The Fourth Industrial Revolution
It’s no surprise that technology is all encompassing and an omnipotent as a force in our lives today. Technology devices, platforms and digital media are driving digital transformation across industries and accelerating adoption of further digitization and digitalization. Many of these trends with regards to industry disruption, exponential technologies and digital transformation are being vastly accelerated by the coronavirus pandemic as well.
Peter Diamandis, The Founder and Chairman of Singularity University has a mental model to think about the exponential change that is permeating throughout our economy, industries, society and transforming our lives at an unprecedented and exponential rate of change. It’s known as the 6Ds Exponential Framework and refers to the exponential curves through which the combination of certain digital technologies and disruptive business models scale and have an exponential impact.
Deciding to pivot to digital technologies and digital platforms
Deceptive phase of growth
Disruptive phase of growth (Entrepreneurs, their new technologies and their new business models are seen as a threat to industry incumbents)
Entrepreneurs who use digital technologies and disruptive business models successfully, are able to demonetize previous companies, industries and incumbents who don’t adapt overnight by lowering price and offering greater efficiency, scale and speed. (Think what Amazon did to Retailers, what Netflix did to Blockbuster).
This process also dematerializes the need for physical products and services as they become digitalized and automated.
In the end, these digital new technologies and digital services become democratized and accessible to many people as they become a function of the internet.
Today a few technology monopolies dominate large swaths of our economy because of the way they have been able to scale and leverage digital technologies, disruptive business models, constant reinvention and the centralization of their economic and societal power is unprecedented, particularly as they continue their expansion.
Although these companies have brought us much value, unfortunately we are at a tipping point where it is dangerous for them to continually expand and dominate.
For example, social media is killing traditional news media outlets but is causing much chaos, disconnection, and upheaval in the modern world. The amount of news sources and types of news sources we access today are much much different than in the past. And the volume and quantum of information we are dealing with is quite worrisome. It is serving to polarize many people, particularly those who are not involved in the value creation process of the information technology revolution we are going through.
Since so many people are being left behind, or are unaware of the revolution, I think that people becoming aware is one step. The next step is embracing the information revolution with an equal dose of optimism and pessimism, hope and fear. Earlier many in Silicon Valley would only see the optimism and the bright side of the new inventions and business models. However, the flip side to this equation, is that it represents great opportunities to those who participate and can decouple engineers, tech entrepreneurs etc. from the rest of reality.
One aspect however, is the sheer velocity of new startups, entrepreneurs and innovators that are emerging throughout different industries and sectors and seeking to further this process, however with even more decentralization and accessibility. I think this is great, because I am also somewhat of a latecomer and am hoping to participate in the information revolution.
I am excited by the opportunities I see popping up everywhere. I know it may seem like things are very daunting right now with Coronavirus, Political and Social Polarization, Economic Strife and alot of chaos in our modern world. However I do believe we all have a chance to build a better world.
However with this said, there will be a momentous amount of opportunities created in many other sectors which I believe are the following which I think are cool and which make science fiction become science fact. This is because there are multiple game-changing exponential technologies such as Artificial Intelligence, Blockchain, Cloud Computing, 3D Printing and Clean Energy that give hope for humanity and our collective future (as hard as that may seem right now) as they converge, revolutionize entire industries overnight, create disruptive innovation, unleash creative destruction, accelerate exponential change in our world and create abundance in all aspects of our lives and our world, especially as the costs of these technologies, goods and services keep lowering and technology creates a deflationary cycle where many things become cheaper, free and more accessible. Make no mistake about it however, there will be alot of pain especially this next decade, because the Covid19 pandemic has accelerated many trends with automation, digital transformation and the 4th Industrial Revolution which were already moving at a hyperpace.
1. Blockchain, Crypto, Decentralized Finance, FinTech, Bitcoin, Ethereum, Web 3.0, Neobanks, SPACs, Fintechs
2. Artificial Intelligence
4. Cloud Computing
5. Social Media Marketing
6. Independent Publishing | Paid Newsletters | New Media
7. Quantum Computing
8. Virtual Reality/Augmented Reality/Spatial Web/Metaverse/Web 3.0
9. Cyber Security
10. Smart Cities
11. Vertical Farming
12. Clean Energy, Decarbonization and Sustainability
13. Electric and Autonomous Vehicles
14. 5G Networks
15. Space Industry — Rockets, Space Tourism, Satellites
3D Printing/Additive Manufacturing
17. Personalized Medicine/Precision Medicine/Biotech/Genomics/Life Sciences/Digital Health
Brain Computer Interfaces (Neural Implants)
Software as a Service (SaaS)