Google’s head of engineering, innovator and futurist Ray Kurzweil often discusses the concept of longevity escape velocity; or the point at which science can extend your life for more than a year for every year that you are alive. Kurzweil believes we are much closer than you might think. In fact, he believes we are just another 10 to 12 years away from the point that the general public will hit this longevity escape velocity.
I recently added a new book to my Book Library. Authors Peter Diamandis and Steven Kotler explore the acceleration of technology and the Upheaval we are likely to experience in the coming decade. Diamandis and Kotler investigate how exponentially accelerating technologies converge and impact both our lives and society as a whole. They ask key questions like: how will these convergences transform today’s legacy industries? What will happen to the way we raise our kids, govern our nations, and care for our planet?
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:
In a recent Interview, Peter Diamandis talks about the rapid pace of innovation and how it is about to get a lot quicker. Diamandis has always had a positive outlook on the path of innovation – and although I share his optimism, there is no disputing societies need to map that Path. His ability to explore possible futures is very instructive, as leaders everywhere must understand the potential to advance our human development.
Mr. Diamandis believes we will see more change in the coming decade than we have in the last 100 years. He speaks of the Convergence of building blocks in the science and technology domains which contribute to the quickening pace. I’ve explored this notion of intersections in the past, but with a broadened focus. Convergence is occurring across multiple domains, not just science and technology. That additional convergence across society, economy, geopolitics, environment, philosophy, and business introduces a set of additional accelerants – but they also create obstacles.
In looking at possible futures, here are some of his predictions:
Two major forces are likely to converge in very unpredictable ways. The road to Abundance, as described by Peter Diamandis, promises to advance our human development in ways we never could have imagined. At the same time, the journey will drive a number of unintended consequences. The intersection of these two forces underscores the importance of focusing on emerging scenarios now, while we have the opportunity to realize the advancements and mitigate the impact of unintended consequences. Let’s use the journey towards food abundance as an example.
It is no longer a surprise to witness something progress exponentially. Add to that list virtual reality and its near term application in retail, games, sports, and other. As it progresses, the way we interact transforms slowly – and then suddenly. This is a great example of a building block on the science and technology curve spawning a scenario or shift on the future scenario curve – BLURRED REALITY.
The unabated exponential progression of science and technology has driven a staggering pace of innovation. The building blocks are mostly there, allowing creative minds to combine them in ways that attack the world’s most difficult challenges.
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.
Join me on Game Changers radio on Wednesday February 10th at 11:00 EST. We will be discussing the rising billions and their world changing implications
The buzz: Acting hyper. Peter Diamandis predicts the most dramatic positive change in our global economy will occur between 2016-2020, when 3–5 billion new consumers–who’ve never purchased, uploaded, invented or sold anything–come online, sparking a hyper-connectivity mega-surge. Who are they? The “Rising Billions.” Tech giants Google, Facebook, and SpaceX are working to make this happen. How will your company turn the resulting complex hyper-connectivity into sustainable growth opportunities? The experts speak. Frank Diana, TCS: “Three billion new minds are about to join the global conversation” (Peter Diamandis). Dennison DeGregor, HP: “By end of 2017, the CMO will have larger budgets for technology than the CIO” (Gartner). Paul Donovan, SAP: “The day science begins to study non-physical phenomena, it will make more progress in one decade than in all the previous centuries of its existence” (Nikola Tesla). Join us for The Rising Billions: Business Networks and the Digital Economy.
According to Peter Diamandis of Singularity University, the most dramatic change in our global economy is about to occur between 2016 and 2020. He says that 3 to 5 billion new consumers, who have never purchased anything, never uploaded anything and never invented and sold anything, are about to come online and provide a mega-surge to the global economy. He calls this group the “Rising Billions.”
Technology giants like Google, Facebook, and SpaceX are all working to connect the world. Once connected, this exploding online community introduces new markets, creating a $30 trillion consumption opportunity by 2025 – and emerging markets will grow 75% more rapidly than developed markets. As discussed in a recent post on Changing Beliefs, this shift from developed to emerging markets requires a change in the approach used to win in these markets, as products and services from developed markets cannot simply be transplanted into emerging markets. But these rising billions are more than a market opportunity. They are a source of ideas, innovation, knowledge, skills, capacity, passion, learning, insight, and foresight.