Driving Change and Innovation in IT

Richard Hook

driving change and innovation in it

The career path of Richard Hook, B.B.A.’96, began at the family cottage near the Michigan International Speedway, where he listened to stories of Roger Penske’s positive impact on business and community. Years later, Hook’s computer information systems degree and nearly 20 years of experience led to his appointment as senior vice president and chief information officer at Penske Corporation.

Hook returned to campus for the 2016 Western Michigan IT Forum as the keynote speaker with his presentation “Driving Technology @ Penske Corporation” and provided his thoughts and insights.

What trends do you see in big data and the internet of things?

When you look at the areas of big data and the internet of things, I think we are only at the beginning of the art of the possible. IoT is extremely exciting, but what is really needed are the applications and services that wrap around the devices to make them meaningful and useful. The lack of standards could drive some short- to medium-term challenges with limited integration between disparate IoT platforms and systems creating pockets of dysfunction or frustration. In addition, security will continue to be a big focus as it should be. We will continue to see the ecosystem of IoT mature through standards and partnerships.

On the big data side, the fact we have so much data is amazing when you think about the history of computing power. The explosion of data will continue at unprecedented rates into the future. There is still a shortage of data scientists, but over the past several years, the tools and platforms continue to mature to help address some of those challenges. The cloud has also enabled the ability to collect more data and make it accessible everywhere, while the analytics tools are plentiful to help mine the data. The protection of this data and information is critical as well.

Another trend that will have a significant impact on IoT, big data and security is the autonomous vehicle, for both cars and commercial vehicles. The next five to 10 years in this space will be extremely exciting.

What trends in your industry are you most excited about?

It’s a very exciting time for our profession as technology truly empowers consumers, business and the transportation services industry. Over the past several years, we have seen mobile and social media positively impact our businesses and enhance the customer experience. That trend will be critical as we continue to digitally transform our businesses. The use of data is critical to every business but looking to turn insights into actions will take us to the next level. There are some things happening around artificial intelligence, big data, augmented reality and IoT that will be exciting to drive through our businesses in the upcoming years and will positively impact our customers and employees.

What is the most interesting aspect of your role at Penske?

I’m fortunate to work for a diverse transportation services company that allows me to get involved in our various businesses—large, small, domestic and global—meaning many days are not the same. The most interesting or unique aspect of my role is probably the involvement with Team Penske. Currently competing across the Indy Car, NASCAR and the Australian V-8 Supercars, Team Penske has produced 438 major race wins, 502 pole positions and 29 national championships. In 2016, we celebrated 50 years of Team Penske and our drivers went 1…2…3 in the Indy Car Championship and finished 2nd in the NASCAR Sprint Cup Championship.

My involvement with Team Penske deepens as there are significant technology partnerships with Verizon, Hewlett Packard Enterprises, Hitachi and others who are partners in both racing and in our business.