TIP272: X-Prize Founder Peter Diamandis & Steven Kotler on the speed of technology (Business Podcast)
Dec 8, 2019
auto_awesome
Peter Diamandis, the innovative founder of the XPRIZE Foundation, joins best-selling author Steven Kotler to discuss the upcoming tech boom. They explore how major industries will be disrupted in the next decade and address our evolving abundance mindset. The duo reveals exciting advancements in genetics, predicting cures for most genetic diseases, and shares visions of AI surpassing humans in creative fields. From futuristic glasses replacing smartphones to the transformative potential of augmented reality, this conversation is a captivating peek into the future of technology and society.
The convergence of exponential technologies like AI, augmented reality, and 5G is expected to redefine entire industries and business models over the next decade.
Advancements in digital biology and genomic sequencing are projected to revolutionize healthcare by enabling personalized treatments and eradicating genetic diseases.
The current educational system must evolve to emphasize critical thinking and essential life skills to prepare students for a rapidly changing workforce.
Deep dives
Convergence of Exponential Technologies
The discussion highlights that the greatest technological disruptions in the upcoming decade will stem not from isolated advancements but rather from the convergence of multiple exponential technologies. For example, augmented reality, AI, and 5G could together redefine retail experiences by creating new business models that enhance customer interaction. Such combinations are expected to lead to whole markets being reconfigured, pushing industries to innovate at unprecedented rates. The essence of this transformation lies in integrating capabilities from various tech sectors to create powerful, synergistic effects.
Accelerated Technological Advancement
The podcast emphasizes the remarkable acceleration of technology over the past few years, primarily driven by increased capital investment, lower costs for tech solutions, and enhanced connectivity. As computing power continues to follow Moore's Law and breakthroughs in fields like genome sequencing and bandwidth become commonplace, innovations are proliferating. These advancements are not only making technologies cheaper and faster but also enabling more individuals around the world to connect and leverage these tools. Such growth leads to an environment ripe for more ambitious ideas, further fueling the ecosystem of innovation.
Radical New Business Models
Revolutionary business models are anticipated to emerge rapidly as technology evolves, contrasting sharply with the slow pace of the previous century. The podcast presents examples of new models expected to unfold over the next decade, such as pay-per-use or subscription-based services that cater to consumer needs in unique ways. This departure from traditional frameworks is predicted to bring substantial changes to markets, driving efficiency and consumer engagement beyond previous capabilities. Already, the foundational elements for these innovative approaches are surfacing as industries adapt to technological changes.
The Changing Landscape of Healthcare
Healthcare is projected to undergo a significant transformation due to advances in digital biology, notably in genomic sequencing and precision medicine. The cost of sequencing a human genome has dramatically reduced, paving the way for personalized medical treatments that are tailored to individual genetic makeups. Techniques like CRISPR gene editing are emerging as potential solutions for addressing numerous genetic disorders, potentially erasing diseases that were once deemed incurable. This new approach signifies not only more effective healthcare but also a shift towards preventative medicine, changing how society approaches health overall.
The Role of Education in Future Innovation
The discussion indicates that the current educational system is outdated and in urgent need of reinvention to meet the demands of the future workforce. With technologies rapidly evolving, there's a consensus that educational models must adapt to focus more on essential life skills and critical thinking rather than rote memorization. The implication is that education should provide flexible, personalized learning experiences, leveraging technologies like virtual and augmented reality. This adaptation will prepare the next generation to navigate and thrive in a rapidly changing environment, fostering innovation in various sectors.
On today’s show we talk to X-Prize Founder and Chairman, Peter Diamandis. He is accompanied by Best Selling author, Steven Kotler, and they talk about the technology boom that's going to happen in the next ten years.
IN THIS EPISODE YOU’LL LEARN:
Which major industries will be disrupted most over the next 10 years and how.
Why we have an abundance problem rather than a scarcity problem.
Why 89% of all genetic diseases can be cured permanently very soon.
How long will it take before AI is much better at writing novels better than humans, and how AI can already make short films.
Why iPhones soon will just be a pair of glasses with many more features.
BOOKS AND RESOURCES
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!