Digital entrepreneur John Straw and technology and economy expert Michael Baxter have launched their book iDisrupted.
Set to send alarm bells ringing throughout the establishment. It provides a roadmap on how we can all benefit from the new wave of technology that is about to affect everyone in society. It is also a warning on what will happen if we mishandle this opportunity.
It’s an attempt to kick-start an enormously important debate with as wide an audience as possible. It explains economic and technology theories in highly readable, entertaining, jargon free language. Offering everyone the opportunity to understand the rapid changes that are occurring in society.
This book is of interest to employers, employees, students, business leaders, policy makers and investors, all of whom need to know more about the potential impact of new technology.
Some of the theories are explained here:
Moore’s Law is one of the most important rules in business and the economy today. It says that computers double in speed every 18 to 24 months. This law is extended to apply to technology in a broader context and refers directly to rapid changes in genetics, 3D printing, AI and nanotechnology. If these crucial technologies are in acceleration mode – it’s a case of what industries will not be affected rather than what industries will be?
Downton Abbey Economy
Technology may distort the economy and create a Downton Abbey economy. Emerging trends, such as the Free Economy and the Sharing Economy, can potentially make most of us better off, but they carry dangers. Take as an example the sharing of photographs via social media taken from our smart phone. This is a positive development, but can undermine traditional businesses, for example Kodak. The combination of the Free and Sharing economy could lead to lower tax receipts for governments. This leaves fewer resources for the government and less funding for public services. Also, if AI and robotic technologies continue to develop at a rate commensurate with Moore’s Law, many jobs will be replaced by robots, which don’t require wages. This means owners of technology businesses will become the rich minority leaving the rest of us to become the underclass. Society will reflect that of 1900 with the haves and have-nots. A way has to be found to ensure the fruits of technology trickles down, creating demand for the kind of jobs that computers and robotics will find hard to do.
The Internet of Sharing, in the Chainsaw Theorem, describes how business will be disrupted as individuals rent out their assets online. Innovation will thrive, thanks in part to 3D printing, but this will also disrupt, creating a more localised form of industry.
Co-Author, John Straw says: “We are entering one of the most crucial phases in society’s history as AI is becoming a reality and technological giants are disrupting all aspects of industry. The next 30 years could change society more than the last one hundred years. We put in context how we can manage this period of change.”
Co-Author and economics editor, Michael Baxter, continues: “How disruptive will technology be? We need to understand the great changes that are just beginning to re-shape the human domain and our daily lives. We help to draw up plans.”