The Fast Future team continues to provide foresight in various areas. In this recent Article they explore what family life may look like in 2025. The possible future they describe is built on a foundation of multi-sensory immersive experiences, while distance is eliminated. We will no longer miss family celebrations and story-telling rises to new levels. Imagine a grandparent telling stories from their past, brought to life in ways that stimulate our emotional sensations.
Globalization could be entering its third act. In a book titled The Great Convergence, Author Richard Baldwin describes the three constraints that have limited globalization: the cost of moving goods, the cost of moving ideas, and the cost of moving people. The first two acts of globalization occurred when the cost of moving goods and ideas dropped. While globalization raised the standard of living in several developing economies, the third constraint limited the breadth of impact.
In his closing chapter, Mr. Baldwin explores the possibility of a third act. This act is driven by dramatic advancements in areas that address the third constraint. If the cost of moving people were to drop, developing nations like South America, Africa, and others could be the beneficiaries of this third act. How will the cost of moving people drop? What advancements enable this third act? In his closing chapter, Mr. Baldwin touches on enabling innovations and their fascinating potential. Here is a brief look at these innovations: