1) Writing and Speaking by Paul Graham is a relevant read.
2) As others have said, X isn't about Y. Conferences aren't about discussion (personally, I don't really know that that's true; I'm basing this assumption on my hearing lots of other people saying it).
However, I still think there are important questions left to ask:
3) If the goal of conferences isn't discussion, what is it? I suspect that conference organizers aren't really asking themselves this question, and that they're suffering from Lost Purposes. How do stronger (social) relationships lead to more scientific discovery? Is it trust? Informal discussions? I think that science is really really important, so even if the marginal improvement to conferences is small, I sense that it's multiplied by a big enough number such that the marginal improvement itself is also quite important.
4) Even if the goal of conferences isn't discussion, discussion is still something that's really important. "How can discussion be optimized?" is a really important question (similar logic to 3). As to your question of how discussion could be improved, here are some initial thoughts/brainstorming (nothing novel or too useful though):
I'm asking this as a follow-up to http://lesswrong.com/lw/d5y/why_academic_papers_are_a_terrible_discussion/, which was written a few years ago, and which I find very interesting.
Many of the arguments advanced in http://lesswrong.com/lw/d5y/why_academic_papers_are_a_terrible_discussion/ (especially inaccessibility) could just as well apply to conferences, too.
I'd also wonder - would you consider conferences to also be a terrible discussion forum? What do you think would be some good alternatives?
The audience for conferences is limited, and people seem to remember only a tiny tiny fraction of everything they've encountered in a conference. The ideas in conferences don't seem to do much for building up platforms of public discussions around the new subjects that are often announced in conferences (rather than, say, on online platforms).
I suppose one could advance the argument that ideas often get brought up/discussed at conferences that wouldn't be conveniently discussed in any other medium (for now..). But is this mostly because people are too comfortable with what they're been brought up with?