Is it any wonder that leaders are overwhelmed? It’s not just the pace of change, extreme events, or challenges to existing mental models. It is the sheer number of building blocks that currently exist, and those that are emerging. Factor in convergence occurring across these building blocks, and you have a recipe for uncertainty, unpredictability and an overwhelming number of possibilities. It was the book titled The Second Machine Age written by Andrew McAfee and Erik Brynjolfsson, where the point was underscored.Continue reading
For those of us alive today, our core beliefs, the way we live, and our notion of work are rooted in the way it has been for the last 250 years. To us, it has always been this way. When a transformative era emerges, we struggle to imagine a different way of doing things – even when the emerging future is begging us to think differently. One great example lies in the future of work. As we struggle to envision a world where work is no longer required, we fail to realize that History is very Instructive.Continue reading
As I described in my Thoughts on 2019 post, acceleration is the second major theme for me in 2019. The pace of innovation and change is often cited as a key difference between the next revolution and prior ones. We even came up with a catchy phrase to describe it: exponential progression. How did we come upon the notion that we live in world that is now moving at an exponential versus linear pace? Some explain it with a story; we have entered the second half of the chess board. Ray Kurzweil an American author, inventor, futurist, and director of engineering at Google describes the second half of the chessboard as follows: once you reach the second half of the chessboard, changes are exponential. Each new square doubling that of the previous. Moore’s Law is said to have entered the second half of the chess board in 2013. A good description of this phenomenon can be found here.
This doubling accelerates the path to innovation. With an endless supply of building blocks fueling rapid value-creating combinations, this effect is amplified. While the window to realize value from innovation has shortened, there is a Rising Speed of Technological Adoption. Jeff Desjardins, Editor-in-Chief of Visual Capitalist, had this to say:
In the modern world, through increased connectivity, instant communication, and established infrastructure systems, new ideas and products can spread at speeds never seen before – and this enables a new product to get in the hands of consumers in the blink of an eye. Why do newer technologies get adopted so quickly? It seems partly because modern tech needs less infrastructure in contrast with the water pipes, cable lines, electricity grids, and telephone wires that had to be installed throughout the 20th century. However, it also says something else about today’s consumers – which is that they are connected, fast-acting, and not afraid to adopt the new technologies that can quickly impact their lives for the better.
In their now popular book on The Second Machine Age Andrew McAfee and Eric Brynjolfsson describe one of the forces behind our accelerating pace. This force could be key to understanding the dynamics of our environment; the number of potentially valuable building blocks is exploding around the world, and the possibilities are multiplying like never before.
My post on the disruptive implications of the Autonomous Vehicle generated dialog that has been very insightful and provocative. Before posting additional analysis of the societal, economical, and environmental impact of emerging disruptive scenarios, I wanted to restate my reason for doing so, and share some great perspective from leaders that engaged in this recent dialog. I launched this last series to support the growing belief that: 1) we are entering what is likely the most transformative period in history, and 2) this should drive a sense of urgency for leaders everywhere. This coming period brings with it many possible disruptive scenarios, each with its own set of consequences. In my experience, leaders view these scenarios as too far off into the future to warrant their time – we’ve been conditioned to think short term. In their new book The Second Machine Age, Andrew McAfee and Erik Brynjolfsson provide their perspective on why the time to focus on the future is now. The three forces they describe (exponential, digital, and combinatorial) are perhaps the best description of the drivers behind the accelerating effect of disruption.
I just finished reading a new book titled The Second Machine Age written by Andrew McAfee and Erik Brynjolfsson – both from MIT. The book is a must read for leaders everywhere. Its journey offers a view into the potential societal, economic, and business impact of technological advancement in the digital age. Although I am fascinated by each of these, my interest in summarizing this book is to connect their perspective to the future of business. Consistent with my recent disruption theme, the question is: how does the world that the authors envision impact the future of business?