Tag Archives: money

#435520 These Are the Meta-Trends Shaping the ...

Posted on August 20, 2019 by Android

Life is pretty different now than it was 20 years ago, or even 10 years ago. It’s sort of exciting, and sort of scary. And hold onto your hat, because it’s going to keep changing—even faster than it already has been.

The good news is, maybe there won’t be too many big surprises, because the future will be shaped by trends that have already been set in motion. According to Singularity University co-founder and XPRIZE founder Peter Diamandis, a lot of these trends are unstoppable—but they’re also pretty predictable.

At SU’s Global Summit, taking place this week in San Francisco, Diamandis outlined some of the meta-trends he believes are key to how we’ll live our lives and do business in the (not too distant) future.

Increasing Global Abundance
Resources are becoming more abundant all over the world, and fewer people are seeing their lives limited by scarcity. “It’s hard for us to realize this as we see crisis news, but what people have access to is more abundant than ever before,” Diamandis said. Products and services are becoming cheaper and thus available to more people, and having more resources then enables people to create more, thus producing even more resources—and so on.

Need evidence? The proportion of the world’s population living in extreme poverty is currently lower than it’s ever been. The average human life expectancy is longer than it’s ever been. The costs of day-to-day needs like food, energy, transportation, and communications are on a downward trend.

Take energy. In most of the world, though its costs are decreasing, it’s still a fairly precious commodity; we turn off our lights and our air conditioners when we don’t need them (ideally, both to save money and to avoid wastefulness). But the cost of solar energy has plummeted, and the storage capacity of batteries is improving, and solar technology is steadily getting more efficient. Bids for new solar power plants in the past few years have broken each other’s records for lowest cost per kilowatt hour.

“We’re not far from a penny per kilowatt hour for energy from the sun,” Diamandis said. “And if you’ve got energy, you’ve got water.” Desalination, for one, will be much more widely feasible once the cost of the energy needed for it drops.

Knowledge is perhaps the most crucial resource that’s going from scarce to abundant. All the world’s knowledge is now at the fingertips of anyone who has a mobile phone and an internet connection—and the number of people connected is only going to grow. “Everyone is being connected at gigabit connection speeds, and this will be transformative,” Diamandis said. “We’re heading towards a world where anyone can know anything at any time.”

Increasing Capital Abundance
It’s not just goods, services, and knowledge that are becoming more plentiful. Money is, too—particularly money for business. “There’s more and more capital available to invest in companies,” Diamandis said. As a result, more people are getting the chance to bring their world-changing ideas to life.

Venture capital investments reached a new record of $130 billion in 2018, up from $84 billion in 2017—and that’s just in the US. Globally, VC funding grew 21 percent from 2017 to a total of $207 billion in 2018.

Through crowdfunding, any person in any part of the world can present their idea and ask for funding. That funding can come in the form of a loan, an equity investment, a reward, or an advanced purchase of the proposed product or service. “Crowdfunding means it doesn’t matter where you live, if you have a great idea you can get it funded by people from all over the world,” Diamandis said.

All this is making a difference; the number of unicorns—privately-held startups valued at over $1 billion—currently stands at an astounding 360.

One of the reasons why the world is getting better, Diamandis believes, is because entrepreneurs are trying more crazy ideas—not ideas that are reasonable or predictable or linear, but ideas that seem absurd at first, then eventually end up changing the world.

Everyone and Everything, Connected
As already noted, knowledge is becoming abundant thanks to the proliferation of mobile phones and wireless internet; everyone’s getting connected. In the next decade or sooner, connectivity will reach every person in the world. 5G is being tested and offered for the first time this year, and companies like Google, SpaceX, OneWeb, and Amazon are racing to develop global satellite internet constellations, whether by launching 12,000 satellites, as SpaceX’s Starlink is doing, or by floating giant balloons into the stratosphere like Google’s Project Loon.

“We’re about to reach a period of time in the next four to six years where we’re going from half the world’s people being connected to the whole world being connected,” Diamandis said. “What happens when 4.2 billion new minds come online? They’re all going to want to create, discover, consume, and invent.”

And it doesn’t stop at connecting people. Things are becoming more connected too. “By 2020 there will be over 20 billion connected devices and more than one trillion sensors,” Diamandis said. By 2030, those projections go up to 500 billion and 100 trillion. Think about it: there’s home devices like refrigerators, TVs, dishwashers, digital assistants, and even toasters. There’s city infrastructure, from stoplights to cameras to public transportation like buses or bike sharing. It’s all getting smart and connected.

Soon we’ll be adding autonomous cars to the mix, and an unimaginable glut of data to go with them. Every turn, every stop, every acceleration will be a data point. Some cars already collect over 25 gigabytes of data per hour, Diamandis said, and car data is projected to generate $750 billion of revenue by 2030.

“You’re going to start asking questions that were never askable before, because the data is now there to be mined,” he said.

Increasing Human Intelligence
Indeed, we’ll have data on everything we could possibly want data on. We’ll also soon have what Diamandis calls just-in-time education, where 5G combined with artificial intelligence and augmented reality will allow you to learn something in the moment you need it. “It’s not going and studying, it’s where your AR glasses show you how to do an emergency surgery, or fix something, or program something,” he said.

We’re also at the beginning of massive investments in research working towards connecting our brains to the cloud. “Right now, everything we think, feel, hear, or learn is confined in our synaptic connections,” Diamandis said. What will it look like when that’s no longer the case? Companies like Kernel, Neuralink, Open Water, Facebook, Google, and IBM are all investing billions of dollars into brain-machine interface research.

Increasing Human Longevity
One of the most important problems we’ll use our newfound intelligence to solve is that of our own health and mortality, making 100 years old the new 60—then eventually, 120 or 150.

“Our bodies were never evolved to live past age 30,” Diamandis said. “You’d go into puberty at age 13 and have a baby, and by the time you were 26 your baby was having a baby.”

Seeing how drastically our lifespans have changed over time makes you wonder what aging even is; is it natural, or is it a disease? Many companies are treating it as one, and using technologies like senolytics, CRISPR, and stem cell therapy to try to cure it. Scaffolds of human organs can now be 3D printed then populated with the recipient’s own stem cells so that their bodies won’t reject the transplant. Companies are testing small-molecule pharmaceuticals that can stop various forms of cancer.

“We don’t truly know what’s going on inside our bodies—but we can,” Diamandis said. “We’re going to be able to track our bodies and find disease at stage zero.”

Chins Up
The world is far from perfect—that’s not hard to see. What’s less obvious but just as true is that we’re living in an amazing time. More people are coming together, and they have more access to information, and that information moves faster, than ever before.

“I don’t think any of us understand how fast the world is changing,” Diamandis said. “Most people are fearful about the future. But we should be excited about the tools we now have to solve the world’s problems.”

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Posted in Human Robots

#435436 Undeclared Wars in Cyberspace Are ...

Posted on August 1, 2019 by Android

The US is at war. That’s probably not exactly news, as the country has been engaged in one type of conflict or another for most of its history. The last time we officially declared war was after Japan bombed Pearl Harbor in December 1941.

Our biggest undeclared war today is not being fought by drones in the mountains of Afghanistan or even through the less-lethal barrage of threats over the nuclear programs in North Korea and Iran. In this particular war, it is the US that is under attack and on the defensive.

This is cyberwarfare.

The definition of what constitutes a cyber attack is a broad one, according to Greg White, executive director of the Center for Infrastructure Assurance and Security (CIAS) at The University of Texas at San Antonio (UTSA).

At the level of nation-state attacks, cyberwarfare could involve “attacking systems during peacetime—such as our power grid or election systems—or it could be during war time in which case the attacks may be designed to cause destruction, damage, deception, or death,” he told Singularity Hub.

For the US, the Pearl Harbor of cyberwarfare occurred during 2016 with the Russian interference in the presidential election. However, according to White, an Air Force veteran who has been involved in computer and network security since 1986, the history of cyber war can be traced back much further, to at least the first Gulf War of the early 1990s.

“We started experimenting with cyber attacks during the first Gulf War, so this has been going on a long time,” he said. “Espionage was the prime reason before that. After the war, the possibility of expanding the types of targets utilized expanded somewhat. What is really interesting is the use of social media and things like websites for [psychological operation] purposes during a conflict.”

The 2008 conflict between Russia and the Republic of Georgia is often cited as a cyberwarfare case study due to the large scale and overt nature of the cyber attacks. Russian hackers managed to bring down more than 50 news, government, and financial websites through denial-of-service attacks. In addition, about 35 percent of Georgia’s internet networks suffered decreased functionality during the attacks, coinciding with the Russian invasion of South Ossetia.

The cyberwar also offers lessons for today on Russia’s approach to cyberspace as a tool for “holistic psychological manipulation and information warfare,” according to a 2018 report called Understanding Cyberwarfare from the Modern War Institute at West Point.

US Fights Back
News in recent years has highlighted how Russian hackers have attacked various US government entities and critical infrastructure such as energy and manufacturing. In particular, a shadowy group known as Unit 26165 within the country’s military intelligence directorate is believed to be behind the 2016 US election interference campaign.

However, the US hasn’t been standing idly by. Since at least 2012, the US has put reconnaissance probes into the control systems of the Russian electric grid, The New York Times reported. More recently, we learned that the US military has gone on the offensive, putting “crippling malware” inside the Russian power grid as the U.S. Cyber Command flexes its online muscles thanks to new authority granted to it last year.

“Access to the power grid that is obtained now could be used to shut something important down in the future when we are in a war,” White noted. “Espionage is part of the whole program. It is important to remember that cyber has just provided a new domain in which to conduct the types of activities we have been doing in the real world for years.”

The US is also beginning to pour more money into cybersecurity. The 2020 fiscal budget calls for spending $17.4 billion throughout the government on cyber-related activities, with the Department of Defense (DoD) alone earmarked for $9.6 billion.

Despite the growing emphasis on cybersecurity in the US and around the world, the demand for skilled security professionals is well outpacing the supply, with a projected shortfall of nearly three million open or unfilled positions according to the non-profit IT security organization (ISC)².

UTSA is rare among US educational institutions in that security courses and research are being conducted across three different colleges, according to White. About 10 percent of the school’s 30,000-plus students are enrolled in a cyber-related program, he added, and UTSA is one of only 21 schools that has received the Cyber Operations Center of Excellence designation from the National Security Agency.

“This track in the computer science program is specifically designed to prepare students for the type of jobs they might be involved in if they went to work for the DoD,” White said.

However, White is extremely doubtful there will ever be enough cyber security professionals to meet demand. “I’ve been preaching that we’ve got to worry about cybersecurity in the workforce, not just the cybersecurity workforce, not just cybersecurity professionals. Everybody has a responsibility for cybersecurity.”

Artificial Intelligence in Cybersecurity
Indeed, humans are often seen as the weak link in cybersecurity. That point was driven home at a cybersecurity roundtable discussion during this year’s Brainstorm Tech conference in Aspen, Colorado.

Participant Dorian Daley, general counsel at Oracle, said insider threats are at the top of the list when it comes to cybersecurity. “Sadly, I think some of the biggest challenges are people, and I mean that in a number of ways. A lot of the breaches really come from insiders. So the more that you can automate things and you can eliminate human malicious conduct, the better.”

White noted that automation is already the norm in cybersecurity. “Humans can’t react as fast as systems can launch attacks, so we need to rely on automated defenses as well,” he said. “This doesn’t mean that humans are not in the loop, but much of what is done these days is ‘scripted’.”

The use of artificial intelligence, machine learning, and other advanced automation techniques have been part of the cybersecurity conversation for quite some time, according to White, such as pattern analysis to look for specific behaviors that might indicate an attack is underway.

“What we are seeing quite a bit of today falls under the heading of big data and data analytics,” he explained.

But there are signs that AI is going off-script when it comes to cyber attacks. In the hands of threat groups, AI applications could lead to an increase in the number of cyberattacks, wrote Michelle Cantos, a strategic intelligence analyst at cybersecurity firm FireEye.

“Current AI technology used by businesses to analyze consumer behavior and find new customer bases can be appropriated to help attackers find better targets,” she said. “Adversaries can use AI to analyze datasets and generate recommendations for high-value targets they think the adversary should hit.”

In fact, security researchers have already demonstrated how a machine learning system could be used for malicious purposes. The Social Network Automated Phishing with Reconnaissance system, or SNAP_R, generated more than four times as many spear-phishing tweets on Twitter than a human—and was just as successful at targeting victims in order to steal sensitive information.

Cyber war is upon us. And like the current war on terrorism, there are many battlefields from which the enemy can attack and then disappear. While total victory is highly unlikely in the traditional sense, innovations through AI and other technologies can help keep the lights on against the next cyber attack.

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Posted in Human Robots

#435313 This Week’s Awesome Stories From ...

Posted on July 27, 2019 by Android

ARTIFICIAL INTELLIGENCE
Microsoft Invests $1 Billion in OpenAI to Pursue Holy Grail of Artificial Intelligence
James Vincent | The Verge
“i‘The creation of AGI will be the most important technological development in human history, with the potential to shape the trajectory of humanity,’ said [OpenAI cofounder] Sam Altman. ‘Our mission is to ensure that AGI technology benefits all of humanity, and we’re working with Microsoft to build the supercomputing foundation on which we’ll build AGI.’i”

ROBOTICS
UPS Wants to Go Full-Scale With Its Drone Deliveries
Eric Adams | Wired
“If UPS gets its way, it’ll be known for vehicles other than its famous brown vans. The delivery giant is working to become the first commercial entity authorized by the Federal Aviation Administration to use autonomous delivery drones without any of the current restrictions that have governed the aerial testing it has done to date.”

SYNTHETIC BIOLOGY
Scientists Can Finally Build Feedback Circuits in Cells
Megan Molteni | Wired
“Network a few LOCKR-bound molecules together, and you’ve got a circuit that can control a cell’s functions the same way a PID computer program automatically adjusts the pitch of a plane. With the right key, you can make cells glow or blow themselves apart. You can send things to the cell’s trash heap or zoom them to another cellular zip code.”

ENERGY
Carbon Nanotubes Could Increase Solar Efficiency to 80 Percent
David Grossman | Popular Mechanics
“Obviously, that sort of efficiency rating is unheard of in the world of solar panels. But even though a proof of concept is a long way from being used in the real world, any further developments in the nanotubes could bolster solar panels in ways we haven’t seen yet.”

FUTURE
What Technology Is Most Likely to Become Obsolete During Your Lifetime?
Daniel Kolitz | Gizmodo
“Old technology seldom just goes away. Whiteboards and LED screens join chalk blackboards, but don’t eliminate them. Landline phones get scarce, but not phones. …And the technologies that seem to be the most outclassed may come back as a the cult objects of aficionados—the vinyl record, for example. All this is to say that no one can tell us what will be obsolete in fifty years, but probably a lot less will be obsolete than we think.”

NEUROSCIENCE
The Human Brain Project Hasn’t Lived Up to Its Promise
Ed Yong | The Atlantic
“The HBP, then, is in a very odd position, criticized for being simultaneously too grandiose and too narrow. None of the skeptics I spoke with was dismissing the idea of simulating parts of the brain, but all of them felt that such efforts should be driven by actual research questions. …Countless such projects could have been funded with the money channeled into the HBP, which explains much of the furor around the project.”

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Posted in Human Robots

#435145 How Big Companies Can Simultaneously Run ...

Posted on May 28, 2019 by Android

We live in the age of entrepreneurs. New startups seem to appear out of nowhere and challenge not only established companies, but entire industries. Where startup unicorns were once mythical creatures, they now seem abundant, not only increasing in numbers but also in the speed with which they can gain the minimum one-billion-dollar valuations to achieve this status.

But no matter how well things go for innovative startups, how many new success stories we hear, and how much space they take up in the media, the story that they are the best or only source of innovation isn’t entirely accurate.

Established organizations, or legacy organizations, can be incredibly innovative too. And while innovation is much more difficult in established organizations than in startups because they have much more complex systems—nobody is more likely to succeed in their innovation efforts than established organizations.

Unlike startups, established organizations have all the resources. They have money, customers, data, suppliers, partners, and infrastructure, which put them in a far better position to transform new ideas into concrete, value-creating, successful offerings than startups.

However, for established organizations, becoming an innovation champion in these times of rapid change requires new rules of engagement.

Many organizations commit the mistake of engaging in innovation as if it were a homogeneous thing that should be approached in the same way every time, regardless of its purpose. In my book, Transforming Legacy Organizations, I argue that innovation in established organizations must actually be divided into three different tracks: optimizing, augmenting, and mutating innovation.

All three are important, and to complicate matters further, organizations must execute all three types of innovation at the same time.

Optimizing Innovation
The first track is optimizing innovation. This type of innovation is the majority of what legacy organizations already do today. It is, metaphorically speaking, the extra blade on the razor. A razor manufacturer might launch a new razor that has not just three, but four blades, to ensure an even better, closer, and more comfortable shave. Then one or two years later, they say they are now launching a razor that has not only four, but five blades for an even better, closer, and more comfortable shave. That is optimizing innovation.

Adding extra blades on the razor is where the established player reigns.

No startup with so much as a modicum of sense would even try to beat the established company in this type of innovation. And this continuous optimization, both on the operational and customer facing sides, is important. In the short term. It pays the rent. But it’s far from enough. There are limits to how many blades a razor needs, and optimizing innovation only improves upon the past.

Augmenting Innovation
Established players must also go beyond optimization and prepare for the future through augmenting innovation.

The digital transformation projects that many organizations are initiating can be characterized as augmenting innovation. In the first instance, it is about upgrading core offerings and processes from analog to digital. Or, if you’re born digital, you’ve probably had to augment the core to become mobile-first. Perhaps you have even entered the next augmentation phase, which involves implementing artificial intelligence. Becoming AI-first, like the Amazons, Microsofts, Baidus, and Googles of the world, requires great technological advancements. And it’s difficult. But technology may, in fact, be a minor part of the task.

The biggest challenge for augmenting innovation is probably culture.

Only legacy organizations that manage to transform their cultures from status quo cultures—cultures with a preference for things as they are—into cultures full of incremental innovators can thrive in constant change.

To create a strong innovation culture, an organization needs to thoroughly understand its immune systems. These are the mechanisms that protect the organization and operate around the clock to keep it healthy and stable, just as the body’s immune system operates to keep the body healthy and stable. But in a rapidly changing world, many of these defense mechanisms are no longer appropriate and risk weakening organizations’ innovation power.

When talking about organizational immune systems, there is a clear tendency to simply point to the individual immune system, people’s unwillingness to change.

But this is too simplistic.

Of course, there is human resistance to change, but the organizational immune system, consisting of a company’s key performance indicators (KPIs), rewards systems, legacy IT infrastructure and processes, and investor and shareholder demands, is far more important. So is the organization’s societal immune system, such as legislative barriers, legacy customers and providers, and economic climate.

Luckily, there are many culture hacks that organizations can apply to strengthen their innovation cultures by upgrading their physical and digital workspaces, transforming their top-down work processes into decentralized, agile ones, and empowering their employees.

Mutating Innovation
Upgrading your core and preparing for the future by augmenting innovation is crucial if you want success in the medium term. But to win in the long run and be as or more successful 20 to 30 years from now, you need to invent the future, and challenge your core, through mutating innovation.

This requires involving radical innovators who have a bold focus on experimenting with that which is not currently understood and for which a business case cannot be prepared.

Here you must also physically move away from the core organization when you initiate and run such initiatives. This is sometimes called “innovation on the edges” because the initiatives will not have a chance at succeeding within the core. It will be too noisy as they challenge what currently exists—precisely what the majority of the organization’s employees are working to optimize or augment.

Forward-looking organizations experiment to mutate their core through “X divisions,” sometimes called skunk works or innovation labs.

Lowe’s Innovation Labs, for instance, worked with startups to build in-store robot assistants and zero-gravity 3D printers to explore the future. Mutating innovation might include pursuing partnerships across all imaginable domains or establishing brand new companies, rather than traditional business units, as we see automakers such as Toyota now doing to build software for autonomous vehicles. Companies might also engage in radical open innovation by sponsoring others’ ingenuity. Japan’s top airline ANA is exploring a future of travel that does not involve flying people from point A to point B via the ANA Avatar XPRIZE competition.

Increasing technological opportunities challenge the core of any organization but also create unprecedented potential. No matter what product, service, or experience you create, you can’t rest on your laurels. You have to bring yourself to a position where you have a clear strategy for optimizing, augmenting, and mutating your core and thus transforming your organization.

It’s not an easy job. But, hey, if it were easy, everyone would be doing it. Those who make it, on the other hand, will be the innovation champions of the future.

Image Credit: rock-the-stock / Shutterstock.com

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Posted in Human Robots

#435110 5 Coming Breakthroughs in Energy and ...

Posted on May 18, 2019 by Android

The energy and transportation industries are being aggressively disrupted by converging exponential technologies.

In just five days, the sun provides Earth with an energy supply exceeding all proven reserves of oil, coal, and natural gas. Capturing just 1 part in 8,000 of this available solar energy would allow us to meet 100 percent of our energy needs.

As we leverage renewable energy supplied by the sun, wind, geothermal sources, and eventually fusion, we are rapidly heading towards a future where 100 percent of our energy needs will be met by clean tech in just 30 years.

During the past 40 years, solar prices have dropped 250-fold. And as these costs plummet, solar panel capacity continues to grow exponentially.

On the heels of energy abundance, we are additionally witnessing a new transportation revolution, which sets the stage for a future of seamlessly efficient travel at lower economic and environmental costs.

Top 5 Transportation Breakthroughs (2019-2024)
Entrepreneur and inventor Ramez Naam is my go-to expert on all things energy and environment. Currently serving as the Energy Co-Chair at Singularity University, Naam is the award-winning author of five books, including the Nexus series of science fiction novels. Having spent 13 years at Microsoft, his software has touched the lives of over a billion people. Naam holds over 20 patents, including several shared with co-inventor Bill Gates.

In the next five years, he forecasts five respective transportation and energy trends, each poised to disrupt major players and birth entirely new business models.

Let’s dive in.

Autonomous cars drive 1 billion miles on US roads. Then 10 billion

Alphabet’s Waymo alone has already reached 10 million miles driven in the US. The 600 Waymo vehicles on public roads drive a total of 25,000 miles each day, and computer simulations provide an additional 25,000 virtual cars driving constantly. Since its launch in December, the Waymo One service has transported over 1,000 pre-vetted riders in the Phoenix area.

With more training miles, the accuracy of these cars continues to improve. Since last year, GM Cruise has improved its disengagement rate by 321 percent since last year, trailing close behind with only one human intervention per 5,025 miles self-driven.

Autonomous taxis as a service in top 20 US metro areas

Along with its first quarterly earnings released last week, Lyft recently announced that it would expand its Waymo partnership with the upcoming deployment of 10 autonomous vehicles in the Phoenix area. While individuals previously had to partake in Waymo’s “early rider program” prior to trying Waymo One, the Lyft partnership will allow anyone to ride in a self-driving vehicle without a prior NDA.

Strategic partnerships will grow increasingly essential between automakers, self-driving tech companies, and rideshare services. Ford is currently working with Volkswagen, and Nvidia now collaborates with Daimler (Mercedes) and Toyota. Just last week, GM Cruise raised another $1.15 billion at a $19 billion valuation as the company aims to launch a ride-hailing service this year.

“They’re going to come to the Bay Area, Los Angeles, Houston, other cities with relatively good weather,” notes Naam. “In every major city within five years in the US and in some other parts of the world, you’re going to see the ability to hail an autonomous vehicle as a ride.”

Cambrian explosion of vehicle formats

Naam explains, “If you look today at the average ridership of a taxi, a Lyft, or an Uber, it’s about 1.1 passengers plus the driver. So, why do you need a large four-seater vehicle for that?”

Small electric, autonomous pods that seat as few as two people will begin to emerge, satisfying the majority of ride-hailing demands we see today. At the same time, larger communal vehicles will appear, such as Uber Express, that will undercut even the cheapest of transportation methods—buses, trams, and the like. Finally, last-mile scooter transit (or simply short-distance walks) might connect you to communal pick-up locations.

By 2024, an unimaginably diverse range of vehicles will arise to meet every possible need, regardless of distance or destination.

Drone delivery for lightweight packages in at least one US city

Wing, the Alphabet drone delivery startup, recently became the first company to gain approval from the Federal Aviation Administration (FAA) to make deliveries in the US. Having secured approval to deliver to 100 homes in Canberra, Australia, Wing additionally plans to begin delivering goods from local businesses in the suburbs of Virginia.

The current state of drone delivery is best suited for lightweight, urgent-demand payloads like pharmaceuticals, thumb drives, or connectors. And as Amazon continues to decrease its Prime delivery times—now as speedy as a one-day turnaround in many cities—the use of drones will become essential.

Robotic factories drive onshoring of US factories… but without new jobs

The supply chain will continue to shorten and become more agile with the re-onshoring of manufacturing jobs in the US and other countries. Naam reasons that new management and software jobs will drive this shift, as these roles develop the necessary robotics to manufacture goods. Equally as important, these robotic factories will provide a more humane setting than many of the current manufacturing practices overseas.

Top 5 Energy Breakthroughs (2019-2024)

First “1 cent per kWh” deals for solar and wind signed

Ten years ago, the lowest price of solar and wind power fell between 10 to 12 cents per kilowatt hour (kWh), over twice the price of wholesale power from coal or natural gas.

Today, the gap between solar/wind power and fossil fuel-generated electricity is nearly negligible in many parts of the world. In G20 countries, fossil fuel electricity costs between 5 to 17 cents per kWh, while the average cost per kWh of solar power in the US stands at under 10 cents.

Spanish firm Solarpack Corp Technological recently won a bid in Chile for a 120 MW solar power plant supplying energy at 2.91 cents per kWh. This deal will result in an estimated 25 percent drop in energy costs for Chilean businesses by 2021.

Naam indicates, “We will see the first unsubsidized 1.0 cent solar deals in places like Chile, Mexico, the Southwest US, the Middle East, and North Africa, and we’ll see similar prices for wind in places like Mexico, Brazil, and the US Great Plains.”

Solar and wind will reach >15 percent of US electricity, and begin to drive all growth

Just over eight percent of energy in the US comes from solar and wind sources. In total, 17 percent of American energy is derived from renewable sources, while a whopping 63 percent is sourced from fossil fuels, and 17 percent from nuclear.

Last year in the U.K., twice as much energy was generated from wind than from coal. For over a week in May, the U.K. went completely coal-free, using wind and solar to supply 35 percent and 21 percent of power, respectively. While fossil fuels remain the primary electricity source, this week-long experiment highlights the disruptive potential of solar and wind power that major countries like the U.K. are beginning to emphasize.

“Solar and wind are still a relatively small part of the worldwide power mix, only about six percent. Within five years, it’s going to be 15 percent in the US and more than close to that worldwide,” Naam predicts. “We are nearing the point where we are not building any new fossil fuel power plants.”

It will be cheaper to build new solar/wind/batteries than to run on existing coal

Last October, Northern Indiana utility company NIPSCO announced its transition from a 65 percent coal-powered state to projected coal-free status by 2028. Importantly, this decision was made purely on the basis of financials, with an estimated $4 billion in cost savings for customers. The company has already begun several initiatives in solar, wind, and batteries.

NextEra, the largest power generator in the US, has taken on a similar goal, making a deal last year to purchase roughly seven million solar panels from JinkoSolar over four years. Leading power generators across the globe have vocalized a similar economic case for renewable energy.

ICE car sales have now peaked. All car sales growth will be electric

While electric vehicles (EV) have historically been more expensive for consumers than internal combustion engine-powered (ICE) cars, EVs are cheaper to operate and maintain. The yearly cost of operating an EV in the US is about $485, less than half the $1,117 cost of operating a gas-powered vehicle.

And as battery prices continue to shrink, the upfront costs of EVs will decline until a long-term payoff calculation is no longer required to determine which type of car is the better investment. EVs will become the obvious choice.

Many experts including Naam believe that ICE-powered vehicles peaked worldwide in 2018 and will begin to decline over the next five years, as has already been demonstrated in the past five months. At the same time, EVs are expected to quadruple their market share to 1.6 percent this year.

New storage technologies will displace Li-ion batteries for tomorrow’s most demanding applications

Lithium ion batteries have dominated the battery market for decades, but Naam anticipates new storage technologies will take hold for different contexts. Flow batteries, which can collect and store solar and wind power at large scales, will supply city grids. Already, California’s Independent System Operator, the nonprofit that maintains the majority of the state’s power grid, recently installed a flow battery system in San Diego.

Solid-state batteries, which consist of entirely solid electrolytes, will supply mobile devices in cars. A growing body of competitors, including Toyota, BMW, Honda, Hyundai, and Nissan, are already working on developing solid-state battery technology. These types of batteries offer up to six times faster charging periods, three times the energy density, and eight years of added lifespan, compared to lithium ion batteries.

Final Thoughts
Major advancements in transportation and energy technologies will continue to converge over the next five years. A case in point, Tesla’s recent announcement of its “robotaxi” fleet exemplifies the growing trend towards joint priority of sustainability and autonomy.

On the connectivity front, 5G and next-generation mobile networks will continue to enable the growth of autonomous fleets, many of which will soon run on renewable energy sources. This growth demands important partnerships between energy storage manufacturers, automakers, self-driving tech companies, and ridesharing services.

In the eco-realm, increasingly obvious economic calculi will catalyze consumer adoption of autonomous electric vehicles. In just five years, Naam predicts that self-driving rideshare services will be cheaper than owning a private vehicle for urban residents. And by the same token, plummeting renewable energy costs will make these fuels far more attractive than fossil fuel-derived electricity.

As universally optimized AI systems cut down on traffic, aggregate time spent in vehicles will decimate, while hours in your (or not your) car will be applied to any number of activities as autonomous systems steer the way. All the while, sharing an electric vehicle will cut down not only on your carbon footprint but on the exorbitant costs swallowed by your previous SUV. How will you spend this extra time and money? What new natural resources will fuel your everyday life?

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