Put on your seat belts -the biggest disruptive event in your lifetime has already started and you need to pay attention to it as this will affect every single aspect of your life and the future of your business, you, your family and your finances. It will also offer numerous opportunities for those who are in position to see them and to capitalise on them
The current technological disruption will have a bigger impact than all past disruptions such as the industrial revolution, the invention of the motor car, the invention of the telephone and TV and will be even bigger than computing and the Internet. This will change everything in the next 5-10 years, yet few people seem to be preparing for it or are even aware of it and how it will affect their businesses, their jobs , their finances and their lifestyles. Just think how much these past disruptions changed society and everyone’s lives and now imagine something that will have an even bigger impact than those did. It will be a very bumpy roller coaster ride for the next few years, especially, for some industries and jobs with clear winners and losers . Things will then settle down in the following 2 decades into the expected AI era of abundance and prosperity. You need to be aware of what is already happening around you so you can avoid being caught unaware during the next 5 or 6 years of chaotic and rapidly changing environment.
Every time there is a major convergence of technological advances leading to disruption (as happened in each of the past breakthroughs, older legacy industries are often slow to respond. They either are left behind or may even go into rapid decline and normally are replaced by more agile, new industries, systems and business processes in a very short period. This displacement typically happens over 10-15 years (although the timescales have been getting shorter and shorter in each succeeding disruption and the current disruption is likely to be 5-7 years ). These new systems, business models and processes then create a new stable equilibrium for a while until that equilibrium too, is eventually disrupted by the next phase of game changing technological advances.
The critical factor as in earlier technological disruptions, is the convergence of key enabling factors that make such major disruptions possible and allow new businesses processes to emerge. The Smart phone killed the older phones and enabled emergence of totally new business models that did not even exist before. For example, in just 7 years, bookings on Uber had exceeded the total revenues of the US taxi industry! . Similarly AIR B+B created a $multimillion company that took $Billions from the income of the hotel industry. Neither would have been possible in earlier years as they needed the technology integrated into smart phones to be able to operate.
The next disruption is now already underway . Major advances in technologies and cost reductions related to Energy, Transport, Food, Materials, and Medicine combined with the rapidly increasing power and capabilities of Artificial Intelligence (AI ) is going to deliver what was previously thought to be impossible within our lifetimes. These changes/developments are going to have implications for every single aspect of our lives including investments, geopolitics, land use, cities, health, governance, environment and economics
Forecasts by leading think tanks, technology experts and thought leaders who have repeatedly been proven right on numerous earlier technology predictions during the last 3 decades, all agree that we are now on the brink of what will be the most profound technological disruption. The effects on different sectors will be summarised over the coming weeks
Request from Alan
As some of you know from my earlier posts on LinkedIn , there are millions of businesses in low- and middle-income countries (LMICs ) who will not have easy affordable access or knowledge to be able to use AI or to harness its benefits to improve their productivity and profitability. At the same time there are typically around 20% or more unemployed graduates in each country who are unable to find a job or to earn any income. In addition around 20% and of knowledge workers and 30% of manual workers will lose their jobs due to AI. Because of no code platforms it is no longer necessary to be a programmer to develop useful AI related products so if any of these individuals can retrain to use AI tools, they may be able to earn an income for themselves as well as helping local businesses to implement AI tools to improve profitability. Both parties would benefit
The free downloadable books available on this website for each group give examples how others around the world are harnessing the capabilities of AI to equip their businesses or themselves for the AI Tsunami that is already starting to hit us. Please let others know and encourage them to downloqd books to help them thrive in the AI era
Dr Alan Ross
linkedin.com/in/alan-ross-06790914
1 Thinktanks like ResearchX , Technology investment specialists like Ark investment group and thought leaders like Tony Seba , Peter Diamandis , Ray Kurzweil – all with a proven history of accurate forecasting of technology trends and advances all indicate that we are at the very beginning of a major technological disruption that will have a bigger impact on society and the world than anything that has happened before in the history of the Earth . They all expect that if things continue as they are now, we will enter an era of “abundance” during the 2030s where most of the major problems affecting humanity can be resolved.
