In my last ASK ALAN column, I wrote about what business will be like in the ROARING 2020s? I pointed out, that “MetaTrends are the macro forces shaping our future. They’re phenomenon impacting all factions of human life,” according to Google.
Capturing the benefits of MetaTrends
Peter Diamandis, founder of “The X-Games,” (https://en.wikipedia.org/wiki/Peter_Diamandis), believes that current “MetaTrends are resulting from human longevity, the surging smart economy, AI-human collaboration, urbanized cellular agriculture, and high-bandwidth brain-computer interfaces, to name a few.”
Diamandis suggests, “Entrepreneurs and Business Owners see beyond the immediate implications of current technology and capture the enormous business opportunities on the horizon.”
Five MetaTrends to consider
Number 6: everything is smart, embedded with intelligence
“The price of specialized machine learning chips is dropping rapidly with a rise in global demand. Combined with the explosion of low-cost microscopic sensors and the deployment of high-bandwidth networks, we’re heading into a decade wherein every device becomes intelligent.”
Your child’s toy remembers her face and name. The family drone safely and diligently follows, and videos, all the children at the birthday party. Appliances respond to voice commands and anticipate your needs. Consider all the new businesses that will form opportunistically to meet ‘upcoming’ needs?
Number 7: AI will achieve human-level intelligence
“As predicted by technologist and futurist Ray Kurzweil, artificial intelligence will reach human-level performance this decade. Through the 2020s, AI algorithms and machine learning tools will allow anyone with an internet connection to supplement their cognitive ability, augment their problem-solving capacity, and build new ventures at a fraction of the current cost.”
I believe now is the time for “OUTSIDE THE BOX THINKING.” New Business Opportunities during the next ten years are staggering. Getting your arms around the wealth of opportunities may be daunting. However, not if you think of them as applications. FACT: Millennial Generation Entrepreneurs have best chance to be WILDLY SUCCESSFUL. Why? Millennials have grown up in an “application-centric” world in a “technology-driven” environment.
Number 8: AI-human collaboration will skyrocket across all professions
The rise of “AI as a Service” will enable humans to partner with AI in every aspect of their work, at every level, in every industry. AIs will become entrenched in everyday business operations, serving as cognitive collaborators to employees—supporting creative tasks, generating new ideas, and tackling previously unattainable innovations.
AI partnerships will even become a requirement. For example: in the future, making certain diagnoses without the consultation of AI may be deemed malpractice. So, consider starting a new business in this area, where AI will be needed and used.
Number 9: most individuals adapt a “software shell” to improve their quality of life
As services like Alexa, Google Home, and Apple Homepod expand in functionality, such services will eventually travel beyond the home and become your cognitive prosthetic 24/7.
Imagine a secure software shell that you give permission to listen to your conversations, read your email, monitor your blood chemistry, etc. With access to such data, these AI-enabled software shells will learn your preferences, anticipate your needs and behavior, shop for you, monitor your health, and help problem-solve.
Number 10: globally abundant, cheap renewable energy
Continued advancements in solar, wind, geothermal, hydroelectric, nuclear, and localized grids will drive humanity towards cheap, abundant, and ubiquitous renewable energy.
As the world’s poorest countries are also the world’s sunniest, the democratization of both new and traditional storage technologies will grant energy abundance to those already bathed in sunlight.
Perhaps these MetaTrends can help with the direction of your business?
Alan Adler is an Executive Coach, Business Consultant & Speaker. He’s worked for Westinghouse Broadcasting, as a producer/director and with senior management at AT&T, as a corporate spokesperson. Additionally, Alan has been an entrepreneur, creating and growing his own business, Alan Adler & Associates. As a result, he knows management, media and marketing. Alan specializes in helping entrepreneurs through mid-sized businesses, improve profitability. He lives in Huntersville, NC with his wife Mindy. They have two grown children, two adorable grandchildren, and a rescue dog named Bentley.
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