This is the most exciting time to be alive! The technology shift taking place today will dramatically change the way we live our lives for the better. With the availability of exponentially growing technologies such as artificial intelligence, augmented reality, sensors, biometrics, the internet of things just to name a few we are able to enhance not just our everyday lives, but our businesses and the world.
As we speak, 3 billion people are connected via the power of the internet but if Google or Facebook have their way, by 2025, that number will expand to include every human being on the planet. Solar and wind energy are now the same price and in some cases cheaper than coal providing social, environmental and economic benefits. Cancer and disease are making strides towards being non-existent with new developments in genetic editing, stem cell research and cancer immunotherapy. We are extending human life with genetic engineering and blood therapies and are on our way to make 100 the new 60 : )
I can go on about autonomous vehicles, flying cars and drones, artificial intelligence and space exploration and colonization. The amount of societal, business and social progress being made by technology today is astounding. I personally get really excited about the same rapid pace of change and advancement taking place in financial services. Banking for the last 100 years really hasn’t changed much but as of late the industry has been going through a much needed shift. From the growth in digital banking, to the advancements in payments, (Venmo, PayPal, Zelle, Apple/Samsung Pay) and personal finance management tools (using AI, predicative analytics), to the creation of blockchain, cryptocurrencies, and initial coin offerings just to name a few. The financial world as we know it is becoming easier to navigate and more convenient and value additive for the customer.
So how will this shift affect you? How will this technological revolution allow you to not only survive but thrive in this new world? We’ve seen how the internet boom of the late 1990’s created millionaires and billionaires but more importantly it changed the way we communicate and access information. This is another one of those special moments where we can decide to be players and seize the moment or spectators and accept what spare change is given to us. I once heard that if you are given an opportunity of a lifetime, you must take advantage of it within the lifetime of the opportunity. Seize this moment! Learn, unlearn, and relearn, and figure out how what you are passionate about aligns with these new technological advances and can benefit both your business and the world. Don’t just sit on the sidelines. Get involved, get excited and take advantage of this once in a 100 year opportunity!!