Name: Two futurists predict a decade of powerful innovations: “Faster and better, and cheaper than anyone can imagine.”
Uploaded: 2020-03-06
Duration: 7 min 28 s
Description: Peter Diamandis and Steven Kotler make their case in a new book 'The Future Is Faster Than You Think.'

[ MUSIC ] Congratulations, gentlemen, on your new book, The future is faster than you think. You know, the one thing that really stood out for me is that you make the claim that the innovations and the upheavals and all of that is going to happen over the next 10 years will be much, much more than all the innovations From the last 100 years. Peter, what's going on? I mean, what's behind this incredible speed of change? There's more money in the ecosystem. Things are cheaper to do than ever before. There's more people, more genius. All of these things are coming together. I looked at the innovations 100 years ago, in the year 1920, I scrubbed everything. There were four major innovations in the year 1920. Number one, the first commercial radio station came out, number two, the first band aid came out. Number three, the first portable hairdryer. And number four was the three light stop light. That was it for 1920. Compared to today, there are hundreds of thousands or more amazing innovation so we can actually feel by example And we talk about the notion that in the next ten years, we're gonna create more wealth than we have created in the last 100 years, more Google- size opportunities. And we're gonna transform every single industry. It's not gonna look the same. Steven, what's your take on all of this? It's hard to believe that so much change is gonna happen in just ten years. I think we also under appreciate how far we've already come, how much change has really happened. We're all old enough here to remember what it was like before the internet. Then the first wave, the second right so, it's interesting I think we're getting used to the speed but I don't think we're [ INAUDIBLE ] common. You've talking about huge transformation in many industries like health care, finance, retail, education Peter take health care. Give us a quick picture of how healthcare and medicine will be completely different from what we know today. We're gonna use censors on your body, in your house, networks, AI, all of those things to actually keep you healthy. And so it's gonna become preventative and personalized, right? You're gonna You're going to measure everything in your body, MRI genome and so forth. And when you find anything wrong in the very beginning, you fix it immediately and stage zero instead of waiting for it to get to stage three or four words a death sentence. So it's about preventative health care, first and foremost. And talk to us about transportation in terms of other unimaginable things. You know, people joke about flying taxis space travel for For everybody, how realistic is all that? Incredibly realistic let's just talk aerial transportation flying cars. Most people still think this is a science fiction technology. Hundred different companies are in the flying car space. Every aerospace company, every major car company. Uber has a flying car service they want on to be deployed by 2023 in Dallas, LA Dubai and then scaling out wide after this. So this stuff is a lot closer than anybody expects. You know when we think of American companies that are the innovators the game changers. We talked about Google and Amazon, Apple Tesla. Do you believe that these types of companies will continue to dominate In the decade ahead or is there going to be a completely new crowd of entrepreneurs and innovators. So I think they will remain powerful because the data they have and the fact that they're in our office in our homes, I think they're going to move out of their core business. Apple and Amazon will go into the healthcare business. All right, they'll go in the insurance business, they'll go in the finance business, because they're in our houses, in our bodies. They have more data than any other industries out there. So we're gonna see growth up and down the food chain, and horizontally. We'll talk just a little about the profile of the winners, the characteristics of the people who'll be the leaders of this new era we're going into. The companies that are crushing it today are founder led, data driven, experimentalist companies. That's still gonna be critical for the future, except they're gonna have new tools. They're gonna have use of quantum computers that allow them to do extraordinary calculations and natural systems they can't do today, and much higher level AI. The final thing Is the most important asset of any company in any government is the intelligence of its employees and citizens. And right now we're seeing massive investments into connecting your brain with the crowd. To increase your memory or cognitive capacity. So might actually be in the future, it's the companies have got the most AI enabled brains. On their payroll that are winning the game .>> You know, in your book, you you right, Stephen, that being able to see around the corner of tomorrow and being agile to adapt to what's coming is going to be more important than ever talk to us about that .>> Yeah, so it's a real issue for legacy organization. Right legacy organizations, companies are built for safety and security. They're not built for rapid radical change, built to last as the saying goes, but we are in the era of rapid radical change. So I think it's gonna require us redo and rethinking Kind of the foundational rules of business. I'll give you one example of a of an industry that's kept a lot of consolidation and bankruptcy. We've seen that in retail, we're going to see an automotive. So right now there's like 120 different brands out there. And when I call for an Uber, I don't really care if it's a BMW, Mercedes or Volvos. Let me just clean a class of service. And so the brand has little value to me as a user who doesn't own that car. And so as robo cars, robo taxis come along, it's not gonna be driven by the brand. And so we'll shrink from 120 companies down to maybe 20. Those are consolidations, bankruptcies or wholesale change this decade in the automotive industry. What about jobs? I mean, one thing when we talk about the future, many, many people are fearful that they're gonna lose their job, what happens to the traditional jobs? Do they disappear, do they go away. So yeah, certain job categories are going to go away. Autonomous cars, autonomous trucks are going to start replacing truckers that's gonna happen. But our ability to retrain workers is rising rapidly via AI these things help there. So, yes, there are going to be jobs that are going to go away. But it's I don't think it's gonna be anywhere near as drastic and devastating as people are worried about. Both of you are so optimistic. Why are you so hopeful? Stephen. I've spent my entire career staying those moments in time on the impossible becomes possible. History is littered with the impossible. We do it over and over and over again. So it's hard not to be optimistic when that's what your focus has been. Peter, why are you so hopeful? Susie, I'm hopeful because I look at the data. The data shows something very different than we hear in the news. Over the last decade 2010 to 2020, we've cut global poverty in half. We have reduced childhood mortality by 22 %. We have 10X the amount of solar energy. We've increased the global GDP by $ 22 trillion. We have increased the human lifespan by three years. It goes on and on and on. The data shows that the world is getting better at an extraordinary rate consistently. Technology is the force that takes what used to be scarce and makes it abundant. [ BLANK_AUDIO ]

Peter Diamandis and Steven Kotler make their case in a new book "The Future Is Faster Than You Think."

Two futurists predict a decade of powerful innovations: “Faster and better, and cheaper than anyone can imagine.”

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Diamandis, Kotler on "The Future Is Faster Than You Think."