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#434772 Traditional Higher Education Is Losing ...

Posted on March 22, 2019 by Android

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

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

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

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

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

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

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

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

The data speaks for itself.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

What do you want to learn about?

Investing? Leadership? Technology? Marketing? Project management?

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

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

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

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

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

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

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

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

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

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

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

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Posted in Human Robots

#434753 Top Takeaways From The Economist ...

Posted on March 14, 2019 by Android

Over the past few years, the word ‘innovation’ has degenerated into something of a buzzword. In fact, according to Vijay Vaitheeswaran, US business editor at The Economist, it’s one of the most abused words in the English language.

The word is over-used precisely because we’re living in a great age of invention. But the pace at which those inventions are changing our lives is fast, new, and scary.

So what strategies do companies need to adopt to make sure technology leads to growth that’s not only profitable, but positive? How can business and government best collaborate? Can policymakers regulate the market without suppressing innovation? Which technologies will impact us most, and how soon?

At The Economist Innovation Summit in Chicago last week, entrepreneurs, thought leaders, policymakers, and academics shared their insights on the current state of exponential technologies, and the steps companies and individuals should be taking to ensure a tech-positive future. Here’s their expert take on the tech and trends shaping the future.

Blockchain
There’s been a lot of hype around blockchain; apparently it can be used for everything from distributing aid to refugees to voting. However, it’s too often conflated with cryptocurrencies like Bitcoin, and we haven’t heard of many use cases. Where does the technology currently stand?

Julie Sweet, chief executive of Accenture North America, emphasized that the technology is still in its infancy. “Everything we see today are pilots,” she said. The most promising of these pilots are taking place across three different areas: supply chain, identity, and financial services.

When you buy something from outside the US, Sweet explained, it goes through about 80 different parties. 70 percent of the relevant data is replicated and is prone to error, with paper-based documents often to blame. Blockchain is providing a secure way to eliminate paper in supply chains, upping accuracy and cutting costs in the process.

One of the most prominent use cases in the US is Walmart—the company has mandated that all suppliers in its leafy greens segment be on a blockchain, and its food safety has improved as a result.

Beth Devin, head of Citi Ventures’ innovation network, added “Blockchain is an infrastructure technology. It can be leveraged in a lot of ways. There’s so much opportunity to create new types of assets and securities that aren’t accessible to people today. But there’s a lot to figure out around governance.”

Open Source Technology
Are the days of proprietary technology numbered? More and more companies and individuals are making their source code publicly available, and its benefits are thus more widespread than ever before. But what are the limitations and challenges of open source tech, and where might it go in the near future?

Bob Lord, senior VP of cognitive applications at IBM, is a believer. “Open-sourcing technology helps innovation occur, and it’s a fundamental basis for creating great technology solutions for the world,” he said. However, the biggest challenge for open source right now is that companies are taking out more than they’re contributing back to the open-source world. Lord pointed out that IBM has a rule about how many lines of code employees take out relative to how many lines they put in.

Another challenge area is open governance; blockchain by its very nature should be transparent and decentralized, with multiple parties making decisions and being held accountable. “We have to embrace open governance at the same time that we’re contributing,” Lord said. He advocated for a hybrid-cloud environment where people can access public and private data and bring it together.

Augmented and Virtual Reality
Augmented and virtual reality aren’t just for fun and games anymore, and they’ll be even less so in the near future. According to Pearly Chen, vice president at HTC, they’ll also go from being two different things to being one and the same. “AR overlays digital information on top of the real world, and VR transports you to a different world,” she said. “In the near future we will not need to delineate between these two activities; AR and VR will come together naturally, and will change everything we do as we know it today.”

For that to happen, we’ll need a more ergonomically friendly device than we have today for interacting with this technology. “Whenever we use tech today, we’re multitasking,” said product designer and futurist Jody Medich. “When you’re using GPS, you’re trying to navigate in the real world and also manage this screen. Constant task-switching is killing our brain’s ability to think.” Augmented and virtual reality, she believes, will allow us to adapt technology to match our brain’s functionality.

This all sounds like a lot of fun for uses like gaming and entertainment, but what about practical applications? “Ultimately what we care about is how this technology will improve lives,” Chen said.

A few ways that could happen? Extended reality will be used to simulate hazardous real-life scenarios, reduce the time and resources needed to bring a product to market, train healthcare professionals (such as surgeons), or provide therapies for patients—not to mention education. “Think about the possibilities for children to learn about history, science, or math in ways they can’t today,” Chen said.

Quantum Computing
If there’s one technology that’s truly baffling, it’s quantum computing. Qubits, entanglement, quantum states—it’s hard to wrap our heads around these concepts, but they hold great promise. Where is the tech right now?

Mandy Birch, head of engineering strategy at Rigetti Computing, thinks quantum development is starting slowly but will accelerate quickly. “We’re at the innovation stage right now, trying to match this capability to useful applications,” she said. “Can we solve problems cheaper, better, and faster than classical computers can do?” She believes quantum’s first breakthrough will happen in two to five years, and that is highest potential is in applications like routing, supply chain, and risk optimization, followed by quantum chemistry (for materials science and medicine) and machine learning.

David Awschalom, director of the Chicago Quantum Exchange and senior scientist at Argonne National Laboratory, believes quantum communication and quantum sensing will become a reality in three to seven years. “We’ll use states of matter to encrypt information in ways that are completely secure,” he said. A quantum voting system, currently being prototyped, is one application.

Who should be driving quantum tech development? The panelists emphasized that no one entity will get very far alone. “Advancing quantum tech will require collaboration not only between business, academia, and government, but between nations,” said Linda Sapochak, division director of materials research at the National Science Foundation. She added that this doesn’t just go for the technology itself—setting up the infrastructure for quantum will be a big challenge as well.

Space
Space has always been the final frontier, and it still is—but it’s not quite as far-removed from our daily lives now as it was when Neil Armstrong walked on the moon in 1969.

The space industry has always been funded by governments and private defense contractors. But in 2009, SpaceX launched its first commercial satellite, and in subsequent years have drastically cut the cost of spaceflight. More importantly, they published their pricing, which brought transparency to a market that hadn’t seen it before.

Entrepreneurs around the world started putting together business plans, and there are now over 400 privately-funded space companies, many with consumer applications.

Chad Anderson, CEO of Space Angels and managing partner of Space Capital, pointed out that the technology floating around in space was, until recently, archaic. “A few NASA engineers saw they had more computing power in their phone than there was in satellites,” he said. “So they thought, ‘why don’t we just fly an iPhone?’” They did—and it worked.

Now companies have networks of satellites monitoring the whole planet, producing a huge amount of data that’s valuable for countless applications like agriculture, shipping, and observation. “A lot of people underestimate space,” Anderson said. “It’s already enabling our modern global marketplace.”

Next up in the space realm, he predicts, are mining and tourism.

Artificial Intelligence and the Future of Work
From the US to Europe to Asia, alarms are sounding about AI taking our jobs. What will be left for humans to do once machines can do everything—and do it better?

These fears may be unfounded, though, and are certainly exaggerated. It’s undeniable that AI and automation are changing the employment landscape (not to mention the way companies do business and the way we live our lives), but if we build these tools the right way, they’ll bring more good than harm, and more productivity than obsolescence.

Accenture’s Julie Sweet emphasized that AI alone is not what’s disrupting business and employment. Rather, it’s what she called the “triple A”: automation, analytics, and artificial intelligence. But even this fear-inducing trifecta of terms doesn’t spell doom, for workers or for companies. Accenture has automated 40,000 jobs—and hasn’t fired anyone in the process. Instead, they’ve trained and up-skilled people. The most important drivers to scale this, Sweet said, are a commitment by companies and government support (such as tax credits).

Imbuing AI with the best of human values will also be critical to its impact on our future. Tracy Frey, Google Cloud AI’s director of strategy, cited the company’s set of seven AI principles. “What’s important is the governance process that’s put in place to support those principles,” she said. “You can’t make macro decisions when you have technology that can be applied in many different ways.”

High Risks, High Stakes
This year, Vaitheeswaran said, 50 percent of the world’s population will have internet access (he added that he’s disappointed that percentage isn’t higher given the proliferation of smartphones). As technology becomes more widely available to people around the world and its influence grows even more, what are the biggest risks we should be monitoring and controlling?

Information integrity—being able to tell what’s real from what’s fake—is a crucial one. “We’re increasingly operating in siloed realities,” said Renee DiResta, director of research at New Knowledge and head of policy at Data for Democracy. “Inadvertent algorithmic amplification on social media elevates certain perspectives—what does that do to us as a society?”

Algorithms have also already been proven to perpetuate the bias of the people who create it—and those people are often wealthy, white, and male. Ensuring that technology doesn’t propagate unfair bias will be crucial to its ability to serve a diverse population, and to keep societies from becoming further polarized and inequitable. The polarization of experience that results from pronounced inequalities within countries, Vaitheeswaran pointed out, can end up undermining democracy.

We’ll also need to walk the line between privacy and utility very carefully. As Dan Wagner, founder of Civis Analytics put it, “We want to ensure privacy as much as possible, but open access to information helps us achieve important social good.” Medicine in the US has been hampered by privacy laws; if, for example, we had more data about biomarkers around cancer, we could provide more accurate predictions and ultimately better healthcare.

But going the Chinese way—a total lack of privacy—is likely not the answer, either. “We have to be very careful about the way we bake rights and freedom into our technology,” said Alex Gladstein, chief strategy officer at Human Rights Foundation.

Technology’s risks are clearly as fraught as its potential is promising. As Gary Shapiro, chief executive of the Consumer Technology Association, put it, “Everything we’ve talked about today is simply a tool, and can be used for good or bad.”

The decisions we’re making now, at every level—from the engineers writing algorithms, to the legislators writing laws, to the teenagers writing clever Instagram captions—will determine where on the spectrum we end up.

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Posted in Human Robots

#434685 How Tech Will Let You Learn Anything, ...

Posted on March 1, 2019 by Android

Today, over 77 percent of Americans own a smartphone with access to the world’s information and near-limitless learning resources.

Yet nearly 36 million adults in the US are constrained by low literacy skills, excluding them from professional opportunities, prospects of upward mobility, and full engagement with their children’s education.

And beyond its direct impact, low literacy rates affect us all. Improving literacy among adults is predicted to save $230 billion in national healthcare costs and could result in US labor productivity increases of up to 2.5 percent.

Across the board, exponential technologies are making demonetized learning tools, digital training platforms, and literacy solutions more accessible than ever before.

With rising automation and major paradigm shifts underway in the job market, these tools not only promise to make today’s workforce more versatile, but could play an invaluable role in breaking the poverty cycles often associated with low literacy.

Just three years ago, the Barbara Bush Foundation for Family Literacy and the Dollar General Literacy Foundation joined forces to tackle this intractable problem, launching a $7 million Adult Literacy XPRIZE.

Challenging teams to develop smartphone apps that significantly increase literacy skills among adult learners in just 12 months, the competition brought five prize teams to the fore, each targeting multiple demographics across the nation.

Now, after four years of research, prototyping, testing, and evaluation, XPRIZE has just this week announced two grand prize winners: Learning Upgrade and People ForWords.

In this blog, I’ll be exploring the nuts and bolts of our two winning teams and how exponential technologies are beginning to address rapidly shifting workforce demands.

We’ll discuss:

Meeting 100 percent adult literacy rates
Retooling today’s workforce for tomorrow’s job market
Granting the gift of lifelong learning

Let’s dive in.

Adult Literacy XPRIZE
Emphasizing the importance of accessible mediums and scalability, the Adult Literacy XPRIZE called for teams to create mobile solutions that lower the barrier to entry, encourage persistence, develop relevant learning content, and can scale nationally.

Outperforming the competition in two key demographic groups in aggregate—native English speakers and English language learners—teams Learning Upgrade and People ForWords together claimed the prize.

To win, both organizations successfully generated the greatest gains between a pre- and post-test, administered one year apart to learners in a 12-month field test across Los Angeles, Dallas, and Philadelphia.

Prize money in hand, Learning Upgrade and People ForWords are now scaling up their solutions, each targeting a key demographic in America’s pursuit of adult literacy.

Based in San Diego, Learning Upgrade has developed an Android and iOS app that helps students learn English and math through video, songs, and gamification. Offering a total of 21 courses from kindergarten through adult education, Learning Upgrade touts a growing platform of over 900 lessons spanning English, reading, math, and even GED prep.

To further personalize each student’s learning, Learning Upgrade measures time-on-task and builds out formative performance assessments, granting teachers a quantified, real-time view of each student’s progress across both lessons and criteria.

Specialized in English reading skills, Dallas-based People ForWords offers a similarly delocalized model with its mobile game “Codex: Lost Words of Atlantis.” Based on an archaeological adventure storyline, the app features an immersive virtual environment.

Set in the Atlantis Library (now with a 3D rendering underway), Codex takes its students through narrative-peppered lessons covering everything from letter-sound practice to vocabulary reinforcement in a hidden object game.

But while both mobile apps have recruited initial piloting populations, the key to success is scale.

Using a similar incentive prize competition structure to drive recruitment, the second phase of the XPRIZE is a $1 million Barbara Bush Foundation Adult Literacy XPRIZE Communities Competition. For 15 months, the competition will challenge organizations, communities, and individuals alike to onboard adult learners onto both prize-winning platforms and fellow finalist team apps, AmritaCREATE and Cell-Ed.

Each awarded $125,000 for participation in the Communities Competition, AmritaCREATE and Cell-Ed bring yet other nuanced advantages to the table.

While AmritaCREATE curates culturally appropriate e-content relevant to given life skills, Cell-Ed takes a learn-on-the-go approach, offering micro-lessons, on-demand essential skills training, and individualized coaching on any mobile device, no internet required.

Although all these cases target slightly different demographics and problem niches, they converge upon common phenomena: mobility, efficiency, life skill relevance, personalized learning, and practicability.

And what better to scale these benefits than AI and immersive virtual environments?

In the case of education’s growing mobility, 5G and the explosion of connectivity speeds will continue to drive a learn-anytime-anywhere education model, whereby adult users learn on the fly, untethered to web access or rigid time strictures.

As I’ve explored in a previous blog on AI-crowd collaboration, we might also see the rise of AI learning consultants responsible for processing data on how you learn.

Quantifying and analyzing your interaction with course modules, where you get stuck, where you thrive, and what tools cause you ease or frustration, each user’s AI trainer might then issue personalized recommendations based on crowd feedback.

Adding a human touch, each app’s hired teaching consultants would thereby be freed to track many more students’ progress at once, vetting AI-generated tips and adjustments, and offering life coaching along the way.

Lastly, virtual learning environments—and, one day, immersive VR—will facilitate both speed and retention, two of the most critical constraints as learners age.

As I often reference, people generally remember only 10 percent of what we see, 20 percent of what we hear, and 30 percent of what we read…. But over a staggering 90 percent of what we do or experience.

By introducing gamification, immersive testing activities, and visually rich sensory environments, adult literacy platforms have a winning chance at scalability, retention, and user persistence.

Exponential Tools: Training and Retooling a Dynamic Workforce
Beyond literacy, however, virtual and augmented reality have already begun disrupting the professional training market.

As projected by ABI Research, the enterprise VR training market is on track to exceed $6.3 billion in value by 2022.

Leading the charge, Walmart has already implemented VR across 200 Academy training centers, running over 45 modules and simulating everything from unusual customer requests to a Black Friday shopping rush.

Then in September of last year, Walmart committed to a 17,000-headset order of the Oculus Go to equip every US Supercenter, neighborhood market, and discount store with VR-based employee training.

In the engineering world, Bell Helicopter is using VR to massively expedite development and testing of its latest aircraft, FCX-001. Partnering with Sector 5 Digital and HTC VIVE, Bell found it could concentrate a typical six-year aircraft design process into the course of six months, turning physical mockups into CAD-designed virtual replicas.

But beyond the design process itself, Bell is now one of a slew of companies pioneering VR pilot tests and simulations with real-world accuracy. Seated in a true-to-life virtual cockpit, pilots have now tested countless iterations of the FCX-001 in virtual flight, drawing directly onto the 3D model and enacting aircraft modifications in real time.

And in an expansion of our virtual senses, several key players are already working on haptic feedback. In the case of VR flight, French company Go Touch VR is now partnering with software developer FlyInside on fingertip-mounted haptic tech for aviation.

Dramatically reducing time and trouble required for VR-testing pilots, they aim to give touch-based confirmation of every switch and dial activated on virtual flights, just as one would experience in a full-sized cockpit mockup. Replicating texture, stiffness, and even the sensation of holding an object, these piloted devices contain a suite of actuators to simulate everything from a light touch to higher-pressured contact, all controlled by gaze and finger movements.

When it comes to other high-risk simulations, virtual and augmented reality have barely scratched the surface.
Firefighters can now combat virtual wildfires with new platforms like FLAIM Trainer or TargetSolutions. And thanks to the expansion of medical AR/VR services like 3D4Medical or Echopixel, surgeons might soon perform operations on annotated organs and magnified incision sites, speeding up reaction times and vastly improving precision.

But perhaps most urgently, virtual reality will offer an immediate solution to today’s constant industry turnover and large-scale re-education demands.

VR educational facilities with exact replicas of anything from large industrial equipment to minute circuitry will soon give anyone a second chance at the 21st-century job market.

Want to become an electric, autonomous vehicle mechanic at age 44? Throw on a demonetized VR module and learn by doing, testing your prototype iterations at almost zero cost and with no risk of harming others.

Want to be a plasma physicist and play around with a virtual nuclear fusion reactor? Now you’ll be able to simulate results and test out different tweaks, logging Smart Educational Record credits in the process.

As tomorrow’s career model shifts from a “one-and-done graduate degree” to continuous lifelong education, professional VR-based re-education will allow for a continuous education loop, reducing the barrier to entry for anyone wanting to try their hand at a new industry.

Learn Anything, Anytime, at Any Age
As VR and artificial intelligence converge with demonetized mobile connectivity, we are finally witnessing an era in which no one will be left behind.

Whether in pursuit of fundamental life skills, professional training, linguistic competence, or specialized retooling, users of all ages, career paths, income brackets, and goals are now encouraged to be students, no longer condemned to stagnancy.

Traditional constraints need no longer prevent non-native speakers from gaining an equal foothold, or specialists from pivoting into new professions, or low-income parents from staking new career paths.

As exponential technologies drive democratized access, bolstering initiatives such as the Barbara Bush Foundation Adult Literacy XPRIZE are blazing the trail to make education a scalable priority for all.

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

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Posted in Human Robots