WEBVTT - Briggs Says Tech Potential Is `Untapped'

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<v Speaker 1>This is Bloomberg Business Week with Carol Messer and Jason

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<v Speaker 1>Kelly on Bloomberg Radio. Alright, so, Carol, we spent a

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<v Speaker 1>lot of time last year talking about the big tech names,

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<v Speaker 1>how successful they were. We were talking earlier in the

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<v Speaker 1>day about the fact that after the close we have

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<v Speaker 1>another trillion dollar company in that so, you know, trillion

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<v Speaker 1>dollar companies, they're you know, they're popping up everywhere. Exactly

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<v Speaker 1>what's happening sort of underneath all of these technologies and

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<v Speaker 1>what are the trends we should be worried about. We're

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<v Speaker 1>gonna put all of that to Bill Briggs, chief Technology

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<v Speaker 1>Officer for Deloitte Consulting. He's here in our Bloomberg Interactive

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<v Speaker 1>Broker studio based out in Kansas City, although unfortunately for him,

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<v Speaker 1>he's a Bengals fan, so only taking part sort of

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<v Speaker 1>kind of in a secondary or maybe a sort of

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<v Speaker 1>second hand way and all the excitement's going on with

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<v Speaker 1>the chiefs. But we'll get to that later. Yeah, you

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<v Speaker 1>do think to be and I own it. I know

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<v Speaker 1>that must be must be tough for you a cocktail parties.

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<v Speaker 1>But um so let's talk about your your tech trends

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<v Speaker 1>Insights Report because it is an interesting time, especially because

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<v Speaker 1>it feels like skepticism around technology could be at an

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<v Speaker 1>all time high. I think you have to flip it

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<v Speaker 1>in for our for Thoy's clients, fortunate five hundred large

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<v Speaker 1>government agencies, it's almost the opposite of the potential is

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<v Speaker 1>so untapped, as so much that's happened in the last

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<v Speaker 1>we started this report eleven years ago, and the things

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<v Speaker 1>that were front and center, then cloud, and then move

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<v Speaker 1>to analytics and data and you know those are still

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<v Speaker 1>relevant and there's still so much upside to be had,

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<v Speaker 1>and now you move into the things kind of driving

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<v Speaker 1>today and tomorrow, blockchain and AI and quantum, and so

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<v Speaker 1>there's untapped, huge potential to drive all kinds of frontline

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<v Speaker 1>new products, service offerings and back that have work. It's done.

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<v Speaker 1>So that's the I mean, the theme is a very

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<v Speaker 1>optimistic theme of how do we apply technology to transform

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<v Speaker 1>and disrupting and innovating. But the skepticism is there too,

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<v Speaker 1>which I think is healthy to keep that because one

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<v Speaker 1>of the things you talk about in the report, I

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<v Speaker 1>think is ethical technology and trust, and I would imagine

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<v Speaker 1>that that becomes a big theme as people are rolling

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<v Speaker 1>things out, especially if they're customer or consumer facing. Yeah,

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<v Speaker 1>and how do you make that an actionable you know,

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<v Speaker 1>So we had risk forever in technology, so we'd say,

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<v Speaker 1>how do we actually manage the risk of delivery, risk, operations,

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<v Speaker 1>security and privacy, regulatory compliance. The shift to say the

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<v Speaker 1>ethics simlarity of what we do and just because we can,

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<v Speaker 1>should we? And how do we make that a very

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<v Speaker 1>strategic conversation and not something we're surprised by after the

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<v Speaker 1>fact worst case or a compliance based activity which is

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<v Speaker 1>not doesn't feel right? So how do you do that

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<v Speaker 1>in authentic way, a transparent way. It's not just for

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<v Speaker 1>customers and product, it's also for your people, your employees

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<v Speaker 1>and how work is transforming inside the enterprise. Well, it's

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<v Speaker 1>interesting too because I feel like UM in terms of

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<v Speaker 1>gaining customers trust and brand loyalty. I mean, some of

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<v Speaker 1>the tech brands, whether it's you know, privacy invasion or

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<v Speaker 1>data leaks and so on and so forth, that has

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<v Speaker 1>certainly come under UM some stresses as of late. So, uh,

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<v Speaker 1>specifically does it get better? You know what? What's the

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<v Speaker 1>future for that? Well, you see some organizations starting to

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<v Speaker 1>use that as actually a branding position of the fact

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<v Speaker 1>that We have that front and center in our mission,

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<v Speaker 1>in our brand, in what we do. Don't sell your data,

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<v Speaker 1>we don't or whatever whatever it may be. Yeah, and

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<v Speaker 1>you like one of the trends this year is the

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<v Speaker 1>human experience platform, which is the idea that we can

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<v Speaker 1>use with computer vision and with voice detection and with

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<v Speaker 1>sensors understand an individual's emotional state and use that to

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<v Speaker 1>help interact with them in a more authentic, engaging way.

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<v Speaker 1>That's one that has the potential to cross that line

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<v Speaker 1>of if done the wrong way, that could be very creepy,

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<v Speaker 1>very unsettling. If done the right way, there's a ton

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<v Speaker 1>of utility for the individual and employ your customer, so

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<v Speaker 1>they What I love is the trends. The convergence of

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<v Speaker 1>the trends is the most important piece of the report.

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<v Speaker 1>None of them individually is sufficient. Right, we want to

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<v Speaker 1>talk I want to talk a little about the finance

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<v Speaker 1>sector because I feel that I'm just kidding all right, listen, listen,

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<v Speaker 1>But I feel like we have silky stories that come

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<v Speaker 1>out about fintech startups, uh, and we see more and

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<v Speaker 1>more technology invading the financial space. What was it the

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<v Speaker 1>story that we had about like, oh Trader's bonuses, like

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<v Speaker 1>that's that culture is going away because there's a lot

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<v Speaker 1>more technology involved in the trading realm. So like, what

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<v Speaker 1>do you guys see one thing is fascinating. The trend

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<v Speaker 1>isn't about this point, but it's very real. When you

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<v Speaker 1>think about digital transformation into the finance organization is a

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<v Speaker 1>huge potential that doesn't often get the attention. This trend

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<v Speaker 1>is is the convergence of with the need to drive

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<v Speaker 1>investments in emergency tech and new ways of innovating with

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<v Speaker 1>the realities of the CFO c I, a relationship historically

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<v Speaker 1>hasn't been the strongest. You know, there's a bit of

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<v Speaker 1>unflict still with everything that's gone on, Well, what do

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<v Speaker 1>I feel like the the Chief Information Officer now has

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<v Speaker 1>a seat at the table they do and and the

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<v Speaker 1>beauty is the CFO was becoming a part of the

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<v Speaker 1>discussion of how do we fund these investments, how do

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<v Speaker 1>we think about our technology spending in a different way

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<v Speaker 1>not too long ago as all, how can we squeeze

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<v Speaker 1>the cost and how do we drive efficiency and efficacy?

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<v Speaker 1>And the whole trend is about, hey, how do we

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<v Speaker 1>actually think about more agile funding, different funding methods And

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<v Speaker 1>we had before you know, if finance is a constraint

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<v Speaker 1>the funding angle of the capital we have to deploy,

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<v Speaker 1>how do we optimize that impact and return not try

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<v Speaker 1>to minimize the expenditure. Right, So it's almost flipping it

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<v Speaker 1>on that side of a successful organization that's healthy is

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<v Speaker 1>actually spending more in technology, not less so as you

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<v Speaker 1>go through your job, and I was reading a little

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<v Speaker 1>bit about you before we started the interview, this idea

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<v Speaker 1>that you're not just talking like CTO to ct O anymore.

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<v Speaker 1>I feel like part of your job is really talking

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<v Speaker 1>to the CEO who he or she has to be

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<v Speaker 1>much more, not just conversive, but maybe fluent in in

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<v Speaker 1>what you do A thousand percent well, we use the

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<v Speaker 1>term tech fluency tech savv nous and it started with

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<v Speaker 1>something within the tech cord to understand what was happening

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<v Speaker 1>in these emerging areas. It now has shifted squarely into

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<v Speaker 1>the CEO, the C suite, the board. Like last week,

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<v Speaker 1>I hosted twenty five board members at c e S

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<v Speaker 1>a curated experience and it wasn't about what specifically on

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<v Speaker 1>the floor might trigger an idea back in their business.

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<v Speaker 1>Is more a great personification of all the change happening,

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<v Speaker 1>and what is the responsibility. You know, it's not enough

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<v Speaker 1>to have a tech committee and say it's someone's responsibility

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<v Speaker 1>that's thinking about this. It is that shared fluency of

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<v Speaker 1>oversight at the governor's level front and center, strategy relevancy,

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<v Speaker 1>how do you compete? And at the c suite that

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<v Speaker 1>the c i O was a central part of the equation.

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<v Speaker 1>But it's not just the tech exect job anymore. Well,

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<v Speaker 1>because presumably if you're a board member, you are much

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<v Speaker 1>more concerned in the world of cyber attacks, in the war,

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<v Speaker 1>in a world of much more complex technology. You can't

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<v Speaker 1>now be in a position where if something bad happens,

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<v Speaker 1>you can't just sit in the board and be like,

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<v Speaker 1>I don't understand one of these guys are talking about, right,

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<v Speaker 1>and I didn't. Okay, the spending on improving the assistance well,

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<v Speaker 1>and and then take that to the next level of

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<v Speaker 1>and how are we making investments to be relevant for tomorrow?

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<v Speaker 1>Which is the strategic angle that's the most important to me. Yeah, exactly, exactly,

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<v Speaker 1>all right, fun, thank you so much for stopping by

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<v Speaker 1>Bill Briggs, Chief Technology Officer Delate Consulting here in our

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<v Speaker 1>Bloomberg Interactive broker's studio,