Innovative spirit and use of technology in Silicon Valley: A report by CEO Michaela Schenk
Technology integration, mindset and networking at the heart of the digital revolution
Our Managing Director Michaela Schenk recently visited Silicon Valley and gained valuable insights into the current technology and innovation landscape. The visit took place as part of an exclusive event for 2021 innovation award winners, which only 20 managing directors of the award-winning companies were allowed to attend. This event provided a unique opportunity to engage with industry leaders and learn about the latest trends and technologies.
In this post, we share Ms Schenk's key insights and highlight how they apply to our company. From the integration of artificial intelligence into everyday working life to the importance of an open mindset and the strong networks that characterise Silicon Valley - the impressions gained are incredibly diverse!
Technological integration: Artificial intelligence as a key technology
The technological landscape of Silicon Valley is characterised by the deep integration of artificial intelligence (AI) into everyday working life. Companies are working hard to seamlessly integrate AI into their software solutions. One outstanding example of this is SAP, which uses AI to optimise HR processes.
SAP's HR tool is an impressive example of how AI is revolutionising the world of work. This tool automatically generates job advertisements and selects incoming applications based on predefined criteria. The AI can adapt these criteria if necessary and make the entire applicant selection process more efficient. The rejection and invitation process is also fully automated, which not only saves time but also improves consistency and fairness in the application process.
It is essential that software manufacturers take responsibility for integrating such innovative solutions into their products. However, as long as data is not digitised and available in the cloud, this will remain a major challenge. The digitalisation process must therefore be accelerated in order to exploit the full potential of AI. Without a solid digital foundation, AI systems cannot learn and develop effectively. This underlines the need to drive the digitalisation process forward and eliminate paper-based systems.
Mindset: Openness and a willingness to experiment
The American mentality in Silicon Valley is characterised by an open, experimental attitude. It is about trying out ideas and learning from mistakes instead of being restricted by obstacles and concerns.
A striking example of this difference in mindset is the development of Airbnb. While many Europeans were sceptical about the idea of renting out private rooms to strangers and were afraid of the potential risks, Americans saw it as a great opportunity. This openness and willingness to try out new concepts has made Airbnb a global success. This mindset, known as "Yes, and...", is in contrast to the often sceptical "Yes, but" in Europe. It encourages innovation and enables new ideas to be developed more quickly and effectively.
The "fail fast" philosophy emphasises that you learn by failing and that it is important to learn quickly from mistakes and move on. This culture of trial and error and learning is deeply rooted in Silicon Valley. You learn not only through success, but above all by overcoming challenges and crises. A vivid image of this is that of a child learning to walk. It often falls down, but always gets up again and eventually learns to walk. This principle can also be applied to the world of work: failure should not be seen as a failure, but as a necessary step in the learning process.
Another remarkable concept in Silicon Valley is "pay it forward". People help each other without immediate reciprocation, in the belief that everything will come back to them at some point. This attitude encourages the exchange of ideas and innovations and creates a supportive network in which everyone can benefit from the experience and knowledge of others. Michaela Schenk has found this philosophy very inspiring and sees it as an important approach for our own company.
Silicon Valley: a network of innovation and capital
In Silicon Valley, an immense amount of capital flows into start-ups, backed by venture capital firms that invest billions of dollars. The focus is not only on the technology, but also on the market potential and the personality of the founders. Venture capital firms invest in a large number of start-ups in the hope that one of them will be so successful that it will pull the others along with it. This model enables innovative ideas to be scaled up and realised quickly.
Silicon Valley is also known for its dense network of universities, companies and investors. Universities such as Berkeley and Stanford play a central role in the innovation network. They work closely with companies and attract talented professionals who often stay in the Valley and move to large technology companies such as Amazon, Apple, Google or LinkedIn or found their own start-ups. This collaboration between academic institutions and industry creates a unique environment in which innovation can flourish.
Final thoughts
Michaela Schenk's visit to Silicon Valley has shown how important it is to be open to new ideas and technologies. The integration of AI, openness to experimentation and the strong network of investors and innovators are key success factors. It is now our task to transfer these insights to our company and integrate the principles of Silicon Valley into our way of working.
One of the biggest challenges will be to drive forward digitalisation and eliminate paper-based processes. This is the only way we can utilise the full potential of AI and make our workflows more efficient. At the same time, we must learn to promote a culture of experimentation and learning in which mistakes are seen as valuable learning experiences.
Another important aspect is building and maintaining a strong network. By sharing ideas and experiences, we can gain new perspectives and develop innovative solutions. The philosophy of "pay it forward" can help us create a supportive environment in which everyone can benefit from the strengths and knowledge of others.
How can we embed the innovative spirit of Silicon Valley in our company? Feel free to share your ideas with our team and let's shape the future together!
