This Analysis by the Conference Board underscores how the trajectory of COVID-19 and the economic response over the next few months are uncertain. They developed three scenarios for the course of the US economy for the remainder of 2020. Focusing on future scenarios was already a critical imperative given the pace of change; the current pandemic just underscores the point. The analysis authors from the Conference Board are: Bart van Ark, Executive Vice President & Chief Economist, and Erik Lundh, Senior Economist. Here is an executive summary from the report:
In a post back in 2018, I described a phenomenon that contributes to the rapid Acceleration of innovation and scientific breakthroughs. Peter Diamandis coined the term Techno-Philanthropists and compared and contrasted them to the Robber Barons of a different era. Billionaires get a lot of negative press these days – but one thing is clear: their wealth is both accelerating the pace of innovation and addressing some of the world’s greatest challenges. Stories described by Articles like this one highlight the point.
In his recent Book Peter Diamandis describes why the future is faster than you think. At the heart of this phenomenon is the Acceleration of acceleration. The Convergence of multiple forces is driving this very fast future. As these Intersections occur, that pathway to a very different future opens wide. In the case of acceleration, Mr. Diamandis identifies seven forces that in effect accelerate the current acceleration dynamic. These are:
While the 19th Century belonged to the British, and the 20th Century to the Americans, Parag Khanna believes the 21st Century belongs to Asia. In his recent book The Future is Asian, the author takes us on a journey to Asia’s past. Along the way, we learn about the historical events that shaped Asia, and the role that the western world played in that shaping.
As Mr. Khanna shifts to the present, we learn about the fascinating stories unfolding across Asia – from all corners of the eastern world. From Saudi Arabia, Africa and Australia, to China, Vietnam, Russia, and Korea. The coming together of Asians as a people is a core theme. The author explores the prominent role that Technocracy played in Singapore, and holds it up as a model to be replicated. He compares and contrasts the progress made in the East, to the dysfunction of the West. As we witness the populist outbreak in the west, we see a coming together in the east. As it does so, the Post-War (One and Two) global order defined by the West gives way to a global order increasingly defined by the East.
This recent Article highlights the progress made in brain science, our focus on solving grand world challenges, and the critical need to continue this advancement. The article describes how a paralyzed man using only his brain signals was able to operate, maneuver, and walk in a whole-body robotic exoskeleton. This press release provides more details. The findings could advance efforts to help paralyzed patients drive computers using brain signals alone; “perhaps starting with driving wheelchairs using brain activity instead of joysticks and progressing to developing an exoskeleton for increased mobility,” says Stephan Chabardes, neurosurgeon from the CHU of Grenoble-Alpes, France.
The further Backward you Look, the Further Forward you can See – Winston Churchill
I really like this quote from Winston Churchill. In a previous post on Learning from History, I was trying to say the same thing. One of the key learnings in looking back at our most transformative period (late nineteenth, early twentieth century), was the Convergence that occurred across multiple domains. I had developed a visual to capture a convergence phenomenon that took place over a one hundred year period – some have called this a Special Century. I updated the visual with new content (click the visual to expand). The color scheme shows the convergence that occurred across the business, science, technology, political, societal and economic domains. The red boxes represent the Catalysts that drove this convergence.
Two recent articles highlight the dilemma faced in this era of rapid innovation: the potential to enhance humanity, and the opportunity to diminish it. This article on DeepFakes describes the challenge that society will face as Deepfake video and audio make it impossible to tell the difference between reality and fiction. Audio attacks using convincing forgeries can send stocks plummeting or soaring. How about mimicking a CEO’s voice to request a senior financial officer to transfer money? These are real examples provided by Symantec. This short Video describes the money transfer scenario.