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  • REALIZING 2030

    The future of the economy

    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

    • 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      Technical advances will enable smaller economies around the world that are unburdened by old, outdated systems, to leap forward.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

       

       

      Learn How Otto Motors Is Making Robots a Reality
      Learn How Otto Motors Is Making Robots a Reality
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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

       

       

      See How Draper Is Innovating for Breakthrough Engineering
      See How Draper Is Innovating for Breakthrough Engineering

    • 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.

    • Preparing for a friction-free economy

      As with any opportunity, challenges will need to be overcome. Our researchers list these:

    • 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

      • 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.

        The Digital Future Is Now