Traditional Companies Lead Tech

Shaan Puri shares his surprise and insights about traditional companies embracing advanced technology, specifically focusing on Chick-fil-A's technological innovations and what this means for the consulting industry.

Key Points:

• Chick-fil-A's Tech Innovation:

  • Uses 100+ smart devices in stores
  • Implements machine learning algorithms
  • Helps $16/hour frontline workers be more effective
  • Aims to increase sales per square foot

• Business Opportunities:

  • Engineers should spin out of Chick-fil-A and offer their tech as a service to other restaurants
  • Could generalize their $50M tech investment into a product for any restaurant chain
  • Traditional companies struggle to compete with tech giants for talent

• Traditional Companies in Tech:

  • Walmart created successful "Walmart Innovation Lab" in Silicon Valley
  • Chick-fil-A is the #1 most loved brand among young people
  • Traditional companies are embracing technology more than expected

• Future of Tech Consulting:

  • Need for a new type of consulting firm focused purely on tech
  • Should be different from McKinsey/Deloitte/PWC
  • Staffed by engineers, not traditional consultants
  • Focus on machine learning and AI implementation
  • Engineers who actually build solutions, not just make presentations
  • Need to brand differently from traditional consulting firms
  • All employees should have computer science degrees
  • Potential to become a "Big Four" type company focused solely on engineering

• Evolution Path:

  • Could start as a consulting agency
  • Eventually develop into a software company
  • Provides straightforward path to bootstrap a software company