Posted by Adam Gordon on Dec 16, 2010 in all, innovation, lifestyles & values, social change, technology change
I recently got caught in front of a video on the Future of Money shown at the banking industry conference, Sibos (SWIFT International Banking Operations Seminar) in Amsterdam.
Source: tradefinance-jobs.com
I’d give the video a miss. It’s Gen-Y dude-immersion to the like, max, and what co-producer Venessa Miemis has to say is much more effectively communicated on her site, which is:
“All the decisions about where I spend my time, attention, and money say something about me. For example: I buy organic food from local farms and products and services from local businesses —(I believe in building resilient communities by supporting local economy.) I have a garden, I fish, I hunt, I brew beer— (I find empowerment, gratification, and joy from understanding where food comes from and how to get it myself.) I recycle—(I understand that we live on a planet with finite resources and I want to reduce my impact.) I don’t shop at Wal-Mart. – (I prefer not to buy products that were produced in a country where people’s labor had to be exploited so I could “save” a dollar.)”
The well-identified trend to ethical consumption is at work here, but Miemis is actually expressing a far bigger consumer trend that in industry foresight workshops I call “identity-building consumption” (which may or may not be ethical.) Ref: “All the decisions about where I spend my time, attention, and money say something about me.”
Miemis continues: “Now, what does my bank say about me? Nothing.”
How might a bank go about articulating customer identity?
“Transparency… All I know about the way my bank works is that I deposit my money there, and then they take that money and go make money off of it. Where is that money going? Where is it being invested? Can I have control over how you use my money? Can I set a standard of where I allow you to invest my money, so I can be proud to say my money is being invested in green technology, or local initiatives, or anything that I care about?
“Intelligent Investing Opportunities… Show me opportunities where I can micro-invest in things I care about. Recommend ways I can save money on the things I already buy regularly. Show me how I can leverage my network and invest with a whole swarm of people. (Think Groupon for investing.) And then make each of these investments a part of my digital identity. I WANT people to know. I’ll wear it like a badge. Give me a service that empowers me to invest intelligently and in a way that represents the ethics I believe in, and I’ll tell everybody about it. This information will become part of ‘Social Credit Score,’ which will be more important than our current credit scores one day.
“Social Network Analysis for Co-Production Opportunities… There are a lot of people out there who want to cooperate and collaborate in order to manifest something together and make their lives and the world a better place. How do we find each other? Could a BANK help hook us up and then provide us with the information and resources we need to take an idea to action? Could we display projects we want to work on that are socially responsible and environmentally sustainable, and the bank links us to the investors that can help actualize it?”
Miemes rails against how at Sibos her “Innotribe’s” manifesto was met with no more than a polite “there-there” pat-on-the-head from gray-haired bankers. That’s to be expected. But if there is a solid principle in industry foresight, it is that the next generation wins in the long run (and the long run is becoming shorter.)
Retail banking, like just about every other retail industry, is being sucked with new generations into Web 2.0, the “Social Web.”
And the Social Web is, fundamentally, a self- (and group) identity-building and identity-expression machine.
So the banking sector has to prepare for a near-term future where it plays an active role in the identity construction and identity articulation of its customers. Here they are shown some important ways to do it. That is, they have been gifted a blueprint of the future of their industry.
read morePosted by Adam Gordon on Aug 13, 2009 in 2025, all, emerging technologies, social change, strategic foresight, technology change
I’ve been following a fun little foresight project organized by Rohit Talwar of “FastFuture” contributed to by many members of the Association of Professional Futurists, which looks at new jobs that may emerge in the next 10-20 years as the result of science and technology advancement.
One of the benefits of thinking about science and technology foresight in terms of jobs is that doing so encourages a reality check, forcing the question: will someone get paid to do this, if so, by whom and why (how will it be profitable to the job giver?) In other words, the question is taken beyond whether one can imagine a job that will need doing or a job that someone might like to do it – that’s just mental bubble gum – to the more interesting and taxing issue of whether such need will justify enough paying customers such that the job will exist at all.
Of course, in all this science and technology progress will make new products and services possible partly by reducing the price point of providing them.
Not all of the jobs of the future listed below, I feel, pass this test. But many do. And it’s an interesting thought experiment. It’s a work in progress (see below.) The list as exists so far is:
1. Body Part Maker
Due to the huge advances being made in bio-tissues, robotics and plastics, the creation of body parts – from organs to limbs – will soon be possible, requiring body part makers, body part stores and body part repair shops.
2. Nano-Medic
Advances in nanotechnology offer the potential for a range of sub-atomic ‘nanoscale’ devices, inserts and procedures that could transform personal healthcare.. A new range of nano-medicine specialists will be required to administer these treatments.
3. Pharmer (sic) of Genetically Engineered Crops and Livestock
New-age farmers will raise crops and livestock that have been genetically engineered to improve yields and produce therapeutic proteins. Works in progress include a vaccine-carrying tomato and therapeutic milk from cows, sheep and goats.
4. Old Age Wellness Manager / Consultant Specialists
Drawing on a range of medical, pharmaceutical, prosthetic, psychiatric, natural and fitness solutions to help manage the various health and personal needs of the aging population.
5. Memory Augmentation Surgeon
Surgeons that add extra memory to people who want to increase their memory capacity and to help those who have been over exposed to information in the course of their life and simply can no longer take on any more information – thus leading to sensory shutdown.
6. ‘New Science’ Ethicist
As scientific advances accelerate in new and emerging fields such as cloning, proteomics and nanotechnology, a new breed of ethicist may be required. These science ethicists will need to understand a range of underlying scientific fields and help society make consistent choices about what developments to allow. Much of science will not be a question of can we, but should we..
7. Space Pilots, Architects and Tour Guides
With Virgin Galactic and others pioneering space tourism, space trained pilots and tour guides will be needed, as well as designers to enable the habitation of space and the planets. Current projects at SICSA (University of Houston) include a greenhouse on Mars, lunar outposts and space exploration vehicles.
8. Vertical Farmers
There is growing interest in the concept of city based vertical farms, with hydroponically-fed food being grown in multi-storey buildings. These offer the potential to dramatically increase farm yield and reduce environmental degradation. The managers of such entities will require expertise in a range of scientific disciplines, engineering and commerce.
9. Climate Change Reversal Specialist
As the threats and impacts of climate change increase, a new breed of engineer-scientists will be required to help reduce or reverse the effects of climate change on particular locations. They will need to apply multi-disciplinary solutions ranging from filling the oceans with iron filings to erecting giant umbrellas that deflect the sun’s rays.
10. Quarantine Enforcer
If a deadly virus starts spreading rapidly, few countries, and few people, will be prepared. Nurses will be in short supply. Moreover, as mortality rates rise, and neighborhoods are shut down, someone will have to guard the gates.
11. Weather Modification Police
The act of stealing clouds to create rain is already happening in some parts of the world, and is altering weather patterns thousands of miles away. Weather modification police will need to control and monitor who is allowed to shoot rockets containing silver iodine into the air – a way to provoke rainfall from passing clouds.
12. Virtual Lawyer
As more and more of our daily life goes online, specialists will be required to resolve legal disputes which could involve citizens resident in different legal jurisdictions.
13. Avatar Manager / Devotees – Virtual Teachers
Avatars could be used to support or even replace teachers in the elementary classroom, i.e., computer personas that serve as personal interactive guides. The Devotee is the human that makes sure that the Avatar and the student are properly matched and engaged.
14. Alternative Vehicle Developers
Designers and builders of the next generations of vehicle transport using alternative materials and fuels. Could the dream of underwater and flying cars become a reality within the next two decades?
15. Narrowcasters
As the broadcasting media become increasingly personalized, roles will emerge for specialists working with content providers and advertisers to create content tailored to individual needs. While mass market customisation solutions may be automated, premium rate narrow casting could be performed by humans.
16. Waste Data Handler
Specialists providing a secure data disposal service for those who do not want to be tracked, electronically or otherwise.
17. Virtual Clutter Organizer
Specialists will help us organise our electronic lives. Clutter management would include effective handling of email, ensuring orderly storage of data, management of electronic ID’s and rationalizing the applications we use.
18. Time Broker / Time Bank Trader
Alternative currencies will evolve their own markets – for example time banking already exists. (Time banking facilitates reciprocal service exchange based on units of time.)
19. Social ‘Networking’ Worker
Social workers for those in some way traumatized or marginalized by social networking.
20. Personal Branders
An extension of the role played by stylists, publicists and executive coaches –advising on how to create a personal ‘brand’ using social and other media. What personality are you projecting via your Blog, Twitter, etc? What personal values do you want to build into your image – and is your image consistent with your real life persona and your goals?
I added a few of my own to the database (trying to avoid repetition) which would both be needed and economically justifiable:
(1) Organ Agent: person who sources and negotiates real or artificial organs on behalf of those in who want them. Interacts with donor, manages prices or bids if applicable, negotiates with hospitals, and so on.
(2) Automated Systems Monitor: person who oversees automated systems (e.g. smart highways) and intervenes and corrects as necessary. “ASMs” would each need specific expertise in their field — transport or manufacturing or surgery or whatever is automated — but would share the specific skill of being a complex-automated-system monitor, evaluator, and emergency troubleshooter.
(3) End-of-Life Planner: person who helps people plan and manage their own death (combating the fact that medicine/technology will be able to keep most people technically alive pretty much forever).
You can add your own thoughts by taking the survey at http://www.zoomerang.com/Survey/?p=WEB229HP2J3ALX closing date: August 19th, 2009.
read morePosted by Adam Gordon on Mar 16, 2009 in 2025, all, economy & finance, emerging technologies, forecast filtering, lifestyles & values, Perils of Prediction, policy, social change, technology change, trend tracking
It’s all in a day’s irony when Guinness releases its 250-year view of the future on the day that the UK Chief Medical Officer pleads for a minimum price for alcohol (and Gordon Brown, for now, says no, but don’t bet on that holding for long.)
Guinness' view of the pub of 2259. Image credit: Chris Bainbridge
The Guinness Pub-of-the-Future is a St. Patrick’s day (March 17) promotion. Nothing wrong with a little bit of fantasy foresight. But what they come up is so “20th-century-futurism” it’s hilarious. Among various reports on the project – for example in the Telegraph – the following features are foreseen:
- robotic doorman, greets you by name
- cash obsolete; orders via RFID; payments deducted automatically
- your product tailored to you on the spot
- touch-sensitive tables, send your order straight to the bar
- socializing via virtual / hologram technology
- a running tally of the number of units consumed.
Yawn. Even on it’s own terms (minimal constraints of realism) this is a totally derivative piece of foresight. These “innovations” are the staples of an infotech view of the future, and they have all been thought and spoken of countless times. Also many of the elements and services cited are already here, or not more than a decade away. What we have is the current pub assumptions + digital steriods, while the year 2259 will be, truly, another world.
The limits to growth
But all this leads us to more interesting industry foresight problem. Will there be pubs in even a generation, never mind 250 years? What the Telegraph dryly observes at the bottom of its report is that 39 pubs are closing every week Why? A number of driving forces are coming together:
First is strict drink-driving limits, which makes “the local” literally local or nothing. Second, pubs in the UK have traditionally been a refuge from housing that was poor and/or underheated. Unprecedented waves of affluence (credit-crunch notwithstanding) have led to widespread housing “do-ups.” It’s now a valid option for most people to spend their leisure time at home and entertain at home.
Then there’s the where’s-my-friend trend. You’re likely to go down the pub if your friends are there, but not if they are where most people’s friends are: on Facebook.
The social-legislative clock
Fourth, no matter how you dress it up, pubs are retail outlets. So, like all retail they are under the cosh in a Wal-mart / Tesco world. The price gap between store and pub has become too great for most consumers to cross with good conscience.
Which brings us to the current price-floor legislation bid. Alcohol is a huge social cost in terms of health care and violence. Drink costs the NHS £3bn a year, and the total price of alcohol to the taxpayer is estimated at five times that. Eventually these costs will become unjustifiable so, like smoking before it, the social-legislative clock is ticking for booze. As the 2-martini lunch has become the 2-seltzer lunch, the trend to social stigmatization is clear, and legislators will follow (not with Prohibition, but with a much more subtle community-endorsed squeeze).
Like the good politician he is, Gordon Brown won’t let his party get ahead of the trend. But the trend is clear and it bodes ill for pubs.
read morePosted by Adam Gordon on Feb 18, 2009 in all, foresight tools & methods, horizon scanning, managing uncertainty, prediction markets
It’s the week of the 81st Academy Awards and this means my automated Internet searches for future predictions are bunged up with blogger & media pundits predicting whether it’s going to be Brad Pitt or Sean Penn; Kate Winslet over Angelina Jolie; Slumdog Millionaire or The Reader, etc. This is just the fun-of-the-fair forecasting of course. But, turns out there are some significant things to talk about from a Future Savvy point of view.
First, there is the prediction game on offer from ABC, taglined: “The Oscars Live Challenge: Think you can Predict a Winner? Make Your Picks Now!”
It’s all part of the marketing drive of course, but, nevertheless how would one play it best and what might that tell us? Let’s assume there is something at stake, like you’re really going to sit in front of the TV and mark off your right vs. wrong predictions, and compare your score with that of your spouse for year-long bragging rights – now there’s pressure – how would you predict? Would you think (a) “this is the best movie so I predict it will win”? Hardly. You would think: (b) “this is the one that I think most people will pick, so that’s the one I think will win.”
You would be making a meta-prediction – going with what you think most are going to choose. In this particular case you would also know that that Oscar winners are chosen by balloting the 6,000 members of the Academy of Motion Picture Arts and Sciences. So your more exact question would be: who is this special group likely to choose in each category?
What’s going on? In future situations that are heavily dependent on aggregate human choices – which is very many situations – the savviest predicting strategy is to figure out the choices most people are going to make. Oscars aside, figuring out the choices most people will make on any issue – hybrid cars, tighter securities legislation, public health care, etc. – is an excellent guide to what will really happen. It’s a mass market-led view of the future to be sure, but that’s exactly what makes it dependable in mass-opinion situations. (Not all situations are determined by mass-market choices – predicting a presidential election winner is; predicting a superbowl winner is not.)
Playing the game
I had a shot at the Oscar prediction game, joining the alleged 1,680 other “players” who were then online. From what I could tell via the rather gristly Flash interface is that the game is not (yet) “social” in that you can’t see what other people are predicting – there is no access to aggregate opinion. No matter. One can instantly get this in hundreds of prediction market forums right now, for example Intrade, where the price of each outcome in each Academy Awards category directly reflects how strongly players as a whole have bid up that outcome.
At Intrade, at time of writing, Slumdog Millionaire is at $87.30 (max is $100; the other 4 movies share the remaining $12.70). When used as a prediction this means that the aggregate opinion of people staking real money has been effectively captured: it is that Slumdog Millionaire is 87% likely to be the choice of the Academy members in its category.
This is a guide to Oscar night that I would not bet against if I wanted to hold onto my bragging rights. Even in situations less overwhelmingly agreed on by players, it has been shown that prediction markets, tapping the aggregate “wisdom of crowds” (working like “Ask the audience” on Who Wants to be a Millionaire) are a fabulous tool for capturing what most people think will happen, resulting in excellent predictions. Caveat Emptor: prediction markets are poor at predicting long-term, open-ended situations, particularly where the outcome alternatives are unknown or can’t be clearly bounded, as blogged a few months back.
Posted by Adam Gordon on Jul 17, 2008 in 2015, all, emerging technologies, failed predictions, forecast filtering, innovation, systems dynamics, technology change
I was at the recent Media Futures Conference 2008 in London where a lively cross-section of delegates spent their time – as to be expected, this is the topic-du-jour – pondering the impact of social networking-based “citizen journalism” on the traditional media. In the era where everyone can “publish” all the time, what is the role and purpose of, for example, the BBC? As major news sites are scrambling to allow reader’s views, or eyewitness pictures and so forth, do they become dissolved in a sea of chat, blog, and tweet?
I don’t think so. There are many new communication modes to explore as established media outlets get to grips with the micro-publishing and social networking technological possibilities and consumer preferences, but the fear that traditional journalism or traditional media is “under threat” is, to me, overblown. Yes, anyone can publish news and views anytime, but most strive to put their 2c worth on the media sites associated with the major newspaper and electronic media brands. Why? To benefit from (a) the visibility, that is, presence of many readers, and (b) the editorial quality – the brand promise – of the established media outlet. A submitted picture that is seen, for example, on The Guardian site, is worth a thousand pictures on mynonameblog.com. This is all-the-more true if the publication editors flag readers attention to the citizen journo contribution: giving it an editorial stamp of approval.
The power of hubbing has been talked about a lot, not least by management guru Michael Porter, and there can be no doubting the reinforcing feedback loop at work in hubs. In this case, where more readers are that’s where more writer-contributors want to be, which makes the hub more valuable to readers, etc. What’s most valuable to readers in a world of a billion potential journalists? Little doubt it is what has always been valuable to readers, that is, the activities of editors providing oversight and quality control: filtering, choosing, framing and balancing information and viewpoints. Any content that is not subject to oversight is, well, just someone yapping.
From origination to “hubbing”
What will surely happen to the main media outlets is that the percentage of own-originated content will go down as the percentage of publicly contributed content goes up. They will have to adjust their game to include wider information quality management. In addition to providing what they always have (quality and timely and relevant content) they will need to be able to function less as own-content originators and more as hubs – providing editorial-quality oversight and therefore attracting many readers in the virtuous-cycle spoken of above. But they will still be in business, and still in essentially the same business of information collection, editorial processing and oversight.
The citizen journalist may effect what the media outlets says and does – for example by providing evidence that must be included in a story – but this does not change the balance of power. The value of the editorial oversight and synthesis is higher than ever. This is what branded media providers offer and the citizen journalist cannot. The principle of anticipating the future here is this: where a service provides a value, the service-provider will continue to exist into the future. Nothing has changed in the value of editorial oversight, in fact, it is more valuable than ever. That’s why major media outlets will be part of the future.
This is not to say the current major media brands will survive – they may well miss or mismanage the transition to information quality hub function – and fold, as brands or as companies, as new ones emerge. The general news brands may also, over time give way to narrower topic niche brands. But the concept of a centralized quality-enforcing media hub is not dissolving into citizen yapping any time soon.
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