class platform vendors have capabilities to assist you with this. Not just because you are nice, or socially conscious, or considered one of the best places to work. All of those are welcome, but they are not essential. The essential component is that it helps you derive more value, in a faster period of time, and for a longer duration as well.
Feel free to talk to me or any member of the Seal team about how we can help you do this in Seal. We can even help you in many other ways. After all, properly developed, the skills and systems needed to support and develop the intellectual capacity of your organization will transfer to many different applications. You can reach me on LinkedIn here.