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REALIZING 2030
The future of the economy
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The dawn of a friction-free economy?
Technology is driving human progress. Our increasingly interwoven partnership with machines has opened up new opportunities for organizations across the globe.
Today, 82% of business leaders expect to see integrated teams of humans and machines working within their organizations within five years1. Institute for the Future set out to explore the impact emerging technologies will have on the economy by 2030.
Our researchers forecast that emerging technologies and human-machine partnerships will transform our economy, remove age-old frictions and usher in new ways of doing business and creating value
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RETHINKING INDUSTRY, BUSINESS AND JOBS…BY 2030
In the next decade, technology will transform many of the fundamentals of commerce and production. Find out how to lead through this change successfully and why you need to prepare today.
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AUTOMATION. PREDICTIVE TECHNOLOGY. INCLUSION.
Shifting towards the economy of 2030
Technologies are transforming many of the fundamentals of commerce and production, as well as dismantling barriers to economic participation. Our researchers cite three key shifts that will drive progress across the globe.
Get the Future of the Economy ReportThe Future of the Economy at a Glance
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Autonomous commerce
Machines will evolve into consumers. They’ll use a mix of sensors, software and AI to assess the needs of the people they serve.
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Anticipatory production
Long production cycles will be transformed by micromanufacturing, over-the-air software updates and the work of enthusiast communities and innovators.
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Leapfrog economies
Technical advances will enable smaller economies around the world that are unburdened by old, outdated systems, to leap forward.
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AUTONOMOUS COMMERCE
Machines as consumers
Machines’ shift, from unconnected tools to consumers will be profound. Advances in smart distributed ledgers and AI will enable machines to fulfill human tasks. Intelligent objects will shop and compare products based on quality and cost, as humans do. Laundry machines will negotiate with other appliances to prioritize hot water use, detect maintenance issues and even hire local contractors to resolve issues, if needed.
70%
of business leaders would welcome people partnering with machines/robots to surpass our human limitations2
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Anticipatory production
Demand on-the-fly
On-demand manufacturing will become the norm. Technology will enable us to turn defects into improvements in real time based on customer feedback and predictivity. Innovation will be democratized and barriers to creating and commercializing products will recede. We’ll witness the rise of ‘meta-making’ - people with limited resources manufacturing and marketing their outputs to a global audience.
77%
of business leaders will use emerging tech to predict customer demand3
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Leapfrog economies
Unlocking inclusive opportunities
Emerging technology will help less developed economies overtake others with aging infrastructures by offering new ways to create value and go to market. Distributed ledgers will empower the disenfranchised to document their identities and participate in the formal economy. A new, more inclusive world order could emerge.
54%
in emerging markets would transact more via blockchain (compared to 41% in developed markets)3
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Five technologies shaping the economic future
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5G & 6G
5G/6G will deliver hyper-fast wireless connectivity, virtually eliminating network delays.
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IoT
IoT will generate powerful data insights to better anticipate customer needs.
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AI
AI will transform everything – from targeted product creation to rapid authentications and better decision-making.
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Blockchain
Blockchain will provide an immutable, transparent data storage mechanism.
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Cryptocurrencies
Cryptocurrency will be a global payment alternative, that is less prone to fraud and settles immediately.
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Preparing for a friction-free economy
As with any opportunity, challenges will need to be overcome. Our researchers list these:
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SECURITY
Security must be deeply embedded.
Breakthrough technologies such as IoT & AI could lead to more intelligent, targeted attacks. Security must be deeply embedded in any IT infrastructure.
Making IoT devices secure with AI -
Data privacy
Data protection will be more important than ever.
Data is growing exponentially. So are risks. Data privacy starts with data protection.
Learn more about the Global Data Protection Index -
Human-machine interactions
Humans must carefully guide human-machine relationships.
Challenges exist, like bias in AI and failures in autonomous vehicle performance. Humans will need to supervise machines for the best results.
Enhancing driverless safety with AI -
Trust & transparency
Trust will become critical to evaluating business.
Organizations use frictions to minimize risk. Without these safeguards, organizations will need to earn and maintain the highest levels of trust.
Why a culture of trust is critical for NATO -
Governance
New capabilities will require new forms of oversight.
Technology can and will be exploited. Mitigate this through checks and balances.
How organizations can use blockchain to ensure integrity -
Job creation & education
Technology can create as many jobs as it replaces.
Automation can eliminate and create jobs, simultaneously. Educate and train so everyone can thrive in this digital future.
Creating unlimited educational opportunities with VR -
Environmental impact
Progress must never hurt our planet.
Increased manufacturing can increase our environmental impact. Win the race responsibly
Using emerging technologies for more sustainability
- Security
- Data privacy
- Human-machine interactions
- Trust & transparency
- Governance
- Job creation & education
- Environmental impact
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Realizing the digital future
Our research has shown that technology has the potential to redraw our economy for the better by 2030. However, a friction-free economy is not guaranteed. To realize these forecasts, organizations will need to lay the groundwork for their digital future today.
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