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#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
#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
#433911 Thanksgiving Food for Thought: The Tech ...
With the Thanksgiving holiday upon us, it’s a great time to reflect on the future of food. Over the last few years, we have seen a dramatic rise in exponential technologies transforming the food industry from seed to plate. Food is important in many ways—too little or too much of it can kill us, and it is often at the heart of family, culture, our daily routines, and our biggest celebrations. The agriculture and food industries are also two of the world’s biggest employers. Let’s take a look to see what is in store for the future.
Robotic Farms
Over the last few years, we have seen a number of new companies emerge in the robotic farming industry. This includes new types of farming equipment used in arable fields, as well as indoor robotic vertical farms. In November 2017, Hands Free Hectare became the first in the world to remotely grow an arable crop. They used autonomous tractors to sow and spray crops, small rovers to take soil samples, drones to monitor crop growth, and an unmanned combine harvester to collect the crops. Since then, they’ve also grown and harvested a field of winter wheat, and have been adding additional technologies and capabilities to their arsenal of robotic farming equipment.
Indoor vertical farming is also rapidly expanding. As Engadget reported in October 2018, a number of startups are now growing crops like leafy greens, tomatoes, flowers, and herbs. These farms can grow food in urban areas, reducing transport, water, and fertilizer costs, and often don’t need pesticides since they are indoors. IronOx, which is using robots to grow plants with navigation technology used by self-driving cars, can grow 30 times more food per acre of land using 90 percent less water than traditional farmers. Vertical farming company Plenty was recently funded by Softbank’s Vision Fund, Jeff Bezos, and others to build 300 vertical farms in China.
These startups are not only succeeding in wealthy countries. Hello Tractor, an “uberized” tractor, has worked with 250,000 smallholder farms in Africa, creating both food security and tech-infused agriculture jobs. The World Food Progam’s Innovation Accelerator (an impact partner of Singularity University) works with hundreds of startups aimed at creating zero hunger. One project is focused on supporting refugees in developing “food computers” in refugee camps—computerized devices that grow food while also adjusting to the conditions around them. As exponential trends drive down the costs of robotics, sensors, software, and energy, we should see robotic farming scaling around the world and becoming the main way farming takes place.
Cultured Meat
Exponential technologies are not only revolutionizing how we grow vegetables and grains, but also how we generate protein and meat. The new cultured meat industry is rapidly expanding, led by startups such as Memphis Meats, Mosa Meats, JUST Meat, Inc. and Finless Foods, and backed by heavyweight investors including DFJ, Bill Gates, Richard Branson, Cargill, and Tyson Foods.
Cultured meat is grown in a bioreactor using cells from an animal, a scaffold, and a culture. The process is humane and, potentially, scientists can make the meat healthier by adding vitamins, removing fat, or customizing it to an individual’s diet and health concerns. Another benefit is that cultured meats, if grown at scale, would dramatically reduce environmental destruction, pollution, and climate change caused by the livestock and fishing industries. Similar to vertical farms, cultured meat is produced using technology and can be grown anywhere, on-demand and in a decentralized way.
Similar to robotic farming equipment, bioreactors will also follow exponential trends, rapidly falling in cost. In fact, the first cultured meat hamburger (created by Singularity University faculty Member Mark Post of Mosa Meats in 2013) cost $350,000 dollars. In 2018, Fast Company reported the cost was now about $11 per burger, and the Israeli startup Future Meat Technologies predicted they will produce beef at about $2 per pound in 2020, which will be competitive with existing prices. For those who have turkey on their mind, one can read about New Harvest’s work (one of the leading think tanks and research centers for the cultured meat and cellular agriculture industry) in funding efforts to generate a nugget of cultured turkey meat.
One outstanding question is whether cultured meat is safe to eat and how it will interact with the overall food supply chain. In the US, regulators like the Food and Drug Administration (FDA) and the US Department of Agriculture (USDA) are working out their roles in this process, with the FDA overseeing the cellular process and the FDA overseeing production and labeling.
Food Processing
Tech companies are also making great headway in streamlining food processing. Norwegian company Tomra Foods was an early leader in using imaging recognition, sensors, artificial intelligence, and analytics to more efficiently sort food based on shape, composition of fat, protein, and moisture, and other food safety and quality indicators. Their technologies have improved food yield by 5-10 percent, which is significant given they own 25 percent of their market.
These advances are also not limited to large food companies. In 2016 Google reported how a small family farm in Japan built a world-class cucumber sorting device using their open-source machine learning tool TensorFlow. SU startup Impact Vision uses hyper-spectral imaging to analyze food quality, which increases revenues and reduces food waste and product recalls from contamination.
These examples point to a question many have on their mind: will we live in a future where a few large companies use advanced technologies to grow the majority of food on the planet, or will the falling costs of these technologies allow family farms, startups, and smaller players to take part in creating a decentralized system? Currently, the future could flow either way, but it is important for smaller companies to take advantage of the most cutting-edge technology in order to stay competitive.
Food Purchasing and Delivery
In the last year, we have also seen a number of new developments in technology improving access to food. Amazon Go is opening grocery stores in Seattle, San Francisco, and Chicago where customers use an app that allows them to pick up their products and pay without going through cashier lines. Sam’s Club is not far behind, with an app that also allows a customer to purchase goods in-store.
The market for food delivery is also growing. In 2017, Morgan Stanley estimated that the online food delivery market from restaurants could grow to $32 billion by 2021, from $12 billion in 2017. Companies like Zume are pioneering robot-powered pizza making and delivery. In addition to using robotics to create affordable high-end gourmet pizzas in their shop, they also have a pizza delivery truck that can assemble and cook pizzas while driving. Their system combines predictive analytics using past customer data to prepare pizzas for certain neighborhoods before the orders even come in. In early November 2018, the Wall Street Journal estimated that Zume is valued at up to $2.25 billion.
Looking Ahead
While each of these developments is promising on its own, it’s also important to note that since all these technologies are in some way digitized and connected to the internet, the various food tech players can collaborate. In theory, self-driving delivery restaurants could share data on what they are selling to their automated farm equipment, facilitating coordination of future crops. There is a tremendous opportunity to improve efficiency, lower costs, and create an abundance of healthy, sustainable food for all.
On the other hand, these technologies are also deeply disruptive. According to the Food and Agricultural Organization of the United Nations, in 2010 about one billion people, or a third of the world’s workforce, worked in the farming and agricultural industries. We need to ensure these farmers are linked to new job opportunities, as well as facilitate collaboration between existing farming companies and technologists so that the industries can continue to grow and lead rather than be displaced.
Just as importantly, each of us might think about how these changes in the food industry might impact our own ways of life and culture. Thanksgiving celebrates community and sharing of food during a time of scarcity. Technology will help create an abundance of food and less need for communities to depend on one another. What are the ways that you will create community, sharing, and culture in this new world?
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Posted in Human Robots
#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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