The technological advancements combined with the increasing growth of computing power will lead to singularity. But what is singularity and what does it mean for businesses?
Technology grows in an exponential, rather than a linear pattern, as shown by the popularised law of technology - Moore's law
. The law states that computing power doubles every 18 to 24 months. During the past 50 years we have experienced astonishing technological advances while we have also seen a significant decrease in relative costs and If we look back at the last 5 and 10 years we can see that this exponential change
has digitally disrupted many industries.
According to TIME
Magazine singularity is when Machine power will surpass brainpower equivalent to that of all human brains combined. They predict that Singularity will occur in 2045 and that humans by that time will merge with machines and become super-intelligent cyborgs. Ray Kurzweil
, a famous futurist that often speaks about this subject believes that human beings by 2045 will end up being "functionally immortal". He argues that we will be able to transfer our minds into computers or robots and also be able to slow down the process of ageing.
As we get closer to singularity we will see an increasing convergence of the analogue and digital world.
This will enable brands to connect with consumers in new and innovative ways, but it will also put pressure on brands to deliver a seamless experience that is differentiated and memorable.
In order to keep up with today's exponential change we need to start thinking exponentially.
The exponential force is disruptive and increasing the speed of change for old business models, but at the same it's possbile for organisations to adapt and innovate. Companies and business leaders need to do the following three things in order to succeed in today's digital economy:
- Accurately spot the oncoming trends
- Get a feel for the underlying currents driving disruption
- Position themselves in a way that gives them an advantage in the tidal shift
As a futurist speaker I believe that the three steps above are essential if you want to transform yourself from a digital follower to a digital leader.