Our exponential world puts increasing pressure on our capacity to innovate and the speed and quality of idea flow. This dynamic coupled with the speed at which automation is likely to occur brings our right brain characteristics front and center. Creativity, imagination, big picture vision, emotional and social intelligence, empathy, and other human characteristics are critical to navigating in this emerging future. As automation accelerates, these human traits become even more critical. In a recent report by Citi on Technology at Work, the authors point to our propensity for social interaction, communication, and empathy being something machines can never replace.
Back in 2013, as Smartphone use was growing, I wrote about Next Generation Experiences; viewing customer experience through a lens of constant change, where failure to address foundational elements meant falling further behind. Since then, our mode of interaction witnessed a third transformation, as touch became a critical piece of our everyday experiences. Now, we find ourselves approaching the next significant change in interaction paradigms: the Fourth Transformation driven by mixed reality.
A PDF version of the visual can be found here.
Heidi Schwende recently shared a picture on LinkedIn that perfectly captures the challenges facing large traditional companies. Exponential progression, the pace it is driving, and the capacity of companies native to digital to innovate put the traditional company at a severe disadvantage.
In a recent post titled Demonetized Cost of Living, Peter Diamandis describes how technological socialism (i.e. having our lives taken care of by technology) will drive our cost of living close to zero. A similar case was made by Economist Jeremy Rifkin in his book titled The Zero Marginal Cost Society. Diamandis defines demonetization as the ability of technology to take a product or service that was previously expensive and making it substantially cheaper, or potentially free; removing money from the equation. Demonetized is one of the Six D’s of digital, as described by Diamandis and captured in one of my visuals below.
I participated in a radio show yesterday brought to you by Coffee Break with Game Changers. The show was hosted by Bonnie D. Graham and is now available on-demand here. When asked about a leadership trait required to effectively navigate our exponential future, I echoed something I have positioned many times via this Blog: Connecting Dots. The speed dimension that has accelerated our pace will put those dots in constant motion – so it’s a continuous state of connecting that makes this more challenging than our forward looking efforts of the past. The foundation for this argument was positioned in my post describing how Disruptive Power Lies at the Intersections. This visual from that post leverages my anchor visual on our emerging future.
The airwaves are filled with talk of exponential technologies like Blockchain, Artificial Intelligence, Robotics, Renewable Energy and more. In addition, societal factors that influence or are influenced by technology are getting more attention. So what’s the buzz?
An article on Blockchain uses eight visuals to describe The Future of Blockchain and provides a Financial Services adoption timeline. The adoption scenario predicts that Blockchain will move past the Innovators phase in 2016 and reach 13.5 percent of early adopters within financial services. The tipping point is then expected to happen in 2018, as the early majority begins to see benefits realized by early adopters, and new models emerge. The growth phase lasts until 2025 when Blockchain goes main stream within financial services. This visual from the article captures the adoption cycle.
A separate piece by Mckinsey focuses on Blockchain in Insurance. A key take away from this report is that Blockchain is yet another example of an ecosystem growing beyond traditional industry.