Every year at the World Economic Forum in Davis, leading experts from around the world, make plans for our future. I tried to find out from some of the participants this year, what they think could happen by 2030, which most people don’t think about.
Artificial Intelligence Will Greatly Increase Production.
Machine learning has grown significantly over the past decade, but production in the United States has fallen by 50 percent since 2004. Whenever a new multi-purpose technology is introduced, production is initially low. It always takes time for people to get used to it. When the steam engine was introduced, industrialization increased. Similarly, after the invention of electricity, factories were transformed. Computers have changed a lot in society, but 25 years after the founding of Amazon, e-commerce has not become more common. Similarly, machine learning will take time to become commonplace, and all this is impossible without investing in new capabilities and changing the business’s supply chains, customer relationships, and its products and facilities. When businesses succeed in doing so, online productivity will automatically increase.
The Compatibility Of Humans And Robots Will Be Tested In Africa.
The way digital payment methods became very popular in Kenya. I think that’s how human artificial intelligence and interaction with robots will gain momentum here. It’s very easy to introduce new systems here, and there are no specific laws or social norms about artificial intelligence. That’s why it’s so easy to experiment with the harmony of humans and machines. Ten years ago, robotic traffic police were introduced in Kanhasa, and people listened to these robots more than human police, because these robots did not work corruptly. Localized applications of artificial intelligence can be very successful, helping Africans solve their own local problems. By 2050, a quarter of the world’s population will be of African descent, and that is why such projects will be so important.
Consumers Will Have More Protection And Options.
Consumers will be part of data trusts and cooperatives that will protect their rights. Negotiate the use of their data. We will keep them informed of their monitoring and will check the companies that use the data. Take the example of an agricultural data trust. Suppose consumers want their data trusts to only provide details of farmers who have adopted environmentally friendly practices. In this way, consumers will benefit more financially and will have more information about the products they buy. Farmers, on the other hand, will receive data and guarantees on purchase patterns and will be able to provide their customers with different products from others. This type of data sharing will enable innovation in products, which will not only provide more convenience to consumers. It will also increase sustainability.
The US Dollar Will No Longer Be Used For Hoarding.
The US dollar is used as a reserve because of its stability. If companies doing business in two different countries enter into a 90-day payment agreement, US dollars are used to set prices to provide protection against highs and lows in exchange rates, but now programmable smart. There are digital currencies adorned with contracts. Thanks to which, the currency is exchanged at a pre-determined rate and kept in escrow until the amount is due. If these currencies become commonplace, the need for the US dollar will disappear. This will hurt traditional US companies, but will also benefit global innovative and decentralized companies.