A short read that may help you to create a future full of innovation.
We are living in an interesting time in human history; working remotely this week due to COVID-19 has made me consider readjusting certain aspects of my daily routine to cope better with an unforeseeable future that is about to unveil. For clarity, the world has already changed and we are living in a new economy that is facing lots of catastrophic realities, that has a consequence of allowing bold innovators to disrupt many traditional businesses and industries without prior notice. Today, the unique idea that we should not take for granted is that whether you are an entrepreneur or the manager of a big corporation things will be changing forever. The following three thoughts may help you to understand and flow with probably one of the most unforeseeable future we will be encountering in history:
1) The Convergence Things (CoT)
I came up with this concept months ago after delivering a conference in the Dominic Republic for some entrepreneurs, At that very moment, I just realized that the world has gone from a very dynamic to a multiverse environment which means the ability to operate in different worlds at the same time; and to win in this new era you have to have a huge differentiating factor over your peers or competitors. To generate the best ideas today you have to learn how to combine from a holistic standpoint, the most interesting problems with random industries and the latest technologies available out there. So you can instantly begin to mix up these variables and start coming up with the best future possible, thanks to the power of forced convergence.
Convergence of Things (CoT) = The convergence among exponential technologies + disruptive ideas + industries.
2) The world is changing for good and is getting totally “Decentralized”.
I am not here to discuss whether the world has turned for better or worse, what I am saying is that we have never had so many tools to make so much magic with, especially in a dimension called “The Internet”. First, understand that today the internet is the easiest way to make it for most entrepreneurs and companies; the internet can be cataloged as the biggest leverage that has existed in the history of mankind, never have we ever had such a power of distribution and the ability to decentralize almost anything. Remember that the internet means “the end of the middle man”, where disruption and innovation can come from an invisible and small player or a big one which knows how to tap into it correctly.
3) Trends that will shape the future of industries
1) EaaS (Everything as a Service): Businesses will completely switch their business model to services. Example: www.hel.fi: The world’s first City as a Service (CaaS).
2) From Experiential To Transformational Businesses: Consumers are much smarter than before, they want to make better decision and as well buy meaningful experiences that allow them to get some progress in their lives. Example: www.wwoof.net: WWOOF comes in as a movement that aims to join organic farmers and growers with volunteers in an effort to increase cultural understanding. It is all about constructing a global community.
3) Greta Thunberg Effect: The world is heading to a clean and sustainable system in all levels. Example: www.ecosia.org: Ecosia is like any other search engine, with one major difference, they use their profits to plant trees.
4) AIoT (Artificial Intelligence of Things): The converge of two exponential technologies to enrich our lives, thanks to its power of operation (Artificial Intelligence + Internet of Things). Example: www.wearablex.com: Wearable X is a fashion tech company that brings together design and technology to create a better quality of life.
5) Digital Twin Technology: In the future, companies will be able to simulate almost anything using virtuality as a key feature to safeguard and predict people’s interests. Example: www.hovding.com: The world’s safest bicycle helmet, the hövding 3 inflates in 0.1 seconds and forms around the head and neck like a protective hood.
6) Behavioral Businesses: Customized data will drive people’s decisions in the best way possible but this time using people’s behavior patterns to understand them completely. Example: www.discovery.co.za: The world’s first behavioral bank.
Retiring is an old idea from the past. Coliving is no longer a trend. Robots are booming and blooming, 4 days-work — 3 days weekend has already arrived. Seasteading the oceans is probably mankind’s Future. Pay-As-You-Earn model is definitely the future of education. Industries will collaborate among themselves as crazy, for example, we will see insurance companies working coordinately with universities, governments and why not food companies, etc.
We have been experiencing some economic models since decades ago; we have passed from the material economy to the experience economy, but in the next decade, we will be transitioning from the experience economy to the transformational or a meaningful economy. Where people will buy just their essentials in order to have a better life and maximizing their impact on the planet at the same time.
Remember, this is a great time to create and rethink everything in your life and in your company, just keep in mind that the internet has flattened the opportunities whether you have a startup or you are the manager of a big corporation, the cards are in your favor.
No doubt, the COVID-19 has made me rethink some stuff, and despite this world crisis, I am sure that this is still the best moment to live ever. Do not get me wrong, I love technology, however, I see it just as a tool. To end, I would say that during these days, suddenly, I am starting to feel the need to go offline for a while and rethink new businesses, new ideas, connect with old friends and have an offline moment with dad and mom as the old times, a life which is aligned with the offline world where creativity can arise easily by asking the right questions and allowing me to generate new convergences.
Have a creative week!