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Technology will accelerate the rate of change. Many people get baffled by the dizzying rate of innovation and technology changes. This article introduces two models to understand technology changes and social impact.
The first model DTAC provides an effective way to comprehend the technology revolution and also project future technology changes. The second model, TOST explains social & business impact.
Let us first understand the DTAC model. Imagine that technology change is like a four-storied building. Each floor is built on the foundation of the lower floors.
Step-1: Fundamental Driving Forces:
At the base of the building, 1st Floor is the Fundamental Driving Forces (FDF) that fuels all technological changes. We will call it Drivers.
There are 3 Drivers currently shaping the technological revolution:
1) Internet Bandwidth
2) Computer Processing Power
3) Storage and Computer Memory
Whenever paradigm-shattering breakthroughs are achieved in bandwidth, processing power, or memory, it is denoted as Next Generation Technology. Between 2020 to 2035, we will see widespread propagation of 5G Mobile Internet technology with data speeds ranging from 300 Mbps to 1000 Mbps.
After 5G, companies and researchers have already started planning the development and deployment of 6G Internet. 6G may have an Internet speed 100 times faster than 5G.
Intel, AMD, Qualcomm, Intel, and other chip manufacturing companies launch new generations of faster computer and mobile processors every year. Today’s computer processors are millions of times faster than computer processors that were used 20 years ago.
Seagate, Western Digital, Micron, Toshiba are leading the data-storage revolution. As of 2020, one can get 16000 GB or 16 Terabytes of storage for a few hundred dollars.
Step-2: Key Technical Fields:
These basic driving forces will contribute to new technical aspects. 2nd narrative is your Key Technical Fields (KTF) that appear or have been shaped from the driving powers.
Dependent on the revolution at the launching of a new production of protocols and goods associated with bandwidth, processing power, and storage, many new technical regions of practice curiosity will emerge.
In the current age, Key Technical Fields are:
1) Artificial Intelligence (AI)
2) Internet of Things (IoT)
3) Virtual Reality/ Augmented Reality (VR/AR)
Step-3: Revolutionary Practical Applications:
Initially, these specialized fields are confined to academic talks and research papers. Gradually, practical software and new user case situations are discussed by specialists.
Next degree is Practical Software. 3rd Story is your Revolutionary Practical Software (RPA) due to the improvements from the key technical areas. Hundreds of new functional applications will emerge in the newer specialized fields.
Three key practical applications from the year 2020 onwards are likely to be:
1) Driverless Car
2) AI-Consultants, AI-Knowledge Processing
3) Holographic Phones/ Hololens. VR/AR learning & healthcare.
Step-4: Futuristic Companies and Tools:
Once companies find new functional software for the emerging technology, they create new tools, applications, and solutions. 4th degree is the Futuristic businesses and Tools (FCT) that induce innovation, create new alternatives and implement new ideas.
1) Google’s Waymo & Tesla Self-Driving Cars.
2) AI – Assistant like Siri, Google Now, Alexa
3) Microsoft, Facebook Oculus, Sony’s solutions for VR/AR
As the resources and solutions older, an increasing number of people will begin using them. Social customs will change. New customs, new principles will get ordinary, widespread, and approved.
By way of instance, online buying or online banking is currently a standard habit.
Following the first 4 levels, technology will begin impacting the societal and business world. Gradually, new methods of working, travel, learning, about, living, and communication will become regular.
Let’s take examine another version to understand societal and business impact. We’ve called this version the TOST version.
Step-5: Future Trends:
As companies launching new tools, a growing number of businesses and people will begin using those tools and that is going to make new social & industry trends.
A number of the present social trends like Youtubers, Zoom Meetings, Online Gambling, Live streaming were unthinkable 10-15 decades back. Several new trends will emerge from the next 10-30 decades.
Some of the key trends are:
1) Widespread E-Learning & Telemedicine through VR/AR.
2) Remote working, flexible global teams.
3) Explosion in entertainment content as all video, audio, text can be translated into any language in the world.
Step-6: Opportunities:
Since the newest tendencies gain approval, new opportunities will emerge. There’ll be opportunities to make new companies and resolve new issues.
Business Opportunities:
1) Hardware Selling, Repairing, Trading, Second Hand Hardware, Waste Management, Re-cycling.
2) Software Apps – Plugins – Tools.
3) Content – Video, Audio, Text, Multimedia, VR, AR
4) Training, Consulting, Designing
5) Solutions – Everything combined to create a new solution
Problems:
1) Addiction To Technology – No Exercise, Unhealthy dietary patterns
2) Content utilization – No Creation – No Self-Expression
3) Restricted ability to focus – Lack of tolerance, sympathy in close to home connections. Less worth and significance to an individual, dependable connections.
4) Destruction of customary social and social characters, standards, qualities, and customs. More and more mechanical conduct. Family, Marriage, Parenting will separate. Virtual connections will get the all-important focal point.
5) Traditional degree-based costly training will begin losing esteem. Worldwide instructive foundations will begin losing significance.
6) All vocations will require innovation. Preparing labor force. Refreshing their abilities.
7) Superstars, VIPs, high-spending motion pictures, diversion will be re-characterized. More up-to-date players will arise. Current amusement players will encounter a few dangers.
Step-7: Skills & Values:
Technology changes are similar to Tsunami. It will sweep off all based and anticipated social standards and business practices. Society and individuals will have to decide on which they want to safeguard and maintain. Old world order and worth will become always be threatened. Folks might have to create new abilities.
From the hyperactive society, the next key values will probably continue to stay in high-demand.
1) Authentic, patient listening. Personal attention. Warmth & Care.
2) Creative expression. Innovation.
3) Consistency, Integrity, and Reliability.
We’ll shortly begin embracing micro-learning. New skills need to be quickly mastered. There’ll be certificate-based on competence and control over any particular skill.
Step-8: Target, Goals, Action Plan & Results:
In the end, people and businesses that plan and make certain aims & aims to utilize new technologies will grow and flourish.
Everybody will have to create certain aims on how they are going to love to use forthcoming technology to attain their objectives.
People who make programs and take outcome-oriented activities will attain the outcomes.
Please discuss your perspectives on Technology & Social Trends. How can you find the future? What dangers and opportunities do you anticipate?
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