In a recent Post I said that this decade is likely to be remembered as the launching pad to a very different future. Seems Oregon Futurist Steve Brown agrees with me. Mr. Brown sees a whole lot of change by 2030. And he makes a bold prediction: “My expectation is that we’re going to see more change in the workplace and more change in our lives in the next ten years than in the last forty. It’s a bold statement to make, but I think it’s accurate,” said Brown. This recent Article describes each of the areas that he believes drives this change. Here is a summary:
In just a few short years, we’ve moved from being a web-economy to an application economy. One of the underlying reasons are thousands of new Internet of Things (IoT) applications, from manufacturing sensors to medical devices, automobiles to homes. Industry experts predict IoT has the potential for an economic benefit of up to $6.2 trillion by 2025. Are you ready to address the fast-approaching era of hyper-connectivity and voluminous data with your business networks? Do you have a strategy to turn your IoT into sustainable growth opportunities? Do you have the visibility to ensure your network can support these new applications and the flood of data that comes with them?
Join Frank Diana, Futurist and Digital Transformer with Tata Consultancy Services, to learn the new meaning of having an IoT-connected business in the future. He will be joined by Bernard Clairmont, Presales Consultant with CA Technologies, to explain the importance of having a sophisticated network performance management and diagnostic solution to be ready for the future of connectedness.
Like so many emerging innovation accelerators, the Internet of Things will be massively transformative. The time to act is now.
I participated today in a new SAP sponsored thought leadership series titled the Future of the Future. Here is a snippet from the opening talking points:
The buzz: Wow! McKinsey estimates the 2025 potential annual economic impact of the Internet of Things at $11 trillion, 11% of the world economy.
The rebroadcast of the radio show is now available.
A deeper dive into the world of the Internet of Things can be found here.
On a January 26th Game Changers Radio show, a panel of Futurists will focus on the Internet of Things (IoT) and its world changing implications. Here are some of my thoughts in advance of that discussion. I’ll start with a quote from Carl Bildt, Chair of the Global Commission on Internet Governance and a member of the World Economic Forum’s Global Agenda Council on Europe:
“Very soon the Internet of Things will become the Infrastructure on which all other infrastructures are based.”
That bold statement supports thinking in some circles that a General Purpose Technology Platform (GPT) is emerging, the foundation of which is The Internet of Things. This emerging GPT likely alters our world more dramatically than the GPTs of the first and second Industrial Revolutions:
I expect the conversation regarding the Future of Business to intensify over the coming months. Evidence is mounting that business as usual is a thing of the past. In a recent post by SAP, they present ninety nine ways that digital will change business. As you look at the information presented, and see the number of shifts occurring at the same time, it’s hard to imagine a business landscape that weathers this storm unscathed. Here are examples of these shifts from the SAP post:
- At the current turnover rate, 75% of the companies in the S&P 500 in 2027, will be new (companies not currently in index today)
- By 2019, approximately one quarter of the entire U.S. workforce will be independent workers (self-employed, independent contractor, freelancer, temp contractor, etc.)
- By 2030, 10% of the largest companies in the U.S. will be virtual corporations (less than 10% of their workers will be in an office at any point in time)
- 50% of the U.S. Jobs lost in the 2008 recession were middle-skilled jobs, but only 2% of the jobs gained since then have been middle-skilled
- By 2025, there will be 10 global virtual currencies that will be considered mainstream. Their combined market value will exceed $5 Trillion, and Bitcoin will still be the largest.
- Private and commercial robot use will grow 2,000% from 2015 to 2030, creating a $190 billion market
- By 2030, 2 billion jobs will disappear – roughly 50% of all the jobs on the planet – as a result of technology advances
- 3D Printing usage will grow 2000% between 2015 and 2030
- Purpose-driven and value-oriented organizations outperform their competition 15 to 1
- By 2030, sensor use will grow 700,000%, solving nearly every human need such as cancer-killing chips
- By 2020, information will reinvent, digitize, or eliminate 80% of business processes and products
- Although 90% of companies view advanced and predictive analytics as important, less than 30% have currently deployed them, and only 30% have plans to do so
- There will be more words written on Twitter in the next two years than contained in all books ever printed
- By 2025, the total worth of IoT-enabled technology is expected to reach $6.2 trillion – most of that in healthcare (2.5 Trillion) and Manufacturing (2.3 Trillion)
- Within the next five years, more than 90% of all data from IoT will be hosted in the Cloud, reducing the complexity of supporting IoT “Data Blending
Just a small sample (more via the link above) supporting the notion that the future of business could look considerably different than its past. I’ll pursue the future business landscape in up-coming posts.