Wed. Dec 2nd, 2020

Planet Compliance

Innovation & Regulation in Finance

Supertrends – 50 Things You Need To Know About The Future

5 min read

What are the supertrends that will shape the future? A new book provides you an overview and we give a sneak peak.

Do you remember Back To The Future? Of course, you do! But what I mean is, do you remember how the bad guy Biff in the second movie finds a sports almanac, travels 60 years back in time, and gives it to his younger self? In the movie, Biff makes a fortune betting on the outcome of sporting events. What a movie!

Supertrends

Predicting the future has never been an easy task, but still from ancient to modern times many have tried to predict our destiny from the flight of birds, the reading of animal entrails or tea leaves. Yet it sometimes seems that futurism has probably never been in such high demand as it in current times, but, at least to an extent, predictions have become more accurate and reliable when based on serious considerations. One work that tries itself on forecasting the future is a new book by Lars Tvede: “Supertrends – 50 things you need to know about the future”. The book explains how the world might evolve in terms of demographics, economics, technology, lifestyles, management techniques, environment and beyond.

PlanetCompliance has read the book and to whet your appetite we have put together a small selection from the book of some of the supertrends that will shape the future:

Blockchain and the Internet of Value

You didn’t expect anything else from us for our first selection, but it is, of course, an important technology that is the foundation on which an Internet of Value will be created. Blockchain technology is unfortunately mostly known for its role in Bitcoin and Initial Coin Offerings (ICOs). And the author cites exactly these two cases to explain its functioning, but fortunately he highlights its potential for reduce poverty using its capabilities regarding property registration or digital content. And lastly, there is the role that Blockchain plays in the development of decentralized autonomous organisations (DAOs) and decentralized applications (Dapps) but you might want to read for yourself.

Big Data = Big Deal

Yes, we know: Data is the new oil or, as Tvede puts it, the oil of our time! It seems everyone has heard (and since used) of this statement first coined by the Economist in May 2017, but not everyone seems to fully grasp what this means. To do so is to understand two aspects:

First, the amount of digital data doubles every two years (just to give you an idea of the dimensions). And secondly, Artificial Intelligence works by machines reviewing data, spot patterns and learn from that. Naturally, the more data they can review, the better and whoever has the most (and best) data gains the best insights.

 

Cyberattack – crime-as-a-service

We repeatedly talked about the seriousness of cyber crime. But because it has become such a lucrative and more so simple activity, it spawns new business profiles like cybercrime as a service. To illustrate the significance of CaaS, Tvede cites the story of Robin Sage, an invention of a security consultant who wanted to investigate how easy it was to access confidential information through social media and succeeded to obtain highly confidential information. Scary stuff!

 

Cloud Computing and the Human Cloud

Cloud computing has created the S a service movement with virtually infinite possibilities. It has transformed business models entirely and many advancements in FinTech and RegTech are only possible because of resources available when needed. The concept however is also very relevant to the so-called human cloud and the total transformation of the labour market. We see it in many facets of the gig economy, micro work and office-less work- concepts that had been unimaginable a generation ago, but now drive a trend that dissolves the boundaries between private life and work, between home and workplace and between work time and leisure time.

Jurassic Park

When you talk about what the future will bring, it’s a fine line between realistic predictions and science fiction. Jurassic Park or the story of bringing extinct species back to life, is one of my favourites. But with technological advancements, somethings we have read about in books or seen at the cinema or not so unrealistic anymore. Especially, by using selective breeding and we might be able to achieve marvelous results. I’m not so sure though whether that will include the re-creation of a T-rex…

 

A more peaceful world

And lastly for what seems an almost utopian wish: a more peaceful world! While there is a widespread belief that the world is becoming increasingly violent, Tvede argues that it is not. Whether you agree or not, or whether that is also a question of perception and the place you live in, he has a point when he states that high economic growth rates and a high level of prosperity would lead to more rationality, peace, and tolerance, which in turn facilitate more economic growth. Well, let’s just he’s right about it.

 

Conclusion

Here you go. A small introduction to work that is full of interesting predicitions and insights on how the future will pan out. It gives you plenty to think about and an idea how you can prepare for the future considering these trends.

Sure, it’s not likely to get you the headstart Biff had in Back to the future, but it’s always good to have an idea of where we are heading, isn’t it?

 


“Supertrends: 50 Things You Need to Know About the Future” by Lars Tvede is published by Wiley and you can buy it here:

And if you are interested in the topic, check out this book!

 


 

 

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