Wearables – Current developments on the path to relevant applications
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Andrae, Thomas
The key question is: "How can we turn data into actionable information?" Based on the larger scope of discussions around quantified self and ever increasing levels of contextuality between systems, the presentation will focus on the key question how to turn data into actionable information.
 Hi, welcome everybody. My name is Thomas Andre. As I said before, I'm in charge of the global operations for 3M New Ventures, which is the venture capital arm of 3M. Most of you may know 3M by the means of Post-It or Scotch Tape, but certainly we do much more. We are a very broadly positioned industrial company that provides for products that go into smartphones, computers, airplanes, satellites, whatever you think. It's specific adhesives. It's about connectors for the electronics industry. It's about graphical films that are used in cell phones in order to improve display quality, et cetera, et cetera. So a very broad range of products. And the group that I'm leading, 3M New Ventures, it's about 30 people located worldwide in six offices, headquartered in Munich and in Berlin in Germany, not in Minnesota where 3M comes from. And what we are trying to do is we are trying to find the next big thing in our context, which is material science. So we're looking at startups at MIT and other places worldwide where we deem the right ideas to be happening. I'm going to give you some examples later on in my speech. I didn't want to bother you with slides. I just want you to concentrate on actually two stories that I like to tell you. So you get a much better hold around what we do, how we do it, and where we are trying to get to with this endeavor. The unit was started seven years ago, and up until now, we have invested in roughly 40 companies that currently represent the net asset value of roughly half a billion US dollars. So given the size of our company, this is a pretty sizable stake that we have invested, and we have actually taken this money from our own R&D budget and allocated it to external venturing. So the model that you usually see in pharmaceuticals, for example, where you will find that companies like Novartis or Roche are investing in startups and in companies that have come a certain way through the FDA approval process. And we are doing this more and more. And you also see other industrial companies doing this to a greater extent on one side to drive innovation and get some more speed into the processes, but also to really connect to external thinking in a meaningful way by the means of venture capital investment, but certainly also by replicating their technology into those ideas of the startups. So what we are trying to apply is a very compassionate approach with the companies that we are financing in order to help them to kind of accelerate their ideas faster and come to solutions that may impact the market at an earlier stage compared to if they would develop things on their own. Still, in order to keep options for exit, we are basically working on, based on standard Silicon Valley term sheets, which means that there are no options for us to buy those companies, no hardly tied options, just soft options that would allow certainly going forward for us to acquire the company, but we would like to keep it open in order to keep up the spirit and the energy in the company that we are investing in in order to develop their own ideas. And if you take a look at the metrics behind it, out of this 40 companies, we may acquire at one day probably four to six, not more. That's kind of the industry standard because especially when you invest early stage, the idea of the startup may deviate from your own ideas and from your own business. On the other side, it may inspire our businesses to move into new fields and that's what we are trying to foster and really push forward from 3M's perspective and it's actually working out quite well. And today, I'm talking about variables and ideas that kind of will be on your body or even in your body going forward and I'm going to give you some background stories that do relate to 3M on one side but also in general to the development of business that we currently see worldwide. Some of those points will be assumptions, some of them will be hard facts and I suppose when you follow my talk, you will be able to distinguish in between the assumptions and the hard facts. Sometimes you won't perhaps but this makes it I think even more interesting. Okay, so let me tell you the first story. And it started at MIT roughly three years ago when we identified at the labs of Professor Bose who also started this famous loudspeaker company. Unfortunately, he died like six months ago but at his lab, there was a company that started roughly two, three years ago called Portal Instruments and this company Portal Instruments has developed an idea based on a moving coil which is the standard principle of a loudspeaker and what it does, this device that is about the size of this microphone takes a certain amount of medication, let's say it's insulin for diabetes treatment from a certain tank that has been attached to the device. It's putting this liquid under extreme high pressure and then it's shooting the liquid through a nozzle that is a laser shaped little like nozzle in the front of the device then through your skin and into your blood path or into your tissue. So basically it's a device in order to provide for a needle free injection of medication into your body. And if you take this one step ahead and this is certainly what we're always trying to do in order to push the envelope and you connected to the idea that Google made prominent roughly two years ago which is this sugar level sensing contact lens that I'm sure many of you have heard about. This device is actually sending out via low power Bluetooth triggered by an external stream of energy. Every 15 minutes the blood sugar level of the person that is wearing this contact lens to a specific device that may be your smartphone but it may also be the device that I just talked about that may be fitted to your upper arm with a velcro strap. So you have it permanently attached to your body which is also a variable of some kind but it's an active variable that does something with your body. So if you close the loop in between those two devices the contact lens and this device by portal instruments that may be fitted to your upper arm suddenly you have closed loop blood sugar diabetes treatment which is affecting roughly 400 million people on the planet. So ideas like those we are trying to accelerate and develop. For the most part we are not doing this by ourselves. In this case we are working together with Sanofi and Genzyme who are basically working on the pharmaceutical side of things in order to make sure that the viscosity of the liquid works with the system and can be injected in your body. On the other side we are working with partners on the data side of things because you can imagine that such a system will collect enormous amounts of data around patient compliance and what then happens to the body whether there are certain algorithms you should apply in order to even better regulate the amount, how often you should inject per day, etc. This device is in fast-track FDA approval right now in the United States and should be approved within the next one and a half to two years and will then be put onto the market. Probably not initially in the shape and form that I just described but this will come pretty soon after in order to basically then also address a very broad market with significant needs around that. This is kind of stage number one. Stage number one and stage number two. Stage number one would be the actual device. Stage number two is the connection to the contact lens. The next stage would be the data side of things to make sense of the data that is coming out of that in order to even further improve the system and make it more accessible, more tangible and derive really actionable information from it in order to make sure that you're really building an ecosystem that works. The next step would be, and I don't know how many of you here have heard about Calico, this initiative by Bryn and Page of Google who apparently founded it with a pretty significant amount of money out of their own pocket, not out of Google's pocket. The sole endeavor is being headed by Art Levinson who is also the chairman of Apple who used to be in a very significant function at Roche and is kind of somebody who really understands the in-between consumer electronics, pharmaceuticals, healthcare in general. This individual actually called two people in the advisory board of Calico which is Bob Langer of Harvard. He's running the medical department in Harvard and Ian Hunter of MIT who basically took this seat of Professor Buse. We do a lot with MIT because MIT is about material science and 3M is also about material science. We attached ourselves quite closely to this idea and also came up with a point because in the end Calico is about customized nutrition and customized medicine that it may make sense to use the device that I just described to you in order to provide customized medicine into the human body under full compliance. Again with a device that is kind of attached to your skin and certainly will grow smaller and smaller going forward. This device then may be connected not only to a blood sugar level sensor but to another sensor that may have been injected under your skin. I know it sounds like science fiction but this will become quite normal within the next five to ten years. Based on this data and the analytics of this data, you will be able to receive specific medicine during the cost of the day in order to condition your body in the perfectly right way. Certainly only for people who need it. It's not for everybody but something that will play a significant role in the treatment of specific diseases going forward. That we think Calico will also find out about because they are now driving a huge effort to better understand the mathematical correlation between the human genome and the human phenome in order to in the anti-velop medicine that is perfectly customized to your body. The other part being customized nutrition where we see that going forward you will have a little device on your kitchen top like today. You may have an espresso machine where you just push a button in the morning at the device based on five cartridges or six cartridges that are inserted into the device will give you a specific drink that you drink every morning in order to fill certain reservoirs in your body whether it may be certain enzymes or vitamins or other things your body needs by the push of a button based on data from your quantified self. Again, sounds like science fiction but I think it's something that we're going to see also within the next five years and that will drive a huge difference because people will I think make a huge effort in order to live more healthy to live longer. The actual imperative that Bryn put out was that he said basically we want people to live for 140 years healthy which is something they are saying they should be able to achieve within the next 10 years. So let's stay tuned on that. It has a lot to do with variables. It has a lot to do with data and certainly also a lot to do about the subject matter how you turn this data into actionable information. When you talk about variables and that's something that we always claim because we do have quite some of those products into the market attaching a sensor in a garment or wherever else or even inside of your body that's nothing new. We're talking about more or less commodities that are attached to your body in a certain way into a garment or something. It turns interesting when you look at again the data site how you turn the data that is being generated by those sensors into true actionable information. How do you figure out what the data is really telling you in the context of all the sensors that are at this very moment in time in a position to gather certain data about yourself and about your surroundings. In terms of venture capital and in terms of companies that are being financed currently we saw quite some buzz around IoT and the actual sensors. But what we see now is a massive interest in companies for the most part based on artificial intelligence to turn the data into actionable information. Those companies are especially in North America especially actually in California right now popping out like I've never seen it before really because they will then really make a difference. I don't know whether some of you saw there was a graph published by a variable device manufacturer that put out a graph that talked about a certain like now it would make sense to have a slide but basically it's a graph that tells you that something happened at 3 a.m. in the morning at a different level of magnitude in different regions. So basically what you would be looking at is earthquake data from California and the epicenter apparently was where most of those users of this device woke up during the middle of the night. And then you can also tell about the distribution of the earthquake because a certain smaller number of people woke up in other areas. So basically the system without ever having been intended for this purpose gave you real time earthquake data in California which was deemed to be some really relevant point because even the state owned authorities, the official authorities who were supposed to report about this were minutes later. Prior to this device maker who has certainly all this data made abstract and user agnostic can precisely tell you where it happened, when it happened and what the extent was. So this is again another play that we clearly see happening that will also change many areas of the industry but again the most important factor being the correlation between the data and the actual action that is supposed to happen later on. So that's one point I like to create some awareness about because very often we get approached by people who say, hey, I have a certain idea so how do I make this happen on the hardware side? And as I said, this is something that I deem to be quite simple and quite straightforward because you can get this at the electronics store around the corner and then if you have a really good application and you want to mass market it, just make it smaller, package it in a different way, make it as sustainable as possible and as long lasting as possible and then take it out to the market. That's nothing special, nothing new. There are companies that will support you in this effort here in Europe or in China depending on the scale that you're looking at. Again said, the interesting part being the software that turns this into an application or even into an ecosystem. That's the big change that we're seeing. Another interesting point in terms of where things are going with variables is when you, for example, look at Facebook's Oculus Rift device and all those other variable devices that give you a complete scope of video or pictures including audio, for example. There on this front there's also lots happening. I don't know how many people here tried out Google Glass in its first version which is from my perspective was more or less a prototype but started the ecosystem around glasses that kind of interact with you in a way that even like you become contextual every minute when you're wearing them, certainly there will be next versions of Glass because the existing version for the most part sees industrial applications. Many people think that Glass wasn't really a success because now also Google basically took it away from the market and private individuals cannot really buy it anymore. But when you look at the commercial success of Glass in companies like Schlumberger or GE or others, they are ordering Glass even in the existing version in quantities of thousands in order to use this product for repair processes, for like let's say aircraft engines for example, the engineer who is repairing the engine gets direct advice around like what area to work on next, which screws to untie, which part to replace, etc. And in parallel the whole thing is being videotaped. So going forward if you see an issue happening with this engine, I don't know, six months later, you can precisely look what happened during the time of repair which is really of very huge importance to the device makers because in the end they don't sell you an aircraft engine anymore, they sell you a runtime of aircraft engines. So basically what you buy yourselves into with GE or Rolls Royce today is one hour of a running engine that is flying transatlantic or wherever. And in order to support those business models, you need to have a product that lasts, is very reliable and has maintenance windows that can be easily attached to the schedules of the actual device. So when you look at for example one of those GE90 engines when they are flying transatlantic, they are generating gigabytes and gigabytes of data which are being sent to the operation centers of GE on one side, but certainly also to the aircraft operator which is Lufthansa for example here in Germany. And given the fact that those devices are so heavily censored and in the end then also are able to send this data to an operation center, certain anomalies can be detected by analyzing the data. Again it's about data analytics that tell you whether a certain fan part in this engine apparently has some malfunction because at the tip of the fan there are I don't know four Fahrenheit more compared to all the other fan tips in this engine. So what they're now working on and I've actually seen that working live and I couldn't really believe it is once such an anomaly is detected that at the destination of the aircraft, while it's let's say it's flying from Frankfurt to Beijing, at the moment where this is detected and identified as a failure, the power output of the engine is probably reduced to 70%. The aircraft continues to fly to Beijing and once it has landed, the 3D printer from EOS, a German company just outside of Munich, has finished printing the titanium part, the titanium fan that will be put into the engine. This is not really something around variables but it tells you what context can do going forward. So basically when the aircraft lands it will be pulled into the service hanger, the engine compartment will be opened, they take out this one fan that has reported this anomaly, put in the new one that just finished printing because today you can actually print a turbine fan out of titanium within like four or five hours that works and it's being used. And this tells you how things will grow in terms of the context that's generated around them and how I wouldn't say easy but how straightforward such processes will be going forward. When you integrate everything and when you have this machine to machine communication that is enabled to identify what kind of an action needs to happen. And what I just said in terms of me not really believing that this is possible, I just visited the engineering labs of EOS, the company is called Electro Optical Systems and they are one of the most advanced companies in the world in terms of 3D printing and laser centering and then they explain to me that their fan blades for turbines are even more advanced than the standard ones that are just basically injection molded out of titanium or molded out of titanium because their blades are hollow on the inside because given certain 3D manufacturing processes you can basically calculate the fan in a way that the inner area is partially hollow in order to save weight because every moving part of an engine consumes more aircraft fuel compared to having a solid part. And so going forward we may see aircraft engines where the complete components that are moving are 3D printed just for the sake of weight reduction. So that's another imperative that is coming right after the idea of 3D printing which we are certainly also looking at from 3M's perspective in order to provide materials to enable this to happen because we see this as a huge paradigm shift in the industry because in the end when you look at additive manufacturing and all the implications of it we see it significantly changing the world which also relates to the fact that in our universities we have to educate the students in a way that they really understand what additive manufacturing means. I'm an engineer myself, I got educated in a way that you take a solid piece of metal, you take a tool and then you start like removing what you don't need for the actual application. But now going forward having very advanced systems that allow you to construct for example such fan blades in a completely different way based on hugely sophisticated software systems basically explain to you where things will go. Also in other industries aerospace and aircrafts will be first but on the other side I clearly see that industries like Automotive for example will follow pretty quickly also in order to come to a less costly approach around light weighting. Okay, I just saw I have three minutes left. Shall we open it up for discussion for some questions right now? Yep. Hi Jessica Berlin, founder of Berlin Bridge and I'm wondering regarding the medical technologies you mentioned to what extent are the market leaders looking at developing these for emerging economies and developing markets or anywhere where communities don't have access to health services or trained doctors? It's a very good point that we always especially in our venturing unit pay a lot of attention to not to leave people out that are usually left out and we would never ever find these ideas that are outside of our ethical scope that's imperative number one and we are really very evangelistic about this which sometimes is hard to argument in a company that sits in the middle of the Midwestern part of North America very conservative but we do not we say no no we need to keep a straight line here which is very important so we have financed companies that grow mushrooms at industrial scale for packaging purposes. My CEO called me crazy when I explained to him what we want to do and he said hey Thomas are you serious about moving 3M into growing mushrooms on industrial scale? Holy cow. But then I demonstrated to him how this works and other applications that were as well in terms of like high density boards and actually pretty interesting applications also for countries where you may use this concept in order to grow bricks and build a house and it works and it actually works pretty well and it's at extremely low cost because all you need are the mushroom seeds which is a liquid it's nothing special and then you can start growing it in five days and then you have I don't know 10 days later you have a house. And so we are trying to look at that of course we have certain limitations but also when it comes to like medical applications we are always looking at cost which is a key driver no matter what and at the applicability in other areas as well because going forward if you have such a system that automatically guarantees you compliance because it's attached to your body and the sensor in your body will tell or the sensor outside of your body will tell what it does I think it will take us a long way.
 Hi, welcome everybody.  My name is Thomas Andre.  As I said before, I'm in charge of the global operations for 3M New Ventures, which is the  venture capital arm of 3M.  Most of you may know 3M by the means of Post-It or Scotch Tape, but certainly we do much more.  We are a very broadly positioned industrial company that provides for products that go  into smartphones, computers, airplanes, satellites, whatever you think.  It's specific adhesives.  It's about connectors for the electronics industry.  It's about graphical films that are used in cell phones in order to improve display  quality, et cetera, et cetera.  So a very broad range of products.  And the group that I'm leading, 3M New Ventures, it's about 30 people located worldwide in  six offices, headquartered in Munich and in Berlin in Germany, not in Minnesota where  3M comes from.  And what we are trying to do is we are trying to find the next big thing in our context,  which is material science.  So we're looking at startups at MIT and other places worldwide where we deem the right ideas  to be happening.  I'm going to give you some examples later on in my speech.  I didn't want to bother you with slides.  I just want you to concentrate on actually two stories that I like to tell you.  So you get a much better hold around what we do, how we do it, and where we are trying  to get to with this endeavor.  The unit was started seven years ago, and up until now, we have invested in roughly  40 companies that currently represent the net asset value of roughly half a billion  US dollars.  So given the size of our company, this is a pretty sizable stake that we have invested,  and we have actually taken this money from our own R&D budget and allocated it to external  venturing.  So the model that you usually see in pharmaceuticals, for example, where you will find that companies  like Novartis or Roche are investing in startups and in companies that have come a certain  way through the FDA approval process.  And we are doing this more and more.  And you also see other industrial companies doing this to a greater extent on one side  to drive innovation and get some more speed into the processes, but also to really connect  to external thinking in a meaningful way by the means of venture capital investment,  but certainly also by replicating their technology into those ideas of the startups.  So what we are trying to apply is a very compassionate approach with the companies that we are financing  in order to help them to kind of accelerate their ideas faster and come to solutions that  may impact the market at an earlier stage compared to if they would develop things on  their own.  Still, in order to keep options for exit, we are basically working on, based on standard  Silicon Valley term sheets, which means that there are no options for us to buy those companies,  no hardly tied options, just soft options that would allow certainly going forward for  us to acquire the company, but we would like to keep it open in order to keep up the spirit  and the energy in the company that we are investing in in order to develop their own  ideas.  And if you take a look at the metrics behind it, out of this 40 companies, we may acquire  at one day probably four to six, not more.  That's kind of the industry standard because especially when you invest early stage, the  idea of the startup may deviate from your own ideas and from your own business.  On the other side, it may inspire our businesses to move into new fields and that's what we  are trying to foster and really push forward from 3M's perspective and it's actually working  out quite well.  And today, I'm talking about variables and ideas that kind of will be on your body or  even in your body going forward and I'm going to give you some background stories that do  relate to 3M on one side but also in general to the development of business that we currently  see worldwide.  Some of those points will be assumptions, some of them will be hard facts and I suppose  when you follow my talk, you will be able to distinguish in between the assumptions  and the hard facts.  Sometimes you won't perhaps but this makes it I think even more interesting.  Okay, so let me tell you the first story.  And it started at MIT roughly three years ago when we identified at the labs of Professor  Bose who also started this famous loudspeaker company.  Unfortunately, he died like six months ago but at his lab, there was a company that started  roughly two, three years ago called Portal Instruments and this company Portal Instruments  has developed an idea based on a moving coil which is the standard principle of a loudspeaker  and what it does, this device that is about the size of this microphone takes a certain  amount of medication, let's say it's insulin for diabetes treatment from a certain tank  that has been attached to the device.  It's putting this liquid under extreme high pressure and then it's shooting the liquid  through a nozzle that is a laser shaped little like nozzle in the front of the device then  through your skin and into your blood path or into your tissue.  So basically it's a device in order to provide for a needle free injection of medication  into your body.  And if you take this one step ahead and this is certainly what we're always trying to do  in order to push the envelope and you connected to the idea that Google made prominent roughly  two years ago which is this sugar level sensing contact lens that I'm sure many of you have  heard about.  This device is actually sending out via low power Bluetooth triggered by an external stream  of energy.  Every 15 minutes the blood sugar level of the person that is wearing this contact lens  to a specific device that may be your smartphone but it may also be the device that I just  talked about that may be fitted to your upper arm with a velcro strap.  So you have it permanently attached to your body which is also a variable of some kind  but it's an active variable that does something with your body.  So if you close the loop in between those two devices the contact lens and this device  by portal instruments that may be fitted to your upper arm suddenly you have closed loop  blood sugar diabetes treatment which is affecting roughly 400 million people on the planet.  So ideas like those we are trying to accelerate and develop.  For the most part we are not doing this by ourselves.  In this case we are working together with Sanofi and Genzyme who are basically working  on the pharmaceutical side of things in order to make sure that the viscosity of the liquid  works with the system and can be injected in your body.  On the other side we are working with partners on the data side of things because you can  imagine that such a system will collect enormous amounts of data around patient compliance and  what then happens to the body whether there are certain algorithms you should apply in  order to even better regulate the amount, how often you should inject per day, etc.  This device is in fast-track FDA approval right now in the United States and should  be approved within the next one and a half to two years and will then be put onto the  market.  Probably not initially in the shape and form that I just described but this will come pretty  soon after in order to basically then also address a very broad market with significant  needs around that.  This is kind of stage number one.  Stage number one and stage number two.  Stage number one would be the actual device.  Stage number two is the connection to the contact lens.  The next stage would be the data side of things to make sense of the data that is coming out  of that in order to even further improve the system and make it more accessible, more tangible  and derive really actionable information from it in order to make sure that you're really  building an ecosystem that works.  The next step would be, and I don't know how many of you here have heard about Calico,  this initiative by Bryn and Page of Google who apparently founded it with a pretty significant  amount of money out of their own pocket, not out of Google's pocket.  The sole endeavor is being headed by Art Levinson who is also the chairman of Apple who used  to be in a very significant function at Roche and is kind of somebody who really understands  the in-between consumer electronics, pharmaceuticals, healthcare in general.  This individual actually called two people in the advisory board of Calico which is Bob  Langer of Harvard.  He's running the medical department in Harvard and Ian Hunter of MIT who basically took  this seat of Professor Buse.  We do a lot with MIT because MIT is about material science and 3M is also about material  science.  We attached ourselves quite closely to this idea and also came up with a point because  in the end Calico is about customized nutrition and customized medicine that it may make sense  to use the device that I just described to you in order to provide customized medicine  into the human body under full compliance.  Again with a device that is kind of attached to your skin and certainly will grow smaller  and smaller going forward.  This device then may be connected not only to a blood sugar level sensor but to another  sensor that may have been injected under your skin.  I know it sounds like science fiction but this will become quite normal within the next  five to ten years.  Based on this data and the analytics of this data, you will be able to receive specific  medicine during the cost of the day in order to condition your body in the perfectly right  way.  Certainly only for people who need it.  It's not for everybody but something that will play a significant role in the treatment  of specific diseases going forward.  That we think Calico will also find out about because they are now driving a huge effort  to better understand the mathematical correlation between the human genome and the human phenome  in order to in the anti-velop medicine that is perfectly customized to your body.  The other part being customized nutrition where we see that going forward you will have  a little device on your kitchen top like today.  You may have an espresso machine where you just push a button in the morning at the device  based on five cartridges or six cartridges that are inserted into the device will give  you a specific drink that you drink every morning in order to fill certain reservoirs  in your body whether it may be certain enzymes or vitamins or other things your body needs  by the push of a button based on data from your quantified self.  Again, sounds like science fiction but I think it's something that we're going to see also  within the next five years and that will drive a huge difference because people will I think  make a huge effort in order to live more healthy to live longer.  The actual imperative that Bryn put out was that he said basically we want people to live  for 140 years healthy which is something they are saying they should be able to achieve  within the next 10 years.  So let's stay tuned on that.  It has a lot to do with variables.  It has a lot to do with data and certainly also a lot to do about the subject matter  how you turn this data into actionable information.  When you talk about variables and that's something that we always claim because we do have  quite some of those products into the market attaching a sensor in a garment or wherever  else or even inside of your body that's nothing new.  We're talking about more or less commodities that are attached to your body in a certain  way into a garment or something.  It turns interesting when you look at again the data site how you turn the data that is  being generated by those sensors into true actionable information.  How do you figure out what the data is really telling you in the context of all the sensors  that are at this very moment in time in a position to gather certain data about yourself  and about your surroundings.  In terms of venture capital and in terms of companies that are being financed currently  we saw quite some buzz around IoT and the actual sensors.  But what we see now is a massive interest in companies for the most part based on artificial  intelligence to turn the data into actionable information.  Those companies are especially in North America especially actually in California right now  popping out like I've never seen it before really because they will then really make  a difference.  I don't know whether some of you saw there was a graph published by a variable device  manufacturer that put out a graph that talked about a certain like now it would make sense  to have a slide but basically it's a graph that tells you that something happened at  3 a.m. in the morning at a different level of magnitude in different regions.  So basically what you would be looking at is earthquake data from California and the  epicenter apparently was where most of those users of this device woke up during the middle  of the night.  And then you can also tell about the distribution of the earthquake because a certain smaller  number of people woke up in other areas.  So basically the system without ever having been intended for this purpose gave you real  time earthquake data in California which was deemed to be some really relevant point because  even the state owned authorities, the official authorities who were supposed to report about  this were minutes later.  Prior to this device maker who has certainly all this data made abstract and user agnostic  can precisely tell you where it happened, when it happened and what the extent was.  So this is again another play that we clearly see happening that will also change many areas  of the industry but again the most important factor being the correlation between the data  and the actual action that is supposed to happen later on.  So that's one point I like to create some awareness about because very often we get  approached by people who say, hey, I have a certain idea so how do I make this happen  on the hardware side?  And as I said, this is something that I deem to be quite simple and quite straightforward  because you can get this at the electronics store around the corner and then if you have  a really good application and you want to mass market it, just make it smaller, package  it in a different way, make it as sustainable as possible and as long lasting as possible  and then take it out to the market.  That's nothing special, nothing new.  There are companies that will support you in this effort here in Europe or in China depending  on the scale that you're looking at.  Again said, the interesting part being the software that turns this into an application  or even into an ecosystem.  That's the big change that we're seeing.  Another interesting point in terms of where things are going with variables is when you,  for example, look at Facebook's Oculus Rift device and all those other variable devices  that give you a complete scope of video or pictures including audio, for example.  There on this front there's also lots happening.  I don't know how many people here tried out Google Glass in its first version which is  from my perspective was more or less a prototype but started the ecosystem around glasses that  kind of interact with you in a way that even like you become contextual every minute when  you're wearing them, certainly there will be next versions of Glass because the existing  version for the most part sees industrial applications.  Many people think that Glass wasn't really a success because now also Google basically  took it away from the market and private individuals cannot really buy it anymore.  But when you look at the commercial success of Glass in companies like Schlumberger or  GE or others, they are ordering Glass even in the existing version in quantities of thousands  in order to use this product for repair processes, for like let's say aircraft engines for example,  the engineer who is repairing the engine gets direct advice around like what area to work  on next, which screws to untie, which part to replace, etc.  And in parallel the whole thing is being videotaped.  So going forward if you see an issue happening with this engine, I don't know, six months  later, you can precisely look what happened during the time of repair which is really  of very huge importance to the device makers because in the end they don't sell you an  aircraft engine anymore, they sell you a runtime of aircraft engines.  So basically what you buy yourselves into with GE or Rolls Royce today is one hour of  a running engine that is flying transatlantic or wherever.  And in order to support those business models, you need to have a product that lasts, is  very reliable and has maintenance windows that can be easily attached to the schedules  of the actual device.  So when you look at for example one of those GE90 engines when they are flying transatlantic,  they are generating gigabytes and gigabytes of data which are being sent to the operation  centers of GE on one side, but certainly also to the aircraft operator which is Lufthansa  for example here in Germany.  And given the fact that those devices are so heavily censored and in the end then also  are able to send this data to an operation center, certain anomalies can be detected  by analyzing the data.  Again it's about data analytics that tell you whether a certain fan part in this engine  apparently has some malfunction because at the tip of the fan there are I don't know  four Fahrenheit more compared to all the other fan tips in this engine.  So what they're now working on and I've actually seen that working live and I couldn't really  believe it is once such an anomaly is detected that at the destination of the aircraft, while  it's let's say it's flying from Frankfurt to Beijing, at the moment where this is detected  and identified as a failure, the power output of the engine is probably reduced to 70%.  The aircraft continues to fly to Beijing and once it has landed, the 3D printer from EOS,  a German company just outside of Munich, has finished printing the titanium part, the titanium  fan that will be put into the engine.  This is not really something around variables but it tells you what context can do going  forward.  So basically when the aircraft lands it will be pulled into the service hanger, the engine  compartment will be opened, they take out this one fan that has reported this anomaly,  put in the new one that just finished printing because today you can actually print a turbine  fan out of titanium within like four or five hours that works and it's being used.  And this tells you how things will grow in terms of the context that's generated around  them and how I wouldn't say easy but how straightforward such processes will be going  forward.  When you integrate everything and when you have this machine to machine communication  that is enabled to identify what kind of an action needs to happen.  And what I just said in terms of me not really believing that this is possible, I just visited  the engineering labs of EOS, the company is called Electro Optical Systems and they are  one of the most advanced companies in the world in terms of 3D printing and laser centering  and then they explain to me that their fan blades for turbines are even more advanced  than the standard ones that are just basically injection molded out of titanium or molded  out of titanium because their blades are hollow on the inside because given certain 3D manufacturing  processes you can basically calculate the fan in a way that the inner area is partially  hollow in order to save weight because every moving part of an engine consumes more aircraft  fuel compared to having a solid part.  And so going forward we may see aircraft engines where the complete components that are moving  are 3D printed just for the sake of weight reduction.  So that's another imperative that is coming right after the idea of 3D printing which  we are certainly also looking at from 3M's perspective in order to provide materials  to enable this to happen because we see this as a huge paradigm shift in the industry because  in the end when you look at additive manufacturing and all the implications of it we see it significantly  changing the world which also relates to the fact that in our universities we have to educate  the students in a way that they really understand what additive manufacturing means.  I'm an engineer myself, I got educated in a way that you take a solid piece of metal,  you take a tool and then you start like removing what you don't need for the actual application.  But now going forward having very advanced systems that allow you to construct for example  such fan blades in a completely different way based on hugely sophisticated software  systems basically explain to you where things will go.  Also in other industries aerospace and aircrafts will be first but on the other side I clearly  see that industries like Automotive for example will follow pretty quickly also in order to  come to a less costly approach around light weighting.  Okay, I just saw I have three minutes left.  Shall we open it up for discussion for some questions right now?  Yep.  Hi Jessica Berlin, founder of Berlin Bridge and I'm wondering regarding the medical technologies  you mentioned to what extent are the market leaders looking at developing these for emerging  economies and developing markets or anywhere where communities don't have access to health  services or trained doctors?  It's a very good point that we always especially in our venturing unit pay a lot of attention  to not to leave people out that are usually left out and we would never ever find these  ideas that are outside of our ethical scope that's imperative number one and we are really  very evangelistic about this which sometimes is hard to argument in a company that sits  in the middle of the Midwestern part of North America very conservative but we do not we  say no no we need to keep a straight line here which is very important so we have financed  companies that grow mushrooms at industrial scale for packaging purposes.  My CEO called me crazy when I explained to him what we want to do and he said hey Thomas  are you serious about moving 3M into growing mushrooms on industrial scale?  Holy cow.  But then I demonstrated to him how this works and other applications that were as well in  terms of like high density boards and actually pretty interesting applications also for countries  where you may use this concept in order to grow bricks and build a house and it works  and it actually works pretty well and it's at extremely low cost because all you need  are the mushroom seeds which is a liquid it's nothing special and then you can start growing  it in five days and then you have I don't know 10 days later you have a house.  And so we are trying to look at that of course we have certain limitations but also when  it comes to like medical applications we are always looking at cost which is a key driver  no matter what and at the applicability in other areas as well because going forward  if you have such a system that automatically guarantees you compliance because it's attached  to your body and the sensor in your body will tell or the sensor outside of your body will  tell what it does I think it will take us a long way.
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