McRock's 2023 Digital Industrial Symposium

McRock’s 10th Digital Industrial Symposium

DI and VC stars came together for the season’s biggest meeting of the minds

Montreal, Canada

June 7, 2023

KEYNOTE SPEAKERS

Meeting Today’s Demands Sustainably for Tomorrow

Industrial software powerhouse Antonio Pietri says global sustainability and operational efficiency go hand-in-hand

AspenTech President and CEO Antonio Pietri kicked off the Symposium with lessons learned from their experiences identifying and acquiring tech firms to complement their core DI offering. And then he got into the meat, arguing a major opportunity for industrial businesses lies in aligning their sustainability and profit goals with greater efficiency. He pointed to research showing 40 percent of greenhouse gas reductions come from streamlining operations to minimize waste, cut worker downtime, extend asset life cycles, and more. McRock couldn’t agree more…just look at our latest RI Report!

KEYNOTE HIGHLIGHTS

The audience was laser focused on hearing what this one-time entrepreneur turned powerhouse DI leader had to share from his experiences and what he sees for the future. AspenTech is definitely poised to pounce on opportunities facing our industry.

Asset-intensive businesses need to keep on their toes in order to adapt to a regular and rapid cycle—every two to three years —of significant macro-disruptions. Is it just us or do those waves of change seem to be coming faster and faster?

The next generation of workers and consumers alike will embrace tech-centric operations, including AI innovations. Businesses like AspenTech will be ready and succeed as long as they don’t lose sight of the risk-reward balance; he used their May launch of a Generative AI policy to do just that.

Antonio Pietri

The Next Wave of AI Tech is Prompt-based

AI is everywhere, and for good reason

Andrew Ng’s name is almost synonymous with AI The man is a pioneer both in machine learning and online education He has literally changed countless lives through his work in AI, authoring or co-authoring more than 100 research papers in machine learning, robotics, and related fields. He now focuses his time looking for the best ways to accelerate responsible AI practices in the larger global economy, all while leading his latest startup–Landing AI. And luckily for us, he agreed to speak at the Symposium about why it feels like AI is everywhere these days. Spoiler alert: it’s because it is.

KEYNOTE HIGHLIGHTS

AI was once perceived as a super-niche and highly specialized innovation used only by tech giants. But that’s no longer accurate AI has quickly evolved into what Andrew described as “general purpose tech” it unlocks opportunities in countless industries for businesses big and small, including the industrial sector.

The big difference between consumer and industrial markets for AI is that the industrial environment is heterogeneous–vast and diverse–and represents multi-million dollar opportunities for anyone looking to apply AI innovations.

We love a good “Show and Tell” moment! Ng conducted a live AI demonstration for the audience that once would have taken months to complete but can now be executed in just minutes. We didn’t capture any pics of jaws hanging open, but trust us, there were

Andrew Ng

PANELS

We packed a lot of learning into this Symposium!

We brought together some of the industry’s top minds for a series of panels on the most topical issues facing the Digital Industrial world. There was something for everyone, with sessions on the potential for connected worker innovations, how industrial software may be on the verge of overtaking enterprise software (gasp), and how industrial businesses can and should embrace digital technology as a strategy for sustainability. The panels were moderated by McRock and included thought-provoking discussions, personal insights, thoughtful responses to questions from delegates these panels had it all!

PANEL RECAP

The Connected Future of Industrial Workers

Hearts will always be in humans and will forever have a place in industry, especially when they embrace technology robotics can help make our tradespeople hundreds of times more powerful

Question: With AI and robotics, how will robots and people coexist? Answer: A hybrid environment. Better tools and control systems to optimize efficiency, but never completely remove people

Like the first industrial revolution, change is hard. It's the same in the DI revolution People will resist so we need to take a pragmatic approach when adopting new technologies

Generative AI is here In the short term it can be used in training. In the long term for product development and operations optimization. We’ve only seen the tip of the AI iceberg

oding the Industrial Software Landscape

Industrial Software is getting SaaSy. And it's a $250 billion market according to the latest Bank of America report.

orm shifts are creating opportunities. Cloud and SaaS solutions will transform trial operations with tools to strategize, electrify and carbonize

hift is a work in progress, and the challenge is getting the pricing and ess models right It’s more complicated than you think

s the time for Industrial Software It has PURPOSE to help save the planet It attracts outh There are huge opportunities to replace pen and paper with Industrial Software s 'invade the space' to make it happen.

PANEL RECAP

Digital Tech for a Sustainable Future

The new “it” couple coming out of the Symposium? It’s Digital Transformation (DX) and Carbon Transformation (CX) coming together for the most efficient and sustainable industrial operations of our lifetime.

No industry will be untouched by this wave of innovation AI, blockchain, and traceability are being used to address climate change in agriculture; and computer visioning and AI are addressing climate change in traffic management.

The market is ready and investors see the opportunity. AI tech companies are accessing capital from the likes of Goldman Sachs and their $1B sustainability fund.

The common thread? Companies wanting to jump on the DI/Sustainability bandwagon must have a solid underlying business that delivers financial return as well as a benefit to the climate

SPEED PITCHING

Imagine speed dating, but with eager DI innovators and sharpeyed investors around the tables Lots of excitement and nerves, but fewer cocktails And definitely less drama

We invited a select group of start-up entrepreneurs to make their best elevator pitches to some seasoned investors who know a thing or two about spotting potential. And then we sat back to see if any sparks started to fly. It’s too early to tell if we made any solid matches, but we promise to report back if we hear anything!

We played matchmaker with our Speed Pitching Session THANK YOU

to our valued Sponsors!

Pulling off the DI event of the season takes a lot of work, and we couldn’t have done it without the tremendous support of our Sponsors. We thank you for seeing the value of this event and the opportunity it created to bring our industry together for sharing, learning and having some fun, too

McROCK CLIMATE ACTION AWARDS

Mitsubishi and Miovision are first-ever recipients of the McRock Climate Action Awards

Corporate Leader of the Year

Kentaro Kodaka – Deputy General Manager, Digital Service Business Development Team, Infrastructure Solution Department, Plant Engineering Division, Mitsubishi Corporation

Tech Company of the Year

Adelaide Denison, Head of Sustainability, Miovision

These guys are too busy doing their thing—improving the state of the world for the rest of us—to be tooting their own horns. So we’re doing it for them.

We established the McRock Climate Action Awards to draw attention to how digital transformation is driving the industrial carbon transition and to spotlight the DI innovators who are making real progress in our collective efforts to find solutions for global climate change. Corporate Leader of the Year is awarded to a corporation that has exhibited innovative approaches and initiatives, and substantial commitment in promoting environmental friendliness and advancing sustainable development. Tech Company of the Year is awarded to a privately-owned emerging company that has shown tangible achievements in delivering digital solutions that drive climate impacts.

Thank you to our panel of independent judges that included Alison Nankivell, Senior Vice President, Funds and Global Scaling, BDC Capital, Rachel Guthrie, Vice President, Corporate Sustainability Group, EDC, and Michelle de Cordova, Principal, ESG Global Advisors.

To read more about the McRock Climate Action Awards and the 2023 recipients, visit the McRock Blog.

THE TAKEAWAY

This event ROCKED!

Thanks to all the speakers, panellists and delegates who helped make this event a massive success.

The new connections made, the knowledge shared and the mountain of optimism we are bringing back with us each supports our work to change the world with innovation and a laser-like focus on responsible investing

And one last shout out to Elijah Holmgren who rocked us out with his incredible talent. His fresh take on classic rock really helped us stick the landing on the fun factor–something you can always expect from McRock!