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3 Industries Artificial Intelligence Will Transform Over the Next Decade

Posted by Felix Assivo on
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Business
3 Industries Artificial Intelligence Will Transform Over the Next Decade

This week’s article is provided by Eric Redmond, a twenty-year veteran technologist and author. It is a companion to his interview on Innovating Leadership, Co-creating Our Future titled Deep Tech: Demystifying the Breakthrough Technologies that aired on Tuesday, June 29th. The following article has been adapted from the Deep Tech book.

Artificial intelligence as a field has existed in one form or another for centuries, but only in the past decade or so has it reached the critical point of going mainstream. No longer confined to science fiction, artificial intelligence (AI) is at work behind Amazon’s Alexa, Apple’s Siri, Google’s search engine, and many other technologies we use every day.

These applications of AI, while exciting, are only the beginning. Over the next decade, we can expect AI to transform many industries, including these three: agriculture, manufacturing, and the military.

Now that the Pandora’s box of AI has been opened, there are very few fields that artificial intelligence won’t affect in the near future. We’ll never stop finding new ways to add intelligence to dumb processes or inanimate objects.

With this transformation comes the chance to invest in and adopt these new technologies, but to seize the opportunity, you’ll have to first understand what to expect from the shifting landscape of industries.

Industry #1: Agriculture

The first industry worth exploring in relation to the rise of artificial intelligence is agriculture. Historically the largest industry, agriculture has long been in the crosshairs of innovative technologies. From plowshares to cotton gins to factory farming and GMOs, each innovation seems to increase yield and decrease the number of people required to work in this grueling sector. The influence of AI is expected to be no different.

One way AI will reduce required labor is through monitoring of soil and crop conditions and targeted deployment of solutions. For example, John Deere announced the acquisition of a company that leverages machine-learning vision systems to automatically spray weed killer directly onto plants, reducing herbicide use by 90 percent.

Several other companies, such as ecoRobotix, are creating chemical-free, mechanical weed-pulling robots. Many of these robots are also capable of targeted insecticide deployment, helping stave off many of the unintended consequences of over spraying, such as bee colony collapse. And speaking of bees, there’s now a pollinating robot called Bramble Bee. Furthermore, nearly 90 percent of crop losses are due to weather-related events, and the task of weather prediction is tailor-made for big data and machine learning.

Monitoring all the details of million-hectare farmlands is daunting work for humans yet perfect for machines, which is why you can expect to see a massive intersection between AI and agriculture in the coming decade.

Industry #2: Manufacturing

Next, let’s take a high-level look at how AI will impact manufacturing. Even in the early 1950s, automation was taking over manufacturing tasks in Henry Ford’s automobile factories. Our collective and persistent fear of automation goes back even further—just look at the Luddites of 1811, who famously destroyed high-tech cotton mills.

It’s true that automation, along with outsourcing, has contributed to a decrease in manufacturing jobs in first world nations. Still, over 8 percent of Americans earn a living in the manufacturing industry, which is over 11 percent of US GDP. Much of the technology needed to automate the remaining jobs currently exists: robotic arms, logistics machinery, quality control systems, and the like. So how will AI change things?

The introduction of AI into manufacturing takes automation to the next level by turning expensive specialty robots into general purpose cobots, or collaborative robots. Rather than huge, clunky welding robots, blind to the world and programmed for a narrow range of tasks, cobots can be taught many different tasks, retooling themselves automatically.

Cobots are also aware of their surroundings, capable of working side by side with humans on complex tasks. This allows cobots to slowly ease their way into a workspace and take over more work, limited only by an exponentially growing intelligence. Cobots may not be able to do all tasks, but they can do enough to bend that 8 percent of jobs down a few points while reducing waste, cost, and overhead.

Industry #3: Military

Lastly, artificial intelligence will undoubtedly transform the military. For the military, AI poses a siren song that’s too attractive to ignore: perfect knowledge of world events from governments to battlefields, paired with robots that bend the casualties on your side toward zero.

AI can better support troops by improving training systems and creating novel curricula for war games. It can provide smart weapons and better intelligence, along with the more pedestrian benefits of industry, like optimizing logistic challenges in the world’s most challenging situations, or helping troops with maintenance tasks.

Autonomous weapons are increasingly augmented with AI, such as smart-camera-controlled tactical missiles. Even if control ultimately remains in human hands, the myriad of complexities that would take humans years to learn can be partially automated, allowing operation from fewer specialist hands, like flying attack drones. Moreover, the ability to correctly detect targets can drastically reduce collateral damage and innocent deaths.

These are only a few straightforward examples and may not even scratch the surface of the many uses for AI in the military. At the very least, increasing automation may allow countries to shrink their military budgets in favor of more civilian expenditures.

The Time to Invest in AI is Now

I’ve only scratched the surface of how AI will transform agriculture, manufacturing, and the military, and as you can see, the potential uses for the technology are myriad. Artificial intelligence is already making an impact on our daily lives and most profitable industries, and its influence will continue to grow.

Even if you don’t work directly in tech, now is the time to get involved in the AI revolution. Historically, the people and companies that profit the most from emerging technologies are the ones who adapt and invest in them early. Moreover, these early adopters drive further adoption of the technologies, forcing everyone else to catch up.

You can get involved by learning more about how artificial intelligence will transform your industry, whether you work in agriculture, manufacturing, the military, or practically any other industry—AI is coming to disrupt them all. Prepare to be the first among your competitors to implement new AI solutions in your business, and like Amazon, Apple, and Google, you’ll position yourself to win.

For more advice on emerging technologies, you can find Deep Tech on Amazon.

 

To become a more innovative leader, you can begin by taking our free leadership assessments and then enrolling in our online leadership development program.

Check out the companion interview and past episodes of Innovating Leadership, Co-creating Our Future, via iTunes, TuneIn, Stitcher, Spotify, Amazon Music, Audible,  iHeartRADIO, and NPR One.  Stay up-to-date on new shows airing by following the Innovative Leadership Institute LinkedIn.

About the Author

Eric Redmond is the Forrest Gump of technology: a twenty-year veteran technologist who always happens to show up wherever deep tech history is being made, from the first iPhone apps to big data to Bitcoin. He has advised state and national governments, Fortune 100 companies, and groups as varied as the World Economic Forum and MIT Media Lab. He has also authored half a dozen technology books (including two tech books for babies) and spoken on every continent except Antarctica. Today, he’s a husband, a dad, and the leader of a global tech innovation team.

Photo by Possessed Photography on Unsplash

Today’s Deep Tech Solutions are Tomorrow’s Household Names

Posted by Felix Assivo on
0
Business
Today’s Deep Tech Solutions are Tomorrow’s Household Names

This week’s article is provided by Eric Redmond, a twenty-year veteran technologist and author. It is a companion to his interview on Innovating Leadership, Co-creating Our Future titled Deep Tech: Demystifying the Breakthrough Technologies that aired on Tuesday, June 29th. The following article has been adapted from the Deep Tech book.

If you’ve seen 2008’s Iron Man, a movie that reinvigorated the superhero genre, you can probably picture the high-tech laboratory of main character Tony Stark. Over a decade ago, much of the technology featured in his lab—augmented reality, artificial intelligence, 3D printing, autonomous robotics, Internet of Things—was largely confined to the realm of science fiction and academia.

A few years later, these emerging technologies are past the research and development phase, just on the cusp of scale, but not quite yet available for prime time. They’re deep tech: technology that is barely feasible today but will become pervasive and hugely impactful in day-to-day life tomorrow. Why does this matter to you as a business leader?

Deep tech offers the potential for enormous growth to businesses that adopt or invest in it at the right time. If you get in early—but not too early—you can leverage tech that will soon be so ubiquitous, they’re household names as recognizable as the iPhone.

When to Get Involved in Deep Tech?

Successful adoption of deep tech is all about timing. By its definition, deep tech practically begs to be undervalued in its early days, but those who seize on the opportunity at the right time almost always end up the winners. The trick is answering the question: when is the right time to get involved?

If you grab on too early, you may find yourself as Yahoo or Friendster. Jump on too late, and you’re Bing or App.net. But right on time?

You’re Google or Facebook.

The goal should be to not merely adopt emerging technologies but invest in and drive their adoption, forcing everyone else to catch up—that’s how you get ahead of the competition.

There are seven technologies poised to drive somewhere between 50 and 200 trillion dollars in new economic impact in the decade between 2020 and 2030: artificial intelligence, augmented and virtual reality, blockchain, and cryptocurrencies, the Internet of Things, autonomous vehicles, 3D printing, and quantum computing.

The right time to get involved in these technologies? Now.

Deep Tech Matters in Business

You might be thinking if the deep tech hasn’t hit the mainstream yet, does it matter to my business? The answer is yes. Whether you’re in finance, sales, design, logistics, or any number of fields and industries, we live in a world increasingly dominated by technology.

Over a hundred years ago, factories were the cutting edge, powered by the assembly line, and the world was dominated by those who used them. Then came electricity. Then business structures like the firm. Then supply chain optimization. Then the world belonged to those who cleverly leveraged financial instruments.

Today, we live in a fully digital age, and the major division is between those companies that respond to that change and those that are left behind. As corporate tech expert Patrick Fisher said in Reuters, “all companies are technology companies now.”

Leveraging emerging technology is an effective way to get ahead, and on the flip side, ignoring it can cost you significantly. Recent history is littered with corporations refusing to make the transition into leveraging technology appropriately, from the loss of a century of Sears dominance to the upstart of Amazon to Hertz bankruptcy due to a billion ride-share cuts.

The biggest danger in being ignorant of the current docket of deep tech’s coming of age is apathy, which in other words is a recipe for irrelevance. Whether you’re beginning a startup, or you’re a CEO or a thought leader, don’t allow yourself to flirt with the lines of Luddite groupthink and be drawn into ignoring what you don’t want to believe.

Deep Tech is a Pathway to New Lines of Business

If you want a concrete example of the benefits of understanding deep tech, consider the Winklevoss twins. You may be familiar with these brothers, Cameron and Tyler, as popular foils in the Facebook creation myth. But what’s more interesting is how the Winklevosses made their billions after Facebook: by keeping a keen eye on deep tech.

In 2013, they saw the Bitcoin revolution coming and chose to act on it. They bought in on Bitcoin (BTC) early, starting when the going rate was around $10 per BTC. Then they bought more and more, finally amassing a 1 percent stake of the total number of Bitcoin. To support the technology and community, they worked as ambassadors for the power of the decentralized digital currency. All the while, their investment grew. Once Bitcoin hit $10,000 per BTC in 2017, they both became the world’s first Bitcoin billionaires. What a difference a decade makes.

Like the Winklevosses, deep tech can be a pathway to new lines of business for you and your company. Whether you’re looking for new revenue streams, process effectiveness, or other cost savings, deep tech is the most important avenue to investigate. You’ll get the most value by adopting early and implementing the technology before your competitors.

Act Before Deep Tech Turns into Popular Tech

In 2008, Tony Stark’s lab tech was still science fiction, but today, we’re living with much of it, and the next level of advancement is right around the corner. Remember, deep tech refers to the stage the technology is in: impossible yesterday, barely feasible today, and soon to be so pervasive it’s hard to remember life without it.

The key to leveraging deep tech to your maximum advantage is timing your involvement right. Adopt and invest early, just before the technology is ready for mass market. Moves to adopt deep tech at the right moment are what turned Amazon, Google, and Facebook into the juggernauts they are today.

Technologies considered deep tech now—artificial intelligence, augmented and virtual reality, blockchain and cryptocurrencies, the Internet of Things, autonomous vehicles, 3D printing, and quantum computing—will be household fixtures tomorrow, so lean into the opportunity and get involved.

For more advice on emerging technologies, you can find Deep Tech on Amazon.

 

To become a more innovative leader, you can begin by taking our free leadership assessments and then enrolling in our online leadership development program.

Check out the companion interview and past episodes of Innovating Leadership, Co-creating Our Future, via iTunes, TuneIn, Stitcher, Spotify, Amazon Music, Audible,  iHeartRADIO, and NPR One.  Stay up-to-date on new shows airing by following the Innovative Leadership Institute LinkedIn.

About the Author

Eric Redmond is the Forrest Gump of technology: a twenty-year veteran technologist who always happens to show up wherever deep tech history is being made, from the first iPhone apps to big data to Bitcoin. He has advised state and national governments, Fortune 100 companies, and groups as varied as the World Economic Forum and MIT Media Lab. He has also authored half a dozen technology books (including two tech books for babies) and spoken on every continent except Antarctica. Today, he’s a husband, a dad, and the leader of a global tech innovation team.

Photo by Alex Knight on Unsplash

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