Tag Archives: global
#434260 The Most Surprising Tech Breakthroughs ...
Development across the entire information technology landscape certainly didn’t slow down this year. From CRISPR babies, to the rapid decline of the crypto markets, to a new robot on Mars, and discovery of subatomic particles that could change modern physics as we know it, there was no shortage of headline-grabbing breakthroughs and discoveries.
As 2018 comes to a close, we can pause and reflect on some of the biggest technology breakthroughs and scientific discoveries that occurred this year.
I reached out to a few Singularity University speakers and faculty across the various technology domains we cover asking what they thought the biggest breakthrough was in their area of expertise. The question posed was:
“What, in your opinion, was the biggest development in your area of focus this year? Or, what was the breakthrough you were most surprised by in 2018?”
I can share that for me, hands down, the most surprising development I came across in 2018 was learning that a publicly-traded company that was briefly valued at over $1 billion, and has over 12,000 employees and contractors spread around the world, has no physical office space and the entire business is run and operated from inside an online virtual world. This is Ready Player One stuff happening now.
For the rest, here’s what our experts had to say.
DIGITAL BIOLOGY
Dr. Tiffany Vora | Faculty Director and Vice Chair, Digital Biology and Medicine, Singularity University
“That’s easy: CRISPR babies. I knew it was technically possible, and I’ve spent two years predicting it would happen first in China. I knew it was just a matter of time but I failed to predict the lack of oversight, the dubious consent process, the paucity of publicly-available data, and the targeting of a disease that we already know how to prevent and treat and that the children were at low risk of anyway.
I’m not convinced that this counts as a technical breakthrough, since one of the girls probably isn’t immune to HIV, but it sure was a surprise.”
For more, read Dr. Vora’s summary of this recent stunning news from China regarding CRISPR-editing human embryos.
QUANTUM COMPUTING
Andrew Fursman | Co-Founder/CEO 1Qbit, Faculty, Quantum Computing, Singularity University
“There were two last-minute holiday season surprise quantum computing funding and technology breakthroughs:
First, right before the government shutdown, one priority legislative accomplishment will provide $1.2 billion in quantum computing research over the next five years. Second, there’s the rise of ions as a truly viable, scalable quantum computing architecture.”
*Read this Gizmodo profile on an exciting startup in the space to learn more about this type of quantum computing
ENERGY
Ramez Naam | Chair, Energy and Environmental Systems, Singularity University
“2018 had plenty of energy surprises. In solar, we saw unsubsidized prices in the sunny parts of the world at just over two cents per kwh, or less than half the price of new coal or gas electricity. In the US southwest and Texas, new solar is also now cheaper than new coal or gas. But even more shockingly, in Germany, which is one of the least sunny countries on earth (it gets less sunlight than Canada) the average bid for new solar in a 2018 auction was less than 5 US cents per kwh. That’s as cheap as new natural gas in the US, and far cheaper than coal, gas, or any other new electricity source in most of Europe.
In fact, it’s now cheaper in some parts of the world to build new solar or wind than to run existing coal plants. Think tank Carbon Tracker calculates that, over the next 10 years, it will become cheaper to build new wind or solar than to operate coal power in most of the world, including specifically the US, most of Europe, and—most importantly—India and the world’s dominant burner of coal, China.
Here comes the sun.”
GLOBAL GRAND CHALLENGES
Darlene Damm | Vice Chair, Faculty, Global Grand Challenges, Singularity University
“In 2018 we saw a lot of areas in the Global Grand Challenges move forward—advancements in robotic farming technology and cultured meat, low-cost 3D printed housing, more sophisticated types of online education expanding to every corner of the world, and governments creating new policies to deal with the ethics of the digital world. These were the areas we were watching and had predicted there would be change.
What most surprised me was to see young people, especially teenagers, start to harness technology in powerful ways and use it as a platform to make their voices heard and drive meaningful change in the world. In 2018 we saw teenagers speak out on a number of issues related to their well-being and launch digital movements around issues such as gun and school safety, global warming and environmental issues. We often talk about the harm technology can cause to young people, but on the flip side, it can be a very powerful tool for youth to start changing the world today and something I hope we see more of in the future.”
BUSINESS STRATEGY
Pascal Finette | Chair, Entrepreneurship and Open Innovation, Singularity University
“Without a doubt the rapid and massive adoption of AI, specifically deep learning, across industries, sectors, and organizations. What was a curiosity for most companies at the beginning of the year has quickly made its way into the boardroom and leadership meetings, and all the way down into the innovation and IT department’s agenda. You are hard-pressed to find a mid- to large-sized company today that is not experimenting or implementing AI in various aspects of its business.
On the slightly snarkier side of answering this question: The very rapid decline in interest in blockchain (and cryptocurrencies). The blockchain party was short, ferocious, and ended earlier than most would have anticipated, with a huge hangover for some. The good news—with the hot air dissipated, we can now focus on exploring the unique use cases where blockchain does indeed offer real advantages over centralized approaches.”
*Author note: snark is welcome and appreciated
ROBOTICS
Hod Lipson | Director, Creative Machines Lab, Columbia University
“The biggest surprise for me this year in robotics was learning dexterity. For decades, roboticists have been trying to understand and imitate dexterous manipulation. We humans seem to be able to manipulate objects with our fingers with incredible ease—imagine sifting through a bunch of keys in the dark, or tossing and catching a cube. And while there has been much progress in machine perception, dexterous manipulation remained elusive.
There seemed to be something almost magical in how we humans can physically manipulate the physical world around us. Decades of research in grasping and manipulation, and millions of dollars spent on robot-hand hardware development, has brought us little progress. But in late 2018, the Berkley OpenAI group demonstrated that this hurdle may finally succumb to machine learning as well. Given 200 years worth of practice, machines learned to manipulate a physical object with amazing fluidity. This might be the beginning of a new age for dexterous robotics.”
MACHINE LEARNING
Jeremy Howard | Founding Researcher, fast.ai, Founder/CEO, Enlitic, Faculty Data Science, Singularity University
“The biggest development in machine learning this year has been the development of effective natural language processing (NLP).
The New York Times published an article last month titled “Finally, a Machine That Can Finish Your Sentence,” which argued that NLP neural networks have reached a significant milestone in capability and speed of development. The “finishing your sentence” capability mentioned in the title refers to a type of neural network called a “language model,” which is literally a model that learns how to finish your sentences.
Earlier this year, two systems (one, called ELMO, is from the Allen Institute for AI, and the other, called ULMFiT, was developed by me and Sebastian Ruder) showed that such a model could be fine-tuned to dramatically improve the state-of-the-art in nearly every NLP task that researchers study. This work was further developed by OpenAI, which in turn was greatly scaled up by Google Brain, who created a system called BERT which reached human-level performance on some of NLP’s toughest challenges.
Over the next year, expect to see fine-tuned language models used for everything from understanding medical texts to building disruptive social media troll armies.”
DIGITAL MANUFACTURING
Andre Wegner | Founder/CEO Authentise, Chair, Digital Manufacturing, Singularity University
“Most surprising to me was the extent and speed at which the industry finally opened up.
While previously, only few 3D printing suppliers had APIs and knew what to do with them, 2018 saw nearly every OEM (or original equipment manufacturer) enabling data access and, even more surprisingly, shying away from proprietary standards and adopting MTConnect, as stalwarts such as 3D Systems and Stratasys have been. This means that in two to three years, data access to machines will be easy, commonplace, and free. The value will be in what is being done with that data.
Another example of this openness are the seemingly endless announcements of integrated workflows: GE’s announcement with most major software players to enable integrated solutions, EOS’s announcement with Siemens, and many more. It’s clear that all actors in the additive ecosystem have taken a step forward in terms of openness. The result is a faster pace of innovation, particularly in the software and data domains that are crucial to enabling comprehensive digital workflow to drive agile and resilient manufacturing.
I’m more optimistic we’ll achieve that now than I was at the end of 2017.”
SCIENCE AND DISCOVERY
Paul Saffo | Chair, Future Studies, Singularity University, Distinguished Visiting Scholar, Stanford Media-X Research Network
“The most important development in technology this year isn’t a technology, but rather the astonishing science surprises made possible by recent technology innovations. My short list includes the discovery of the “neptmoon”, a Neptune-scale moon circling a Jupiter-scale planet 8,000 lightyears from us; the successful deployment of the Mars InSight Lander a month ago; and the tantalizing ANITA detection (what could be a new subatomic particle which would in turn blow the standard model wide open). The highest use of invention is to support science discovery, because those discoveries in turn lead us to the future innovations that will improve the state of the world—and fire up our imaginations.”
ROBOTICS
Pablos Holman | Inventor, Hacker, Faculty, Singularity University
“Just five or ten years ago, if you’d asked any of us technologists “What is harder for robots? Eyes, or fingers?” We’d have all said eyes. Robots have extraordinary eyes now, but even in a surgical robot, the fingers are numb and don’t feel anything. Stanford robotics researchers have invented fingertips that can feel, and this will be a kingpin that allows robots to go everywhere they haven’t been yet.”
BLOCKCHAIN
Nathana Sharma | Blockchain, Policy, Law, and Ethics, Faculty, Singularity University
“2017 was the year of peak blockchain hype. 2018 has been a year of resetting expectations and technological development, even as the broader cryptocurrency markets have faced a winter. It’s now about seeing adoption and applications that people want and need to use rise. An incredible piece of news from December 2018 is that Facebook is developing a cryptocurrency for users to make payments through Whatsapp. That’s surprisingly fast mainstream adoption of this new technology, and indicates how powerful it is.”
ARTIFICIAL INTELLIGENCE
Neil Jacobstein | Chair, Artificial Intelligence and Robotics, Singularity University
“I think one of the most visible improvements in AI was illustrated by the Boston Dynamics Parkour video. This was not due to an improvement in brushless motors, accelerometers, or gears. It was due to improvements in AI algorithms and training data. To be fair, the video released was cherry-picked from numerous attempts, many of which ended with a crash. However, the fact that it could be accomplished at all in 2018 was a real win for both AI and robotics.”
NEUROSCIENCE
Divya Chander | Chair, Neuroscience, Singularity University
“2018 ushered in a new era of exponential trends in non-invasive brain modulation. Changing behavior or restoring function takes on a new meaning when invasive interfaces are no longer needed to manipulate neural circuitry. The end of 2018 saw two amazing announcements: the ability to grow neural organoids (mini-brains) in a dish from neural stem cells that started expressing electrical activity, mimicking the brain function of premature babies, and the first (known) application of CRISPR to genetically alter two fetuses grown through IVF. Although this was ostensibly to provide genetic resilience against HIV infections, imagine what would happen if we started tinkering with neural circuitry and intelligence.”
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Posted in Human Robots
#434235 The Milestones of Human Progress We ...
When you look back at 2018, do you see a good or a bad year? Chances are, your perception of the year involves fixating on all the global and personal challenges it brought. In fact, every year, we tend to look back at the previous year as “one of the most difficult” and hope that the following year is more exciting and fruitful.
But in the grander context of human history, 2018 was an extraordinarily positive year. In fact, every year has been getting progressively better.
Before we dive into some of the highlights of human progress from 2018, let’s make one thing clear. There is no doubt that there are many overwhelming global challenges facing our species. From climate change to growing wealth inequality, we are far from living in a utopia.
Yet it’s important to recognize that both our news outlets and audiences have been disproportionately fixated on negative news. This emphasis on bad news is detrimental to our sense of empowerment as a species.
So let’s take a break from all the disproportionate negativity and have a look back on how humanity pushed boundaries in 2018.
On Track to Becoming an Interplanetary Species
We often forget how far we’ve come since the very first humans left the African savanna, populated the entire planet, and developed powerful technological capabilities. Our desire to explore the unknown has shaped the course of human evolution and will continue to do so.
This year, we continued to push the boundaries of space exploration. As depicted in the enchanting short film Wanderers, humanity’s destiny is the stars. We are born to be wanderers of the cosmos and the everlasting unknown.
SpaceX had 21 successful launches in 2018 and closed the year with a successful GPS launch. The latest test flight by Virgin Galactic was also an incredible milestone, as SpaceShipTwo was welcomed into space. Richard Branson and his team expect that space tourism will be a reality within the next 18 months.
Our understanding of the cosmos is also moving forward with continuous breakthroughs in astrophysics and astronomy. One notable example is the MARS InSight Mission, which uses cutting-edge instruments to study Mars’ interior structure and has even given us the first recordings of sound on Mars.
Understanding and Tackling Disease
Thanks to advancements in science and medicine, we are currently living longer, healthier, and wealthier lives than at any other point in human history. In fact, for most of human history, life expectancy at birth was around 30. Today it is more than 70 worldwide, and in the developed parts of the world, more than 80.
Brilliant researchers around the world are pushing for even better health outcomes. This year, we saw promising treatments emerge against Alzheimers disease, rheumatoid arthritis, multiple scleroris, and even the flu.
The deadliest disease of them all, cancer, is also being tackled. According to the American Association of Cancer Research, 22 revolutionary treatments for cancer were approved in the last year, and the death rate in adults is also in decline. Advancements in immunotherapy, genetic engineering, stem cells, and nanotechnology are all powerful resources to tackle killer diseases.
Breakthrough Mental Health Therapy
While cleaner energy, access to education, and higher employment rates can improve quality of life, they do not guarantee happiness and inner peace. According to the World Economic Forum, mental health disorders affect one in four people globally, and in many places they are significantly under-reported. More people are beginning to realize that our mental health is just as important as our physical health, and that we ought to take care of our minds just as much as our bodies.
We are seeing the rise of applications that put mental well-being at their center. Breakthrough advancements in genetics are allowing us to better understand the genetic makeup of disorders like clinical depression or Schizophrenia, and paving the way for personalized medical treatment. We are also seeing the rise of increasingly effective therapeutic treatments for anxiety.
This year saw many milestones for a whole new revolutionary area in mental health: psychedelic therapy. Earlier this summer, the FDA granted breakthrough therapy designation to MDMA for the treatment of PTSD, after several phases of successful trails. Similar research has discovered that Psilocybin (also known as magic mushrooms) combined with therapy is far more effective than traditional forms of treatment for depression and anxiety.
Moral and Social Progress
Innovation is often associated with economic and technological progress. However, we also need leaps of progress in our morality, values, and policies. Throughout the 21st century, we’ve made massive strides in rights for women and children, civil rights, LGBT rights, animal rights, and beyond. However, with rising nationalism and xenophobia in many parts of the developed world, there is significant work to be done on this front.
All hope is not lost, as we saw many noteworthy milestones this year. In January 2018, Iceland introduced the equal wage law, bringing an end to the gender wage gap. On September 6th, the Indian Supreme Court decriminalized homosexuality, marking a historical moment. Earlier in December, the European Commission released a draft of ethics guidelines for trustworthy artificial intelligence. Such are just a few examples of positive progress in social justice, ethics, and policy.
We are also seeing a global rise in social impact entrepreneurship. Emerging startups are no longer valued simply based on their profits and revenue, but also on the level of positive impact they are having on the world at large. The world’s leading innovators are not asking themselves “How can I become rich?” but rather “How can I solve this global challenge?”
Intelligently Optimistic for 2019
It’s becoming more and more clear that we are living in the most exciting time in human history. Even more, we mustn’t be afraid to be optimistic about 2019.
An optimistic mindset can be grounded in rationality and evidence. Intelligent optimism is all about being excited about the future in an informed and rational way. The mindset is critical if we are to get everyone excited about the future by highlighting the rapid progress we have made and recognizing the tremendous potential humans have to find solutions to our problems.
In his latest TED talk, Steven Pinker points out, “Progress does not mean that everything becomes better for everyone everywhere all the time. That would be a miracle, and progress is not a miracle but problem-solving. Problems are inevitable and solutions create new problems which have to be solved in their turn.”
Let us not forget that in cosmic time scales, our entire species’ lifetime, including all of human history, is the equivalent of the blink of an eye. The probability of us existing both as an intelligent species and as individuals is so astoundingly low that it’s practically non-existent. We are the products of 14 billion years of cosmic evolution and extraordinarily good fortune. Let’s recognize and leverage this wondrous opportunity, and pave an exciting way forward.
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#433928 The Surprising Parallels Between ...
The human mind can be a confusing and overwhelming place. Despite incredible leaps in human progress, many of us still struggle to make our peace with our thoughts. The roots of this are complex and multifaceted. To find explanations for the global mental health epidemic, one can tap into neuroscience, psychology, evolutionary biology, or simply observe the meaningless systems that dominate our modern-day world.
This is not only the context of our reality but also that of the critically-acclaimed Netflix series, Maniac. Psychological dark comedy meets science fiction, Maniac is a retro, futuristic, and hallucinatory trip that is filled with hidden symbols. Directed by Cary Joji Fukunaga, the series tells the story of two strangers who decide to participate in the final stage of a “groundbreaking” pharmaceutical trial—one that combines novel pharmaceuticals with artificial intelligence, and promises to make their emotional pain go away.
Naturally, things don’t go according to plan.
From exams used for testing defense mechanisms to techniques such as cognitive behavioral therapy, the narrative infuses genuine psychological science. As perplexing as the series may be to some viewers, many of the tools depicted actually have a strong grounding in current technological advancements.
Catalysts for Alleviating Suffering
In the therapy of Maniac, participants undergo a three-day trial wherein they ingest three pills and appear to connect their consciousness to a superintelligent AI. Each participant is hurled into the traumatic experiences imprinted in their subconscious and forced to cope with them in a series of hallucinatory and dream-like experiences.
Perhaps the most recognizable parallel that can be drawn is with the latest advancements in psychedelic therapy. Psychedelics are a class of drugs that alter the experience of consciousness, and often cause radical changes in perception and cognitive processes.
Through a process known as transient hypofrontality, the executive “over-thinking” parts of our brains get a rest, and deeper areas become more active. This experience, combined with the breakdown of the ego, is often correlated with feelings of timelessness, peacefulness, presence, unity, and above all, transcendence.
Despite being not addictive and extremely difficult to overdose on, regulators looked down on the use of psychedelics for decades and many continue to dismiss them as “party drugs.” But in the last few years, all of this began to change.
Earlier this summer, the FDA granted breakthrough therapy designation to MDMA for the treatment of PTSD, after several phases of successful trails. Similar research has discovered that Psilocybin (also known as magic mushrooms) combined with therapy is far more effective than traditional forms of treatment to treat depression and anxiety. Today, there is a growing and overwhelming body of research that proves that not only are psychedelics such as LSD, MDMA, or Psylicybin effective catalysts to alleviate suffering and enhance the human condition, but they are potentially the most effective tools out there.
It’s important to realize that these substances are not solutions on their own, but rather catalysts for more effective therapy. They can be groundbreaking, but only in the right context and setting.
Brain-Machine Interfaces
In Maniac, the medication-assisted therapy is guided by what appears to be a super-intelligent form of artificial intelligence called the GRTA, nicknamed Gertie. Gertie, who is a “guide” in machine form, accesses the minds of the participants through what appears to be a futuristic brain-scanning technology and curates customized hallucinatory experiences with the goal of accelerating the healing process.
Such a powerful form of brain-scanning technology is not unheard of. Current levels of scanning technology are already allowing us to decipher dreams and connect three human brains, and are only growing exponentially. Though they are nowhere as advanced as Gertie (we have a long way to go before we get to this kind of general AI), we are also seeing early signs of AI therapy bots, chatbots that listen, think, and communicate with users like a therapist would.
The parallels between current advancements in mental health therapy and the methods in Maniac can be startling, and are a testament to how science fiction and the arts can be used to explore the existential implications of technology.
Not Necessarily a Dystopia
While there are many ingenious similarities between the technology in Maniac and the state of mental health therapy, it’s important to recognize the stark differences. Like many other blockbuster science fiction productions, Maniac tells a fundamentally dystopian tale.
The series tells the story of the 73rd iteration of a controversial drug trial, one that has experienced many failures and even led to various participants being braindead. The scientists appear to be evil, secretive, and driven by their own superficial agendas and deep unresolved emotional issues.
In contrast, clinicians and researchers are not only required to file an “investigational new drug application” with the FDA (and get approval) but also update the agency with safety and progress reports throughout the trial.
Furthermore, many of today’s researchers are driven by a strong desire to contribute to the well-being and progress of our species. Even more, the results of decades of research by organizations like MAPS have been exceptionally promising and aligned with positive values. While Maniac is entertaining and thought-provoking, viewers must not forget the positive potential of such advancements in mental health therapy.
Science, technology, and psychology aside, Maniac is a deep commentary on the human condition and the often disorienting states that pain us all. Within any human lifetime, suffering is inevitable. It is the disproportionate, debilitating, and unjust levels of suffering that we ought to tackle as a society. Ultimately, Maniac explores whether advancements in science and technology can help us live not a life devoid of suffering, but one where it is balanced with fulfillment.
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#433907 How the Spatial Web Will Fix What’s ...
Converging exponential technologies will transform media, advertising and the retail world. The world we see, through our digitally-enhanced eyes, will multiply and explode with intelligence, personalization, and brilliance.
This is the age of Web 3.0.
Last week, I discussed the what and how of Web 3.0 (also known as the Spatial Web), walking through its architecture and the converging technologies that enable it.
To recap, while Web 1.0 consisted of static documents and read-only data, Web 2.0 introduced multimedia content, interactive web applications, and participatory social media, all of these mediated by two-dimensional screens—a flat web of sensorily confined information.
During the next two to five years, the convergence of 5G, AI, a trillion sensors, and VR/AR will enable us to both map our physical world into virtual space and superimpose a digital layer onto our physical environments.
Web 3.0 is about to transform everything—from the way we learn and educate, to the way we trade (smart) assets, to our interactions with real and virtual versions of each other.
And while users grow rightly concerned about data privacy and misuse, the Spatial Web’s use of blockchain in its data and governance layer will secure and validate our online identities, protecting everything from your virtual assets to personal files.
In this second installment of the Web 3.0 series, I’ll be discussing the Spatial Web’s vast implications for a handful of industries:
News & Media Coverage
Smart Advertising
Personalized Retail
Let’s dive in.
Transforming Network News with Web 3.0
News media is big business. In 2016, global news media (including print) generated 168 billion USD in circulation and advertising revenue.
The news we listen to impacts our mindset. Listen to dystopian news on violence, disaster, and evil, and you’ll more likely be searching for a cave to hide in, rather than technology for the launch of your next business.
Today, different news media present starkly different realities of everything from foreign conflict to domestic policy. And outcomes are consequential. What reporters and news corporations decide to show or omit of a given news story plays a tremendous role in shaping the beliefs and resulting values of entire populations and constituencies.
But what if we could have an objective benchmark for today’s news, whereby crowdsourced and sensor-collected evidence allows you to tour the site of journalistic coverage, determining for yourself the most salient aspects of a story?
Enter mesh networks, AI, public ledgers, and virtual reality.
While traditional networks rely on a limited set of wired access points (or wireless hotspots), a wireless mesh network can connect entire cities via hundreds of dispersed nodes that communicate with each other and share a network connection non-hierarchically.
In short, this means that individual mobile users can together establish a local mesh network using nothing but the computing power in their own devices.
Take this a step further, and a local population of strangers could collectively broadcast countless 360-degree feeds across a local mesh network.
Imagine a scenario in which protests break out across the country, each cluster of activists broadcasting an aggregate of 360-degree videos, all fed through photogrammetry AIs that build out a live hologram of the march in real time. Want to see and hear what the NYC-based crowds are advocating for? Throw on some VR goggles and explore the event with full access. Or cue into the southern Texan border to assess for yourself the handling of immigrant entry and border conflicts.
Take a front seat in the Capitol during tomorrow’s Senate hearing, assessing each Senator’s reactions, questions and arguments without a Fox News or CNN filter. Or if you’re short on time, switch on the holographic press conference and host 3D avatars of live-broadcasting politicians in your living room.
We often think of modern media as taking away consumer agency, feeding tailored and often partisan ideology to a complacent audience. But as wireless mesh networks and agnostic sensor data allow for immersive VR-accessible news sites, the average viewer will necessarily become an active participant in her own education of current events.
And with each of us interpreting the news according to our own values, I envision a much less polarized world. A world in which civic engagement, moderately reasoned dialogue, and shared assumptions will allow us to empathize and make compromises.
The future promises an era in which news is verified and balanced; wherein public ledgers, AI, and new web interfaces bring you into the action and respect your intelligence—not manipulate your ignorance.
Web 3.0 Reinventing Advertising
Bringing about the rise of ‘user-owned data’ and self-established permissions, Web 3.0 is poised to completely disrupt digital advertising—a global industry worth over 192 billion USD.
Currently, targeted advertising leverages tomes of personal data and online consumer behavior to subtly engage you with products you might not want, or sell you on falsely advertised services promising inaccurate results.
With a new Web 3.0 data and governance layer, however, distributed ledger technologies will require advertisers to engage in more direct interaction with consumers, validating claims and upping transparency.
And with a data layer that allows users to own and authorize third-party use of their data, blockchain also holds extraordinary promise to slash not only data breaches and identity theft, but covert advertiser bombardment without your authorization.
Accessing crowdsourced reviews and AI-driven fact-checking, users will be able to validate advertising claims more efficiently and accurately than ever before, potentially rating and filtering out advertisers in the process. And in such a streamlined system of verified claims, sellers will face increased pressure to compete more on product and rely less on marketing.
But perhaps most exciting is the convergence of artificial intelligence and augmented reality.
As Spatial Web networks begin to associate digital information with physical objects and locations, products will begin to “sell themselves.” Each with built-in smart properties, products will become hyper-personalized, communicating information directly to users through Web 3.0 interfaces.
Imagine stepping into a department store in pursuit of a new web-connected fridge. As soon as you enter, your AR goggles register your location and immediately grant you access to a populated register of store products.
As you move closer to a kitchen set that catches your eye, a virtual salesperson—whether by holographic video or avatar—pops into your field of view next to the fridge you’ve been examining and begins introducing you to its various functions and features. You quickly decide you’d rather disable the avatar and get textual input instead, and preferences are reset to list appliance properties visually.
After a virtual tour of several other fridges, you decide on the one you want and seamlessly execute a smart contract, carried out by your smart wallet and the fridge. The transaction takes place in seconds, and the fridge’s blockchain-recorded ownership record has been updated.
Better yet, you head over to a friend’s home for dinner after moving into the neighborhood. While catching up in the kitchen, your eyes fixate on the cabinets, which quickly populate your AR glasses with a price-point and selection of colors.
But what if you’d rather not get auto-populated product info in the first place? No problem!
Now empowered with self-sovereign identities, users might be able to turn off advertising preferences entirely, turning on smart recommendations only when they want to buy a given product or need new supplies.
And with user-centric data, consumers might even sell such information to advertisers directly. Now, instead of Facebook or Google profiting off your data, you might earn a passive income by giving advertisers permission to personalize and market their services. Buy more, and your personal data marketplace grows in value. Buy less, and a lower-valued advertising profile causes an ebb in advertiser input.
With user-controlled data, advertisers now work on your terms, putting increased pressure on product iteration and personalizing products for each user.
This brings us to the transformative future of retail.
Personalized Retail–Power of the Spatial Web
In a future of smart and hyper-personalized products, I might walk through a virtual game space or a digitally reconstructed Target, browsing specific categories of clothing I’ve predetermined prior to entry.
As I pick out my selection, my AI assistant hones its algorithm reflecting new fashion preferences, and personal shoppers—also visiting the store in VR—help me pair different pieces as I go.
Once my personal shopper has finished constructing various outfits, I then sit back and watch a fashion show of countless Peter avatars with style and color variations of my selection, each customizable.
After I’ve made my selection, I might choose to purchase physical versions of three outfits and virtual versions of two others for my digital avatar. Payments are made automatically as I leave the store, including a smart wallet transaction made with the personal shopper at a per-outfit rate (for only the pieces I buy).
Already, several big players have broken into the VR market. Just this year, Walmart has announced its foray into the VR space, shipping 17,000 Oculus Go VR headsets to Walmart locations across the US.
And just this past January, Walmart filed two VR shopping-related patents. In a new bid to disrupt a rapidly changing retail market, Walmart now describes a system in which users couple their VR headset with haptic gloves for an immersive in-store experience, whether at 3am in your living room or during a lunch break at the office.
But Walmart is not alone. Big e-commerce players from Amazon to Alibaba are leaping onto the scene with new software buildout to ride the impending headset revolution.
Beyond virtual reality, players like IKEA have even begun using mobile-based augmented reality to map digitally replicated furniture in your physical living room, true to dimension. And this is just the beginning….
As AR headset hardware undergoes breakneck advancements in the next two to five years, we might soon be able to project watches onto our wrists, swapping out colors, styles, brand, and price points.
Or let’s say I need a new coffee table in my office. Pulling up multiple models in AR, I can position each option using advanced hand-tracking technology and customize height and width according to my needs. Once the smart payment is triggered, the manufacturer prints my newly-customized piece, droning it to my doorstep. As soon as I need to assemble the pieces, overlaid digital prompts walk me through each step, and any user confusions are communicated to a company database.
Perhaps one of the ripest industries for Spatial Web disruption, retail presents one of the greatest opportunities for profit across virtual apparel, digital malls, AI fashion startups and beyond.
In our next series iteration, I’ll be looking at the tremendous opportunities created by Web 3.0 for the Future of Work and Entertainment.
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