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#435098 Coming of Age in the Age of AI: The ...

The first generation to grow up entirely in the 21st century will never remember a time before smartphones or smart assistants. They will likely be the first children to ride in self-driving cars, as well as the first whose healthcare and education could be increasingly turned over to artificially intelligent machines.

Futurists, demographers, and marketers have yet to agree on the specifics of what defines the next wave of humanity to follow Generation Z. That hasn’t stopped some, like Australian futurist Mark McCrindle, from coining the term Generation Alpha, denoting a sort of reboot of society in a fully-realized digital age.

“In the past, the individual had no power, really,” McCrindle told Business Insider. “Now, the individual has great control of their lives through being able to leverage this world. Technology, in a sense, transformed the expectations of our interactions.”

No doubt technology may impart Marvel superhero-like powers to Generation Alpha that even tech-savvy Millennials never envisioned over cups of chai latte. But the powers of machine learning, computer vision, and other disciplines under the broad category of artificial intelligence will shape this yet unformed generation more definitively than any before it.

What will it be like to come of age in the Age of AI?

The AI Doctor Will See You Now
Perhaps no other industry is adopting and using AI as much as healthcare. The term “artificial intelligence” appears in nearly 90,000 publications from biomedical literature and research on the PubMed database.

AI is already transforming healthcare and longevity research. Machines are helping to design drugs faster and detect disease earlier. And AI may soon influence not only how we diagnose and treat illness in children, but perhaps how we choose which children will be born in the first place.

A study published earlier this month in NPJ Digital Medicine by scientists from Weill Cornell Medicine used 12,000 photos of human embryos taken five days after fertilization to train an AI algorithm on how to tell which in vitro fertilized embryo had the best chance of a successful pregnancy based on its quality.

Investigators assigned each embryo a grade based on various aspects of its appearance. A statistical analysis then correlated that grade with the probability of success. The algorithm, dubbed Stork, was able to classify the quality of a new set of images with 97 percent accuracy.

“Our algorithm will help embryologists maximize the chances that their patients will have a single healthy pregnancy,” said Dr. Olivier Elemento, director of the Caryl and Israel Englander Institute for Precision Medicine at Weill Cornell Medicine, in a press release. “The IVF procedure will remain the same, but we’ll be able to improve outcomes by harnessing the power of artificial intelligence.”

Other medical researchers see potential in applying AI to detect possible developmental issues in newborns. Scientists in Europe, working with a Finnish AI startup that creates seizure monitoring technology, have developed a technique for detecting movement patterns that might indicate conditions like cerebral palsy.

Published last month in the journal Acta Pediatrica, the study relied on an algorithm to extract the movements from a newborn, turning it into a simplified “stick figure” that medical experts could use to more easily detect clinically relevant data.

The researchers are continuing to improve the datasets, including using 3D video recordings, and are now developing an AI-based method for determining if a child’s motor maturity aligns with its true age. Meanwhile, a study published in February in Nature Medicine discussed the potential of using AI to diagnose pediatric disease.

AI Gets Classy
After being weaned on algorithms, Generation Alpha will hit the books—about machine learning.

China is famously trying to win the proverbial AI arms race by spending billions on new technologies, with one Chinese city alone pledging nearly $16 billion to build a smart economy based on artificial intelligence.

To reach dominance by its stated goal of 2030, Chinese cities are also incorporating AI education into their school curriculum. Last year, China published its first high school textbook on AI, according to the South China Morning Post. More than 40 schools are participating in a pilot program that involves SenseTime, one of the country’s biggest AI companies.

In the US, where it seems every child has access to their own AI assistant, researchers are just beginning to understand how the ubiquity of intelligent machines will influence the ways children learn and interact with their highly digitized environments.

Sandra Chang-Kredl, associate professor of the department of education at Concordia University, told The Globe and Mail that AI could have detrimental effects on learning creativity or emotional connectedness.

Similar concerns inspired Stefania Druga, a member of the Personal Robots group at the MIT Media Lab (and former Education Teaching Fellow at SU), to study interactions between children and artificial intelligence devices in order to encourage positive interactions.

Toward that goal, Druga created Cognimates, a platform that enables children to program and customize their own smart devices such as Alexa or even a smart, functional robot. The kids can also use Cognimates to train their own AI models or even build a machine learning version of Rock Paper Scissors that gets better over time.

“I believe it’s important to also introduce young people to the concepts of AI and machine learning through hands-on projects so they can make more informed and critical use of these technologies,” Druga wrote in a Medium blog post.

Druga is also the founder of Hackidemia, an international organization that sponsors workshops and labs around the world to introduce kids to emerging technologies at an early age.

“I think we are in an arms race in education with the advancement of technology, and we need to start thinking about AI literacy before patterns of behaviors for children and their families settle in place,” she wrote.

AI Goes Back to School
It also turns out that AI has as much to learn from kids. More and more researchers are interested in understanding how children grasp basic concepts that still elude the most advanced machine minds.

For example, developmental psychologist Alison Gopnik has written and lectured extensively about how studying the minds of children can provide computer scientists clues on how to improve machine learning techniques.

In an interview on Vox, she described that while DeepMind’s AlpahZero was trained to be a chessmaster, it struggles with even the simplest changes in the rules, such as allowing the bishop to move horizontally instead of vertically.

“A human chess player, even a kid, will immediately understand how to transfer that new rule to their playing of the game,” she noted. “Flexibility and generalization are something that even human one-year-olds can do but that the best machine learning systems have a much harder time with.”

Last year, the federal defense agency DARPA announced a new program aimed at improving AI by teaching it “common sense.” One of the chief strategies is to develop systems for “teaching machines through experience, mimicking the way babies grow to understand the world.”

Such an approach is also the basis of a new AI program at MIT called the MIT Quest for Intelligence.

The research leverages cognitive science to understand human intelligence, according to an article on the project in MIT Technology Review, such as exploring how young children visualize the world using their own innate 3D models.

“Children’s play is really serious business,” said Josh Tenenbaum, who leads the Computational Cognitive Science lab at MIT and his head of the new program. “They’re experiments. And that’s what makes humans the smartest learners in the known universe.”

In a world increasingly driven by smart technologies, it’s good to know the next generation will be able to keep up.

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Posted in Human Robots

#435046 The Challenge of Abundance: Boredom, ...

As technology continues to progress, the possibility of an abundant future seems more likely. Artificial intelligence is expected to drive down the cost of labor, infrastructure, and transport. Alternative energy systems are reducing the cost of a wide variety of goods. Poverty rates are falling around the world as more people are able to make a living, and resources that were once inaccessible to millions are becoming widely available.

But such a life presents fuel for the most common complaint against abundance: if robots take all the jobs, basic income provides us livable welfare for doing nothing, and healthcare is a guarantee free of charge, then what is the point of our lives? What would motivate us to work and excel if there are no real risks or rewards? If everything is simply given to us, how would we feel like we’ve ever earned anything?

Time has proven that humans inherently yearn to overcome challenges—in fact, this very desire likely exists as the root of most technological innovation. And the idea that struggling makes us stronger isn’t just anecdotal, it’s scientifically validated.

For instance, kids who use anti-bacterial soaps and sanitizers too often tend to develop weak immune systems, causing them to get sick more frequently and more severely. People who work out purposely suffer through torn muscles so that after a few days of healing their muscles are stronger. And when patients visit a psychologist to handle a fear that is derailing their lives, one of the most common treatments is exposure therapy: a slow increase of exposure to the suffering so that the patient gets stronger and braver each time, able to take on an incrementally more potent manifestation of their fears.

Different Kinds of Struggle
It’s not hard to understand why people might fear an abundant future as a terribly mundane one. But there is one crucial mistake made in this assumption, and it was well summarized by Indian mystic and author Sadhguru, who said during a recent talk at Google:

Stomach empty, only one problem. Stomach full—one hundred problems; because what we refer to as human really begins only after survival is taken care of.

This idea is backed up by Maslow’s hierarchy of needs, which was first presented in his 1943 paper “A Theory of Human Motivation.” Maslow shows the steps required to build to higher and higher levels of the human experience. Not surprisingly, the first two levels deal with physiological needs and the need for safety—in other words, with the body. You need to have food, water, and sleep, or you die. After that, you need to be protected from threats, from the elements, from dangerous people, and from disease and pain.

Maslow’s Hierarchy of Needs. Photo by Wikimedia User:Factoryjoe / CC BY-SA 3.0
The beauty of these first two levels is that they’re clear-cut problems with clear-cut solutions: if you’re hungry, then you eat; if you’re thirsty, then you drink; if you’re tired, then you sleep.

But what about the next tiers of the hierarchy? What of love and belonging, of self-esteem and self-actualization? If we’re lonely, can we just summon up an authentic friend or lover? If we feel neglected by society, can we demand it validate us? If we feel discouraged and disappointed in ourselves, can we simply dial up some confidence and self-esteem?

Of course not, and that’s because these psychological needs are nebulous; they don’t contain clear problems with clear solutions. They involve the external world and other people, and are complicated by the infinite flavors of nuance and compromise that are required to navigate human relationships and personal meaning.

These psychological difficulties are where we grow our personalities, outlooks, and beliefs. The truly defining characteristics of a person are dictated not by the physical situations they were forced into—like birth, socioeconomic class, or physical ailment—but instead by the things they choose. So a future of abundance helps to free us from the physical limitations so that we can truly commit to a life of purpose and meaning, rather than just feel like survival is our purpose.

The Greatest Challenge
And that’s the plot twist. This challenge to come to grips with our own individuality and freedom could actually be the greatest challenge our species has ever faced. Can you imagine waking up every day with infinite possibility? Every choice you make says no to the rest of reality, and so every decision carries with it truly life-defining purpose and meaning. That sounds overwhelming. And that’s probably because in our current socio-economic systems, it is.

Studies have shown that people in wealthier nations tend to experience more anxiety and depression. Ron Kessler, professor of health care policy at Harvard and World Health Organization (WHO) researcher, summarized his findings of global mental health by saying, “When you’re literally trying to survive, who has time for depression? Americans, on the other hand, many of whom lead relatively comfortable lives, blow other nations away in the depression factor, leading some to suggest that depression is a ‘luxury disorder.’”

This might explain why America scores in the top rankings for the most depressed and anxious country on the planet. We surpassed our survival needs, and instead became depressed because our jobs and relationships don’t fulfill our expectations for the next three levels of Maslow’s hierarchy (belonging, esteem, and self-actualization).

But a future of abundance would mean we’d have to deal with these levels. This is the challenge for the future; this is what keeps things from being mundane.

As a society, we would be forced to come to grips with our emotional intelligence, to reckon with philosophy rather than simply contemplate it. Nearly every person you meet will be passionately on their own customized life journey, not following a routine simply because of financial limitations. Such a world seems far more vibrant and interesting than one where most wander sleep-deprived and numb while attempting to survive the rat race.

We can already see the forceful hand of this paradigm shift as self-driving cars become ubiquitous. For example, consider the famous psychological and philosophical “trolley problem.” In this thought experiment, a person sees a trolley car heading towards five people on the train tracks; they see a lever that will allow them to switch the trolley car to a track that instead only has one person on it. Do you switch the lever and have a hand in killing one person, or do you let fate continue and kill five people instead?

For the longest time, this was just an interesting quandary to consider. But now, massive corporations have to have an answer, so they can program their self-driving cars with the ability to choose between hitting a kid who runs into the road or swerving into an oncoming car carrying a family of five. When companies need philosophers to make business decisions, it’s a good sign of what’s to come.

Luckily, it’s possible this forceful reckoning with philosophy and our own consciousness may be exactly what humanity needs. Perhaps our great failure as a species has been a result of advanced cognition still trapped in the first two levels of Maslow’s hierarchy due to a long history of scarcity.

As suggested in the opening scenes in 2001: A Space Odyssey, our ape-like proclivity for violence has long stayed the same while the technology we fight with and live amongst has progressed. So while well-off Americans may have comfortable lives, they still know they live in a system where there is no safety net, where a single tragic failure could still mean hunger and homelessness. And because of this, that evolutionarily hard-wired neurotic part of our brain that fears for our survival has never been able to fully relax, and so that anxiety and depression that come with too much freedom but not enough security stays ever present.

Not only might this shift in consciousness help liberate humanity, but it may be vital if we’re to survive our future creations as well. Whatever values we hold dear as a species are the ones we will imbue into the sentient robots we create. If machine learning is going to take its guidance from humanity, we need to level up humanity’s emotional maturity.

While the physical struggles of the future may indeed fall to the wayside amongst abundance, it’s unlikely to become a mundane world; instead, it will become a vibrant culture where each individual is striving against the most important struggle that affects all of us: the challenge to find inner peace, to find fulfillment, to build meaningful relationships, and ultimately, the challenge to find ourselves.

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Posted in Human Robots

#434772 Traditional Higher Education Is Losing ...

Should you go to graduate school? If so, why? If not, what are your alternatives? Millions of young adults across the globe—and their parents and mentors—find themselves asking these questions every year.

Earlier this month, I explored how exponential technologies are rising to meet the needs of the rapidly changing workforce.

In this blog, I’ll dive into a highly effective way to build the business acumen and skills needed to make the most significant impact in these exponential times.

To start, let’s dive into the value of graduate school versus apprenticeship—especially during this time of extraordinarily rapid growth, and the micro-diversification of careers.

The True Value of an MBA
All graduate schools are not created equal.

For complex technical trades like medicine, engineering, and law, formal graduate-level training provides a critical foundation for safe, ethical practice (until these trades are fully augmented by artificial intelligence and automation…).

For the purposes of today’s blog, let’s focus on the value of a Master in Business Administration (MBA) degree, compared to acquiring your business acumen through various forms of apprenticeship.

The Waning of Business Degrees
Ironically, business schools are facing a tough business problem. The rapid rate of technological change, a booming job market, and the digitization of education are chipping away at the traditional graduate-level business program.

The data speaks for itself.

The Decline of Graduate School Admissions
Enrollment in two-year, full-time MBA programs in the US fell by more than one-third from 2010 to 2016.

While in previous years, top business schools (e.g. Stanford, Harvard, and Wharton) were safe from the decrease in applications, this year, they also felt the waning interest in MBA programs.

Harvard Business School: 4.5 percent decrease in applications, the school’s biggest drop since 2005.
Wharton: 6.7 percent decrease in applications.
Stanford Graduate School: 4.6 percent decrease in applications.

Another signal of change began unfolding over the past week. You may have read news headlines about an emerging college admissions scam, which implicates highly selective US universities, sports coaches, parents, and students in a conspiracy to game the undergraduate admissions process.

Already, students are filing multibillion-dollar civil lawsuits arguing that the scheme has devalued their degrees or denied them a fair admissions opportunity.

MBA Graduates in the Workforce
To meet today’s business needs, startups and massive companies alike are increasingly hiring technologists, developers, and engineers in place of the MBA graduates they may have preferentially hired in the past.

While 85 percent of US employers expect to hire MBA graduates this year (a decrease from 91 percent in 2017), 52 percent of employers worldwide expect to hire graduates with a master’s in data analytics (an increase from 35 percent last year).

We’re also seeing the waning of MBA degree holders at the CEO level.

For decades, an MBA was the hallmark of upward mobility towards the C-suite of top companies.

But as exponential technologies permeate not only products but every part of the supply chain—from manufacturing and shipping to sales, marketing and customer service—that trend is changing by necessity.

Looking at the Harvard Business Review’s Top 100 CEOs in 2018 list, more CEOs on the list held engineering degrees than MBAs (34 held engineering degrees, while 32 held MBAs).

There’s much more to leading innovative companies than an advanced business degree.

How Are Schools Responding?
With disruption to the advanced business education system already here, some business schools are applying notes from their own innovation classes to brace for change.

Over the past half-decade, we’ve seen schools with smaller MBA programs shut their doors in favor of advanced degrees with more specialization. This directly responds to market demand for skills in data science, supply chain, and manufacturing.

Some degrees resemble the precise skills training of technical trades. Others are very much in line with the apprenticeship models we’ll explore next.

Regardless, this new specialization strategy is working and attracting more new students. Over the past decade (2006 to 2016), enrollment in specialized graduate business programs doubled.

Higher education is also seeing a preference shift toward for-profit trade schools, like coding boot camps. This shift is one of several forces pushing universities to adopt skill-specific advanced degrees.

But some schools are slow to adapt, raising the question: how and when will these legacy programs be disrupted? A survey of over 170 business school deans around the world showed that many programs are operating at a loss.

But if these schools are world-class business institutions, as advertised, why do they keep the doors open even while they lose money? The surveyed deans revealed an important insight: they keep the degree program open because of the program’s prestige.

Why Go to Business School?
Shorthand Credibility, Cognitive Biases, and Prestige
Regardless of what knowledge a person takes away from graduate school, attending one of the world’s most rigorous and elite programs gives grads external validation.

With over 55 percent of MBA applicants applying to just 6 percent of graduate business schools, we have a clear cognitive bias toward the perceived elite status of certain universities.

To the outside world, thanks to the power of cognitive biases, an advanced degree is credibility shorthand for your capabilities.

Simply passing through a top school’s filtration system means that you had some level of abilities and merits.

And startup success statistics tend to back up that perceived enhanced capability. Let’s take, for example, universities with the most startup unicorn founders (see the figure below).

When you consider the 320+ unicorn startups around the world today, these numbers become even more impressive. Stanford’s 18 unicorn companies account for over 5 percent of global unicorns, and Harvard is responsible for producing just under 5 percent.

Combined, just these two universities (out of over 5,000 in the US, and thousands more around the world) account for 1 in 10 of the billion-dollar private companies in the world.

By the numbers, the prestigious reputation of these elite business programs has a firm basis in current innovation success.

While prestige may be inherent to the degree earned by graduates from these business programs, the credibility boost from holding one of these degrees is not a guaranteed path to success in the business world.

For example, you might expect that the Harvard School of Business or Stanford Graduate School of Business would come out on top when tallying up the alma maters of Fortune 500 CEOs.

It turns out that the University of Wisconsin-Madison leads the business school pack with 14 CEOs to Harvard’s 12. Beyond prestige, the success these elite business programs see translates directly into cultivating unmatched networks and relationships.

Relationships
Graduate schools—particularly at the upper echelon—are excellent at attracting sharp students.

At an elite business school, if you meet just five to ten people with extraordinary skill sets, personalities, ideas, or networks, then you have returned your $200,000 education investment.

It’s no coincidence that some 40 percent of Silicon Valley venture capitalists are alumni of either Harvard or Stanford.

From future investors to advisors, friends, and potential business partners, relationships are critical to an entrepreneur’s success.

Apprenticeships
As we saw above, graduate business degree programs are melting away in the current wave of exponential change.

With an increasing $1.5 trillion in student debt, there must be a more impactful alternative to attending graduate school for those starting their careers.

When I think about the most important skills I use today as an entrepreneur, writer, and strategic thinker, they didn’t come from my decade of graduate school at Harvard or MIT… they came from my experiences building real technologies and companies, and working with mentors.

Apprenticeship comes in a variety of forms; here, I’ll cover three top-of-mind approaches:

Real-world business acumen via startup accelerators
A direct apprenticeship model
The 6 D’s of mentorship

Startup Accelerators and Business Practicum
Let’s contrast the shrinking interest in MBA programs with applications to a relatively new model of business education: startup accelerators.

Startup accelerators are short-term (typically three to six months), cohort-based programs focusing on providing startup founders with the resources (capital, mentorship, relationships, and education) needed to refine their entrepreneurial acumen.

While graduate business programs have been condensing, startup accelerators are alive, well, and expanding rapidly.

In the 10 years from 2005 (when Paul Graham founded Y Combinator) through 2015, the number of startup accelerators in the US increased by more than tenfold.

The increase in startup accelerator activity hints at a larger trend: our best and brightest business minds are opting to invest their time and efforts in obtaining hands-on experience, creating tangible value for themselves and others, rather than diving into the theory often taught in business school classrooms.

The “Strike Force” Model
The Strike Force is my elite team of young entrepreneurs who work directly with me across all of my companies, travel by my side, sit in on every meeting with me, and help build businesses that change the world.

Previous Strike Force members have gone on to launch successful companies, including Bold Capital Partners, my $250 million venture capital firm.

Strike Force is an apprenticeship for the next generation of exponential entrepreneurs.

To paraphrase my good friend Tony Robbins: If you want to short-circuit the video game, find someone who’s been there and done that and is now doing something you want to one day do.

Every year, over 500,000 apprentices in the US follow this precise template. These apprentices are learning a craft they wish to master, under the mentorship of experts (skilled metal workers, bricklayers, medical technicians, electricians, and more) who have already achieved the desired result.

What if we more readily applied this model to young adults with aspirations of creating massive value through the vehicles of entrepreneurship and innovation?

For the established entrepreneur: How can you bring young entrepreneurs into your organization to create more value for your company, while also passing on your ethos and lessons learned to the next generation?

For the young, driven millennial: How can you find your mentor and convince him or her to take you on as an apprentice? What value can you create for this person in exchange for their guidance and investment in your professional development?

The 6 D’s of Mentorship
In my last blog on education, I shared how mobile device and internet penetration will transform adult literacy and basic education. Mobile phones and connectivity already create extraordinary value for entrepreneurs and young professionals looking to take their business acumen and skill set to the next level.

For all of human history up until the last decade or so, if you wanted to learn from the best and brightest in business, leadership, or strategy, you either needed to search for a dated book that they wrote at the local library or bookstore, or you had to be lucky enough to meet that person for a live conversation.

Now you can access the mentorship of just about any thought leader on the planet, at any time, for free.

Thanks to the power of the internet, mentorship has digitized, demonetized, dematerialized, and democratized.

What do you want to learn about?

Investing? Leadership? Technology? Marketing? Project management?

You can access a near-infinite stream of cutting-edge tools, tactics, and lessons from thousands of top performers from nearly every field—instantaneously, and for free.

For example, every one of Warren Buffett’s letters to his Berkshire Hathaway investors over the past 40 years is available for free on a device that fits in your pocket.

The rise of audio—particularly podcasts and audiobooks—is another underestimated driving force away from traditional graduate business programs and toward apprenticeships.

Over 28 million podcast episodes are available for free. Once you identify the strong signals in the noise, you’re still left with thousands of hours of long-form podcast conversation from which to learn valuable lessons.

Whenever and wherever you want, you can learn from the world’s best. In the future, mentorship and apprenticeship will only become more personalized. Imagine accessing a high-fidelity, AI-powered avatar of Bill Gates, Richard Branson, or Arthur C. Clarke (one of my early mentors) to help guide you through your career.

Virtual mentorship and coaching are powerful education forces that are here to stay.

Bringing It All Together
The education system is rapidly changing. Traditional master’s programs for business are ebbing away in the tides of exponential technologies. Apprenticeship models are reemerging as an effective way to train tomorrow’s leaders.

In a future blog, I’ll revisit the concept of apprenticeships and other effective business school alternatives.

If you are a young, ambitious entrepreneur (or the parent of one), remember that you live in the most abundant time ever in human history to refine your craft.

Right now, you have access to world-class mentorship and cutting-edge best-practices—literally in the palm of your hand. What will you do with this extraordinary power?

Join Me
Abundance-Digital Online Community: I’ve created a Digital/Online community of bold, abundance-minded entrepreneurs called Abundance-Digital. Abundance-Digital is my ‘onramp’ for exponential entrepreneurs – those who want to get involved and play at a higher level. Click here to learn more.

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Posted in Human Robots

#434270 AI Will Create Millions More Jobs Than ...

In the past few years, artificial intelligence has advanced so quickly that it now seems hardly a month goes by without a newsworthy AI breakthrough. In areas as wide-ranging as speech translation, medical diagnosis, and gameplay, we have seen computers outperform humans in startling ways.

This has sparked a discussion about how AI will impact employment. Some fear that as AI improves, it will supplant workers, creating an ever-growing pool of unemployable humans who cannot compete economically with machines.

This concern, while understandable, is unfounded. In fact, AI will be the greatest job engine the world has ever seen.

New Technology Isn’t a New Phenomenon
On the one hand, those who predict massive job loss from AI can be excused. It is easier to see existing jobs disrupted by new technology than to envision what new jobs the technology will enable.

But on the other hand, radical technological advances aren’t a new phenomenon. Technology has progressed nonstop for 250 years, and in the US unemployment has stayed between 5 to 10 percent for almost all that time, even when radical new technologies like steam power and electricity came on the scene.

But you don’t have to look back to steam, or even electricity. Just look at the internet. Go back 25 years, well within the memory of today’s pessimistic prognosticators, to 1993. The web browser Mosaic had just been released, and the phrase “surfing the web,” that most mixed of metaphors, was just a few months old.

If someone had asked you what would be the result of connecting a couple billion computers into a giant network with common protocols, you might have predicted that email would cause us to mail fewer letters, and the web might cause us to read fewer newspapers and perhaps even do our shopping online. If you were particularly farsighted, you might have speculated that travel agents and stockbrokers would be adversely affected by this technology. And based on those surmises, you might have thought the internet would destroy jobs.

But now we know what really happened. The obvious changes did occur. But a slew of unexpected changes happened as well. We got thousands of new companies worth trillions of dollars. We bettered the lot of virtually everyone on the planet touched by the technology. Dozens of new careers emerged, from web designer to data scientist to online marketer. The cost of starting a business with worldwide reach plummeted, and the cost of communicating with customers and leads went to nearly zero. Vast storehouses of information were made freely available and used by entrepreneurs around the globe to build new kinds of businesses.

But yes, we mail fewer letters and buy fewer newspapers.

The Rise of Artificial Intelligence
Then along came a new, even bigger technology: artificial intelligence. You hear the same refrain: “It will destroy jobs.”

Consider the ATM. If you had to point to a technology that looked as though it would replace people, the ATM might look like a good bet; it is, after all, an automated teller machine. And yet, there are more tellers now than when ATMs were widely released. How can this be? Simple: ATMs lowered the cost of opening bank branches, and banks responded by opening more, which required hiring more tellers.

In this manner, AI will create millions of jobs that are far beyond our ability to imagine. For instance, AI is becoming adept at language translation—and according to the US Bureau of Labor Statistics, demand for human translators is skyrocketing. Why? If the cost of basic translation drops to nearly zero, the cost of doing business with those who speak other languages falls. Thus, it emboldens companies to do more business overseas, creating more work for human translators. AI may do the simple translations, but humans are needed for the nuanced kind.

In fact, the BLS forecasts faster-than-average job growth in many occupations that AI is expected to impact: accountants, forensic scientists, geological technicians, technical writers, MRI operators, dietitians, financial specialists, web developers, loan officers, medical secretaries, and customer service representatives, to name a very few. These fields will not experience job growth in spite of AI, but through it.

But just as with the internet, the real gains in jobs will come from places where our imaginations cannot yet take us.

Parsing Pessimism
You may recall waking up one morning to the news that “47 percent of jobs will be lost to technology.”

That report by Carl Frey and Michael Osborne is a fine piece of work, but readers and the media distorted their 47 percent number. What the authors actually said is that some functions within 47 percent of jobs will be automated, not that 47 percent of jobs will disappear.

Frey and Osborne go on to rank occupations by “probability of computerization” and give the following jobs a 65 percent or higher probability: social science research assistants, atmospheric and space scientists, and pharmacy aides. So what does this mean? Social science professors will no longer have research assistants? Of course they will. They will just do different things because much of what they do today will be automated.

The intergovernmental Organization for Economic Co-operation and Development released a report of their own in 2016. This report, titled “The Risk of Automation for Jobs in OECD Countries,” applies a different “whole occupations” methodology and puts the share of jobs potentially lost to computerization at nine percent. That is normal churn for the economy.

But what of the skills gap? Will AI eliminate low-skilled workers and create high-skilled job opportunities? The relevant question is whether most people can do a job that’s just a little more complicated than the one they currently have. This is exactly what happened with the industrial revolution; farmers became factory workers, factory workers became factory managers, and so on.

Embracing AI in the Workplace
A January 2018 Accenture report titled “Reworking the Revolution” estimates that new applications of AI combined with human collaboration could boost employment worldwide as much as 10 percent by 2020.

Electricity changed the world, as did mechanical power, as did the assembly line. No one can reasonably claim that we would be better off without those technologies. Each of them bettered our lives, created jobs, and raised wages. AI will be bigger than electricity, bigger than mechanization, bigger than anything that has come before it.

This is how free economies work, and why we have never run out of jobs due to automation. There are not a fixed number of jobs that automation steals one by one, resulting in progressively more unemployment. There are as many jobs in the world as there are buyers and sellers of labor.

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Posted in Human Robots

#434246 How AR and VR Will Shape the Future of ...

How we work and play is about to transform.

After a prolonged technology “winter”—or what I like to call the ‘deceptive growth’ phase of any exponential technology—the hardware and software that power virtual (VR) and augmented reality (AR) applications are accelerating at an extraordinary rate.

Unprecedented new applications in almost every industry are exploding onto the scene.

Both VR and AR, combined with artificial intelligence, will significantly disrupt the “middleman” and make our lives “auto-magical.” The implications will touch every aspect of our lives, from education and real estate to healthcare and manufacturing.

The Future of Work
How and where we work is already changing, thanks to exponential technologies like artificial intelligence and robotics.

But virtual and augmented reality are taking the future workplace to an entirely new level.

Virtual Reality Case Study: eXp Realty

I recently interviewed Glenn Sanford, who founded eXp Realty in 2008 (imagine: a real estate company on the heels of the housing market collapse) and is the CEO of eXp World Holdings.

Ten years later, eXp Realty has an army of 14,000 agents across all 50 US states, three Canadian provinces, and 400 MLS market areas… all without a single traditional staffed office.

In a bid to transition from 2D interfaces to immersive, 3D work experiences, virtual platform VirBELA built out the company’s office space in VR, unlocking indefinite scaling potential and an extraordinary new precedent.

Real estate agents, managers, and even clients gather in a unique virtual campus, replete with a sports field, library, and lobby. It’s all accessible via head-mounted displays, but most agents join with a computer browser. Surprisingly, the campus-style setup enables the same type of water-cooler conversations I see every day at the XPRIZE headquarters.

With this centralized VR campus, eXp Realty has essentially thrown out overhead costs and entered a lucrative market without the same constraints of brick-and-mortar businesses.

Delocalize with VR, and you can now hire anyone with internet access (right next door or on the other side of the planet), redesign your corporate office every month, throw in an ocean-view office or impromptu conference room for client meetings, and forget about guzzled-up hours in traffic.

As a leader, what happens when you can scalably expand and connect your workforce, not to mention your customer base, without the excess overhead of office space and furniture? Your organization can run faster and farther than your competition.

But beyond the indefinite scalability achieved through digitizing your workplace, VR’s implications extend to the lives of your employees and even the future of urban planning:

Home Prices: As virtual headquarters and office branches take hold of the 21st-century workplace, those who work on campuses like eXp Realty’s won’t need to commute to work. As a result, VR has the potential to dramatically influence real estate prices—after all, if you don’t need to drive to an office, your home search isn’t limited to a specific set of neighborhoods anymore.

Transportation: In major cities like Los Angeles and San Francisco, the implications are tremendous. Analysts have revealed that it’s already cheaper to use ride-sharing services like Uber and Lyft than to own a car in many major cities. And once autonomous “Car-as-a-Service” platforms proliferate, associated transportation costs like parking fees, fuel, and auto repairs will no longer fall on the individual, if not entirely disappear.

Augmented Reality: Annotate and Interact with Your Workplace

As I discussed in a recent Spatial Web blog, not only will Web 3.0 and VR advancements allow us to build out virtual worlds, but we’ll soon be able to digitally map our real-world physical offices or entire commercial high-rises.

Enter a professional world electrified by augmented reality.

Our workplaces are practically littered with information. File cabinets abound with archival data and relevant documents, and company databases continue to grow at a breakneck pace. And, as all of us are increasingly aware, cybersecurity and robust data permission systems remain a major concern for CEOs and national security officials alike.

What if we could link that information to specific locations, people, time frames, and even moving objects?

As data gets added and linked to any given employee’s office, conference room, or security system, we might then access online-merge-offline environments and information through augmented reality.

Imagine showing up at your building’s concierge and your AR glasses automatically check you into the building, authenticating your identity and pulling up any reminders you’ve linked to that specific location.

You stop by a friend’s office, and his smart security system lets you know he’ll arrive in an hour. Need to book a public conference room that’s already been scheduled by another firm’s marketing team? Offer to pay them a fee and, once accepted, a smart transaction will automatically deliver a payment to their company account.

With blockchain-verified digital identities, spatially logged data, and virtually manifest information, business logistics take a fraction of the time, operations grow seamless, and corporate data will be safer than ever.

Or better yet, imagine precise and high-dexterity work environments populated with interactive annotations that guide an artisan, surgeon, or engineer through meticulous handiwork.

Take, for instance, AR service 3D4Medical, which annotates virtual anatomy in midair. And as augmented reality hardware continues to advance, we might envision a future wherein surgeons perform operations on annotated organs and magnified incision sites, or one in which quantum computer engineers can magnify and annotate mechanical parts, speeding up reaction times and vastly improving precision.

The Future of Free Time and Play
In Abundance, I wrote about today’s rapidly demonetizing cost of living. In 2011, almost 75 percent of the average American’s income was spent on housing, transportation, food, personal insurance, health, and entertainment. What the headlines don’t mention: this is a dramatic improvement over the last 50 years. We’re spending less on basic necessities and working fewer hours than previous generations.

Chart depicts the average weekly work hours for full-time production employees in non-agricultural activities. Source: Diamandis.com data
Technology continues to change this, continues to take care of us and do our work for us. One phrase that describes this is “technological socialism,” where it’s technology, not the government, that takes care of us.

Extrapolating from the data, I believe we are heading towards a post-scarcity economy. Perhaps we won’t need to work at all, because we’ll own and operate our own fleet of robots or AI systems that do our work for us.

As living expenses demonetize and workplace automation increases, what will we do with this abundance of time? How will our children and grandchildren connect and find their purpose if they don’t have to work for a living?

As I write this on a Saturday afternoon and watch my two seven-year-old boys immersed in Minecraft, building and exploring worlds of their own creation, I can’t help but imagine that this future is about to enter its disruptive phase.

Exponential technologies are enabling a new wave of highly immersive games, virtual worlds, and online communities. We’ve likely all heard of the Oasis from Ready Player One. But far beyond what we know today as ‘gaming,’ VR is fast becoming a home to immersive storytelling, interactive films, and virtual world creation.

Within the virtual world space, let’s take one of today’s greatest precursors, the aforementioned game Minecraft.

For reference, Minecraft is over eight times the size of planet Earth. And in their free time, my kids would rather build in Minecraft than almost any other activity. I think of it as their primary passion: to create worlds, explore worlds, and be challenged in worlds.

And in the near future, we’re all going to become creators of or participants in virtual worlds, each populated with assets and storylines interoperable with other virtual environments.

But while the technological methods are new, this concept has been alive and well for generations. Whether you got lost in the world of Heidi or Harry Potter, grew up reading comic books or watching television, we’ve all been playing in imaginary worlds, with characters and story arcs populating our minds. That’s the nature of childhood.

In the past, however, your ability to edit was limited, especially if a given story came in some form of 2D media. I couldn’t edit where Tom Sawyer was going or change what Iron Man was doing. But as a slew of new software advancements underlying VR and AR allow us to interact with characters and gain (albeit limited) agency (for now), both new and legacy stories will become subjects of our creation and playgrounds for virtual interaction.

Take VR/AR storytelling startup Fable Studio’s Wolves in the Walls film. Debuting at the 2018 Sundance Film Festival, Fable’s immersive story is adapted from Neil Gaiman’s book and tracks the protagonist, Lucy, whose programming allows her to respond differently based on what her viewers do.

And while Lucy can merely hand virtual cameras to her viewers among other limited tasks, Fable Studio’s founder Edward Saatchi sees this project as just the beginning.

Imagine a virtual character—either in augmented or virtual reality—geared with AI capabilities, that now can not only participate in a fictional storyline but interact and dialogue directly with you in a host of virtual and digitally overlayed environments.

Or imagine engaging with a less-structured environment, like the Star Wars cantina, populated with strangers and friends to provide an entirely novel social media experience.

Already, we’ve seen characters like that of Pokémon brought into the real world with Pokémon Go, populating cities and real spaces with holograms and tasks. And just as augmented reality has the power to turn our physical environments into digital gaming platforms, advanced AR could bring on a new era of in-home entertainment.

Imagine transforming your home into a narrative environment for your kids or overlaying your office interior design with Picasso paintings and gothic architecture. As computer vision rapidly grows capable of identifying objects and mapping virtual overlays atop them, we might also one day be able to project home theaters or live sports within our homes, broadcasting full holograms that allow us to zoom into the action and place ourselves within it.

Increasingly honed and commercialized, augmented and virtual reality are on the cusp of revolutionizing the way we play, tell stories, create worlds, and interact with both fictional characters and each other.

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